Loans and Preferred Equity Held for Investment, net - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
	Jul. 30, 2025 USD ($) loan	Jun. 30, 2025 USD ($) sponsor loan investment	Mar. 31, 2025 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023	Jun. 30, 2025 USD ($) sponsor loan investment	Jun. 30, 2024 investment	Dec. 31, 2024 USD ($) loan	Mar. 31, 2024 loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest receivable		$ 10,700				$ 10,700		$ 11,900
Financing receivable, accrued interest, after allowance for credit loss, statement of financial position, extensible list, not disclosed, flag		Receivables, net				Receivables, net		Receivables, net
Transfer of principal			$ 8,800
Loan payoff period, maximum			2 years
Number of investments | investment		6				6
Number of sponsors | sponsor		1				1
Return on investment rates		14.00%				14.00%
Carrying Value		$ 2,392,415				$ 2,392,415		$ 2,518,925
Total commitment		$ 12,900				$ 12,900
Exit fee interest rate (as a percentage)								5.00%
Number of nonaccrual office mezzanine | loan								1
Number of multifamily senior loan in maturity default | loan								1
Number of CRE debt investments contributed to more than 10% of interest income (in investments) | investment						0	0
Percent of interest income contributed by investment						10.00%	10.00%
Hotel Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans on nonaccrual collateral dependent | loan		1
PD/LGD model
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for lending commitments		$ 600				$ 600		$ 200
Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		2,392,415				2,392,415		2,518,925
Future funding commitments		111,500				111,500		106,300
Senior loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		$ 2,338,073				$ 2,338,073		2,473,793
Loans held for investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on nonaccrual status | loan		2				2			1
Loans held for investment | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		$ 2,392,415				$ 2,392,415		2,518,925
Loans held for investment | Fixed rate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		74,959				74,959		45,132
Loans held for investment | Fixed rate | Preferred equity interests
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Value		6,963				6,963		0
Tualatin, Oregon | Senior loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loan modified				$ 39,400
Exit fee interest rate (as a percentage)				2.50%
Amount funded for operating shortfalls				$ 300
Tualatin, Oregon | Senior loans | Contractual Interest Rate Reduction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reduction in loan interest rate (as a percentage)				1.50%	3.96%
Baltimore, Maryland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan carrying value, nonaccrual		$ 14,700				$ 14,700		14,400
Loans on nonaccrual status | loan		1				1
Denver, Colorado
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan carrying value, nonaccrual								$ 136,000
Loans on nonaccrual status | loan		1				1		1
Denver, Colorado | Senior loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan carrying value, nonaccrual		$ 39,300				$ 39,300
Loans on nonaccrual status | loan		1				1
Subsequent event | Loans held for investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on nonaccrual status | loan	1
Subsequent event | Tualatin, Oregon | Senior loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loan modified	$ 36,600
Financing receivable, modified, increase (decrease) from modification	$ 6,200