v3.26.1
Loans and Preferred Equity Held for Investment, net - Changes in Allowance for Loan Losses (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
loan
Mar. 31, 2026
USD ($)
Jun. 30, 2025
USD ($)
loan
Mar. 31, 2025
USD ($)
Jun. 30, 2026
USD ($)
loan
Jun. 30, 2025
USD ($)
loan
Jul. 29, 2026
loan
Dec. 31, 2025
loan
Allowance for Loan and Lease Losses [Roll Forward]                
Reserve, beginning balance $ 85,316 $ 87,401 $ 155,365 $ 165,932 $ 87,401 $ 165,932    
Decrease in general CECL reserve 13,342 (2,085) (18,798) (9,524)        
Increase in specific CECL reserve         15,247 346    
Charge-off of CECL reserve-other 987 2,639 18,192 9,174 3,626 27,366    
Charge-offs of CECL reserve - transfer to Real Estate, net and Real Estate Held for Sale     (1,290) (1,043)        
Reserve, ending balance 98,658 85,316 136,567 155,365 $ 98,658 $ 136,567    
Loans held for investment                
Allowance for Loan and Lease Losses [Roll Forward]                
Increase in specific CECL reserve $ 987 2,639 $ 19,482 9,174        
Number of loans on nonaccrual status | loan 1       1      
Multifamily Senior Loan                
Allowance for Loan and Lease Losses [Roll Forward]                
Number of loans on nonaccrual status | loan 1       1      
Multifamily                
Allowance for Loan and Lease Losses [Roll Forward]                
Number of loans on nonaccrual status | loan 1   2   1 2    
Multifamily | Subsequent event                
Allowance for Loan and Lease Losses [Roll Forward]                
Number of loans on nonaccrual status | loan             1  
Industrial Loan                
Allowance for Loan and Lease Losses [Roll Forward]                
Number of loans on nonaccrual status | loan 1       1      
Office Senior Loans                
Allowance for Loan and Lease Losses [Roll Forward]                
Number of loans on nonaccrual status | loan 1       1      
Denver, Colorado                
Allowance for Loan and Lease Losses [Roll Forward]                
Number of loans on nonaccrual status | loan     1     1   1
Denver, Colorado | Loans held for investment                
Allowance for Loan and Lease Losses [Roll Forward]                
Increase in specific CECL reserve         $ 2,900      
Denver, Colorado | Multifamily Senior Loan                
Allowance for Loan and Lease Losses [Roll Forward]                
Increase in specific CECL reserve         900      
Denver, Colorado | Multifamily                
Allowance for Loan and Lease Losses [Roll Forward]                
Increase in specific CECL reserve         $ 600 $ 28,700    
Number of loans on nonaccrual status | loan 3   2   3 2    
Denver, Colorado | Industrial Loan                
Allowance for Loan and Lease Losses [Roll Forward]                
Increase in specific CECL reserve         $ 600      
Denver, Colorado | Office Senior Loans                
Allowance for Loan and Lease Losses [Roll Forward]                
Increase in specific CECL reserve         200      
PD/LGD model                
Allowance for Loan and Lease Losses [Roll Forward]                
CECL reserves related to unfunded commitments $ (800) $ 1,200 $ (100) $ 500 $ 400 $ 400