v3.26.1
Subsequent Events (Details)
 11 Months Ended 12 Months Ended
Mar. 26, 2026
USD ($)
Property
shares
Mar. 20, 2026
USD ($)
Property
Mar. 11, 2026
USD ($)
Property
Feb. 09, 2026
USD ($)
Property
Jan. 02, 2026
USD ($)
shares
Aug. 13, 2024
USD ($)
Dec. 31, 2023
USD ($)
Property
Dec. 31, 2025
USD ($)
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
shares
Jan. 29, 2026
USD ($)
Nov. 20, 2025
USD ($)
Jul. 25, 2025
USD ($)
Apr. 11, 2025
USD ($)
Subsequent Event [Line Items]                            
Proceeds from issuance of common shares             $ 118,775,000 $ 539,935,000 $ 559,029,000          
Common shares issued             118,683,000 602,274,000 677,568,000          
Non-cash compensation expense               300,000 300,000          
Management fee             $ 0 12,072,000 3,557,000          
Proceeds from term loan facility $ 22,500,000                          
Credit Facility | Line of Credit | Minimum                            
Subsequent Event [Line Items]                            
Maximum Facility Size                           $ 1,000,000,000
Current capacity for facility                         $ 1,075,000,000.000 $ 900,000,000
Percentage borrowing base advance rate                           65.00%
Credit Facility | Line of Credit | Maximum                            
Subsequent Event [Line Items]                            
Maximum Facility Size                           $ 1,500,000,000
Basis spread on variable rate (as a percent)           0.90%                
Current capacity for facility                         1,275,000,000 $ 1,100,000,000
Percentage borrowing base advance rate                           60.00%
Secured Revolving Credit Facility | Credit Facility | Line of Credit                            
Subsequent Event [Line Items]                            
Maximum Facility Size               1,347,500,000 [1] 677,500,000 [2]          
Current capacity for facility           $ 120,000,000           $ 2,500,000,000    
Secured Revolving Credit Facility | Credit Facility | Line of Credit | Minimum                            
Subsequent Event [Line Items]                            
Unused commitment fee percentage           0.15%                
Current capacity for facility                       1,047,500,000 892,500,000 $ 755,000,000
Secured Revolving Credit Facility | Credit Facility | Line of Credit | Maximum                            
Subsequent Event [Line Items]                            
Unused commitment fee percentage           0.25%                
Current capacity for facility                       1,347,500,000 1,047,500,000.0000 892,500,000
Standby Letters of Credit | Credit Facility | Line of Credit                            
Subsequent Event [Line Items]                            
Current capacity for facility           $ 25,000,000             25,000,000 25,000,000
Term Loan Facility | Credit Facility | Line of Credit                            
Subsequent Event [Line Items]                            
Maximum Facility Size               302,500,000 122,500,000          
Current capacity for facility           $ 5,000,000                
Term Loan Facility | Credit Facility | Line of Credit | Minimum                            
Subsequent Event [Line Items]                            
Current capacity for facility                       227,500,000 182,500,000 145,000,000
Term Loan Facility | Credit Facility | Line of Credit | Maximum                            
Subsequent Event [Line Items]                            
Current capacity for facility                       $ 302,500,000 $ 227,500,000 $ 182,500,000
Affiliated Entity                            
Subsequent Event [Line Items]                            
Management fee               $ 12,100,000 $ 3,600,000          
Number of Properties | Property             0              
Common Stock                            
Subsequent Event [Line Items]                            
Shares | shares               63,040,000 68,278,000 11,868,000        
Class S                            
Subsequent Event [Line Items]                            
Shares | shares               15,000 0 0        
Class F-S                            
Subsequent Event [Line Items]                            
Shares | shares               20,924,000 2,980,000 0        
Class F-S | Common Stock                            
Subsequent Event [Line Items]                            
Common shares issued               $ 209,000 $ 30,000          
Class F-I                            
Subsequent Event [Line Items]                            
Shares | shares               27,104,000 32,529,000 0        
Class F-I | Common Stock                            
Subsequent Event [Line Items]                            
Common shares issued               $ 271,000 $ 325,000          
Class D-S                            
Subsequent Event [Line Items]                            
Shares | shares [3]               0 0 0        
Class D-S | Common Stock                            
Subsequent Event [Line Items]                            
Common shares issued                 $ 0          
Class E                            
Subsequent Event [Line Items]                            
Shares | shares               2,324,000 323,000 202,000        
Class E | Affiliated Entity                            
Subsequent Event [Line Items]                            
Shares issued during period (in shares) | shares               67,171 281,963          
Class E | Common Stock                            
Subsequent Event [Line Items]                            
Common shares issued             $ 2,000   $ (2,000)          
Class A                            
Subsequent Event [Line Items]                            
Shares issued during period (in shares) | shares               491,925,000            
Class A | Affiliated Entity                            
Subsequent Event [Line Items]                            
Shares issued during period (in shares) | shares               1,012,567            
Class I                            
Subsequent Event [Line Items]                            
Shares | shares               12,673,000 0 0        
Class I | Common Stock                            
Subsequent Event [Line Items]                            
Common shares issued               $ 127,000            
Subsequent Event                            
Subsequent Event [Line Items]                            
