v3.26.1
Fair Value of Financial Instruments - Summary of Changes in Investments (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Fair Value, Net Asset (Liability) [Abstract]        
Net realized loss on investments $ (585) $ (317) $ (1,405) $ (841)
Net unrealized gain (loss) on investments (1,015) (262) 491 (975)
Commercial Real Estate Loan Investments [Member]        
Fair Value, Net Asset (Liability) [Abstract]        
Beginning balance 2,428,080 871,906 2,177,027 370,401
Loan originations and fundings 510,741 446,472 835,623 947,977
Repayments (38,436) 0 (113,614) (0)
Return of capital 0 0 0 0
Net realized loss on investments 0 0 0 0
Net unrealized gain (loss) on investments 0 0 1,349 0
Ending balance 2,900,385 1,318,378 2,900,385 1,318,378
Mortgage Servicing Rights [Member]        
Fair Value, Net Asset (Liability) [Abstract]        
Beginning balance 73,396 79,376 74,848 9,835
Loan originations and fundings 0 2,525 50 73,404
Repayments 0 0 0 0
Return of capital (61,167) (358) (62,783) (983)
Net realized loss on investments 0 0 0 0
Net unrealized gain (loss) on investments (582) (262) (468) (975)
Ending balance 11,647 81,281 11,647 81,281
Residential Bridge Loans [Member]        
Fair Value, Net Asset (Liability) [Abstract]        
Beginning balance 27,570 3,029 27,735 2,750
Loan originations and fundings 8,302 16,858 15,267 17,137
Repayments (2,268) (274) (9,398) (274)
Return of capital 0 0 0 0
Net realized loss on investments 0 0 0 0
Net unrealized gain (loss) on investments 0 0 0 0
Ending balance 33,604 19,613 33,604 19,613
Tax Lien [Member]        
Fair Value, Net Asset (Liability) [Abstract]        
Beginning balance 285,331 56,144 368,943 68,082
Loan originations and fundings 235,014 311,854 239,447 317,409
Repayments (109,347) (26,824) (196,615) (43,793)
Return of capital 0 0 0 0
Net realized loss on investments (585) (317) (1,405) (841)
Net unrealized gain (loss) on investments (433) 0 (390) 0
Ending balance $ 409,980 $ 340,857 $ 409,980 $ 340,857