v3.26.1
LOANS HELD-FOR-INVESTMENT - Schedule of Loans Held-For-Investment Portfolio (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2025
USD ($)
loan
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 78    
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
Weighted Average Risk Rating 3.6    
2025 $ 0    
2024 (155)    
2023 (1,044)    
2022 0    
2021 (91,696)    
Prior 0    
Gross charge-offs $ (92,895) (4,989)  
Liquid corporate senior loans      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of loans, nonaccrual status | loan 3    
Nonaccrual status with a carrying value $ 6,000    
Percentage carrying value of loan portfolio (less than) 1.00%    
First mortgage loans      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 35    
2025 $ 611,370    
2024 183,341    
2023 298,408    
2022 1,346,496    
2021 806,067    
Prior 115,997    
Loans held-for-investment and related receivables, net $ 3,361,679 3,466,929  
First mortgage loans | 1      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 0    
2025 $ 0    
2024 0    
2023 0    
2022 0    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 0    
First mortgage loans | 2      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 0    
2025 $ 0    
2024 0    
2023 0    
2022 0    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 0    
First mortgage loans | 3      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 25    
2025 $ 611,370    
2024 80,705    
2023 263,668    
2022 612,921    
2021 507,119    
Prior 62,056    
Loans held-for-investment and related receivables, net $ 2,137,839    
First mortgage loans | 4      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 4    
2025 $ 0    
2024 102,636    
2023 34,740    
2022 234,661    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 372,037    
First mortgage loans | 5      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 6    
2025 $ 0    
2024 0    
2023 0    
2022 498,914    
2021 298,948    
Prior 53,941    
Loans held-for-investment and related receivables, net $ 851,803    
Liquid corporate senior loans      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 8    
2025 $ 0    
2024 6,178    
2023 1,713    
2022 13,520    
2021 5,498    
Prior 0    
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
Gross charge-offs $ (5,420) $ (4,989)  
Liquid corporate senior loans | 1      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 0    
2025 $ 0    
2024 0    
2023 0    
2022 0    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 0    
Liquid corporate senior loans | 2      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 0    
2025 $ 0    
2024 0    
2023 0    
2022 0    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 0    
Liquid corporate senior loans | 3      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 2    
2025 $ 0    
2024 0    
2023 1,713    
2022 13,520    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 15,233    
Liquid corporate senior loans | 4      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 3    
2025 $ 0    
2024 1,869    
2023 0    
2022 0    
2021 3,807    
Prior 0    
Loans held-for-investment and related receivables, net $ 5,676    
Liquid corporate senior loans | 5      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 3    
2025 $ 0    
2024 4,309    
2023 0    
2022 0    
2021 1,691    
Prior 0    
Loans held-for-investment and related receivables, net $ 6,000    
Corporate senior loans      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 35    
2025 $ 130,040    
2024 94,630    
2023 84,564    
2022 54,645    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 363,879    
Corporate senior loans | 1      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 0    
2025 $ 0    
2024 0    
2023 0    
2022 0    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 0    
Corporate senior loans | 2      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 0    
2025 $ 0    
2024 0    
2023 0    
2022 0    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 0    
Corporate senior loans | 3      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 32    
2025 $ 130,040    
2024 94,630    
2023 72,930    
2022 28,519    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 326,119    
Corporate senior loans | 4      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 3    
2025 $ 0    
2024 0    
2023 11,634    
2022 26,126    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 37,760    
Corporate senior loans | 5      
Financing Receivable, Credit Quality Indicator [Line Items]      
Number of Loans | loan 0    
2025 $ 0    
2024 0    
2023 0    
2022 0    
2021 0    
Prior 0    
Loans held-for-investment and related receivables, net $ 0