v3.25.4
Variable Interest Entities (Tables)
12 Months Ended
Dec. 31, 2025
Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]  
Summary of Assets and Liabilities of Consolidated VIE The following table details the assets and liabilities of our consolidated VIEs ($ in thousands):
December 31, 2025
December 31, 2024
Assets
Cash and cash equivalents
$58,663
$9,145
Loans receivable
2,422,505
2,338,201
Current expected credit loss reserve
(23,609)
(202,400)
Loans receivable, net
2,398,896
2,135,801
Owned real estate, net
603,130
177,322
Other assets
196,840
126,518
Total assets
$3,257,529
$2,448,786
Liabilities
Securitized debt obligations, net
$2,139,719
$1,936,956
Other liabilities
47,645
13,277
Total liabilities
$2,187,364
$1,950,233