v3.26.1
Debt - Schedule of Debt (Details)
 3 Months Ended 6 Months Ended 12 Months Ended
May 27, 2026
USD ($)
extension
May 07, 2026
extension
Jun. 30, 2026
USD ($)
agreement
Jun. 30, 2026
USD ($)
extension
agreement
Dec. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
Sep. 17, 2021
USD ($)
Fixed Rate              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured notes           $ 82,000,000.0  
Interest rate, stated percentage           8.25%  
Floating Rate              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured notes           $ 25,000,000.0  
Interest rate, effective percentage     4.00% 4.00%      
Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     $ 4,375,000,000 $ 4,375,000,000 $ 4,000,000,000    
Unsecured debt, amount outstanding     $ 802,380,000 802,380,000 1,087,087,000    
Interest Expense       $ 33,214,000 $ 53,500,000    
Ending Weighted Average Interest Rate     5.62% 5.62% 5.70%    
Mortgage note payable              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured debt, amount outstanding     $ 24,186,000 $ 24,186,000 $ 23,998,000    
Interest Expense       $ 767,000 $ 1,783,000    
Ending Weighted Average Interest Rate     5.88% 5.88% 6.87%    
Mortgage note payable | Industrial | Jeffersonville, GA              
Assets Sold under Agreements to Repurchase [Line Items]              
Principal amount             $ 113,600,000
Mortgage note payable | September 2021 Mortgage Note Payable, Eliminated in Consolidation | Industrial | Jeffersonville, GA | Franklin BSP Realty Trust, Inc              
Assets Sold under Agreements to Repurchase [Line Items]              
Principal amount             $ 89,400,000
Other financings              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured debt, amount outstanding     $ 12,865,000 $ 12,865,000 $ 12,865,000    
Interest Expense       $ 388,000 $ 783,000    
Ending Weighted Average Interest Rate     6.00% 6.00% 6.00%    
Number of note-on-note financings | agreement     1 1      
Unsecured Debt              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured debt, amount outstanding     $ 189,500,000 $ 189,500,000 $ 189,500,000    
Interest Expense       $ 7,838,000 $ 12,808,000    
Ending Weighted Average Interest Rate     7.74% 7.74% 7.81%    
Interest paid on unsecured debt     $ 1,500,000 $ 3,100,000      
Unsecured Debt | Unsecured Senior Notes I              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured debt, amount outstanding     107,000,000 107,000,000 $ 107,000,000    
Interest Expense       4,761,000 6,158,000    
Unsecured Debt | Junior Note I              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured debt, amount outstanding     $ 17,500,000 17,500,000 17,500,000    
Interest Expense       $ 675,000 $ 1,458,000    
Ending Weighted Average Interest Rate     7.43% 7.43% 7.60%    
Unsecured Debt | Junior Note II              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured debt, amount outstanding     $ 40,000,000 $ 40,000,000 $ 40,000,000    
Interest Expense       $ 1,478,000 $ 3,195,000    
Ending Weighted Average Interest Rate     7.23% 7.23% 7.28%    
Unsecured Debt | Junior Note III              
Assets Sold under Agreements to Repurchase [Line Items]              
Unsecured debt, amount outstanding     $ 25,000,000 $ 25,000,000 $ 25,000,000    
Interest Expense       $ 924,000 $ 1,997,000    
Ending Weighted Average Interest Rate     7.23% 7.23% 7.28%    
Secured debt              
Assets Sold under Agreements to Repurchase [Line Items]              
Advance rate of mortgage loan (percent)       100.00%      
Secured debt | Minimum              
Assets Sold under Agreements to Repurchase [Line Items]              
Advance rate of mortgage loan (percent)       60.00%      
Secured debt | Maximum              
Assets Sold under Agreements to Repurchase [Line Items]              
Advance rate of mortgage loan (percent)       75.00%      
Repo Facility | JPM Repo Facility | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     $ 750,000,000 $ 750,000,000 $ 500,000,000    
Unsecured debt, amount outstanding     $ 481,069,000 481,069,000 439,408,000    
Interest Expense       $ 18,280,000 $ 18,107,000    
Ending Weighted Average Interest Rate     5.84% 5.84% 6.04%    
Number of extension options | extension   1          
Extension period on initial maturity date   1 year          
Repo Facility | Atlas Repo Facility | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     $ 350,000,000 $ 350,000,000 $ 350,000,000    
Unsecured debt, amount outstanding     $ 77,878,000 77,878,000 150,744,000    
Interest Expense       $ 5,918,000 $ 10,598,000    
Ending Weighted Average Interest Rate     6.26% 6.26% 6.35%    
Repo Facility | WF Repo Facility | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     $ 250,000,000 $ 250,000,000 $ 250,000,000    
