v3.26.1
Commercial Mortgage Loans Held for Investment - Schedule of Commercial Mortgage Loans held for Investment (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Loan
Dec. 31, 2025
USD ($)
Loan
Mortgage Loans On Real Estate [Line Items]    
Number of Loans | Loan [1] 14 15
Principal Balance [1] $ 313,329 $ 350,675
Unamortized (fees)/costs, net [1] 1,641 1,148
Allowance for credit losses [1] (9,618) (3,930)
Carrying Value [1] $ 305,352 $ 347,893
Weighted Average Interest Rate [2] 7.90% 7.30%
Weighted Average Years to Maturity [3] 7 months 6 days 4 months 24 days
First Mortgage Loans [Member]    
Mortgage Loans On Real Estate [Line Items]    
Number of Loans | Loan [1] 13 14
Principal Balance [1] $ 305,829 $ 343,175
Unamortized (fees)/costs, net [1] 1,641 1,148
Allowance for credit losses [1] (9,618) (3,930)
Carrying Value [1] $ 297,852 $ 340,393
Weighted Average Interest Rate [2] 7.80% 7.30%
Weighted Average Years to Maturity [3] 7 months 6 days 4 months 24 days
Credit Loans [Member]    
Mortgage Loans On Real Estate [Line Items]    
Number of Loans | Loan [1] 1 1
Principal Balance [1] $ 7,500 $ 7,500
Carrying Value [1] $ 7,500 $ 7,500
Weighted Average Interest Rate [2] 9.20% 9.20%
Weighted Average Years to Maturity [3] 1 year 3 months 18 days 1 year 9 months 18 days
[1] First mortgage loans are first position mortgage loans and credit loans are mezzanine and subordinated loans.
[2] Weighted average interest rate is based on the loan spreads plus the applicable indices as of the last interest reset date, which is typically the 15th of each month. On June 15, 2026, the one-month term USD Secured Overnight Financing Rate (“SOFR”) rate reset to 3.63%. On December 15, 2025, the SOFR rate reset to 3.75%. Weighted average interest rate excludes maturity default interest and interest on loans placed on nonaccrual status.
[3] Weighted average years to maturity excludes allowable extensions on the loans.