Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities	$ 40,559	$ 28,030
Investments in commercial loans	12,972	34,626
Investment in affiliated fund	22,869	27,717
Derivative instruments	1,590	4,818
Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in real estate-related securities	40,559	28,030
Investments in commercial loans	12,972	34,626
Investment in affiliated fund	22,869	27,717
Total	77,990	95,191
Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	832	3,320
Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	758	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	6,207	4,729
Investments in commercial loans	0	0
Investment in affiliated fund	0	0
Total	6,207	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	34,352	23,301
Investments in commercial loans	0	0
Investment in affiliated fund	0	0
Total	35,942	28,119
Level 2 | Fair Value, Recurring | Interest rate caps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	832	3,320
Level 2 | Fair Value, Recurring | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments	758	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	0	0
Investments in commercial loans	12,972	34,626
Investment in affiliated fund	0	0
Total	12,972	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	0	0
Investments in commercial loans	0	0
Investment in affiliated fund	22,869	27,717
Total	22,869	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