Schedule IV Mortgage Loans on Real Estate - Summary of Mortgage Loans (Details) - USD ($)
|
12 Months Ended |
|
|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
$ 1,451,231,000
|
$ 876,425,000
|
|
| Carrying Amount |
|
1,392,131,000
|
$ 828,215,000
|
$ 158,288,000
|
| Principal Amount of Delinquent Loans |
|
0
|
|
|
| Tax basis of loans |
|
1,400,000,000
|
|
|
| Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
1,394,131,000
|
|
|
| Carrying Amount |
[1] |
1,392,131,000
|
|
|
| Principal Amount of Delinquent Loans |
|
0
|
|
|
| Multifamily - Hayward, CA [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
168,034,000
|
|
|
| Carrying Amount |
|
$ 167,430,000
|
|
|
| Weighted Average Interest Rate |
[2] |
7.06%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Dec. 09, 2028
|
|
|
| Year Originated |
|
2023
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Industrial - United Kingdom (Various) [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
200,110,000
|
|
|
| Carrying Amount |
|
$ 200,091,000
|
|
|
| Weighted Average Interest Rate |
[2],[5] |
6.76%
|
|
|
| Payment Terms |
[3] |
Quarterly; I/O
|
|
|
| Maturity Date |
[4],[5] |
Feb. 15, 2029
|
|
|
| Year Originated |
|
2024
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - New York, NY [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
20,000,000
|
|
|
| Carrying Amount |
|
$ 19,948,000
|
|
|
| Weighted Average Interest Rate |
[2] |
7.48%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Jul. 09, 2029
|
|
|
| Year Originated |
[5] |
2024
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - Berkeley, CA [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
88,000,000
|
|
|
| Carrying Amount |
|
$ 87,797,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.98%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Aug. 07, 2029
|
|
|
| Year Originated |
|
2024
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Industrial - Nashville, TN & Atlanta, GA [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
181,976,000
|
|
|
| Carrying Amount |
|
$ 180,854,000
|
|
|
| Weighted Average Interest Rate |
[2] |
7.08%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Oct. 09, 2029
|
|
|
| Year Originated |
|
2024
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - Spring, TX [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
32,800,000
|
|
|
| Carrying Amount |
|
$ 32,800,000
|
|
|
| Weighted Average Interest Rate |
[2] |
7.17%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Jan. 09, 2030
|
|
|
| Year Originated |
|
2024
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Multifamily - Grand Prairie, TX [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
$ 45,420,000
|
|
|
| Carrying Amount |
|
$ 45,420,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.72%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Mar. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Industrial - Mooresville, NC [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
35,000,000
|
|
|
| Carrying Amount |
|
$ 35,000,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.70%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Apr. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - San Antonio, TX [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
39,530,000
|
|
|
| Carrying Amount |
|
$ 39,530,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.70%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Apr. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - Phoenix, AZ [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
34,585,000
|
|
|
| Carrying Amount |
|
$ 34,585,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.60%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
May 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Industrial - Canoga Park, CA [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
21,726,000
|
|
|
| Carrying Amount |
|
$ 21,726,000
|
|
|
| Weighted Average Interest Rate |
[2] |
7.04%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
May 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - Fort Collins, CO [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
81,750,000
|
|
|
| Carrying Amount |
|
$ 81,750,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.41%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Aug. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Industrial - Alpharetta, GA [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
49,500,000
|
|
|
| Carrying Amount |
|
$ 49,500,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.44%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Oct. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - Pensacola, FL [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
41,000,000
|
|
|
| Carrying Amount |
|
$ 41,000,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.41%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Oct. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - New York, NY [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
64,000,000
|
|
|
| Carrying Amount |
|
$ 64,000,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.28%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Nov. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - Santa Clara, CA [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
87,500,000
|
|
|
| Carrying Amount |
|
$ 87,500,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.26%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Dec. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Multifamily - Orlando, FL [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
63,800,000
|
|
|
| Carrying Amount |
|
$ 63,800,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.12%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Dec. 09, 2030
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
| Industrial - Washington, D.C. [Member] | Mortgage Loans on Real Estate Senior Loans [Member] |
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
| Loan Amount |
|
139,400,000
|
|
|
| Carrying Amount |
|
$ 139,400,000
|
|
|
| Weighted Average Interest Rate |
[2] |
6.13%
|
|
|
| Payment Terms |
[3] |
Monthly; I/O
|
|
|
| Maturity Date |
[4] |
Jan. 09, 2031
|
|
|
| Year Originated |
|
2025
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
|
|
|
| Principal Amount of Delinquent Loans |
|
$ 0
|
|
|
|
|