v3.26.3
Commercial Real Estate Loans - Schedule of Loan Risk Ratings (Details)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2026
USD ($)
loan
Dec. 31, 2025
USD ($)
loan
Sep. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Number of Loans (in loans) | loan 37 53    
Carrying Value $ 3,137,554 $ 5,347,756    
Outstanding Principal $ 3,151,502 $ 5,361,863    
Outstanding Principal % 100.00% 100.00%    
Allowance for credit losses $ (187,436) $ (201,924) $ (157,344) $ (117,103)
Commercial real estate loans, held-for-investment, net 2,950,118 5,145,832    
Consolidated Entity, Excluding VIE        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Carrying Value 3,137,554 5,347,756    
Allowance for credit losses (187,436) (201,924)    
Commercial real estate loans, held-for-investment, net $ 2,950,118 $ 5,145,832    
Very Low Risk        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Number of Loans (in loans) | loan 0 0    
Carrying Value $ 0 $ 0    
Outstanding Principal $ 0 $ 0    
Outstanding Principal % 0.00% 0.00%    
Low Risk        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Number of Loans (in loans) | loan 0 2    
Carrying Value $ 0 $ 283,816    
Outstanding Principal $ 0 $ 283,906    
Outstanding Principal % 0.00% 5.00%    
Average Risk        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Number of Loans (in loans) | loan 34 46    
Carrying Value $ 2,813,066 $ 4,405,274    
Outstanding Principal $ 2,822,759 $ 4,415,095    
Outstanding Principal % 90.00% 82.00%    
High Risk/Potential for Loss        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Number of Loans (in loans) | loan 0 1    
Carrying Value $ 0 $ 90,671    
Outstanding Principal $ 0 $ 90,671    
Outstanding Principal % 0.00% 2.00%    
Impaired/Loss Likely        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Number of Loans (in loans) | loan 3 4    
Carrying Value $ 324,488 $ 567,995    
Outstanding Principal $ 328,743 $ 572,191    
Outstanding Principal % 10.00% 11.00%