Transactions with Related Parties - Additional Information (Details) - USD ($) |
1 Months Ended | 3 Months Ended | ||||
---|---|---|---|---|---|---|
Jul. 20, 2021 |
Jul. 15, 2021 |
Nov. 30, 2016 |
Mar. 31, 2023 |
Mar. 31, 2022 |
Dec. 31, 2022 |
|
Related Party Transaction [Line Items] | ||||||
Proceeds from issuance of common stock | $ 342,000 | $ 580,000 | ||||
Expense Limitation Agreement | ||||||
Related Party Transaction [Line Items] | ||||||
Annualized ordinary operating expenses of quarter to extent expenses do not exceed average monthly net assets percentage | 1.50% | |||||
Annualized basis expense limit percentage | 1.50% | |||||
Reimbursement of expenses payable term | 3 years | |||||
Waive reimbursement on quarterly basis terms | waive reimbursement of or pay, on a quarterly basis, certain of the Company’s ordinary operating expenses for each class of shares to the extent necessary to ensure that the ordinary operating expenses do not exceed 1.5% of the average monthly net assets on an annualized basis (the “1.5% Expense Limit”). Amounts waived or paid by the Advisor or Sub-Advisor pursuant to the Expense Limitation Agreement are subject to conditional repayment on a quarterly basis by the Company during the three years following the quarter in which the expenses were incurred, but only to the extent such repayment does not cause the Company to exceed its then-current expenses limitation, if any, for such quarter. Any waiver or reimbursement by the Advisor or Sub-Advisor not repaid by the Company within the three-year period will be deemed permanently waived and not subject to repayment under the Expense Limitation Agreement. During the three months ended March 31, 2023, the amounts of ordinary operating expenses either submitted for reimbursement by the Advisor and Sub-Advisor or incurred by the Company directly that were subject to the Expense Limitation Agreement did not exceed the 1.5% Expense Limit. | |||||
Expense Limitation Agreement | Maximum | ||||||
Related Party Transaction [Line Items] | ||||||
Reimbursement of expenses payable term | 3 years | |||||
Class P Common Stock | ||||||
Related Party Transaction [Line Items] | ||||||
Common stock, shares, issued | 8,562,777 | 8,562,777 | ||||
Advisor | Class P Common Stock | ||||||
Related Party Transaction [Line Items] | ||||||
Proceeds from issuance of common stock | $ 1,000,000 | |||||
Common stock, shares, issued | 40,040 | |||||
Common stock, purchase price per share | $ 25.00 | |||||
Subscription agreement, minimum number of shares to be held | 8,000 | |||||
Subscription agreement, value of minimum number of shares to be held | $ 200,000 | |||||
Description of subscription agreement | The Advisor has agreed that, for so long as it or its affiliate is serving as the Company’s advisor, (i) it will not sell or transfer at least 8,000 of the Class P shares that it has purchased, accounting for $200 of its investment, to an unaffiliated third party and (ii) repurchase requests made for these Class P shares will only be accepted (a) on the last business day of a calendar quarter, (b) after all repurchase requests from all other stockholders for such quarter have been accepted and (c) to the extent that such repurchases do not cause total repurchases in the quarter in which they are being repurchased to exceed that quarter’s repurchase cap | |||||
Sub-Advisor | Class P Common Stock | ||||||
Related Party Transaction [Line Items] | ||||||
Proceeds from issuance of common stock | $ 3,000,000 | |||||
Common stock, shares, issued | 120,000 | |||||
Common stock, purchase price per share | $ 25.00 | |||||
Description of subscription agreement | Sound Point has agreed that, for so long as the Sub-Advisor or its affiliate is serving as the Company’s sub-advisor, repurchase requests made for these Class P shares will only be accepted (a) on the last business day of a calendar quarter, (b) after all repurchase requests from all other stockholders for such quarter have been accepted and (c) to the extent that such repurchases do not cause total repurchases in the quarter in which they are being repurchased to exceed that quarter’s repurchase cap. | |||||
Inland Real Estate Investment Corporation | Revolving Credit Liquidity Letter Agreements | ||||||
Related Party Transaction [Line Items] | ||||||
Number of days notice of termination prior to maturity date of agreement | 60 days | |||||
Fixed interest rate | 6.00% | |||||
Inland Real Estate Investment Corporation | Revolving Credit Liquidity Letter Agreements | Maximum | ||||||
Related Party Transaction [Line Items] | ||||||
Aggregate principal amount outstanding | $ 5,000,000 | |||||
Inland Real Estate Investment Corporation | Revolving Credit Liquidity Letter Agreements | Minimum | ||||||
Related Party Transaction [Line Items] | ||||||
Stockholders equity balance to trigger termination of liquidity letter agreements | $ 500,000,000 | |||||
Sound Point | Revolving Credit Liquidity Letter Agreements | ||||||
Related Party Transaction [Line Items] | ||||||
Number of days notice of termination prior to maturity date of agreement | 60 days | |||||
Fixed interest rate | 6.00% | |||||
Sound Point | Revolving Credit Liquidity Letter Agreements | Maximum | ||||||
Related Party Transaction [Line Items] | ||||||
Aggregate principal amount outstanding | $ 15,000,000 | |||||
Sound Point | Revolving Credit Liquidity Letter Agreements | Minimum | ||||||
Related Party Transaction [Line Items] | ||||||
Stockholders equity balance to trigger termination of liquidity letter agreements | $ 500,000,000 |