Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Investments in unconsolidated real estate affiliates	$ 3,801,703	$ 1,742,086
Investments in real estate debt	$ 2,101,147	$ 696,052
Class S Common Shares
Par value (in usd per share)	$ 0.01	$ 0.01
Shares issued (in shares)	306,971,144	186,966,766
Shares outstanding (in shares)	306,971,144	186,966,766
Class N Common Shares
Par value (in usd per share)	$ 0.01	$ 0.01
Shares issued (in shares)	47,799,493	15,155,627
Shares outstanding (in shares)	47,799,493	15,155,627
Class D Common Shares
Par value (in usd per share)	$ 0.01	$ 0.01
Shares issued (in shares)	8,920,047	1,751,905
Shares outstanding (in shares)	8,920,047	1,751,905
Class I Common Shares
Par value (in usd per share)	$ 0.01	$ 0.01
Shares issued (in shares)	358,834,111	219,267,018
Shares outstanding (in shares)	358,834,111	219,267,018
Fair Value, Recurring
Investments in unconsolidated real estate affiliates	$ 3,801,703	$ 1,742,086
Investments in real estate debt	$ 1,705,886	$ 619,476