Fair Value of Financial Instruments - Schedule of Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities, at fair value	$ 28,871	$ 23,512
Investments in commercial loans	34,807	21,800
Investment in affiliated fund	28,583	14,969
Derivative instruments	$ 9,122	9,345
Noticed prior period	45 days
Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities, at fair value	$ 28,871	23,512
Investments in commercial loans	34,807	21,800
Investment in affiliated fund	28,583	14,969
Total	101,383	69,626
Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	6,641	7,167
Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	2,481	2,178
Level 1 | Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities, at fair value	4,689	5,129
Investments in commercial loans	0	0
Investment in affiliated fund	0	0
Total	4,689	5,129
Level 1 | Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	0	0
Level 1 | Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	0	0
Level 2 | Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities, at fair value	24,182	18,383
Investments in commercial loans	0	0
Investment in affiliated fund	0	0
Total	33,304	27,728
Level 2 | Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	6,641	7,167
Level 2 | Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	2,481	2,178
Level 3 | Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities, at fair value	0	0
Investments in commercial loans	34,807	21,800
Investment in affiliated fund	0	0
Total	34,807	21,800
Level 3 | Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	0	0
Level 3 | Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	0	0
Fair Value Measured at Net Asset Value Per Share | Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities, at fair value	0	0
Investments in commercial loans	0	0
Investment in affiliated fund	28,583	14,969
Total	28,583	14,969
Fair Value Measured at Net Asset Value Per Share | Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	0	0
Fair Value Measured at Net Asset Value Per Share | Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	$ 0	$ 0