v3.26.3
Segment Reporting - Schedule of Total Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Segment Reporting [Line Items]    
Total assets [1] $ 1,441,994 $ 1,200,916
Percentage of Total Assets 100.00% 100.00%
Operating Segments | Industrial    
Segment Reporting [Line Items]    
Total assets $ 309,995 $ 285,031
Percentage of Total Assets 21.00% 24.00%
Operating Segments | Private Real Estate Credit    
Segment Reporting [Line Items]    
Total assets $ 231,999 $ 138,248
Percentage of Total Assets 16.00% 12.00%
Operating Segments | Multifamily    
Segment Reporting [Line Items]    
Total assets $ 223,053 $ 227,748
Percentage of Total Assets 15.00% 19.00%
Operating Segments | Retail    
Segment Reporting [Line Items]    
Total assets $ 154,647 $ 61,065
Percentage of Total Assets 11.00% 5.00%
Operating Segments | Student Housing    
Segment Reporting [Line Items]    
Total assets $ 144,576 $ 146,950
Percentage of Total Assets 10.00% 12.00%
Operating Segments | Office    
Segment Reporting [Line Items]    
Total assets $ 85,653 $ 88,171
Percentage of Total Assets 6.00% 7.00%
Operating Segments | Self-Storage    
Segment Reporting [Line Items]    
Total assets $ 83,292 $ 70,420
Percentage of Total Assets 6.00% 6.00%
Operating Segments | Healthcare    
Segment Reporting [Line Items]    
Total assets $ 73,490 $ 59,524
Percentage of Total Assets 5.00% 5.00%
Operating Segments | Real Estate-Related Securities    
Segment Reporting [Line Items]    
Total assets $ 42,461 $ 33,433
Percentage of Total Assets 3.00% 2.00%
Corporate and Other    
Segment Reporting [Line Items]    
Total assets $ 92,828 $ 90,326
Percentage of Total Assets 6.00% 8.00%
[1] Includes restricted assets of consolidated variable interest entities at September 30, 2026 and December 31, 2025 of $659.8 million and $489.7 million, respectively. See Note 16 — “Variable Interest Entities.”