Unsecured debt, amount outstanding     0 0 75,172,000    
Interest Expense       $ 2,214,000 $ 1,749,000    
Ending Weighted Average Interest Rate         5.22%    
Repo Facility | WF Repo Facility | Secured debt              
Assets Sold under Agreements to Repurchase [Line Items]              
Number of extension options | extension       3      
Extension period on initial maturity date       1 year      
Repo Facility | Barclays Revolver Facility | Secured debt              
Assets Sold under Agreements to Repurchase [Line Items]              
Number of extension options | extension       1      
Extension period on initial maturity date       1 year      
Repo Facility | Barclays Repo Facility | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     500,000,000 $ 500,000,000 $ 500,000,000    
Unsecured debt, amount outstanding     0 0 82,602,000    
Interest Expense       1,856,000 $ 8,889,000    
Ending Weighted Average Interest Rate         5.59%    
Repo Facility | MS Repo Facility | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity $ 150,000,000.0   150,000,000 150,000,000      
Unsecured debt, amount outstanding     0 0      
Interest Expense       0      
Number of extension options | extension 2            
Extension period on initial maturity date 1 year            
Initial maturity period 3 years            
Repo Facility | Churchill Repo Facility | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity         $ 0    
Unsecured debt, amount outstanding         0    
Interest Expense         555,000    
Repo Facility | Fifth Third Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity         100,000,000    
Unsecured debt, amount outstanding         15,000,000    
Interest Expense         1,265,000    
Repo Facility | PNC WH Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity         500,000,000    
Unsecured debt, amount outstanding         47,924,000    
Interest Expense         $ 1,628,000    
Ending Weighted Average Interest Rate         4.99%    
Repo Facility | ASAP WH Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity         $ 100,000,000    
Unsecured debt, amount outstanding         0    
Interest Expense         0    
Revolver Facility | Barclays Revolver Facility | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     100,000,000 100,000,000 100,000,000    
Unsecured debt, amount outstanding     0 0 0    
Interest Expense       62,000 438,000    
Revolver Facility | JPM WH Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity         700,000,000    
Unsecured debt, amount outstanding         222,831,000    
Interest Expense         $ 5,892,000    
Ending Weighted Average Interest Rate         5.04%    
Line of Credit | BAML WH Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     450,000,000 450,000,000 $ 500,000,000    
Unsecured debt, amount outstanding     $ 13,442,000 13,442,000 9,399,000    
Interest Expense       $ 1,044,000 $ 1,210,000    
Ending Weighted Average Interest Rate     4.92% 4.92% 5.17%    
Line of Credit | Fifth Third WH Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     $ 400,000,000 $ 400,000,000 $ 400,000,000    
Unsecured debt, amount outstanding     $ 56,427,000 56,427,000 44,007,000    
Interest Expense       $ 521,000 $ 3,169,000    
Ending Weighted Average Interest Rate     4.92% 4.92% 5.02%    
Line of Credit | Fifth Third Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     $ 125,000,000 $ 125,000,000      
Unsecured debt, amount outstanding     0 0      
Interest Expense       946,000      
Ending Weighted Average Interest Rate         6.53%    
Line of Credit | JPM WH Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     700,000,000 700,000,000      
Unsecured debt, amount outstanding     $ 127,720,000 127,720,000      
Interest Expense       $ 1,546,000      
Ending Weighted Average Interest Rate     5.00% 5.00%      
Line of Credit | PNC WH Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     $ 500,000,000 $ 500,000,000      
Unsecured debt, amount outstanding     $ 45,844,000 45,844,000      
Interest Expense       $ 827,000      
Ending Weighted Average Interest Rate     4.95% 4.95%      
Line of Credit | ASAP WH Line of Credit | Line of Credit              
Assets Sold under Agreements to Repurchase [Line Items]              
Repo and revolving credit facilities, commercial mortgage loans, capacity     $ 100,000,000 $ 100,000,000      
Unsecured debt, amount outstanding     $ 0 0      
Interest Expense       $ 0      
Line of Credit | ASAP WH Line of Credit | Line of Credit | Secured Overnight Financing Rate (SOFR)              
Assets Sold under Agreements to Repurchase [Line Items]              
Weighted Average Spread       1.50%      
Debt Instrument, Interest Rate Floor       0.25%