Investments in Real Estate Debt, at Fair Value - Schedule of Investments in Real Estate Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Debt and Equity Securities, FV-NI [Line Items]
Weighted Average Coupon	7.00%	7.80%
Face Amount	$ 4,021,363	$ 4,334,589
Cost Basis	4,005,113	4,311,720
Fair Value	$ 3,828,678	$ 4,133,770
Total real estate securities
Debt and Equity Securities, FV-NI [Line Items]
Weighted Average Coupon	6.80%	7.80%
Face Amount	$ 3,275,635	$ 3,450,585
Cost Basis	3,266,962	3,440,525
Fair Value	$ 3,083,410	$ 3,243,004
CMBS \| Total real estate securities
Debt and Equity Securities, FV-NI [Line Items]
Weighted Average Coupon	3.70%	4.40%
Face Amount	$ 2,884,573	$ 3,301,112
Cost Basis	2,879,290	3,294,039
Fair Value	$ 2,710,705	$ 3,113,235
RMBS \| Total real estate securities
Debt and Equity Securities, FV-NI [Line Items]
Weighted Average Coupon	5.70%	4.20%
Face Amount	$ 207,549	$ 94,799
Cost Basis	204,703	92,483
Fair Value	$ 189,896	$ 76,668
Corporate bonds \| Total real estate securities
Debt and Equity Securities, FV-NI [Line Items]
Weighted Average Coupon	2.40%	4.90%
Face Amount	$ 183,513	$ 54,674
Cost Basis	182,969	54,003
Fair Value	$ 182,809	$ 53,101
Commercial real estate loans \| Commercial real estate loans
Debt and Equity Securities, FV-NI [Line Items]
Weighted Average Coupon	4.60%	4.60%
Face Amount	$ 665,121	$ 795,157
Cost Basis	657,544	782,348
Fair Value	665,146	794,147
Other investments
Debt and Equity Securities, FV-NI [Line Items]
Face Amount	80,607	88,847
Cost Basis	80,607	88,847
Fair Value	80,122	96,619
CMBS, interest only securities \| Total real estate securities
Debt and Equity Securities, FV-NI [Line Items]
Face Amount	$ 100,000	$ 100,000