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Segment Reporting - Schedule of Reportable Operating Segments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]    
Interest income $ 480,330 $ 408,495
Interest expense 403,797 342,603
Total Net Interest Income 76,533 65,892
Total Other Income/(Loss) 13,217 21,655
Management fee to affiliate 9,266 7,533
Non-investment related expenses [1] 10,819 10,620
Investment related expenses [1] 15,625 13,522
Transaction related expenses [1] 7,305 3,164
Total Expenses 43,015 34,839
Income/(loss) before equity in earnings/(loss) from affiliates 46,735 52,708
Equity in earnings/(loss) from affiliates 2,821 3,141
Net Income/(Loss) before Income Taxes 49,556 55,849
Income tax expense 888 112
Net Income/(Loss) 48,668 55,737
Dividends on preferred stock 21,242 19,353
Net Income/(Loss) Available to Common Stockholders 27,426 36,384
Unrealized gain (loss) on investments (6,249) 10,742
Other    
Segment Reporting, Asset Reconciling Item [Line Items]    
Interest income 3,259 4,226
Interest expense 10,190 12,147
Total Net Interest Income (6,931) (7,921)
Total Other Income/(Loss) 0 0
Management fee to affiliate 9,266 7,533
Non-investment related expenses 10,819 10,620
Investment related expenses 0 0
Transaction related expenses 10 120
Total Expenses 20,095 18,273
Income/(loss) before equity in earnings/(loss) from affiliates (27,026) (26,194)
Equity in earnings/(loss) from affiliates 0 0
Net Income/(Loss) before Income Taxes (27,026) (26,194)
Income tax expense 0 0
Net Income/(Loss) (27,026) (26,194)
Dividends on preferred stock 21,242 19,353
Net Income/(Loss) Available to Common Stockholders (48,268) (45,547)
Loans and Securities | Operating Segments    
Segment Reporting, Asset Reconciling Item [Line Items]    
Interest income 477,071 404,269
Interest expense 393,607 330,456
Total Net Interest Income 83,464 73,813
Total Other Income/(Loss) 13,217 21,655
Management fee to affiliate 0 0
Non-investment related expenses 0 0
Investment related expenses 15,625 13,522
Transaction related expenses 6,400 3,044
Total Expenses 22,025 16,566
Income/(loss) before equity in earnings/(loss) from affiliates 74,656 78,902
Equity in earnings/(loss) from affiliates (1,304) 2,000
Net Income/(Loss) before Income Taxes 73,352 80,902
Income tax expense 888 112
Net Income/(Loss) 72,464 80,790
Dividends on preferred stock 0 0
Net Income/(Loss) Available to Common Stockholders 72,464 80,790
Arc Home    
Segment Reporting, Asset Reconciling Item [Line Items]    
Unrealized gain (loss) on investments 2,700 2,600
Arc Home | Operating Segments    
Segment Reporting, Asset Reconciling Item [Line Items]    
Interest income 0 0
Interest expense 0 0
Total Net Interest Income 0 0
Total Other Income/(Loss) 0 0
Management fee to affiliate 0 0
Non-investment related expenses 0 0
Investment related expenses 0 0
Transaction related expenses 895 0
Total Expenses 895 0
Income/(loss) before equity in earnings/(loss) from affiliates (895) 0
Equity in earnings/(loss) from affiliates 4,125 1,141
Net Income/(Loss) before Income Taxes 3,230 1,141
Income tax expense 0 0
Net Income/(Loss) 3,230 1,141
Dividends on preferred stock 0 0
Net Income/(Loss) Available to Common Stockholders $ 3,230 $ 1,141
[1] Refer to Note 10 for additional details on related party transactions.