Investments in Real Estate Debt - Schedule of Investments in Real Estate Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Fair Value	$ 2,250,418	$ 2,101,147
CMBS
Debt Instrument [Line Items]
Cost Basis	993,934	849,316
Fair Value	$ 993,119	$ 853,531
Fair Value, Recurring
Debt Instrument [Line Items]
Weighted average coupon	8.00%	8.00%
Face Amount	$ 1,952,608	$ 1,699,277
Cost Basis	1,944,003	1,694,047
Fair Value	$ 1,955,970	$ 1,705,886
Percentage Based on Fair Value	100.00%	100.00%
Fair Value, Recurring | Unrated
Debt Instrument [Line Items]
Cost Basis	$ 953,518	$ 848,178
Fair Value	$ 966,331	$ 855,802
Percentage Based on Fair Value	49.00%	50.00%
Fair Value, Recurring | Aaa
Debt Instrument [Line Items]
Cost Basis	$ 19,998	$ 19,999
Fair Value	$ 19,913	$ 20,024
Percentage Based on Fair Value	1.00%	1.00%
Fair Value, Recurring | Aa3
Debt Instrument [Line Items]
Cost Basis	$ 0	$ 0
Fair Value	$ 0	$ 0
Percentage Based on Fair Value	0.00%	0.00%
Fair Value, Recurring | A2
Debt Instrument [Line Items]
Cost Basis	$ 9,853	$ 9,853
Fair Value	$ 9,891	$ 9,906
Percentage Based on Fair Value	1.00%	1.00%
Fair Value, Recurring | A3
Debt Instrument [Line Items]
Cost Basis	$ 6,362	$ 6,363
Fair Value	$ 6,355	$ 6,381
Percentage Based on Fair Value	0.00%	0.00%
Fair Value, Recurring | Baa1
Debt Instrument [Line Items]
Cost Basis	$ 5,169	$ 5,169
Fair Value	$ 5,160	$ 5,174
Percentage Based on Fair Value	0.00%	0.00%
Fair Value, Recurring | Baa2
Debt Instrument [Line Items]
Cost Basis	$ 70,172	$ 0
Fair Value	$ 70,071	$ 0
Percentage Based on Fair Value	4.00%	0.00%
Fair Value, Recurring | Baa3
Debt Instrument [Line Items]
Cost Basis	$ 81,194	$ 51,591
Fair Value	$ 80,675	$ 51,637
Percentage Based on Fair Value	4.00%	3.00%
Fair Value, Recurring | Ba1
Debt Instrument [Line Items]
Cost Basis	$ 13,342	$ 1,856
Fair Value	$ 13,326	$ 1,867
Percentage Based on Fair Value	1.00%	0.00%
Fair Value, Recurring | Ba2
Debt Instrument [Line Items]
Cost Basis	$ 197,558	$ 270,013
Fair Value	$ 196,824	$ 271,579
Percentage Based on Fair Value	10.00%	16.00%
Fair Value, Recurring | Ba3
Debt Instrument [Line Items]
Cost Basis	$ 277,854	$ 197,084
Fair Value	$ 276,379	$ 196,270
Percentage Based on Fair Value	14.00%	12.00%
Fair Value, Recurring | B1
Debt Instrument [Line Items]
Cost Basis	$ 46,762	$ 49,838
Fair Value	$ 47,244	$ 51,039
Percentage Based on Fair Value	2.00%	3.00%
Fair Value, Recurring | B2
Debt Instrument [Line Items]
Cost Basis	$ 109,170	$ 81,050
Fair Value	$ 108,667	$ 81,090
Percentage Based on Fair Value	6.00%	5.00%
Fair Value, Recurring | B3
Debt Instrument [Line Items]
Cost Basis	$ 153,051	$ 153,053
Fair Value	$ 155,134	$ 155,117
Percentage Based on Fair Value	8.00%	9.00%
Fair Value, Recurring | CMBS
Debt Instrument [Line Items]
Weighted average coupon	4.00%	4.00%
Face Amount	$ 994,382	$ 850,286
Cost Basis	993,934	849,316
Fair Value	$ 993,119	$ 853,531
Fair Value, Recurring | Commercial Real Estate Loans
Debt Instrument [Line Items]
Weighted average coupon	8.00%	9.00%
Face Amount	$ 958,226	$ 848,991
Cost Basis	950,069	844,731
Fair Value	$ 962,851	$ 852,355