v3.25.2
Loans Receivable, net - Summary of Loan Receivables Acquired By Property (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 7,460,601 $ 7,496,474   $ 8,237,332   $ 7,782,219
CECL reserve (99,816) (93,664) $ (82,805) (139,402) $ (119,800) $ (79,851)
Loans receivable, net $ 7,360,785 $ 7,402,810   $ 8,097,930    
Percentage 100.00% 100.00%        
Multifamily            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 4,200,286 $ 4,158,483        
Percentage 56.00% 55.00%        
Hospitality            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 1,107,714 $ 1,052,578        
Percentage 15.00% 14.00%        
Industrial            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 942,241 $ 878,656        
Percentage 13.00% 12.00%        
Office            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 523,487 $ 522,686        
Percentage 7.00% 7.00%        
Retail            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 427,050 $ 574,321        
Percentage 6.00% 8.00%        
Mixed Use            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 153,652 $ 190,180        
Percentage 2.00% 3.00%        
Various            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 89,999 $ 103,391        
Percentage 1.00% 1.00%        
Self Storage            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans receivable $ 16,172 $ 16,179        
Percentage 0.00% 0.00%