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Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Company's Financial Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Carrying Value    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Cash and cash equivalents $ 177,623 $ 317,396
Carrying Value | Level III    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Secured debt arrangements, net (6,213,188) (4,814,973)
Debt related to real estate owned, held for investment, net (376,504) (324,587)
Carrying Value | Level III | Secured Debt    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term loans, net (729,416) (754,210)
Carrying Value | Level III | Senior Notes    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term loans, net (496,826) (496,433)
Carrying Value | Level III | Commercial Mortgage Portfolio Segment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Commercial mortgage loans, net 8,479,438 6,715,347
Carrying Value | Level III | Subordinate Mortgage Portfolio Segment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Subordinate loans, net 145,472 388,809
Estimate of Fair Value Measurement    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Cash and cash equivalents 177,623 317,396
Estimate of Fair Value Measurement | Level III    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Secured debt arrangements, net (6,213,188) (4,814,973)
Debt related to real estate owned, held for investment, net (376,504) (324,587)
Estimate of Fair Value Measurement | Level III | Secured Debt    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term loans, net (750,938) (757,772)
Estimate of Fair Value Measurement | Level III | Senior Notes    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term loans, net (473,750) (432,500)
Estimate of Fair Value Measurement | Level III | Commercial Mortgage Portfolio Segment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Commercial mortgage loans, net 8,346,330 6,616,694
Estimate of Fair Value Measurement | Level III | Subordinate Mortgage Portfolio Segment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Subordinate loans, net $ 145,472 $ 388,780