Investment Portfolio Financing - Schedule of Secured Credit Agreements Secured by Mortgage Loan Investments, CRE Debt Securities and Counterparty Concentration Risks (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Dec. 31, 2024 |
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| Repurchase Agreement Counterparty [Line Items] | ||||
| Amount payable | $ 3,037,239 | |||
| Accrued interest payable | [1] | 6,416 | $ 6,655 | |
| Unamortized deferred financing costs | 7,300 | 600 | ||
| Secured Credit Agreements and Secured Credit Facilities | ||||
| Repurchase Agreement Counterparty [Line Items] | ||||
| Commitment amount | 1,700,000 | 1,700,000 | ||
| UPB of collateral | 282,407 | 917,041 | ||
| Amortized cost of collateral | 284,186 | 920,775 | ||
| Amount payable | 157,015 | 586,313 | ||
| Net counterparty exposure | $ 127,171 | $ 334,462 | ||
| Days to extended maturity | 875 days | 1100 days | ||
| Commercial Mortgage Loans | ||||
| Repurchase Agreement Counterparty [Line Items] | ||||
| Accrued interest and fees receivable | $ 1,800 | $ 5,200 | ||
| Premium, discount and origination fees | 100 | 1,400 | ||
| Accrued interest payable | 300 | 1,300 | ||
| Unamortized deferred financing costs | 400 | 800 | ||
| Goldman Sachs Bank | Commercial Mortgage Loans | ||||
| Repurchase Agreement Counterparty [Line Items] | ||||
| Commitment amount | 500,000 | 500,000 | ||
| UPB of collateral | 186,156 | 485,557 | ||
| Amortized cost of collateral | 187,553 | 489,121 | ||
| Amount payable | 86,106 | 261,705 | ||
| Net counterparty exposure | $ 101,447 | $ 227,416 | ||
| Percent of stockholders' equity | 9.30% | 20.40% | ||
| Days to extended maturity | 1146 days | 1327 days | ||
| Wells Fargo | Commercial Mortgage Loans | ||||
| Repurchase Agreement Counterparty [Line Items] | ||||
| Commitment amount | $ 500,000 | $ 500,000 | ||
| UPB of collateral | 33,251 | 295,833 | ||
| Amortized cost of collateral | 33,315 | 295,815 | ||
| Amount payable | 20,384 | 226,028 | ||
| Net counterparty exposure | $ 12,931 | $ 69,787 | ||
| Percent of stockholders' equity | 1.20% | 6.30% | ||
| Days to extended maturity | 889 days | 1070 days | ||
| Barclays | Commercial Mortgage Loans | ||||
| Repurchase Agreement Counterparty [Line Items] | ||||
| Commitment amount | $ 500,000 | $ 500,000 | ||
| UPB of collateral | 63,000 | 84,827 | ||
| Amortized cost of collateral | 63,318 | 84,750 | ||
| Amount payable | 50,525 | 62,681 | ||
| Net counterparty exposure | $ 12,793 | $ 22,069 | ||
| Percent of stockholders' equity | 1.20% | 2.00% | ||
| Days to extended maturity | 409 days | 590 days | ||
| Bank of America | Commercial Mortgage Loans | ||||
| Repurchase Agreement Counterparty [Line Items] | ||||
| Commitment amount | $ 200,000 | $ 200,000 | ||
| UPB of collateral | 0 | 50,824 | ||
| Amortized cost of collateral | 0 | 51,089 | ||
| Amount payable | 0 | 35,899 | ||
| Net counterparty exposure | $ 0 | $ 15,190 | ||
| Percent of stockholders' equity | 0.00% | 1.40% | ||
| Days to extended maturity | 341 days | 522 days | ||
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