v3.26.1
Real Estate Owned - Narrative (Details)
$ in Thousands
1 Months Ended 6 Months Ended
Sep. 30, 2025
USD ($)
Aug. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
May 31, 2025
USD ($)
Apr. 30, 2025
USD ($)
Jun. 30, 2024
Dec. 31, 2021
Jun. 30, 2026
USD ($)
property
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Real Estate [Line Items]                    
Real estate acquisition costs               $ 0 $ 852  
Write-offs charged               59,629 $ 20,434  
Commercial real estate loans, held-for-investment               4,373,120   $ 5,347,756
Impaired/Loss Likely                    
Real Estate [Line Items]                    
Commercial real estate loans, held-for-investment               $ 669,518   $ 567,995
Raleigh, NC | Senior Mortgage Loan | Impaired/Loss Likely                    
Real Estate [Line Items]                    
Estimated fair value   $ 71,800                
Raleigh, NC | Senior Mortgage Loan | Multifamily | Impaired/Loss Likely                    
Real Estate [Line Items]                    
Write-offs charged   14,400                
Commercial real estate loans, held-for-investment   $ 85,500                
Philadelphia | Commercial Real Estate Loans                    
Real Estate [Line Items]                    
Gain on sale of property       $ 500            
Number of real estate properties | property               1    
West Hollywood, CA | Senior Mortgage Loan | Impaired/Loss Likely                    
Real Estate [Line Items]                    
Estimated fair value         $ 92,900          
West Hollywood, CA | Senior Mortgage Loan | Multifamily | Impaired/Loss Likely                    
Real Estate [Line Items]                    
Write-offs charged         20,400          
Commercial real estate loans, held-for-investment         $ 112,500          
Real estate owned | Portland, OR | REO JV                    
Real Estate [Line Items]                    
Real estate acquisition costs $ 9,100                  
Real estate owned | Portland, OR | Commercial Real Estate Loans                    
Real Estate [Line Items]                    
Gross price of property sold     $ 6,000              
Gain on sale of property     $ 700              
Primary beneficiary | Mountain View, CA | KKR Affiliate                    
Real Estate [Line Items]                    
Ownership percentage of partner (as a percent)           31.10%        
Primary beneficiary | Mountain View, CA | Commercial Real Estate Loans                    
Real Estate [Line Items]                    
Ownership percentage in VIE (as a percent)           68.90%        
Primary beneficiary | Real estate owned                    
Real Estate [Line Items]                    
Ownership percentage in VIE (as a percent)             90.00%      
Primary beneficiary | Real estate owned | JV Partner                    
Real Estate [Line Items]                    
Ownership percentage of partner (as a percent)             10.00%