Debt and Preferred Equity Investments - Schedule of Roll Forward of our Total Allowance for Loan Losses (Details) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2025 USD ($) loan	Mar. 31, 2025 USD ($)	Jun. 30, 2025 USD ($) loan	Dec. 31, 2024 USD ($)
Loan loss reserve activity
Balance at beginning of year		$ 13,520	$ 13,520	$ 13,520
Loan loss and other investment reserves, net of recoveries			300	0
Initial allowance for credit losses on loans purchased with credit deterioration ("PCD")	$ 66,000	99,000	165,037	0
Write-offs charged against the allowance		(24,000)	(40,779)	0
Current period recoveries	(46,600)	$ (25,000)	(71,626)	0
Balance at end of period	66,452		66,452	13,520
Commercial mortgage investment (in Percent)		100.00%
Loan modification amount		$ 10,000
Additional amount of financing receivables included in other assets	31,500		$ 31,500
Nonaccrual allowance writeoff	$ 13,400
Number of financing receivables on non-accrual without allowance for loan loss | loan	1		1
Debt and preferred equity investments	$ 315,684		$ 315,684	303,726
Joint venture
Loan loss reserve activity
Initial allowance for credit losses on loans purchased with credit deterioration ("PCD")	132,000
Additional amount of financing receivables included in other assets	63,000		63,000
Total floating rate
Loan loss reserve activity
Debt and preferred equity investments	130,398		130,398	$ 117,160
Alternative Strategy Portfolio | Total floating rate
Loan loss reserve activity
Debt and preferred equity investments	$ 53,500		$ 53,500