Reality with a capital 'R' refers to that which is Real and True, and not that which is obscured and/or distorted by Maya,
Reality with a lower "r" refers to the distorted, obscured, and disconnected perception of that which is Real.
Since the Mind of God is multidimensional, Reality is also multidimensional. Thoughts that exist in the "higher vibrations" of Consciousness may not yet exist at lower levels, and thoughts that exist at lower levels may be remnants of earlier creative moments, or even pure maya. The word Reality with a capital "R" may be used to identify ideas present in the Mind of God (i.e. the Fabric of Consciousness. The word reality with a little "r" may be used to refer to ideas present in the Bodily Ego of the Physical Unit. Ideally, of course, Reality and reality should be completely aligned. In practice, and because of the Toxic Socialization process of this Earth, they are not. Note that misalignment causes Disjuncture and can lead to dis-Connection and Pathology.
There can sometimes be a "great distance" between Reality and reality, and because the Physical Creation is dense and full of Inertia, there is a "time delay" between thoughts that exist in the highest levels of vibration and those that are finally manifested in Physical Creation.