v3.26.1
Agreements and Transactions with Related Parties - 2025 Activity (Details)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Apr. 30, 2025
USD ($)
Nov. 30, 2025
USD ($)
Oct. 31, 2025
USD ($)
Aug. 31, 2025
USD ($)
May 31, 2025
USD ($)
officer
Feb. 28, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Dec. 31, 2020
USD ($)
Jan. 31, 2025
USD ($)
Agreements and Transactions with Related Parties                        
Interest income             $ 230,858 $ 240,303 $ 465,905 $ 480,997    
Loans and investments funded, originated and purchased                 1,575,738 1,484,429    
Clarus Berkley                        
Agreements and Transactions with Related Parties                        
Equity participation interest (as a percentage)   3.60%                    
Other Related Party Transactions | Clarus Berkley                        
Agreements and Transactions with Related Parties                        
Noncontrolling interest   $ 1,500                    
Other Related Party Transactions | Related Party | Maturity Date February 2027                        
Agreements and Transactions with Related Parties                        
Base spread, percentage           4.75%           5.50%
Other Related Party Transactions | Immediate Family Member of Management or Principal Owner | Maturity Date May 2026 | Single-Family Rental | Preferred equity interest financing agreement                        
Agreements and Transactions with Related Parties                        
Interest income             600 1,000 1,400 2,000    
Proceeds from interest received         $ 1,900              
Other Related Party Transactions | Immediate Family Member of Management or Principal Owner | Maturity Date February 2027                        
Agreements and Transactions with Related Parties                        
Percentage of ownership interest of related party in the entity           10.00%            
Bridge loans | Related Party | Maturity Date May 2027, Committed In May 2025                        
Agreements and Transactions with Related Parties                        
Interest income             1,000 1,200 2,000 2,600    
Bridge loans | Related Party | Maturity Date February 2027                        
Agreements and Transactions with Related Parties                        
Interest income             900 300 1,500 600    
Bridge loans | Other Related Party Transactions | Related Party                        
Agreements and Transactions with Related Parties                        
Principal amount   $ 67,900                    
Equity participation interest (as a percentage)   4.30%                    
Equity investments made by related parties   $ 1,800                    
Base spread, percentage   2.50%                    
SOFR floor, percentage   2.50%                    
Interest income             1,100   2,200      
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date November 2028                        
Agreements and Transactions with Related Parties                        
Principal amount   $ 44,800                    
Equity participation interest (as a percentage)   1.00%                    
Base spread, percentage   4.25%                    
SOFR floor, percentage   3.50%                    
Interest income             100   100      
Loan committed                 2,300      
Financing receivable, length of extension period   1 year                    
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date October 2028                        
Agreements and Transactions with Related Parties                        
Principal amount     $ 50,500                  
Equity participation interest (as a percentage)     4.60%                  
Base spread, percentage     4.25%                  
SOFR floor, percentage     3.50%                  
Interest income             100   100      
Loan committed                 3,900      
Financing receivable, length of extension period     1 year                  
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date August 2026                        
Agreements and Transactions with Related Parties                        
Principal amount       $ 4,000                
Base spread, percentage       3.25%                
SOFR floor, percentage       4.32%                
Interest income             100   200      
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date May 2026 | Single-Family Rental                        
Agreements and Transactions with Related Parties                        
Principal amount $ 32,500       43,000              
Loans and investments funded, originated and purchased         1,200           $ 3,500  
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date November 2025 | Single-Family Rental                        
Agreements and Transactions with Related Parties                        
Principal amount $ 30,500       $ 36,200              
Equity participation interest (as a percentage)         33.70%           18.90%  
Base spread, percentage 4.25%       3.00%              
SOFR floor, percentage 1.00%       3.25%              
Interest income             $ 500 $ 900 1,200 $ 1,900    
Proceeds from interest received         $ 1,300              
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date May 2027, Committed In May 2025                        
Agreements and Transactions with Related Parties                        
Principal amount $ 56,900       $ 58,400              
Equity participation interest (as a percentage)         4.00%              
Base spread, percentage 5.50%       2.75%              
SOFR floor, percentage 3.25%       3.50%              
Number of officers making minority equity investments | officer         2              
Equity investments         $ 500              
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date February 2027                        
Agreements and Transactions with Related Parties                        
Principal amount           $ 52,600           $ 46,200
Equity participation interest (as a percentage)           70.00%            
Loan committed                 $ 40,500      
Bridge loans | Other Related Party Transactions | Immediate Family Member of Management or Principal Owner | Maturity Date May 2026 | Single-Family Rental                        
Agreements and Transactions with Related Parties                        
Equity participation interest (as a percentage)         26.60%           21.80%  
Base spread, percentage 3.75%       3.00%              
SOFR floor, percentage 0.75%       3.25%              
Preferred equity investments | Other Related Party Transactions | Related Party | Maturity Date November 2025 | Single-Family Rental                        
Agreements and Transactions with Related Parties                        
Loans and investments funded, originated and purchased                     $ 4,600  
Fixed rate of interest                     12.00%  
Preferred equity investments | Other Related Party Transactions | Immediate Family Member of Management or Principal Owner | Maturity Date May 2026 | Single-Family Rental                        
Agreements and Transactions with Related Parties                        
Fixed rate of interest         12.00%