v3.25.2
Investments in Real Estate-Related and Other Securities - Summary of Investments in Real Estate-related and Other Securities (Details) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Dec. 31, 2024
CMBS    
Debt and Equity Securities, FV-NI [Line Items]    
Weighted-Average Coupon Spread 4.40%  
Weighted-Average Maturity Date Apr. 22, 2035  
Face Amount $ 40,000 $ 5,800
Cost Basis 38,280 5,797
Fair Value $ 38,858 5,829
U.S. Government Securities    
Debt and Equity Securities, FV-NI [Line Items]    
Weighted-Average Maturity Date [1] Apr. 17, 2025  
Face Amount [1] $ 0 595
Cost Basis [1] 0 582
Fair Value [1] 0 588
Investments in Real Estate-related and Other Securities    
Debt and Equity Securities, FV-NI [Line Items]    
Face Amount 40,000 6,395
Cost Basis 38,280 6,379
Fair Value $ 38,858 $ 6,417
[1] Includes $0.5 million of securities pledged as collateral related to the treasury note futures contracts as of December 31, 2024.