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Investment in Developmental Real Estate, net (Tables) | 9 Months Ended
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Sep. 30, 2025
Real Estate Investments, Net [Abstract] |
Schedule of investment in rental real estate | As of September 30, 2025 and December 31, 2024, investment in developmental real estate, net consisted of the following:
September 30, 2025 |  | Cost |  | Accumulated Depreciation |  | Investment in Developmental Real Estate, Net
|  | (in thousands)
Land |  | $ | 11,432 |  |  | $ | — |  |  | $ | 11,432 |
Building |  | 5,332 |  |  | (187) |  |  | 5,145 |
Site improvements |  | 870 |  |  | (54) |  |  | 816 |
Tenant improvements |  | 1,183 |  |  | (66) |  |  | 1,117 |
Construction in progress |  | 4,026 |  |  | — |  |  | 4,026 |
Lease intangibles |  | 81 |  |  | (5) |  |  | 76 |
Total |  | $ | 22,924 |  |  | $ | (312) |  |  | $ | 22,612 |
December 31, 2024 |  | Cost |  | Accumulated Depreciation |  | Investment in Developmental Real Estate, Net
|  | (in thousands)
Land |  | $ | 4,557 |  |  | $ | — |  |  | $ | 4,557 |
Building |  | 4,936 |  |  | (154) |  |  | 4,782 |
Site improvements |  | 359 |  |  | (30) |  |  | 329 |
Tenant improvements |  | 1,182 |  |  | — |  |  | 1,182 |
Construction in progress |  | 3,141 |  |  | — |  |  | 3,141 |
Lease intangibles |  | 41 |  |  | — |  |  | 41 |
Total |  | $ | 14,216 |  |  | $ | (184) |  |  | $ | 14,032 |
Schedule of future minimum rents under non-cancelable operating leases | As of September 30, 2025, future minimum rents under non-cancelable operating leases were as follows:
Years Ending December 31, |  | Amount
|  | (in thousands)
2025 (remaining three months) |  | $ | — |
2026 |  | 936 |
2027 |  | 1,267 |
2028 |  | 1,292 |
2029 |  | 1,318 |
Thereafter |  | 8,852 |
Total |  | $ | 13,665 |
As of September 30, 2025, future minimum rents under this lease were as follows:
Years Ending December 31, |  | Amount
|  | (in thousands)
2025 (remaining three months) |  | $ | 18 |
2026 |  | 31 |
Total |  | $ | 49 |

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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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- Definition Tabular disclosure of nonconsolidated investments in real estate including interests in corporations, partnerships and joint ventures. Disclosures may include summarized aggregate financial statements for the real estate investments. + References No definition available. + Details
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