v3.25.2
REAL ESTATE-RELATED SECURITIES AND OTHER - Schedule of Real Estate Securities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]            
Amortized Cost Basis $ 521,171          
Gains 407          
Losses (43,136)          
CECL (183,287)   $ (110,062)      
Fair Value 295,155   345,828      
CMBS            
Debt Securities, Available-for-sale [Line Items]            
Amortized Cost Basis 435,353          
Gains 407          
Losses (13,768)          
CECL (183,287) $ (182,328) $ (110,062) $ (40,091) $ (35,562) $ (35,808)
Fair Value 238,705          
CLO subordinated note            
Debt Securities, Available-for-sale [Line Items]            
Amortized Cost Basis 27,371          
Gains 0          
Losses (4,282)          
CECL 0          
Fair Value 23,089          
Equity securities            
Debt Securities, Available-for-sale [Line Items]            
Amortized Cost Basis 58,447          
Gains 0          
Losses (25,086)          
CECL 0          
Fair Value $ 33,361