v3.25.4
DEBT OBLIGATIONS, NET - Variable Interest Entities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]        
Accrued interest receivable $ 15,890 $ 12,936 [1]    
Other assets 49,041 158,149 [1]    
Total assets 5,152,550 4,845,073 [1] $ 5,512,677  
Debt obligations, net 3,510,402 3,135,617 [1]    
Accrued expenses 76,448 74,824 [1]    
Total liabilities 3,671,193 3,312,134 [1]    
Total equity 1,481,357 1,532,939 [1] $ 1,532,198 $ 1,533,561
Total liabilities and equity $ 5,152,550 4,845,073 [1]    
Variable Interest Entity, Primary Beneficiary        
Debt Instrument [Line Items]        
Mortgage loan receivables held for investment, net, at amortized cost   831,270    
Accrued interest receivable   5,530    
Other assets   42,621    
Total assets   879,421    
Debt obligations, net   601,429    
Accrued expenses   1,806    
Total liabilities   603,235    
Net equity in VIEs (eliminated in consolidation)   276,186    
Total equity   276,186    
Total liabilities and equity   $ 879,421    
[1] Includes amounts relating to consolidated variable interest entities. Refer to Note 2 and Note 6.