v3.25.4
MORTGAGE LOAN RECEIVABLES - Provision for Loan Losses (Details)
3 Months Ended 12 Months Ended
Sep. 30, 2024
loan
Dec. 31, 2025
USD ($)
loan
Dec. 31, 2024
USD ($)
loan
Dec. 31, 2023
USD ($)
Allowance for Loan and Lease Losses [Roll Forward]        
Allowance for credit losses at beginning of period   $ 52,323,000 $ 43,165,000 $ 20,755,000
Provision for (release of) current expected credit loss, net   (186,000) 14,181,000 25,110,000
Charge-offs   (5,000,000) (5,023,000) (2,700,000)
Allowance for credit losses at end of period   47,137,000 52,323,000 43,165,000
Amortized cost basis of loans on non-accrual status   129,679,000 76,875,000  
Principal balance of loans on non-accrual status   123,900,000    
Total mortgage loan receivables held for investment, net, at amortized cost        
Allowance for Loan and Lease Losses [Roll Forward]        
Allowance for credit losses at beginning of period   52,323,000 43,165,000 20,755,000
Charge-offs   (5,000,000)    
Allowance for credit losses at end of period   47,137,000 52,323,000 43,165,000
Interest income on loans   4,800,000 1,500,000  
Asset Specific Reserve, Company Loan        
Allowance for Loan and Lease Losses [Roll Forward]        
Additional asset-specific reserve   $ 0 $ 0 $ 0
One loan | Total mortgage loan receivables held for investment, net, at amortized cost        
Allowance for Loan and Lease Losses [Roll Forward]        
Number of nonaccrual loans | loan   1 1  
Amortized cost basis of loans on non-accrual status   $ 4,600,000 $ 13,700,000  
One loan | Total mortgage loan receivables held for investment, net, at amortized cost | Office Loan        
Allowance for Loan and Lease Losses [Roll Forward]        
Number of nonaccrual loans | loan 1 1    
Amortized cost basis of loans on non-accrual status   $ 5,800,000    
One loan | Total mortgage loan receivables held for investment, net, at amortized cost | Multifamily Loan        
Allowance for Loan and Lease Losses [Roll Forward]        
Number of nonaccrual loans | loan   1 1  
Amortized cost basis of loans on non-accrual status   $ 61,300,000 $ 60,900,000  
One loan | Total mortgage loan receivables held for investment, net, at amortized cost | Hotel Loan        
Allowance for Loan and Lease Losses [Roll Forward]        
Number of nonaccrual loans | loan   1    
Amortized cost basis of loans on non-accrual status   $ 11,900,000    
One loan | Total mortgage loan receivables held for investment, net, at amortized cost | Second Multifamily Loan        
Allowance for Loan and Lease Losses [Roll Forward]        
Number of nonaccrual loans | loan   1    
Amortized cost basis of loans on non-accrual status   $ 50,700,000    
One loan | Total mortgage loan receivables held for investment, net, at amortized cost | Mixed Use Loan        
Allowance for Loan and Lease Losses [Roll Forward]        
Number of nonaccrual loans | loan     1  
Amortized cost basis of loans on non-accrual status     $ 16,000,000