v3.25.2
Fair Value Measurement - Schedule of Unobservable Inputs and Valuation Techniques (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 1,275,931 [1],[2],[3],[4] $ 842,856 [5],[6],[7],[8]
Senior Mortgage    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 1,211,613 799,660
Mezzanine    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 25,408 14,204
Level 3    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 1,237,021 813,864
Level 3 | Senior Mortgage    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 1,211,613 799,660
Level 3 | Senior Mortgage | Recent Transaction    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 37,103 106,885
Level 3 | Senior Mortgage | DCF Method    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 1,174,510 $ 692,775
Level 3 | Senior Mortgage | DCF Method | Minimum | Discount Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0275 0.0265
Level 3 | Senior Mortgage | DCF Method | Maximum | Discount Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1548 0.0830
Level 3 | Senior Mortgage | DCF Method | Weighted Average | Discount Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0373 0.0346
Level 3 | Mezzanine    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 25,408 $ 14,204
Level 3 | Mezzanine | Recent Transaction    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 0 6,602
Level 3 | Mezzanine | DCF Method    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 25,408 $ 7,602
Level 3 | Mezzanine | DCF Method | Minimum | Discount Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.0690 0.0675
Level 3 | Mezzanine | DCF Method | Maximum | Discount Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1618 0.1275
Level 3 | Mezzanine | DCF Method | Weighted Average | Discount Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.1193 0.0878
[1] All debt investments are income-producing, unless otherwise noted.
[2] All investments are U.S. domiciled.
[3] All of the Company's investments, except the investments noted by this footnote, are qualifying assets under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company's total assets. As of June 30, 2025, qualifying assets represent 100.0% of the Company's total assets.
[4] All of the Company’s investments are Non-Control/Non-Affiliate investments. Non-Control/Non-Affiliate investments are defined as investments in which the Company own less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.
[5] All of the Company’s investments are Non-Control/Non-Affiliate investments. Non-Control/Non-Affiliate investments are defined as investments in which the Company own less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.
[6] All debt investments are income-producing, unless otherwise noted.
[7] All investments are U.S. domiciled.
[8] All of the Company's investments, except the investments noted by this footnote, are qualifying assets under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company's total assets. As of December 31, 2024, qualifying assets represent 100.0% of the Company's total assets.