Investments in Real Estate Debt - Schedule of Real Estate-Related Securities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Fair Value
Real estate-related securities as of December 31, 2025	$ 2,101,147
Real estate-related securities as of March 31, 2026	2,250,418
CMBS
Amortized Cost Basis
Real estate-related securities as of December 31, 2025	849,316
Face value of real estate-related securities acquired	199,260
Sale of real estate-related securities	(55,967)
Realized gain on sale of real estate-related securities	834
Interest income associated with real estate-related securities	491
Unrealized loss on real estate securities	0
Real estate-related securities as of March 31, 2026	993,934
Gain/(Loss)
Real estate-related securities as of December 31, 2025	4,215
Face value of real estate-related securities acquired	0
Sale of real estate-related securities	0
Realized gain on sale of real estate-related securities	0
Interest income associated with real estate-related securities	0
Unrealized loss on real estate securities	(5,030)
Real estate-related securities as of March 31, 2026	(815)
Fair Value
Real estate-related securities as of December 31, 2025	853,531
Face value of real estate-related securities acquired	199,260
Sale of real estate-related securities	(55,967)
Realized gain on sale of real estate-related securities	834
Interest income associated with real estate-related securities	491
Unrealized loss on real estate securities	(5,030)
Real estate-related securities as of March 31, 2026	$ 993,119