Fair Value Measurements - Schedule of Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities, at fair value	$ 39,441	$ 28,030
Investments in commercial loans	34,736	34,626
Investment in affiliated fund	25,995	27,717
Derivative instruments	4,210	4,818
Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities, at fair value	39,441	28,030
Investments in commercial loans	34,736	34,626
Investment in affiliated fund	25,995	27,717
Total	104,382	95,191
Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	2,034	3,320
Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	2,176	1,498
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	5,637	4,729
Investments in commercial loans	0	0
Investment in affiliated fund	0	0
Total	5,637	4,729
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	33,804	23,301
Investments in commercial loans	0	0
Investment in affiliated fund	0	0
Total	38,014	28,119
Level 2 | Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	2,034	3,320
Level 2 | Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	2,176	1,498
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	34,736	34,626
Investment in affiliated fund	0	0
Total	34,736	34,626
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
NAV as a Practical Expedient | 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	25,995	27,717
Total	25,995	27,717
NAV as a Practical Expedient | Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	0	0
NAV as a Practical Expedient | Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	$ 0	$ 0