v3.26.1
Investments in Real Estate-Related and Other Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Debt and Equity Securities, FV-NI [Line Items]  
Summary of Investments in Real Estate-related and Other Securities
The following table details the Company’s investments in real estate debt ($ in thousands):
June 30, 2026December 31, 2025
Real Estate DebtNumber of PositionsCredit RatingWeighted-Average
Coupon		Weighted-Average Maturity DateCost BasisFair ValueCost BasisFair Value
Commercial Mortgage Loan4Not Rated
SOFR + 2.52%
December 15, 2027$304,600 $304,589 $224,600 $224,600 
Summary of Income Recognized from Investments in Real Estate-related and Other Securities
The following table details the amounts recognized for the Company's investments in real estate-related and other securities ($ in thousands):
For the Three Months Ended
June 30,		For the Six Months Ended
June 30,
2026202520262025
Interest income$256 $885 $507 $1,437 
Unrealized (loss) gain(96)(168)(324)361 
Realized gain— 336 — 336 
Total$160 $1,053 $183 $2,134 
CMBS  
Debt and Equity Securities, FV-NI [Line Items]  
Summary of Investments in Real Estate-related and Other Securities
The following table details the Company’s investments in real estate-related and other securities ($ in thousands):
June 30, 2026December 31, 2025
Real Estate-Related and Other SecuritiesWeighted-Average
 Coupon		Weighted-Average Maturity DateFace AmountCost
 Basis		Fair
 Value		Face AmountCost
 Basis		Fair
 Value
CMBS6.8%August 19, 2039$15,000 $15,107 $14,999 $15,000 $15,107 $15,323