v3.26.1
LOANS HELD-FOR-INVESTMENT - Schedule of Loans Held for Investment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held-for-investment and related receivables, net $ 3,752,467 $ 3,763,013  
Less: Current expected credit losses (297,878) (392,136)  
Total loans-held-for-investment and related receivables, net 3,454,589 3,370,877 $ 4,264,465
Contiguous mezzanine loan components   19,000  
First mortgage loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held-for-investment and related receivables, net 3,361,679 3,466,929  
Total CRE loans held-for-investment and related receivables, net      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held-for-investment and related receivables, net 3,361,679 3,466,929  
Total loans-held-for-investment and related receivables, net 3,074,451 3,085,104 3,539,111
Liquid corporate senior loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held-for-investment and related receivables, net 26,909 41,467  
Total loans-held-for-investment and related receivables, net 22,664 35,653 518,252
Corporate Senior Loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held-for-investment and related receivables, net 363,879 254,617  
Total loans-held-for-investment and related receivables, net $ 357,474 $ 250,120 $ 207,102