Commitments and Contingencies |
6 Months Ended |
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Jun. 30, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies As of June 30, 2026, our Commercial and Residential Lending Segment had future commercial loan funding commitments totaling $2.5 billion, of which we expect to fund $2.3 billion. These future funding commitments primarily relate to construction projects, capital improvements, tenant improvements and leasing commissions. As of June 30, 2026, our Infrastructure Lending Segment had future infrastructure loan funding commitments totaling $562.4 million, including $291.7 million under revolvers and letters of credit (“LCs”) and $270.7 million under delayed draw term loans. Additionally, as of June 30, 2026, our Infrastructure Lending Segment had outstanding loan purchase commitments of $849.0 million. Our Infrastructure Lending Segment also entered into a credit default swap that may require future additional collateral postings or payments upon specified credit events. See Note 13 for additional information regarding this instrument. As of June 30, 2026, our Property Segment had future construction funding commitments of $68.6 million related to development projects which have estimated rental revenue commencement dates between July 2026 and September 2027. Generally, funding commitments are subject to certain conditions that must be met, such as customary construction draw certifications, minimum debt service coverage ratios or executions of new leases before advances are made to the borrower. Management is not aware of any other contractual obligations, legal proceedings, or any other contingent obligations incurred in the normal course of business that would have a material adverse effect on our consolidated financial statements.
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