v3.26.1
Variable Interest Entities - Assets and Liabilities of Consolidated CLO (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Cash and cash equivalents $ 290,285 $ 499,480
Restricted cash 375,777 175,167
Loans held-for-investment 19,281,560 18,862,712
Investment securities 308,203 301,000
Properties, net 3,859,134 3,448,652
Intangible assets, net 426,655 436,059
Accrued interest receivable 177,408 162,679
Other assets 538,466 362,991
Total Assets 62,087,328 63,183,357
Liabilities    
Securitized financing, net 5,081,897 5,131,453
Total Liabilities 54,738,601 55,693,851
Primary Beneficiary    
Assets:    
Total Assets 79,800  
Primary Beneficiary | Securitized Financing    
Assets:    
Cash and cash equivalents 145,818 251,137
Restricted cash 377 0
Investment securities 2,000 0
Properties, net 1,658,673 1,570,531
Intangible assets, net 324,666 333,263
Accrued interest receivable 15,421 14,178
Other assets 123,488 34,399
Total Assets 6,697,005 6,739,635
Liabilities    
Accounts payable, accrued expenses and other liabilities 86,440 79,854
Securitized financing, net 5,081,897 5,131,453
Total Liabilities 5,168,337 5,211,307
Primary Beneficiary | Securitized Financing | Loans held for investment    
Assets:    
Loans held-for-investment $ 4,426,562 $ 4,536,127