Real Estate Securities - Schedule of Carrying Value of AFS Securities by Type (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Investment Holdings [Line Items]
Amortized cost	$ 260,381	$ 191,438
Gross unrealized gains	31,334	26,631
Gross unrealized losses	(3,092)	(5,674)
Allowance for credit losses	(1,066)	(921)	$ (2,482)
Total Fair Value	287,557	211,474
Senior
Investment Holdings [Line Items]
Amortized cost	0	39,135
Gross unrealized gains	0	230
Gross unrealized losses	0	0
Allowance for credit losses	0	0
Total Fair Value	0	39,365
Mezzanine
Investment Holdings [Line Items]
Amortized cost	0	31,250
Gross unrealized gains	0	668
Gross unrealized losses	0	(51)
Allowance for credit losses	0	0
Total Fair Value	0	31,867
Subordinate
Investment Holdings [Line Items]
Amortized cost	260,381	121,053
Gross unrealized gains	31,334	25,733
Gross unrealized losses	(3,092)	(5,623)
Allowance for credit losses	(1,066)	(921)
Total Fair Value	$ 287,557	$ 140,242