v3.25.2
Fair Value Measurements - Fair Value of Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans receivable, at fair value $ 146,163  
Real estate securities, at fair value 57,426 $ 0
Total 203,589  
Repurchase agreements, at fair value 135,876  
Total 135,876  
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans receivable, at fair value 0  
Real estate securities, at fair value 0  
Total 0  
Repurchase agreements, at fair value 0  
Total 0  
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans receivable, at fair value 0  
Real estate securities, at fair value 57,426  
Total 57,426  
Repurchase agreements, at fair value 0  
Total 0  
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans receivable, at fair value 146,163  
Real estate securities, at fair value 0  
Total 146,163  
Repurchase agreements, at fair value 135,876  
Total $ 135,876