v3.26.3
Real Estate Owned - Narrative (Details)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Aug. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
May 31, 2025
USD ($)
Apr. 30, 2025
USD ($)
Jun. 30, 2024
Dec. 31, 2021
Sep. 30, 2026
USD ($)
property
Sep. 30, 2026
USD ($)
property
Sep. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Real Estate [Line Items]                      
Real estate acquisition costs                 $ 0 $ 10,651  
Write-offs charged                 165,541 $ 34,828  
Commercial real estate loans, held-for-investment               $ 3,137,554 3,137,554   $ 5,347,756
Impaired/Loss Likely                      
Real Estate [Line Items]                      
Commercial real estate loans, held-for-investment               $ 324,488 $ 324,488   $ 567,995
Raleigh, NC | Senior Mortgage Loan | Impaired/Loss Likely                      
Real Estate [Line Items]                      
Estimated fair value   $ 71,800                  
Raleigh, NC | Senior Mortgage Loan | Multifamily | Impaired/Loss Likely                      
Real Estate [Line Items]                      
Write-offs charged   14,400                  
Commercial real estate loans, held-for-investment   $ 85,500                  
Philadelphia | Commercial Real Estate Loans                      
Real Estate [Line Items]                      
Gain on sale of property       $ 500              
Number of real estate properties | property               1 1    
West Hollywood, CA | Senior Mortgage Loan                      
Real Estate [Line Items]                      
Gain on sale of property               $ 200      
West Hollywood, CA | Senior Mortgage Loan | Impaired/Loss Likely                      
Real Estate [Line Items]                      
Estimated fair value         $ 92,900            
West Hollywood, CA | Senior Mortgage Loan | Multifamily | Impaired/Loss Likely                      
Real Estate [Line Items]                      
Write-offs charged         20,400            
Commercial real estate loans, held-for-investment         $ 112,500            
Real estate owned | Portland, OR | REO JV                      
Real Estate [Line Items]                      
Real estate acquisition costs $ 9,100                    
Real estate owned | Portland, OR | Commercial Real Estate Loans                      
Real Estate [Line Items]                      
Gross price of property sold     $ 6,000                
Gain on sale of property     $ 700                
Primary beneficiary | Mountain View, CA | KKR Affiliate                      
Real Estate [Line Items]                      
Ownership percentage of partner (as a percent)           31.10%          
Primary beneficiary | Mountain View, CA | Commercial Real Estate Loans                      
Real Estate [Line Items]                      
Ownership percentage in VIE (as a percent)           68.90%          
Primary beneficiary | Real estate owned                      
Real Estate [Line Items]                      
Ownership percentage in VIE (as a percent)             90.00%        
Primary beneficiary | Real estate owned | JV Partner                      
Real Estate [Line Items]                      
Ownership percentage of partner (as a percent)             10.00%