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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 11 – Commitments and Contingencies

 

From time to time the Company may become involved in certain non-material litigation or other claims arising in the ordinary course of business. See Note — 13 Subsequent Events.

 

As of December 31, 2024, the Company is not subject to any material litigation nor is the Company aware of any material litigation threatened against it.

 

In connection with the development of our commercial real estate assets, we have entered into separate construction management agreements for each asset which contain terms and conditions that are customary for the related scope of work. As of December 31, 2024, we have two development projects with an aggregate unfunded commitment of $59.9 million. As of December 31, 2024, $19.6 million, inclusive of retainage of $13.0 million, is outstanding and payable in connection with these developments.