v3.25.2
Summary of Significant Accounting Policies - Schedule of Quantitative Inputs and Assumptions (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Investment, Variable Interest Rate, Type [Extensible Enumeration] SOFR
Level 3 | Mandatorily Redeemable Instruments  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Discount interest rate, weighted average rate 7.33% [1]
Exit capitalization interest rate, weighted average rate 5.93% [1]
Market yield interest rate, weighted average rate 6.07% [1]
Mandatorily redeemable Class E units $ 105,913 [1]
Mandatorily redeemable Class E units, Valuation Technique [Extensible Enumeration] us-gaap:ValuationTechniqueDiscountedCashFlowMember
Mandatorily redeemable Class E units, Measurement Input [Extensible Enumeration] us-gaap:MeasurementInputDiscountRateMember
Level 3 | Investments in Real Estate Debt  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Investment in real estate loan $ 134,965
Investment in real estate loan, Valuation Technique [Extensible Enumeration] us-gaap:ValuationTechniqueDiscountedCashFlowMember
Investment in real estate loan, Measurement Input [Extensible Enumeration] us-gaap:MeasurementInputDiscountRateMember
Level 3 | Investments in Real Estate Debt | SOFR  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Weighted Average Rate Spread 2.99% [2]
[1]

(2) Mandatorily Redeemable Instruments are carried at the NAV of the Class E units and Class E shares, which is determined monthly in accordance with the Company's valuation guidelines.
[2]

(1) "SOFR" refers to the Secured Overnight Financing Rate, which was 4.32% at June 30, 2025.