Schedule IV - Mortgage Loans on Real Estate (Details) - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
7.71%
|
9.27%
|
|
| Prior Liens |
$ 31,207
|
|
|
| Face amount of Mortgages |
2,265,696
|
|
|
| Carrying Amount of Mortgages |
2,198,224
|
$ 1,565,897
|
$ 3,138,792
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
129,679
|
|
|
| Total carrying amount of mortgages |
2,245,361
|
|
|
| Provision for loan losses |
(47,137)
|
|
|
| Principal balance of loans on non-accrual status |
123,900
|
|
|
| Aggregate cost for U.S. federal tax income purposes |
2,200,000
|
|
|
| Mortgage loans held for sale |
2,198,224
|
1,565,897
|
3,138,792
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, beginning balance |
1,565,897
|
3,138,792
|
3,892,382
|
| Beginning balance, Allowance for credit losses |
(52,323)
|
(43,165)
|
(20,755)
|
| Origination of mortgage loan receivables |
1,358,336
|
195,232
|
68,415
|
| Repayment of mortgage loan receivables |
(609,169)
|
(1,720,643)
|
(726,710)
|
| Non-cash disposition of loan via foreclosure |
(65,078)
|
(47,952)
|
(88,708)
|
| Realized gain on sale of mortgage loan receivables |
4,716
|
30
|
(523)
|
| Accretion/amortization of discount, premium and other fees |
10,183
|
14,619
|
19,046
|
| Release of provision for current expected credit loss, net |
157
|
(13,933)
|
(25,096)
|
| Release of provision for current expected credit loss, net |
186
|
(14,181)
|
(25,110)
|
| Mortgage loans receivable, ending balance |
2,198,224
|
1,565,897
|
3,138,792
|
| Ending balance, Allowance for credit losses |
(47,137)
|
(52,323)
|
(43,165)
|
| Mortgage loan receivables held for sale |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Carrying Amount of Mortgages |
28,000
|
|
|
| Mortgage loans held for sale |
28,000
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
28,000
|
|
|
| Total mortgage loan receivables held for investment, net, at amortized cost |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Carrying Amount of Mortgages |
2,217,375
|
1,591,322
|
3,155,089
|
| Mortgage loans held for sale |
2,217,375
|
1,591,322
|
3,155,089
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, beginning balance |
1,591,322
|
3,155,089
|
3,885,746
|
| Beginning balance, Allowance for credit losses |
(52,323)
|
(43,165)
|
(20,755)
|
| Origination of mortgage loan receivables |
1,294,976
|
195,232
|
68,415
|
| Repayment of mortgage loan receivables |
(609,028)
|
(1,720,643)
|
(726,710)
|
| Non-cash disposition of loan via foreclosure |
(65,078)
|
(52,975)
|
(91,408)
|
| Non-cash disposition of loans via foreclosure |
0
|
5,023
|
2,700
|
| Realized gain on sale of mortgage loan receivables |
0
|
0
|
0
|
| Accretion/amortization of discount, premium and other fees |
10,183
|
14,619
|
19,046
|
| Release of provision for current expected credit loss, net |
186
|
(14,181)
|
|
| Release of provision for current expected credit loss, net |
|
|
(25,110)
|
| Mortgage loans receivable, ending balance |
2,217,375
|
1,591,322
|
3,155,089
|
| Ending balance, Allowance for credit losses |
$ (47,137)
|
$ (52,323)
|
(43,165)
|
| Mortgage loan receivables held for sale |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
4.57%
|
4.57%
|
|
| Carrying Amount of Mortgages |
$ 27,986
|
$ 26,898
|
26,868
|
| Mortgage loans held for sale |
27,986
|
26,898
|
26,868
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, beginning balance |
26,898
|
26,868
|
27,391
|
| Origination of mortgage loan receivables |
63,360
|
0
|
0
|
| Repayment of mortgage loan receivables |
(141)
|
0
|
0
|
| Realized gain on sale of mortgage loan receivables |
4,716
|
30
|
(523)
|
| Accretion/amortization of discount, premium and other fees |
0
|
0
|
0
|
| Mortgage loans receivable, ending balance |
27,986
|
$ 26,898
|
$ 26,868
|
| First mortgage loan |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Prior Liens |
0
|
|
|
| Face amount of Mortgages |
2,258,374
|
|
|
| Carrying Amount of Mortgages |
2,238,048
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
129,679
|
|
|
