v3.25.2
Real Estate Loan Investments, at Fair Value - Schedule of Real Estate Loan Investments (Details)
$ in Thousands
6 Months Ended
Jun. 30, 2025
USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Debt Instrument, Description of Variable Rate Basis one-month Term Secured Overnight Financing Rate (“SOFR”) plus
Original Loan Amount $ 127,453
Current Principal Outstanding 127,453
Fair Value 127,453
Unfunded Commitments $ 6,708
Multifamily  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Property Type Multifamily
SEC Schedule, 12-29, Investment in Mortgage Loans on Real Estate, Location of Property [Extensible Enumeration] stpr:MD
Origination Date May 29, 2025
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Debt Instrument, Description of Variable Rate Basis 1M SOFR
Stated Interest Rate 2.65%
Original Loan Amount $ 65,150
Current Principal Outstanding 65,150
Fair Value 65,150
Unfunded Commitments $ 6,050
Payment Terms Monthly
Current Maturity Date Jun. 01, 2027
Maximum Maturity Date Jun. 01, 2030
Multifamily  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Property Type Multifamily
SEC Schedule, 12-29, Investment in Mortgage Loans on Real Estate, Location of Property [Extensible Enumeration] stpr:FL
Origination Date Jun. 06, 2025
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Debt Instrument, Description of Variable Rate Basis 1M SOFR
Stated Interest Rate 2.65%
Original Loan Amount $ 41,500
Current Principal Outstanding 41,500
Fair Value $ 41,500
Payment Terms Monthly
Current Maturity Date Jul. 01, 2028
Maximum Maturity Date Jul. 01, 2030
Senior Housing  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Property Type SeniorHousing
SEC Schedule, 12-29, Investment in Mortgage Loans on Real Estate, Location of Property [Extensible Enumeration] stpr:WI
Origination Date May 30, 2025
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Debt Instrument, Description of Variable Rate Basis 1M SOFR
Stated Interest Rate 4.55%
Original Loan Amount $ 1,333
Current Principal Outstanding 1,333
Fair Value 1,333
Unfunded Commitments $ 290
Payment Terms Monthly
Current Maturity Date May 30, 2027
Maximum Maturity Date May 30, 2028
Senior Housing  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Property Type SeniorHousing
SEC Schedule, 12-29, Investment in Mortgage Loans on Real Estate, Location of Property [Extensible Enumeration] stpr:KY
Origination Date Jun. 06, 2025
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Debt Instrument, Description of Variable Rate Basis 1M SOFR
Stated Interest Rate 11.74%
Original Loan Amount $ 4,970
Current Principal Outstanding 4,970
Fair Value 4,970
Unfunded Commitments $ 251
Payment Terms Monthly
Current Maturity Date Dec. 06, 2027
Maximum Maturity Date Dec. 06, 2028
Senior Housing  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Property Type SeniorHousing
SEC Schedule, 12-29, Investment in Mortgage Loans on Real Estate, Location of Property [Extensible Enumeration] stpr:NY
Origination Date Jun. 27, 2025
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Debt Instrument, Description of Variable Rate Basis 1M SOFR
Stated Interest Rate 4.25%
Original Loan Amount $ 8,500
Current Principal Outstanding 8,500
Fair Value 8,500
Unfunded Commitments $ 118
Payment Terms Monthly
Current Maturity Date Jun. 26, 2028
Maximum Maturity Date Jun. 26, 2028
Senior Housing  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Property Type SeniorHousing
SEC Schedule, 12-29, Investment in Mortgage Loans on Real Estate, Location of Property [Extensible Enumeration] stpr:NC
Origination Date Jun. 27, 2025
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Debt Instrument, Description of Variable Rate Basis 1M SOFR
Stated Interest Rate 12.13%
Original Loan Amount $ 6,000
Current Principal Outstanding 6,000
Fair Value $ 6,000
Payment Terms Monthly
Current Maturity Date Jun. 27, 2028
Maximum Maturity Date Jun. 27, 2029