Investments in Loans and Financing Receivables - Loans Receivables (Details) - Loans Receivable - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Balance	$ 2,730,400	$ 1,721,300
Total Carrying Value	2,672,200	1,682,100
Unfunded loan commitments	$ 390,100	$ 34,000
Weighted Average Term (Years)	3 years 10 months 24 days	4 years 6 months
Weighted Average Interest Rate	8.40%	8.80%
Accrued interest	$ 40,300	$ 27,800
Secured Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Balance	1,602,900	1,250,400
Total Carrying Value	1,554,100	1,214,100
Unfunded loan commitments	$ 72,300	$ 0
Weighted Average Term (Years)	4 years 3 months 18 days	4 years 7 months 6 days
Weighted Average Interest Rate	8.50%	8.80%
Construction Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Balance	$ 87,500
Total Carrying Value	88,700
Unfunded loan commitments	$ 177,100
Weighted Average Term (Years)	1 year 7 months 6 days
Weighted Average Interest Rate	8.30%
Mortgage Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Balance	$ 256,800	$ 256,200
Total Carrying Value	256,900	256,200
Unfunded loan commitments	$ 109,200	$ 34,000
Weighted Average Term (Years)	4 years 10 months 24 days	5 years 1 month 6 days
Weighted Average Interest Rate	7.60%	7.60%
Unsecured and Mezzanine Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Balance	$ 783,200	$ 214,700
Total Carrying Value	772,500	211,800
Unfunded loan commitments	$ 31,500	$ 0
Weighted Average Term (Years)	3 years	2 years 10 months 24 days
Weighted Average Interest Rate	8.60%	10.30%