v3.26.3
Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Assets:    
Investments in real estate debt, at fair value $ 4,460,338 $ 4,133,770
Real estate loans held by consolidated securitization vehicles, at fair value 3,289,893 6,975,460
Investments in unconsolidated entities 3,724,022 3,843,300
Interest rate and foreign currency hedging derivatives 1,147,760 960,328
Liabilities:    
Senior obligations of consolidated securitization vehicles, at fair value 2,808,028 6,284,112
Interest rate and foreign currency hedging derivatives 14,082 24,274
Total    
Assets:    
Investments in real estate debt, at fair value 4,380,364 4,037,150
Real estate loans held by consolidated securitization vehicles, at fair value 3,289,893 6,975,460
Investments in unconsolidated entities 3,724,022 3,843,300
Interest rate and foreign currency hedging derivatives 1,147,760 960,328
Total 12,542,039 15,816,238
Liabilities:    
Senior obligations of consolidated securitization vehicles, at fair value 2,808,028 6,284,112
Interest rate and foreign currency hedging derivatives 14,082 24,274
Total 2,822,110 6,308,386
Level 1    
Assets:    
Investments in real estate debt, at fair value 0 0
Real estate loans held by consolidated securitization vehicles, at fair value 0 0
Investments in unconsolidated entities 0 0
Interest rate and foreign currency hedging derivatives 0 0
Total 0 0
Liabilities:    
Senior obligations of consolidated securitization vehicles, at fair value 0 0
Interest rate and foreign currency hedging derivatives 0 0
Total 0 0
Level 2    
Assets:    
Investments in real estate debt, at fair value 3,819,725 3,282,457
Real estate loans held by consolidated securitization vehicles, at fair value 3,289,893 6,975,460
Investments in unconsolidated entities 0 0
Interest rate and foreign currency hedging derivatives 1,147,760 960,328
Total 8,257,378 11,218,245
Liabilities:    
Senior obligations of consolidated securitization vehicles, at fair value 2,808,028 6,284,112
Interest rate and foreign currency hedging derivatives 14,082 24,274
Total 2,822,110 6,308,386
Level 3    
Assets:    
Investments in real estate debt, at fair value 560,639 754,693
Real estate loans held by consolidated securitization vehicles, at fair value 0 0
Investments in unconsolidated entities 3,724,022 3,843,300
Interest rate and foreign currency hedging derivatives 0 0
Total 4,284,661 4,597,993
Liabilities:    
Senior obligations of consolidated securitization vehicles, at fair value 0 0
Interest rate and foreign currency hedging derivatives 0 0
Total 0 0
Fair Value Measured at Net Asset Value Per Share    
Assets:    
Investments in real estate debt, at fair value $ 80,000 $ 96,600