v3.26.1
Loans Held-for-Investment, Net of Allowance for Credit Losses - Schedule of Loans Held-for-Investment (Details)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2026
USD ($)
loan
Dec. 31, 2025
USD ($)
loan
Mar. 31, 2026
USD ($)
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Unpaid principal balance $ 1,393,104 $ 1,689,967        
Unamortized net deferred origination fees   (6,323)        
Allowance for credit losses (163,484) (145,912) $ (147,298) $ (151,968) $ (177,282) $ (199,727)
Loans held-for-investment, net $ 1,225,896 1,537,732 $ 1,362,799 $ 1,671,311 $ 1,760,377 $ 1,897,648
Unfunded commitments   $ 77,399        
Number of loans | loan 38 43        
Weighted average coupon (as a percent)   6.20%        
Weighted average years to maturity (in years)   6 months        
Senior Loans            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Unpaid principal balance $ 1,393,104 $ 1,677,017        
Unamortized net deferred origination fees (3,724) (6,323)        
Allowance for credit losses (163,484) (145,891)        
Loans held-for-investment, net 1,225,896 1,524,803        
Unfunded commitments $ 57,169 $ 77,399        
Number of loans | loan 38 42        
Weighted average coupon (as a percent) 5.40% 6.20%        
Weighted average years to maturity (in years) 4 months 24 days 6 months        
B-Notes            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Unpaid principal balance   $ 12,950        
Unamortized net deferred origination fees   0        
Allowance for credit losses   (21)        
Loans held-for-investment, net   12,929        
Unfunded commitments   $ 0        
Number of loans | loan   1        
Weighted average coupon (as a percent)   8.00%        
Weighted average years to maturity (in years)   1 year 1 month 6 days