v3.25.4
Transactions With Related Parties - Affiliate Transactions (Details)
$ in Thousands, € in Millions, £ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
loan
Sep. 30, 2025
USD ($)
Jun. 30, 2025
USD ($)
loan
Dec. 31, 2024
USD ($)
loan
Sep. 30, 2024
USD ($)
Sep. 30, 2024
EUR (€)
Sep. 30, 2024
GBP (£)
Dec. 31, 2025
USD ($)
loan
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Mar. 31, 2025
USD ($)
Sep. 30, 2024
EUR (€)
Sep. 30, 2024
GBP (£)
Dec. 31, 2021
EUR (€)
Dec. 31, 2019
EUR (€)
Dec. 31, 2018
GBP (£)
Related Party Transaction [Line Items]                                
Face amount of loans $ 18,154,768             $ 18,154,768                
Investment in unconsolidated entities               207,119 $ 7,200 $ 0            
Origination and other fees received on loans receivable               70,713 31,693 17,992            
Book Value $ 217,488     $ 4,452       217,488 4,452 0            
Repayment of loan participations               $ 104,028 235,960 0            
Bank Loan Portfolio Joint Venture                                
Related Party Transaction [Line Items]                                
Ownership percentage 35.00%             35.00%                
Book Value $ 111,010     $ 0       $ 111,010 $ 0              
Bank Loan Portfolio Joint Venture 1                                
Related Party Transaction [Line Items]                                
Investment in unconsolidated entities     $ 57,600                          
Ownership percentage     29.00%                          
Bank Loan Portfolio Joint Venture 2                                
Related Party Transaction [Line Items]                                
Investment in unconsolidated entities   $ 44,700                            
Ownership percentage   50.00%                            
Net Lease Joint Venture                                
Related Party Transaction [Line Items]                                
Ownership percentage 75.00%     75.00%       75.00% 75.00%              
Book Value $ 106,478     $ 4,452       $ 106,478 $ 4,452 $ 0            
Securitized debt obligations, net                                
Related Party Transaction [Line Items]                                
Face Value 2,149,496     1,936,967       2,149,496 1,936,967              
Principal Balance, collateral assets 2,622,021     2,552,403       2,622,021 2,552,403              
B-8 Term Loan | Secured term loans, net                                
Related Party Transaction [Line Items]                                
Maximum borrowing capacity 700,000             700,000                
B-6 Term Loan | Secured term loans, net                                
Related Party Transaction [Line Items]                                
Maximum borrowing capacity 1,000,000   $ 1,000,000         1,000,000                
B-5 Term Loan | Secured term loans, net                                
Related Party Transaction [Line Items]                                
Maximum borrowing capacity       650,000         650,000              
December 2024 | Senior secured notes, net                                
Related Party Transaction [Line Items]                                
Face Value       $ 450,000         450,000              
2025 FL5 Underlying Collateral Assets | Securitized debt obligations, net                                
Related Party Transaction [Line Items]                                
Principal Balance, collateral assets                     $ 1,000,000          
B-7 Term Loan | Secured term loans, net                                
Related Party Transaction [Line Items]                                
Maximum borrowing capacity $ 453,100 $ 453,100           453,100                
Related Party                                
Related Party Transaction [Line Items]                                
Face amount of loans   606,000 $ 1,400,000   $ 94,400               £ 303.5 € 350.0 € 350.0 £ 148.7
Related party transaction, interest in loan, percentage         17.00% 17.00% 17.00%                  
Selling loan amount | €           € 232.0                    
Remaining loan amount in new lenders | €                       € 347.0        
Repayment of loan participations         $ 46,400                      
Related Party | Senior Participations                                
Related Party Transaction [Line Items]                                
Proceeds of loan participations | £             £ 100.0                  
Related Party | Senior Loans                                
Related Party Transaction [Line Items]                                
Face amount of loans         $ 560,000                      
Agency Multifamily Lending Partnership | Related Party                                
Related Party Transaction [Line Items]                                
Number of loans referred | loan       3                        
Origination and other fees received on loans receivable       $ 217                        
Blackstone-Advised Investment Vehicles, or the Funds                                
Related Party Transaction [Line Items]                                
Proceeds from sale of assets                 59,000              
Blackstone-Advised Investment Vehicles, or the Funds | Senior Loans, Blackstone-Advised Investment Vehicle                                
Related Party Transaction [Line Items]                                
Number of loans modified | loan     3                          
Blackstone-Advised Investment Vehicles, or the Funds | Performing Loans, Blackstone-Advised Investment Vehicle                                
Related Party Transaction [Line Items]                                
Origination and other fees received on loans receivable               $ 899,100 98,600              
Number of loans count | loan 5             5                
Blackstone-Advised Investment Vehicles, or the Funds | Performing Loan                                
Related Party Transaction [Line Items]                                
Origination and other fees received on loans receivable               $ 148,800                
Blackstone-Advised Investment Vehicles, or the Funds | Related Party                                
Related Party Transaction [Line Items]                                
Capital commitment $ 75,000                              
Blackstone-Advised Investment Vehicles, or the Funds | Related Party | Senior Loans                                
Related Party Transaction [Line Items]                                
Face Value 1,700,000             $ 1,700,000                
Count, financing provided | loan               10                
Blackstone-Advised Investment Vehicles, or the Funds | Related Party | Mezzanine Loan                                
Related Party Transaction [Line Items]                                
Face Value 122,100             $ 122,100                
Count, financing provided | loan               4                
Blackstone-Advised Investment Vehicles, or the Funds | Related Party | B-8 Term Loan | Secured term loans, net                                
Related Party Transaction [Line Items]                                
Principal Balance, collateral assets $ 63,000             $ 63,000                
Blackstone-Advised Investment Vehicles, or the Funds | Related Party | B-6 Term Loan | Secured term loans, net                                
Related Party Transaction [Line Items]                                
Principal Balance, collateral assets     $ 83,900                          
Blackstone-Advised Investment Vehicles, or the Funds | Related Party | B-5 Term Loan | Secured term loans, net                                
Related Party Transaction [Line Items]                                
Principal Balance, collateral assets       62,500         62,500              
Blackstone-Advised Investment Vehicles, or the Funds | Related Party | December 2024 | Senior secured notes, net                                
Related Party Transaction [Line Items]                                
Principal Balance, collateral assets       $ 80,000         $ 80,000              
Blackstone-Advised Investment Vehicles, or the Funds | Related Party | 2025 FL5 Underlying Collateral Assets | Securitized debt obligations, net                                
Related Party Transaction [Line Items]                                
Principal Balance, collateral assets                     $ 75,000          
Blackstone-Advised Investment Vehicles, or the Funds | Related Party | B-7 Term Loan | Secured term loans, net                                
Related Party Transaction [Line Items]                                
Principal Balance, collateral assets   $ 33,000