v3.26.1
Commercial Mortgage Loans, Held for Investment - Schedule of Commercial Mortgage Loan Portfolio, Held-For-Investment (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Provision for Credit Losses      
Allowance for credit losses, beginning of period [1] $ (38,302)    
(Provision)/benefit for credit losses (11,391) $ 1,898  
Allowance for credit losses, end of period [1] (49,173)   $ (38,302)
Total commercial mortgage loans, held for investment, net [1] 4,546,828   4,383,134
Commercial Mortgage Receivable, Held-For-Investment      
Amortized Cost      
Amortized cost, beginning of period 4,421,436 4,986,750 4,986,750
Acquisitions and originations 496,306   1,156,575
Principal repayments (319,501)   (1,420,373)
Dispositions 0   (35,116)
Principal charge-off (2,617)   (32,860)
Deferred fees and other items (801)   (10,304)
Amortization/accretion of fees and other items 1,972   9,557
Transfer to real estate owned 0   (197,396)
Transfer to held for sale 0   (33,909)
Cost recovery (794)   (1,488)
Amortized cost, end of period 4,596,001   4,421,436
Provision for Credit Losses      
Allowance for credit losses, beginning of period (38,302) $ (78,083) (78,083)
Allowance for credit losses, end of period (49,173)   (38,302)
Total commercial mortgage loans, held for investment, net 4,546,828   4,383,134
Commercial Mortgage Receivable, Held-For-Investment | General (provision)/benefit for credit losses      
Provision for Credit Losses      
Allowance for credit losses, beginning of period (34,196)    
(Provision)/benefit for credit losses 1,358   12,669
Allowance for credit losses, end of period (32,838)   (34,196)
Commercial Mortgage Receivable, Held-For-Investment | Specific (provision)/benefit for credit losses      
Provision for Credit Losses      
Allowance for credit losses, beginning of period (4,106)    
(Provision)/benefit for credit losses (14,846)   (5,748)
Charge offs from specific allowance for credit losses 2,617   32,860
Allowance for credit losses, end of period $ (16,335)   $ (4,106)
[1] Includes pledged assets of $409.4 million and $329.2 million as of March 31, 2026 and December 31, 2025, respectively.