v3.26.3
Real Estate Portfolio - Schedule of Investment in Loans (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2026
Dec. 31, 2025
Sep. 30, 2025
Dec. 31, 2024
Loans and Leases Receivable Disclosure        
Principal Balance $ 3,162,465 $ 2,580,087    
Weighted Average Interest Rate 9.60% 9.10%    
Weighted Average Term 3 years 8 months 12 days 3 years 4 months 24 days    
Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 2,984,010 [1] $ 2,525,457 [1] $ 2,432,999 $ 1,651,533
Future Funding Commitments 965,563 623,495    
Senior Secured Notes        
Loans and Leases Receivable Disclosure        
Principal Balance   $ 83,406    
Weighted Average Interest Rate   11.00%    
Weighted Average Term   5 years 2 months 12 days    
Senior Secured Notes | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value   $ 81,033    
Future Funding Commitments   0    
Senior Secured Loans        
Loans and Leases Receivable Disclosure        
Principal Balance $ 1,347,567 $ 1,084,478    
Weighted Average Interest Rate 8.60% 8.30%    
Weighted Average Term 4 years 1 month 6 days 4 years 4 months 24 days    
Senior Secured Loans | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 1,233,029 $ 1,047,585    
Future Funding Commitments 162,452 399,942    
Mezzanine Loans and Preferred Equity        
Loans and Leases Receivable Disclosure        
Principal Balance $ 1,814,898 $ 1,412,203    
Weighted Average Interest Rate 10.40% 9.60%    
Weighted Average Term 3 years 4 months 24 days 2 years 6 months    
Mezzanine Loans and Preferred Equity | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 1,750,981 $ 1,396,839    
Future Funding Commitments $ 803,111 $ 223,553    
[1] As of September 30, 2026 and December 31, 2025, our Investments in leases - sales-type, Investments in leases - financing receivables, Investments in loans and securities, and Other assets (sales-type sub-leases) are net of allowance for credit losses of $1,282.4 million, $884.9 million, $159.0 million and $29.7 million, respectively, and $919.2 million, $769.9 million, $56.4 million and $23.9 million, respectively. Refer to Note 5 - Allowance for Credit Losses for further details.