| Mortgage loans held for sale |
2,238,048
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
2,238,048
|
|
|
| Second Mortgage |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Prior Liens |
31,207
|
|
|
| Face amount of Mortgages |
7,322
|
|
|
| Carrying Amount of Mortgages |
7,313
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
0
|
|
|
| Mortgage loans held for sale |
7,313
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
$ 7,313
|
|
|
| Office | First Mortgages individually greater than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
7.97%
|
|
|
| Prior Liens |
$ 0
|
|
|
| Face amount of Mortgages |
228,425
|
|
|
| Carrying Amount of Mortgages |
228,228
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
0
|
|
|
| Mortgage loans held for sale |
228,228
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
$ 228,228
|
|
|
| Office | First Mortgages individually greater than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
7.28%
|
|
|
| Prior Liens |
$ 0
|
|
|
| Face amount of Mortgages |
99,050
|
|
|
| Carrying Amount of Mortgages |
98,098
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
0
|
|
|
| Mortgage loans held for sale |
98,098
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
$ 98,098
|
|
|
| Office | First Mortgages individually greater than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
8.55%
|
|
|
| Prior Liens |
$ 0
|
|
|
| Face amount of Mortgages |
80,000
|
|
|
| Carrying Amount of Mortgages |
79,629
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
0
|
|
|
| Mortgage loans held for sale |
79,629
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
$ 79,629
|
|
|
| Multifamily | First Mortgages individually greater than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
7.00%
|
|
|
| Prior Liens |
$ 0
|
|
|
| Face amount of Mortgages |
98,738
|
|
|
| Carrying Amount of Mortgages |
97,791
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
0
|
|
|
| Mortgage loans held for sale |
97,791
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
$ 97,791
|
|
|
| Multifamily | First Mortgages individually greater than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
7.01%
|
|
|
| Prior Liens |
$ 0
|
|
|
| Face amount of Mortgages |
74,000
|
|
|
| Carrying Amount of Mortgages |
73,354
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
0
|
|
|
| Mortgage loans held for sale |
73,354
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
73,354
|
|
|
| Multi-Family, Office, Industrial, Mixed, Land, Retail, Hotel | First Mortgages individually less than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Prior Liens |
0
|
|
|
| Face amount of Mortgages |
1,678,161
|
|
|
| Carrying Amount of Mortgages |
1,660,948
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
129,679
|
|
|
| Mortgage loans held for sale |
1,660,948
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
$ 1,660,948
|
|
|
| Multi-Family, Office, Industrial, Mixed, Land, Retail, Hotel | Minimum | First Mortgages individually less than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
4.25%
|
|
|
| Multi-Family, Office, Industrial, Mixed, Land, Retail, Hotel | Maximum | First Mortgages individually less than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
13.81%
|
|
|
| Hotel | Subordinated Mortgages individually less than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Prior Liens |
$ 31,207
|
|
|
| Face amount of Mortgages |
7,322
|
|
|
| Carrying Amount of Mortgages |
7,313
|
|
|
| Principal Amount of Mortgages Subject to Delinquent Principal or Interest |
0
|
|
|
| Mortgage loans held for sale |
7,313
|
|
|
| Mortgage loan receivables held for investment, net, at amortized cost: |
|
|
|
| Mortgage loans receivable, ending balance |
$ 7,313
|
|
|
| Hotel | Minimum | Subordinated Mortgages individually less than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
11.00%
|
|
|
| Hotel | Maximum | Subordinated Mortgages individually less than 3% |
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
| Interest Rates |
11.66%
|
|
|