v3.26.1
Loans Held-for-Investment, Net of Allowance for Credit Losses - Narrative (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
USD ($)
loan
Mar. 31, 2025
USD ($)
loan
Mar. 31, 2026
USD ($)
loan
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Increase (decrease) in allowance for credit losses $ 100        
Loans held-for-investment 1,510,097 $ 1,937,659 $ 1,510,097 $ 1,683,644 $ 2,097,375
Allowance for credit losses $ 147,298 $ 177,282 $ 147,298 $ 145,912 $ 199,727
Number of loans, nonaccrual | loan 7 5 7    
Number of other investment loans | loan 4   4    
Financing receivable, excluding accrued interest, nonaccrual, principal balance $ 344,000 $ 354,900 $ 344,000    
Financing receivable, excluding accrued interest, nonaccrual 343,200 354,700 $ 343,200    
Number of loans modified | loan     4    
Payments to acquire investment $ 13,761 10,086      
Write-offs   $ (24,638)      
Debt, portfolio, weighted average risk rating 3.2   3.2 2.9  
Risk Rating 5          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Number of loans | loan 5   5    
Loans downgraded $ 264,700   $ 264,700    
Variable Interest Entity, Not Primary Beneficiary          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Payments to acquire investment 1,600        
Other investment, additional potential contribution 2,000   2,000    
Senior Loan          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Increase of the common equity investment in exchange $ 100   $ 100    
Increase of the common equity investment in exchange (in percent) 5.00%   5.00%    
Senior Loan, Unsecured Note And Common Equity Investment          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Amortized cost $ 73,400   $ 73,400    
Senior Loan And Preferred Equity Investment          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Amortized cost 45,000   45,000    
Principal balance of loan $ 45,200   45,200    
New York | Variable Interest Entity, Not Primary Beneficiary          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Other investments, deferred preferred return percentage 11.00%        
CANADA | Variable Interest Entity, Not Primary Beneficiary          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Other investments, deferred preferred return percentage 12.00%        
Office | New York | Senior Loan          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Amortized cost $ 69,200   $ 69,200 $ 69,100  
Term increase from modification 1 year        
Outstanding principal balance of loans modified $ 4,800        
Office | Asset Pledged as Collateral          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing receivable, number of loans | loan 2   2    
Retail | Asset Pledged as Collateral          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing receivable, number of loans | loan 1   1    
Hotel | CANADA | Senior Loan          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Amortized cost $ 43,400   $ 43,400 43,200  
Term increase from modification 2 years        
Outstanding principal balance of loans modified $ 3,800        
Principal balance of loan 43,500   43,500 43,400  
Hotel | Arizona | Senior Loan          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Amortized cost 27,300   27,300 26,900  
Outstanding principal balance of loans modified 2,500        
Principal balance of loan 27,300   27,300 26,900  
Write-offs (3,700)        
Hotel | Minnesota | Senior Loan          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Amortized cost $ 39,400   39,400 38,000  
Term increase from modification 3 years        
Principal balance of loan $ 39,400   $ 39,400 $ 38,000  
Write-offs $ (15,400)        
Additional term increase from modification 12 months        
Hotel | Asset Pledged as Collateral          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing receivable, number of loans | loan 2   2    
Collateral Dependent Loans          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Loans held-for-investment $ 333,600   $ 333,600    
Allowance for credit losses $ 119,600   $ 119,600    
Collateral Dependent Loans | Collateral pledged          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Financing receivable, number of loans | loan 7   7