v3.26.3
COMMERCIAL LOANS AND INVESTMENTS - General Information (Details)
$ / shares in Units, $ in Thousands
 9 Months Ended 12 Months Ended
May 07, 2026
USD ($)
Apr. 17, 2026
USD ($)
Jan. 01, 2026
Jul. 11, 2024
USD ($)
$ / shares
shares
Sep. 30, 2026
USD ($)
agreement
loan
Sep. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Commercial Loans and Investments              
Mortgage loans on real estate, new preferred equity agreements during period, number | agreement         2    
Mortgage loans on real estate, new commercial loans during period, number | loan         1    
Mortgage loans on real estate, new aggregate investments during period, number | agreement         3    
Original Face Amount         $ 263,763   $ 159,650
Original Face Amount, funded at closing         126,200    
Preferred Equity Agreement, Mixed-use Property, Watters Creek at Montgomery Farm, Allen, Texas              
Commercial Loans and Investments              
Original Face Amount             $ 30,000
Collection of principal         30,000    
Coupon Rate (as a percent)             9.50%
Preferred Equity Agreements, 2026              
Commercial Loans and Investments              
Original Face Amount         133,400    
Fee income         1,600    
Preferred Equity Agreement, Class A Premier Retail Preferred Investment, Southwest              
Commercial Loans and Investments              
Original Face Amount   $ 75,000     $ 75,750    
Preferred investment, origination fee, percentage (as a percent)   1.25%          
Coupon Rate (as a percent)   12.00%     12.00%    
Coupon Rate, after year one (as a percent)   11.00%          
Coupon rate, paid-in-kind, after election (as a percent)   3.00%          
Coupon rate, paid-in-kind, after election, period   1 year          
Coupon rate, paid-in-kind, after election, interest rate, basis spread (as a percent)   1.00%          
Coupon rate, interest rate, after option to extend (as a percent)   13.00%          
Fee income   $ 900          
Preferred investment, option to extend, period   1 year          
Preferred Equity Agreement, Class A Premier Retail Preferred Investment, Southwest | Maximum              
Commercial Loans and Investments              
Original face amount, funding towards total investment, percentage (as a percent)   5.00%          
Preferred Equity Agreement, Grocery-Anchored Retail Development Preferred Investment, Northeast              
Commercial Loans and Investments              
Original Face Amount $ 21,400       $ 21,363    
Preferred equity agreement, option to extend, period 1 year            
Preferred investment, origination fee, percentage (as a percent) 1.00%            
Coupon Rate (as a percent) 12.00%       12.00%    
Coupon rate, paid-in-kind (as a percent) 3.00%       3.00%    
Coupon rate, interest rate, after option to extend (as a percent) 13.00%            
Coupon rate, interest rate, paid-in-kind, after option to extend (as a percent) 3.00%            
Fee income $ 200            
Original face amount, funding towards total investment, percentage (as a percent) 17.00%            
Construction Loans              
Commercial Loans and Investments              
Mortgage loan originated         $ 22,900 $ 7,800  
Collection of principal           6,000  
Construction Loan, Rivana, Herndon, Virginia              
Commercial Loans and Investments              
Original Face Amount         $ 59,450   $ 59,450
Coupon Rate (as a percent)     12.00%   12.00%   11.50%
Coupon rate, paid-in-kind (as a percent)     2.00%   2.00%    
Construction Loan, Whole Foods, Forsyth, Georgia              
Commercial Loans and Investments              
Original Face Amount         $ 40,200   $ 40,200
Coupon Rate (as a percent)         12.15%   12.15%
Series A Preferred Investment              
Commercial Loans and Investments              
Original Face Amount       $ 10,000 $ 10,000   $ 10,000
Preferred investment, preferred shares received, shares (in shares) | shares       10,000      
Preferred investment, preferred shares received, dividend rate, percentage (as a percent)       14.00%      
Preferred investment, preferred shares received, par vale, per share (in dollars per share) | $ / shares       $ 0.01      
Preferred investment, origination fee, percentage (as a percent)       1.00%      
Coupon Rate (as a percent)         14.00%   14.00%
Fee income       $ 100      
Mortgage Note, Main Street, Daytona Beach, Florida              
Commercial Loans and Investments              
Original Face Amount         $ 5,000 $ 5,000 $ 5,000
Coupon Rate (as a percent)         6.50% 6.50% 6.50%
Mortgage loans on real estate, origination fee, percentage (as a percent)           0.50%  
Mortgage Note, Main Street, Daytona Beach, Florida | Maximum              
Commercial Loans and Investments              
Fee income           $ 100