Significant Accounting Policies - Investment in CMBS Securitization Trusts (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Fair Value [Abstract]
Real estate loans held by consolidated securitization vehicles	$ 1,023,877	$ 584,134
Senior obligations of consolidated securitization vehicles	1,023,877	567,487
Principal Value
Servicing asset at amortized cost		134,800
Servicing liability at amortized cost, balance		34,200
Real estate loans held by consolidated securitization vehicles
Fair Value [Abstract]
Real estate loans held by consolidated securitization vehicles	1,023,877	709,095
Principal Value
Real estate loans held by consolidated securitization vehicles (1)	1,119,044	894,000
Senior obligations of consolidated securitization vehicles
Fair Value [Abstract]
Senior obligations of consolidated securitization vehicles	1,023,877	590,131
Principal Value
Senior obligations of consolidated securitization vehicles	1,119,044	688,346
Securitization Vehicles, Real Estate Loans In Excess Of Senior Obligations
Fair Value [Abstract]
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles	0	118,964
Principal Value
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles	$ 0	$ 205,654

Fair Value

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Loans held by Servicing Asset at Fair Value, Net

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Principal Value

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This is the result of the principal amount outstanding of total loans managed or securitized less securitized loans and loans that are in the process of being securitized.

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This is the sum of principal amount outstanding for both securitized and unsecuritized loans of all types.

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Amortized amount of contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer.

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Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements.

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Amortized amount of contract to service financial assets under which estimated future revenues from contractually specified servicing fees, late charges, and other ancillary revenue are not expected to adequately compensate the servicer for performing the servicing.

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Fair value of a liability representing servicing arrangements under which the estimated future revenue from contractually specified servicing fees, late charges, and other ancillary revenues are not expected to adequately compensate the servicer.

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