Shares | shares 16,609,907                          
Proceeds from issuance of common shares $ 172,505,000                          
Repayment of outstanding Secured Revolving Credit Facility 163,000,000                          
Subsequent Event | Maine                            
Subsequent Event [Line Items]                            
Payments for acquisitions       $ 1,700,000                    
Subsequent Event | New York                            
Subsequent Event [Line Items]                            
Payments for acquisitions     $ 47,100,000                      
Subsequent Event | Alabama                            
Subsequent Event [Line Items]                            
Payments for acquisitions   $ 5,900,000                        
Subsequent Event | France                            
Subsequent Event [Line Items]                            
Payments for acquisitions $ 63,800,000                          
Subsequent Event | Retail Property Acquisitions | Maine                            
Subsequent Event [Line Items]                            
Number of Properties | Property       1                    
Date of Acquisition Property       Feb. 09, 2026                    
Subsequent Event | March 2026 Industrial Property Acquisition | New York                            
Subsequent Event [Line Items]                            
Number of Properties | Property     1                      
Date of Acquisition Property     Mar. 11, 2026                      
Subsequent Event | March 2026 Industrial Property Acquisition | France                            
Subsequent Event [Line Items]                            
Number of Properties | Property 10                          
Subsequent Event | March 2026 Retail Properties Acquisition | New York                            
Subsequent Event [Line Items]                            
Number of Properties | Property   3                        
Subsequent Event | Credit Facility | Line of Credit | Minimum                            
Subsequent Event [Line Items]                            
Current capacity for facility                     $ 1,650,000,000      
Percentage borrowing base advance rate                     15.00%      
Subsequent Event | Credit Facility | Line of Credit | Maximum                            
Subsequent Event [Line Items]                            
Current capacity for facility                     $ 1,800,000,000      
Percentage borrowing base advance rate                     30.00%      
Subsequent Event | Management Fees                            
Subsequent Event [Line Items]                            
Common shares issued $ 357,525                          
Subsequent Event | Secured Revolving Credit Facility                            
Subsequent Event [Line Items]                            
Proceeds from secured revolving credit facility $ 87,400,000                          
Subsequent Event | Secured Revolving Credit Facility | Credit Facility | Line of Credit | Minimum                            
Subsequent Event [Line Items]                            
Current capacity for facility                     $ 1,347,500,000      
Subsequent Event | Secured Revolving Credit Facility | Credit Facility | Line of Credit | Maximum                            
Subsequent Event [Line Items]                            
Current capacity for facility                     1,475,000,000      
Subsequent Event | Term Loan Facility | Credit Facility | Line of Credit | Minimum                            
Subsequent Event [Line Items]                            
Current capacity for facility                     302,500,000      
Subsequent Event | Term Loan Facility | Credit Facility | Line of Credit | Maximum                            
Subsequent Event [Line Items]                            
Current capacity for facility                     $ 325,000,000      
Subsequent Event | Class S                            
Subsequent Event [Line Items]                            
Shares | shares 4,204,633                          
Proceeds from issuance of common shares $ 43,454,000                          
Subsequent Event | Class F-S                            
Subsequent Event [Line Items]                            
Shares | shares 1,355,058                          
Proceeds from issuance of common shares $ 14,039,000                          
Subsequent Event | Class F-I                            
Subsequent Event [Line Items]                            
Shares | shares 4,655,274                          
Proceeds from issuance of common shares $ 48,687,000                          
Subsequent Event | Class D-S                            
Subsequent Event [Line Items]                            
Shares | shares 191,516                          
Proceeds from issuance of common shares $ 2,043,000                          
Subsequent Event | Class E                            
Subsequent Event [Line Items]                            
Shares | shares 9,303                          
Proceeds from issuance of common shares $ 100,000                          
Non-cash compensation expense         $ 300,000                  
Subsequent Event | Class E | Common Stock                            
Subsequent Event [Line Items]                            
Aggregate number of shares issued and sold for payment of compensation expense (in shares) | shares         28,139                  
Subsequent Event | Class A                            
Subsequent Event [Line Items]                            
Management fee $ 3,900,000                          
Subsequent Event | Class A | Allocation Fees Member                            
Subsequent Event [Line Items]                            
Shares | shares 768,181                          
Subsequent Event | Class A | Common Stock | FNLR OP LP                            
Subsequent Event [Line Items]                            
Performance participation allocation fees         $ 8,400,000                  
Subsequent Event | Class I                            
Subsequent Event [Line Items]                            
Shares | shares 6,194,123                          
Proceeds from issuance of common shares $ 64,182,000                          
[1] Includes a $25.0 million sublimit of standby letters of credit.
[2] Includes a $25.0 million sublimit of standby letters of credit.
[3] Class D shares were renamed to Class D-S shares effective November 14, 2024.