Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2021
Fair Value of Financial Instruments
Marketable securities available-for-sale	$ 23,666	$ 17,323
Interest rate cap and swap agreements (included in Other assets)	8,000	31,860
Real estate loans held by consolidated securitization vehicles	1,023,877	584,134
Debt fund investments	152,958	0
Interest rate cap and swap agreements (included in accrued interest payable and other liabilities)	17,360	6,469
Senior obligations of consolidated securitization vehicles	1,023,877	567,487
Secured borrowing (included in Other liabilities)	$ 244,941	251,096
One Madison Avenue | National Pension Service of Korea / Hines Interest LP / International Investor
Fair Value of Financial Instruments
Investment in joint venture aggregate maximum ownership percentage	25.00%		25.00%
Level 1
Fair Value of Financial Instruments
Marketable securities available-for-sale	$ 0	0
Interest rate cap and swap agreements (included in Other assets)	0	0
Real estate loans held by consolidated securitization vehicles	0	0
Debt fund investments	0
Interest rate cap and swap agreements (included in accrued interest payable and other liabilities)	0	0
Senior obligations of consolidated securitization vehicles	0	0
Secured borrowing (included in Other liabilities)	0	0
Level 2
Fair Value of Financial Instruments
Marketable securities available-for-sale	23,666	17,323
Interest rate cap and swap agreements (included in Other assets)	8,000	31,860
Real estate loans held by consolidated securitization vehicles	895,998	584,134
Debt fund investments	0
Interest rate cap and swap agreements (included in accrued interest payable and other liabilities)	17,360	6,469
Senior obligations of consolidated securitization vehicles	895,998	567,487
Secured borrowing (included in Other liabilities)	0	0
Level 3
Fair Value of Financial Instruments
Marketable securities available-for-sale	0	0
Interest rate cap and swap agreements (included in Other assets)	0	0
Real estate loans held by consolidated securitization vehicles	127,879	0
Debt fund investments	152,958
Interest rate cap and swap agreements (included in accrued interest payable and other liabilities)	0	0
Senior obligations of consolidated securitization vehicles	127,879
Secured borrowing (included in Other liabilities)	244,941	$ 251,096
Level 3 | The Debt Investment Fund
Fair Value of Financial Instruments
Fund purchased	146,900
Unrealized gains on investments	$ 6,000