v3.26.1
Real Estate Owned - Narrative (Details)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
USD ($)
loan
property
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
property
loan
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
property
Real Estate [Line Items]          
Financing receivable, specific reserve   $ 2,200 $ 1,000 $ 7,400  
Loan loss reserves charged-off     25,589   $ 128,337
Repayments of mortgage notes outstanding     24,454 67,812  
Loans and investments, gross $ 12,107,031   12,107,031   12,113,107
Impairment loss on real estate owned $ 13,650 0 $ 26,150 0  
Number of impaired properties | property 2   6    
Notes payable - real estate owned $ 270,410   $ 270,410   222,965
Depreciation expense related to real estate owned 5,200 $ 4,800 $ 11,200 $ 7,500  
Prime Rate          
Real Estate [Line Items]          
Mortgage notes payable, basis spread on variable rate     2.18%    
Secured Overnight Financing Rate (SOFR)          
Real Estate [Line Items]          
Mortgage notes payable, basis spread on variable rate     3.25%    
Mortgages          
Real Estate [Line Items]          
Notes payable - real estate owned 270,400   $ 270,400   $ 223,000
Bridge loans | Financing Receivable Portfolio Two Buyer          
Real Estate [Line Items]          
Loans and investments, gross 31,900   31,900    
Bridge loans | Financing Receivable Portfolio Three Buyer          
Real Estate [Line Items]          
Loans and investments, gross 41,400   $ 41,400    
Bridge loans | Minimum          
Real Estate [Line Items]          
Financing receivable, floating interest rate floor     5.17%    
Financing receivable, floor interest rate, basis spread on variable rate     1.50%    
Financing receivable, real estate owned, loan-to-capitalization ratio     72.00%    
Bridge loans | Maximum          
Real Estate [Line Items]          
Financing receivable, floating interest rate floor     6.65%    
Financing receivable, floor interest rate, basis spread on variable rate     3.00%    
Financing receivable, real estate owned, loan-to-capitalization ratio     88.00%    
Bridge loans | Financing Receivable, Period Two          
Real Estate [Line Items]          
Financing receivable, floating interest rate floor     6.17%    
Financing receivable, floor interest rate, basis spread on variable rate     2.50%    
Sold Real Estate Owned Assets          
Real Estate [Line Items]          
Proceeds from sale of REO asset 37,300   $ 45,300    
Repayments of mortgage notes outstanding 24,500        
Loss on sale of REO asset $ 400   2,400    
Loss on sale of real estate assets     $ 100    
Multifamily          
Real Estate [Line Items]          
Weighted average occupancy rate 51.00%   51.00%   45.00%
Number of vacant real estate properties | property 3   3   2
Multifamily | Foreclosed Real Estate Owned Assets          
Real Estate [Line Items]          
Number of foreclosed real estate properties | loan 3   5    
Number of collateral properties | property 1   1    
Foreclosed properties, carrying value $ 68,800   $ 102,800    
Financing receivable, specific reserve 3,500   3,500    
Loan loss reserves charged-off 6,000   6,000    
Provision for credit loss $ 2,500   $ 2,500    
Multifamily | Sold Real Estate Owned Assets          
Real Estate [Line Items]          
Number of real estate properties sold | loan 3   4