Real Estate Securities - Schedule of Fair Value of AFS Securities by Type (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Debt and Equity Securities, FV-NI [Line Items]
AFS	$ 287,347	$ 287,557
Subordinate
Debt and Equity Securities, FV-NI [Line Items]
AFS	287,347
Other third-party securities | Subordinate
Debt and Equity Securities, FV-NI [Line Items]
AFS	185,928	185,737
Sequoia securities | Subordinate
Debt and Equity Securities, FV-NI [Line Items]
AFS	$ 101,419	$ 101,820