v3.25.2
BORROWINGS (Schedule of Debt) (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Principal Outstanding $ 1,316,559 $ 1,368,104
Unamortized Issuance Costs and Discounts 7,263 7,733
Outstanding Borrowings $ 1,309,296 $ 1,360,371
Weighted Average Borrowing Rate 6.44% 6.66%
Weighted Average Remaining Maturity 4 years 3 months 18 days 8 years 8 months 12 days
Value of Collateral $ 1,596,211 $ 1,664,597
CRE - Term Reinvestment Financing Facility    
Debt Instrument [Line Items]    
Principal Outstanding 888,838  
Unamortized Issuance Costs and Discounts 3,174  
Outstanding Borrowings $ 885,664  
Weighted Average Borrowing Rate 6.06%  
Weighted Average Remaining Maturity 4 years 9 months 18 days  
Value of Collateral $ 1,192,073  
ACR 2021-FL1 Senior Notes    
Debt Instrument [Line Items]    
Principal Outstanding   472,507
Unamortized Issuance Costs and Discounts   660
Outstanding Borrowings   $ 471,847
Weighted Average Borrowing Rate   6.11%
Weighted Average Remaining Maturity   11 years 6 months
Value of Collateral   $ 599,927
ACR 2021-FL2 Senior Notes    
Debt Instrument [Line Items]    
Principal Outstanding   392,571
Unamortized Issuance Costs and Discounts   1,614
Outstanding Borrowings   $ 390,957
Weighted Average Borrowing Rate   6.47%
Weighted Average Remaining Maturity   12 years 1 month 6 days
Value of Collateral   $ 525,571
Senior Secured Financing Facility    
Debt Instrument [Line Items]    
Principal Outstanding 63,099 63,099
Unamortized Issuance Costs and Discounts 1,824 2,189
Outstanding Borrowings $ 61,275 $ 60,910
Weighted Average Borrowing Rate 8.10% 8.22%
Weighted Average Remaining Maturity 2 years 7 months 6 days 3 years 1 month 6 days
Value of Collateral $ 165,553 $ 162,578
CRE - Term Warehouse Financing Facilities    
Debt Instrument [Line Items]    
Principal Outstanding 82,961 158,266
Unamortized Issuance Costs and Discounts 894 1,527
Outstanding Borrowings $ 82,067 $ 156,739
Weighted Average Borrowing Rate 6.55% 7.02%
Weighted Average Remaining Maturity 3 months 18 days 1 year 3 months 18 days
Value of Collateral $ 119,084 $ 257,012
Mortgages Payable    
Debt Instrument [Line Items]    
Principal Outstanding 80,113 80,113
Unamortized Issuance Costs and Discounts 537 557
Outstanding Borrowings $ 79,576 $ 79,556
Weighted Average Borrowing Rate 9.17% 9.25%
Weighted Average Remaining Maturity 5 years 8 months 12 days 5 years 8 months 12 days
Value of Collateral $ 119,501 $ 119,509
5.75% Senior Unsecured Notes    
Debt Instrument [Line Items]    
Principal Outstanding 150,000 150,000
Unamortized Issuance Costs and Discounts 834 1,186
Outstanding Borrowings $ 149,166 $ 148,814
Weighted Average Borrowing Rate 5.75% 5.75%
Weighted Average Remaining Maturity 1 year 1 month 6 days 1 year 7 months 6 days
Value of Collateral $ 0 $ 0
Unsecured Junior Subordinated Debentures    
Debt Instrument [Line Items]    
Principal Outstanding 51,548 51,548
Unamortized Issuance Costs and Discounts 0 0
Outstanding Borrowings $ 51,548 $ 51,548
Weighted Average Borrowing Rate 8.50% 8.67%
Weighted Average Remaining Maturity 11 years 2 months 12 days 11 years 8 months 12 days
Value of Collateral $ 0 $ 0