Summary of Significant Accounting Policies and Estimates - Schedule of Assets Measured at Fair Value on A Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets:
Investments in real estate debt	$ 2,250,418	$ 2,101,147
Fair Value, Recurring
Assets:
Investments in unconsolidated real estate affiliates	4,238,148	3,801,703
Investments in real estate debt	1,955,970	1,705,886
Derivative assets	38,990	8,899
Total	6,233,108	5,516,488
Liabilities:
Derivatives liabilities	10,992	25,205
DST financing obligation	562,587	350,125
Total	573,579	375,330
Fair Value, Recurring | Level 2
Assets:
Investments in unconsolidated real estate affiliates	0	0
Investments in real estate debt	993,119	853,531
Derivative assets	38,990	8,899
Total	1,032,109	862,430
Liabilities:
Derivatives liabilities	10,992	25,205
DST financing obligation	0	0
Total	10,992	25,205
Fair Value, Recurring | Level 3
Assets:
Investments in unconsolidated real estate affiliates	4,238,148	3,801,703
Investments in real estate debt	962,851	852,355
Derivative assets	0	0
Total	5,200,999	4,654,058
Liabilities:
Derivatives liabilities	0	0
DST financing obligation	562,587	350,125
Total	$ 562,587	$ 350,125