REAL ESTATE-RELATED SECURITIES AND OTHER - Schedule of Activity for the Real Estate-Related Securities (Details) - USD ($) $ in Thousands	6 Months Ended
Jun. 30, 2025	Jun. 30, 2024
Amortized Cost Basis
Beginning balance	$ 568,432
Accretion of discount on real estate-related securities	733
Accretion of interest income on CLO subordinated note	2,037	$ 0
Sale of real estate-related securities	(44,026)
Capitalized interest income on real estate-related securities	626
Principal payments received on real estate-related securities	(2,747)
Proceeds from the repayment on the CLO subordinated note	3,884	0
Ending balance	521,171
Unrealized (Loss) Gain
Beginning balance	(112,542)
Sale of real estate-related securities	410
Unrealized loss on real estate-related securities and other, net and reclassified to CECL	71,022	22,200
Ending balance	(42,729)
CECL
Beginning balance	(110,062)
Provision for credit losses	(73,225)
Ending balance	(183,287)
Fair Value
Beginning balance	345,828
Accretion of discount on real estate-related securities	733
Accretion of interest income on CLO subordinated note	2,037	0
Sale of real estate-related securities	(43,616)
Capitalized interest income on real estate-related securities	626
Principal payments received on real estate-related securities	(2,747)
Proceeds from the repayment on the CLO subordinated note	3,884	0
Unrealized loss on real estate-related securities and other, net and reclassified to CECL	71,022	$ 22,200
Provision for credit losses	(73,225)
Ending balance	295,155
CLO subordinated note
Amortized Cost Basis
Proceeds from the repayment on the CLO subordinated note	(3,884)
CECL
Ending balance	0
Fair Value
Proceeds from the repayment on the CLO subordinated note	(3,884)
Ending balance	23,089
CMBS and CLO Subordinated Note
Unrealized (Loss) Gain
Unrealized loss on real estate-related securities and other, net and reclassified to CECL	1,619
Fair Value
Unrealized loss on real estate-related securities and other, net and reclassified to CECL	1,619
Ending balance	$ 261,794

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