v3.26.1
Commercial Real Estate Loan Investments - Schedule of Investments in Commercial Real Estate Loans (Details) - Commercial Real Estate [Member] - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Real Estate [Line Items]    
Loan amount [1] $ 3,080,833 $ 2,299,305
Outstanding principal 2,900,385 2,177,027
Fair value $ 2,900,385 2,177,027
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember  
Variable term of loan 1 month  
Weighted average rate floor 6.58%  
Senior Loans [Member]    
Real Estate [Line Items]    
Loan amount [1] $ 3,052,875 2,277,216
Outstanding principal 2,872,427 2,154,938
Fair value $ 2,872,427 $ 2,154,938
Weighted Average Interest Rate [2] 3.75% 3.71%
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember us-gaap:SecuredOvernightFinancingRateSofrMember
Weighted Average Maturity (years) 2 years 5 months 12 days 2 years 3 months 3 days
Weighted Average Maximum Maturity (years) [3] 4 years 1 month 28 days 4 years 1 month 13 days
Mezzanine Loans [Member]    
Real Estate [Line Items]    
Loan amount [1],[4] $ 27,958 $ 22,089
Outstanding principal [4] 27,958 22,089
Fair value [4] $ 27,958 $ 22,089
Weighted Average Interest Rate [2],[4] 4.07% 4.25%
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember us-gaap:SecuredOvernightFinancingRateSofrMember
Weighted Average Maturity (years) [4] 1 year 9 months 14 days 1 year
Weighted Average Maximum Maturity (years) [3],[4] 2 years 8 months 8 days 3 years
[1] Loan amount consists of outstanding principal balance plus unfunded loan commitments.
[2] Represents weighted average interest rate of the most recent interest period in effect for each loan as of period end. As of June 30, 2026, loans earn interest at the one-month term Secured Overnight Financing Rate (“SOFR”) plus a spread and are subject to a weighted average rate floor of 6.58%. Payment terms for all loans are interest only with principal due at maturity.
[3] Maximum maturity assumes all extension options are exercised by the borrower; however, loans may be repaid prior to such date. Extension options are subject to certain conditions as defined in the respective loan agreement.
[4] Mezzanine loans are subordinate to the Company’s senior loans to the same borrowers.