v3.26.1
Commercial Mortgage Loans, Subordinate Loans and Other Lending Assets, Net - CECL Allowance as Percentage of Amortized Cost and Total Commitment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Dec. 31, 2025
Dec. 31, 2024
Allowance and Provision for Loan Credit Loss [Abstract]              
Beginning balance, Specific CECL Allowance   $ 38,754     $ 38,754    
Write-offs, specific CECL allowance, funded [1]           $ (6,200)  
Ending balance, Specific CECL Allowance           38,754  
Financing Receivable, Funded, Allowance for Credit Loss [Roll Forward]              
Beginning balance, General CECL Allowance, Funded $ 37,498 38,754 $ 34,712 $ 30,836 38,754 30,836  
Allowances (Reversals), net (37,498) (1,256) [2] 4,136 [3] 3,876 [4]      
Quarter writeoff, General CECL allowance, funded 0            
Ending balance, General CECL Allowance, Funded 0 37,498 38,848 34,712 0 38,754  
Financing Receivable, Unfunded, Allowance for Credit Loss [Roll Forward]              
Beginning balance, General CECL Allowance, Unfunded 3,726 5,759 6,080 5,948 5,759 5,948  
Allowances (Reversals), net (3,726) (2,033) [2] (1,023) [3] 132 [4]      
Quarter writeoff, General CECL allowance, unfunded 0            
Ending balance, General CECL Allowance, Unfunded 0 3,726 5,057 6,080 0 5,759  
Financing Receivable, General Allowance, Allowance for Credit Loss [Roll Forward]              
Beginning balance, General CECL Allowance 41,224 44,513 40,792 36,784 44,513 36,784  
Allowances (Reversals), net (41,224) (3,289) [2] 3,113 [3] 4,008 [4]      
General CECL Allowance writeoff 0            
Ending balance,General CECL Allowance 0 41,224 43,905 40,792 0 44,513  
Financing Receivable, Total Allowance for Credit Loss [Roll Forward]              
Beginning balance, Total CECL Allowance 379,224 382,513 383,292 379,284 382,513 379,284  
Allowances (Reversals), net (42,688) (3,289) [2] 3,113 [3] 4,008 [4]      
Total CECL Allowance, writeoff (336,536)            
Ending balance, Total CECL Allowance $ 0 $ 379,224 $ 386,405 $ 383,292 $ 0 $ 382,513  
General CECL allowance, % of amortized cost 0.00% [5] 0.47% [5] 4.29% 4.75% 0.00% [5] 0.51% [5] 5.07%
Total CECL allowance, % of amortized cost 0.00% 4.10% 0.51% [6] 0.54% [6] 0.00% 4.18% 0.52% [6]
Commercial Mortgage and Subordinated Portfolio Segment              
Allowance and Provision for Loan Credit Loss [Abstract]              
Beginning balance, Specific CECL Allowance $ 338,000 [5] $ 338,000 [5] $ 342,500 [6] $ 342,500 [6] $ 338,000 [5] $ 342,500 [6]  
Allowances (Reversals), net 1,464 [5] 0 [2],[5] 0 [3],[6] 0 [4],[6]      
Write-offs, specific CECL allowance, funded (336,536) [5]       (335,000)    
Ending balance, Specific CECL Allowance $ 0 [5] $ 338,000 [5] $ 342,500 [6] $ 342,500 [6] $ 0 [5] $ 338,000 [5]  
[1] Net of Specific CECL Allowance.
[2] During the three months ended March 31, 2026, our General CECL Allowance decreased by $3.3 million. The decrease was primarily due to the favorable impacts of portfolio seasoning. The decrease was partially offset by the effect of loan originations.
[3] During the three months ended June 30, 2025, our General CECL Allowance increased by $3.1 million. The increase was primarily due to the effect of
loan originations as well as extending our expected loan repayment dates. The increase was partially offset by the favorable impacts of portfolio seasoning.
[4] During the three months ended March 31, 2025, our General CECL Allowance increased by $4.0 million. The increase was primarily due to a more adverse macroeconomic outlook as well as the effect of loan originations. The increase was partially offset by the favorable impacts of portfolio seasoning.
[5] Loans evaluated for Specific CECL Allowance are excluded from General CECL Allowance pool.
[6] Loans evaluated for Specific CECL Allowance are excluded from General CECL Allowance pool.