Real Estate Securities - Schedule of Carrying Value of AFS Securities by Type (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investment Holdings [Line Items]
Amortized cost	$ 191,438	$ 79,635
Gross unrealized gains	26,631	16,973
Gross unrealized losses	(5,674)	(6,753)
Allowance for credit losses	(921)	(2,482)	$ (2,540)
Total Fair Value	211,474	87,373
Senior
Investment Holdings [Line Items]
Amortized cost	39,135	0
Gross unrealized gains	230	0
Gross unrealized losses	0	0
Allowance for credit losses	0	0
Total Fair Value	39,365	0
Mezzanine
Investment Holdings [Line Items]
Amortized cost	31,250	0
Gross unrealized gains	668	0
Gross unrealized losses	(51)	0
Allowance for credit losses	0	0
Total Fair Value	31,867	0
Subordinate
Investment Holdings [Line Items]
Amortized cost	121,053	79,635
Gross unrealized gains	25,733	16,973
Gross unrealized losses	(5,623)	(6,753)
Allowance for credit losses	(921)	(2,482)
Total Fair Value	$ 140,242	$ 87,373