v3.26.1
Real Estate Loan Investments, at Fair Value - Schedule of Real Estate Loan Investments (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Loan Amount $ 867,381 $ 618,547
Principal Balance Outstanding 793,499 561,965
Fair Value $ 793,499 $ 561,965
Period-end Weighted Average Rate 7.62% 7.70%
Weighted Average Life Remaining (years) 3 years 3 months 18 days 3 years 8 months 12 days
Senior Loans    
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Loan Amount $ 788,784 $ 566,200
Principal Balance Outstanding 716,521 511,237
Fair Value $ 716,521 $ 511,237
Period-end Weighted Average Rate 7.40% 7.43%
Weighted Average Life Remaining (years) 3 years 3 months 18 days 3 years 8 months 12 days
Subordinate Participation Interest    
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Loan Amount $ 63,033 $ 36,783
Principal Balance Outstanding 62,533 36,283
Fair Value $ 62,533 $ 36,283
Period-end Weighted Average Rate 8.24% 8.34%
Weighted Average Life Remaining (years) 3 years 7 months 6 days 4 years 1 month 6 days
Mezzanine Loans    
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Loan Amount $ 15,564 $ 15,564
Principal Balance Outstanding 14,445 14,445
Fair Value $ 14,445 $ 14,445
Period-end Weighted Average Rate 15.73% 15.73%
Weighted Average Life Remaining (years) 3 years 1 month 6 days 3 years 9 months 18 days