Summary of Significant Accounting Policies and Estimates - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Investments in unconsolidated real estate affiliates	$ 3,801,703	$ 1,742,086
Investments in real estate debt	2,101,147	696,052
Fair Value, Recurring
Assets
Investments in unconsolidated real estate affiliates	3,801,703	1,742,086
Investments in real estate debt	1,705,886	619,476
Total	5,516,488	2,378,769
Liabilities:
DST financing obligation	350,125	52,123
Total	375,330	56,675
Interest rate hedging derivatives | Fair Value, Recurring
Assets
Asset Derivatives	725	13,546
Liabilities:
Liability Derivative	10,572	1,922
Foreign currency hedging derivatives | Fair Value, Recurring
Assets
Asset Derivatives	8,174	3,661
Liabilities:
Liability Derivative	14,633	2,630
Level 2 | Fair Value, Recurring
Assets
Investments in unconsolidated real estate affiliates	0	0
Investments in real estate debt	853,531	505,537
Total	862,430	522,744
Liabilities:
DST financing obligation	0	0
Total	25,205	4,552
Level 2 | Interest rate hedging derivatives | Fair Value, Recurring
Assets
Asset Derivatives	725	13,546
Liabilities:
Liability Derivative	10,572	1,922
Level 2 | Foreign currency hedging derivatives | Fair Value, Recurring
Assets
Asset Derivatives	8,174	3,661
Liabilities:
Liability Derivative	14,633	2,630
Level 3 | Fair Value, Recurring
Assets
Investments in unconsolidated real estate affiliates	3,801,703	1,742,086
Investments in real estate debt	852,355	113,939
Total	4,654,058	1,856,025
Liabilities:
DST financing obligation	350,125	52,123
Total	350,125	52,123
Level 3 | Interest rate hedging derivatives | Fair Value, Recurring
Assets
Asset Derivatives	0	0
Liabilities:
Liability Derivative	0	0
Level 3 | Foreign currency hedging derivatives | Fair Value, Recurring
Assets
Asset Derivatives	0	0
Liabilities:
Liability Derivative	$ 0	$ 0