v3.26.1
SUBSEQUENT EVENTS (Details)
$ / shares in Units, $ in Thousands, shares in Millions
3 Months Ended 12 Months Ended
Mar. 27, 2026
USD ($)
property
loan
$ / shares
shares
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2025
USD ($)
$ / shares
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Mar. 19, 2026
$ / shares
Jun. 30, 2025
$ / shares
Subsequent Event [Line Items]              
Redemptions of common stock     $ 37,054 $ 44,979 $ 44,445    
Stock redeemed (in shares) | shares   44.2          
NAV per share (in usd per share) | $ / shares   $ 5.14 $ 5.14        
Share price (in usd per share) | $ / shares   $ 5.22 $ 5.22       $ 5.22
Gain on disposition of real estate, net     $ 8,183 6,605 53,341    
Investment in first mortgage loans     650,784 $ 162,892 $ 477,275    
Credit facilities              
Subsequent Event [Line Items]              
Line of credit, maximum borrowing capacity   $ 512,000 $ 512,000        
Credit facilities              
Subsequent Event [Line Items]              
Debt instrument, basis spread on variable rate     2.875%        
Debt instrument, basis spread on variable additional rate     2.00%        
Wells Fargo - CLR | Credit facilities              
Subsequent Event [Line Items]              
Line of credit, maximum borrowing capacity   $ 250,000 $ 250,000        
Subsequent Event              
Subsequent Event [Line Items]              
Redemptions of common stock (in shares) | shares 1.5            
Redemptions of common stock $ 7,900            
Common stock, redemption price per share (in usd per share) | $ / shares $ 5.22            
NAV per share (in usd per share) | $ / shares           $ 5.14  
Share price (in usd per share) | $ / shares $ 5.14            
Subsequent Event | Credit facilities              
Subsequent Event [Line Items]              
Line of credit, maximum borrowing capacity $ 277,500            
Subsequent Event | Repurchase facilities              
Subsequent Event [Line Items]              
Repaid borrowings 86,900            
Subsequent Event | Loan Facility              
Subsequent Event [Line Items]              
Amount Financed $ 25,000            
Subsequent Event | Credit facilities              
Subsequent Event [Line Items]              
Debt instrument, basis spread on variable rate 2.10%            
Debt instrument, basis spread on variable additional rate 2.00%            
Subsequent Event | Wells Fargo | Repurchase facilities              
Subsequent Event [Line Items]              
Repaid borrowings $ 167,000            
Subsequent Event | Wells Fargo - CLR | Credit facilities              
Subsequent Event [Line Items]              
Line of credit, maximum borrowing capacity 500,000            
Subsequent Event | Mass Mutual | Note payable              
Subsequent Event [Line Items]              
Repaid borrowings 126,500            
Subsequent Event | Barclays and J.P. Morgan | Repurchase facilities              
Subsequent Event [Line Items]              
Amount Financed 8,500            
Subsequent Event | Corporate Senior Loans              
Subsequent Event [Line Items]              
Debt securities, settled $ 37,400            
Number of loans | loan 4            
Subsequent Event | First mortgage loans              
Subsequent Event [Line Items]              
Number of originated loan investments | loan 1            
Initial Principal Balance $ 56,000            
Investment in first mortgage loans $ 10,500            
Number of funded loan investments | loan 6            
Principle payment received $ 443,600            
Number of financing receivables, principal payments received | loan 5            
Subsequent Event | Other | Disposed by sale              
Subsequent Event [Line Items]              
Number of properties disposed | property 1            
Disposal group total consideration $ 13,200            
Aggregate gross sales price 12,000            
Gain on disposition of real estate, net $ 3,800