v3.26.1
Debt - Schedule of Repurchase Agreements (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Assets Sold under Agreements to Repurchase [Line Items]    
Real estate securities, available for sale, measured at fair value [1] $ 178,712 $ 151,662
MRAs    
Assets Sold under Agreements to Repurchase [Line Items]    
Amount Outstanding 212,168 187,371
Interest Expense $ 2,308 $ 8,014
Weighted Average Interest Rate 4.58% 4.65%
Weighted Average Days to Maturity 14 days 16 days
MRAs | Securities Sold under Agreements to Repurchase | Asset Pledged as Collateral    
Assets Sold under Agreements to Repurchase [Line Items]    
Collateral Pledged $ 252,660 $ 225,844
Secured debt | Securities Sold under Agreements to Repurchase | Asset Pledged as Collateral | U.S. Bank National Association    
Assets Sold under Agreements to Repurchase [Line Items]    
Real estate securities, available for sale, measured at fair value 73,900 74,200
JP Morgan Securities LLC | MRAs    
Assets Sold under Agreements to Repurchase [Line Items]    
Amount Outstanding 22,875 7,856
Interest Expense $ 188 $ 1,278
Weighted Average Interest Rate 4.63% 4.63%
Weighted Average Days to Maturity 9 days 29 days
JP Morgan Securities LLC | MRAs | Securities Sold under Agreements to Repurchase | Asset Pledged as Collateral    
Assets Sold under Agreements to Repurchase [Line Items]    
Collateral Pledged $ 26,587 $ 9,254
Wells Fargo Securities, LLC | MRAs    
Assets Sold under Agreements to Repurchase [Line Items]    
Amount Outstanding 0 0
Interest Expense $ 0 $ 2,288
Weighted Average Interest Rate 0.00% 0.00%
Weighted Average Days to Maturity 0 days 0 days
Wells Fargo Securities, LLC | MRAs | Securities Sold under Agreements to Repurchase | Asset Pledged as Collateral    
Assets Sold under Agreements to Repurchase [Line Items]    
Collateral Pledged $ 0 $ 0
Barclays Capital Inc. | MRAs    
Assets Sold under Agreements to Repurchase [Line Items]    
Amount Outstanding 24,139 25,044
Interest Expense $ 293 $ 1,510
Weighted Average Interest Rate 4.77% 4.83%
Weighted Average Days to Maturity 22 days 25 days
Barclays Capital Inc. | MRAs | Securities Sold under Agreements to Repurchase | Asset Pledged as Collateral    
Assets Sold under Agreements to Repurchase [Line Items]    
Collateral Pledged $ 28,676 $ 31,386
Lucid Prime Fund | MRAs    
Assets Sold under Agreements to Repurchase [Line Items]    
Amount Outstanding 65,073 54,718
Interest Expense $ 699 $ 1,644
Weighted Average Interest Rate 4.62% 4.67%
Weighted Average Days to Maturity 16 days 15 days
Lucid Prime Fund | MRAs | Securities Sold under Agreements to Repurchase | Asset Pledged as Collateral    
Assets Sold under Agreements to Repurchase [Line Items]    
Collateral Pledged $ 77,853 $ 65,324
Santander Securities | MRAs    
Assets Sold under Agreements to Repurchase [Line Items]    
Amount Outstanding 100,081 99,753
Interest Expense $ 1,128 $ 1,294
Weighted Average Interest Rate 4.50% 4.60%
Weighted Average Days to Maturity 13 days 14 days
Santander Securities | MRAs | Securities Sold under Agreements to Repurchase | Asset Pledged as Collateral    
Assets Sold under Agreements to Repurchase [Line Items]    
Collateral Pledged $ 119,544 $ 119,880
[1] Includes pledged assets of $178.7 million and $151.7 million as of March 31, 2026 and December 31, 2025, respectively.