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Secured Debt, Net - Schedule of All in Cost of Secured Credit Facilities (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2025 | Dec. 31, 2024
Schedule Of All In Cost Of Secured Credit Facilities [Line Items] |  |
Total borrowings | $ 13,037,822 |
Secured debt, net | Secured debt, net |  |
Schedule Of All In Cost Of Secured Credit Facilities [Line Items] |  |
New Financings | 2,200,000 |
Collateral | 2,900,000 |
Secured debt, net | Secured debt, net | Secured credit facilities |  |
Schedule Of All In Cost Of Secured Credit Facilities [Line Items] |  |
New Financings | 2,183,266 | $ 614,141
Total borrowings | $ 9,548,332 | $ 9,705,529
Wtd. avg. all-in cost (percentage) | 1.82% | 1.92%
Collateral | $ 14,083,177 | $ 14,807,821
Wtd. avg. all-in yield (percentage) | 3.35% | 3.58%
Net interest margin (percentage) | 1.53% | 1.66%
Secured debt, net | Secured debt, net | Secured credit facilities | + 1.50% or less |  |
Schedule Of All In Cost Of Secured Credit Facilities [Line Items] |  |
New Financings | $ 1,385,800 | $ 165,616
Total borrowings | $ 4,547,118 | $ 3,976,192
Wtd. avg. all-in cost (percentage) | 1.54% | 1.53%
Collateral | $ 6,600,493 | $ 6,185,925
Wtd. avg. all-in yield (percentage) | 2.99% | 3.18%
Net interest margin (percentage) | 1.45% | 1.65%
Secured debt, net | Secured debt, net | Secured credit facilities | + 1.51% to + 1.75% |  |
Schedule Of All In Cost Of Secured Credit Facilities [Line Items] |  |
New Financings | $ 555,478 | $ 74,118
Total borrowings | $ 2,564,711 | $ 2,238,376
Wtd. avg. all-in cost (percentage) | 1.75% | 1.78%
Collateral | $ 3,375,095 | $ 3,140,937
Wtd. avg. all-in yield (percentage) | 3.48% | 3.52%
Net interest margin (percentage) | 1.73% | 1.74%
Secured debt, net | Secured debt, net | Secured credit facilities | + 1.76% to + 2.00% |  |
Schedule Of All In Cost Of Secured Credit Facilities [Line Items] |  |
New Financings | $ 104,841 | $ 0
Total borrowings | $ 935,067 | $ 969,541
Wtd. avg. all-in cost (percentage) | 2.10% | 2.09%
Collateral | $ 1,766,876 | $ 1,802,431
Wtd. avg. all-in yield (percentage) | 3.28% | 3.67%
Net interest margin (percentage) | 1.18% | 1.58%
Secured debt, net | Secured debt, net | Secured credit facilities | + 2.01% or more |  |
Schedule Of All In Cost Of Secured Credit Facilities [Line Items] |  |
New Financings | $ 137,147 | $ 374,407
Total borrowings | $ 1,501,436 | $ 2,521,420
Wtd. avg. all-in cost (percentage) | 2.63% | 2.61%
Collateral | $ 2,340,713 | $ 3,678,528
Wtd. avg. all-in yield (percentage) | 4.24% | 4.31%
Net interest margin (percentage) | 1.61% | 1.70%

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