Commercial Real Estate Loan Investments - Investments in Commercial Real Estate Loans (Details) - Commercial Real Estate Loan Investments - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2025 |
Dec. 31, 2024 |
|
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loan amount | $ 3,851,789 | $ 2,688,628 |
Principal Balance Outstanding | 3,546,862 | 2,390,362 |
Fair Value | $ 3,550,378 | $ 2,391,078 |
Weighted Average Interest Rate (in percent) | 7.13% | 7.38% |
Weighted Average Life (years) | 3 years 11 months 19 days | 4 years 3 months 7 days |
Senior loans | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loan amount | $ 3,821,789 | $ 2,658,628 |
Principal Balance Outstanding | 3,525,717 | 2,385,124 |
Fair Value | $ 3,529,233 | $ 2,385,840 |
Weighted Average Interest Rate (in percent) | 7.10% | 7.37% |
Weighted Average Life (years) | 3 years 11 months 19 days | 4 years 3 months 3 days |
Mezzanine loans | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loan amount | $ 30,000 | $ 30,000 |
Principal Balance Outstanding | 21,145 | 5,238 |
Fair Value | $ 21,145 | $ 5,238 |
Weighted Average Interest Rate (in percent) | 12.07% | 12.23% |
Weighted Average Life (years) | 4 years 4 months 2 days | 4 years 10 months 2 days |