v3.25.2
Collateralized Loan Obligations - Consolidated VIE (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Variable Interest Entity [Line Items]    
Restricted cash $ 23,058 $ 19,813
Interest receivable 15,204 12,600
Total assets [1] 3,700,591 2,508,194
Collateralized loan obligations, at fair value 1,001,129 0
Interest payable 8,851 8,344
Total liabilities [1] 2,909,949 1,921,478
Commercial Real Estate Loan Investments    
Variable Interest Entity [Line Items]    
Fair Value 3,550,378 $ 2,391,078
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Restricted cash 150  
Interest receivable 3,918  
Total assets 1,224,172  
Collateralized loan obligations, at fair value 1,001,129  
Interest payable 2,086  
Total liabilities 1,003,215  
Variable Interest Entity, Primary Beneficiary | Commercial Real Estate Loan Investments    
Variable Interest Entity [Line Items]    
Fair Value $ 1,220,104  
[1]
(1) The condensed consolidated balance sheet at June 30, 2025 includes assets of $1.2 billion and liabilities of $1.0 billion of a consolidated collateralized loan obligation, which is a variable interest entity (“VIE”). The VIE’s assets can only be used to settle the obligations of the VIE. See Note 6, “Collateralized Loan Obligations”, for additional information.