v3.26.1
Secured Financing Agreements - Schedule of Collateralized Borrowings (Details) - USD ($)
$ in Thousands
Aug. 05, 2026
Jun. 30, 2026
Dec. 31, 2025
Line of Credit Facility [Line Items]      
Repurchase facilities   $ 313,721 $ 439,173
Amount Outstanding   71,774 71,774
Unused Capacity   611,279 522,643
Total Capacity   925,000 961,816
Carrying Value of Collateral, Assets   518,911 669,035
Real estate owned, held-for-investment, net   29,984 92,039
Mortgage loan payable      
Line of Credit Facility [Line Items]      
Amount Outstanding   18,000 18,000
Unused Capacity   0 0
Total Capacity   18,000 18,000
Carrying Value of Collateral, Liability   $ 35,780 $ 35,060
Weighted Average Borrowing Rate Liabilities   6.70% 6.80%
Unamortized debt issuance costs   $ 17,600 $ 17,500
Secured credit facility      
Line of Credit Facility [Line Items]      
Amount Outstanding   71,774 71,774
Unused Capacity   28,226 28,226
Total Capacity   100,000 100,000
Carrying Value of Collateral, Liability   $ 75,969 $ 98,772
Weighted Average Borrowing Rate Liabilities   9.10% 9.50%
Loans Receivable | Morgan Stanley Bank      
Line of Credit Facility [Line Items]      
Repurchase facilities   $ 52,151 $ 52,444
Unused Capacity   197,849 197,556
Total Capacity   250,000 250,000
Carrying Value of Collateral, Assets   $ 110,532 $ 119,715
Weighted Average Borrowing Rate Assets   6.40% 6.50%
Loans Receivable | Morgan Stanley Bank | Assets Sold Under Agreements To Repurchase, Repurchase Liability | Asset Pledged as Collateral      
Line of Credit Facility [Line Items]      
Real estate owned, held-for-investment, net   $ 54,900 $ 62,900
Loans Receivable | JPMorgan Chase Bank      
Line of Credit Facility [Line Items]      
Repurchase facilities   189,083 314,242
Unused Capacity   235,917 147,574
Total Capacity   425,000 461,816
Carrying Value of Collateral, Assets   $ 304,947 $ 446,849
Weighted Average Borrowing Rate Assets   6.20% 7.20%
Loans Receivable | JPMorgan Chase Bank | Subsequent Event      
Line of Credit Facility [Line Items]      
Maximum facility capacity $ 651,000    
Loans Receivable | Citibank      
Line of Credit Facility [Line Items]      
Repurchase facilities   $ 72,487 $ 72,487
Unused Capacity   177,513 177,513
Total Capacity   250,000 250,000
Carrying Value of Collateral, Assets   $ 103,432 $ 102,471
Weighted Average Borrowing Rate Assets   5.30% 5.40%