v3.26.1
Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Company's Financial Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Carrying Value    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Cash and cash equivalents $ 1,239,480 $ 139,825
Carrying Value | Level III    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Secured debt arrangements, net 0 (6,268,550)
Debt related to real estate owned, held for investment, net (371,428) (424,703)
Carrying Value | Level III | Secured Debt    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term loans, net 0 (727,533)
Carrying Value | Level III | Senior Notes    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term loans, net 0 (497,226)
Carrying Value | Level III | Commercial Mortgage Portfolio Segment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Commercial mortgage loans, net 0 8,712,018
Carrying Value | Level III | Subordinate Mortgage Portfolio Segment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Subordinate loans, net 0 62,198
Estimate of Fair Value Measurement    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Cash and cash equivalents 1,239,480 139,825
Estimate of Fair Value Measurement | Level III    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Secured debt arrangements, net 0 (6,268,550)
Debt related to real estate owned, held for investment, net (371,428) (424,703)
Estimate of Fair Value Measurement | Level III | Secured Debt    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term loans, net 0 (750,914)
Estimate of Fair Value Measurement | Level III | Senior Notes    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term loans, net 0 (485,625)
Estimate of Fair Value Measurement | Level III | Commercial Mortgage Portfolio Segment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Commercial mortgage loans, net 0 8,650,253
Estimate of Fair Value Measurement | Level III | Subordinate Mortgage Portfolio Segment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Subordinate loans, net $ 0 $ 62,198