Investments in Real Estate Debt - Schedule of Real Estate-Related Securities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)
Fair Value
Real estate-related securities as of December 31, 2025	$ 2,101,147
Real estate-related securities as of June 30, 2026	1,831,813
CMBS
Amortized Cost Basis
Real estate-related securities as of December 31, 2025	849,316
Face value of real estate-related securities acquired	559,491
Sale of real estate-related securities	(242,268)
Realized gain on sale of real estate-related securities	2,598
Interest income associated with real estate-related securities	1,015
Unrealized loss on real estate securities	0
Real estate-related securities as of June 30, 2026	1,170,152
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	(744)
Real estate-related securities as of June 30, 2026	3,471
Fair Value
Real estate-related securities as of December 31, 2025	853,531
Face value of real estate-related securities acquired	559,491
Sale of real estate-related securities	(242,268)
Realized gain on sale of real estate-related securities	2,598
Interest income associated with real estate-related securities	1,015
Unrealized loss on real estate securities	(744)
Real estate-related securities as of June 30, 2026	$ 1,173,623