v3.26.3
Investments in Real Estate Debt, at Fair Value - Schedule of Real Estate Investment (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Investments [Abstract]        
Interest income $ 76,310 $ 106,881 $ 229,164 $ 339,758
Unrealized (loss) gain (12,300) 37,331 (3,633) 119,164
Realized loss (4,575) (2,607) (6,134) (17,326)
Total 59,435 141,605 219,397 441,596
Net realized and unrealized gain (loss) on derivatives 288 1,124 1,942 (10,158)
Net realized and unrealized gain (loss) on secured financings of investments in real estate debt 409 375 77 (17,310)
Other expense (34) (708) (875) (5,200)
Total income from investments in real estate debt $ 60,098 $ 142,396 $ 220,541 $ 408,928