v3.26.1
Investments in Real Estate Debt, at Fair Value - Schedule of Real Estate Investment (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investments [Abstract]        
Interest income $ 70,827 $ 119,519 $ 152,854 $ 232,877
Unrealized gain 17,498 40,521 8,667 81,833
Realized loss (5,787) (5,926) (1,559) (14,719)
Total 82,538 154,114 159,962 299,991
Net realized and unrealized gain (loss) on derivatives 387 (7,107) 1,654 (11,282)
Net realized and unrealized gain (loss) on secured financings of investments in real estate debt 453 (12,214) (332) (17,685)
Other expense (611) (1,139) (841) (4,492)
Total income from investments in real estate debt $ 82,767 $ 133,654 $ 160,443 $ 266,532