Investments in Real Estate Debt, at Fair Value - Schedule of Collateral Type of Properties Securing Investments in Real Estate Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 4,005,113	$ 4,311,720
Fair Value	$ 3,828,678	$ 4,133,770
Percentage Based on Fair Value	100.00%	100.00%
Rental Housing
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 1,523,836	$ 1,377,438
Fair Value	$ 1,512,140	$ 1,374,338
Percentage Based on Fair Value	39.00%	33.00%
Industrial
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 1,059,088	$ 1,580,056
Fair Value	$ 1,055,998	$ 1,571,783
Percentage Based on Fair Value	28.00%	38.00%
Net Lease
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 489,718	$ 884,434
Fair Value	$ 489,495	$ 885,742
Percentage Based on Fair Value	13.00%	21.00%
Office
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 311,917	$ 349,362
Fair Value	$ 162,214	$ 192,799
Percentage Based on Fair Value	4.00%	5.00%
Data Centers
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 76,222	$ 0
Fair Value	$ 75,899	$ 0
Percentage Based on Fair Value	2.00%	0.00%
Hospitality
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 96,748	$ 67,048
Fair Value	$ 86,219	$ 56,730
Percentage Based on Fair Value	2.00%	1.00%
Diversified
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 329,480	$ 29,054
Fair Value	$ 328,507	$ 28,073
Percentage Based on Fair Value	9.00%	1.00%
Other
Debt and Equity Securities, FV-NI [Line Items]
Cost Basis	$ 118,104	$ 24,328
Fair Value	$ 118,206	$ 24,305
Percentage Based on Fair Value	3.00%	1.00%