v3.24.2
Loans Receivable, Net - Property Type and Geographic Distribution of Properties Securing Loans in Portfolio (Detail)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2024
USD ($)
loan
Jun. 30, 2024
USD ($)
security_loan
Jun. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
loan
Dec. 31, 2023
USD ($)
security_loan
Dec. 31, 2023
USD ($)
Mar. 31, 2024
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans 166 166   178 178          
Net Book Value $ 22,870,848 $ 22,870,848 $ 22,870,848 $ 23,787,012 $ 23,787,012 $ 23,787,012        
CECL reserve (893,938) (893,938) (893,938) (576,936) (576,936) (576,936) $ (751,370) $ (363,875) $ (336,591) $ (326,137)
Loans receivable, net 21,976,910 21,976,910 21,976,910 23,210,076 23,210,076 23,210,076        
Total Loan Exposure 23,635,509 23,635,509 23,635,509 24,971,028 24,971,028 24,971,028        
Net Loan Exposure 20,814,030 20,814,030 20,814,030 21,951,988 21,951,988 21,951,988        
Principal balance 23,010,660 23,010,660 23,010,660 23,923,719 23,923,719 23,923,719        
Total loan exposure including non-consolidated senior interests 725,400 725,400 725,400 1,100,000 1,100,000 1,100,000        
Loan participations sold 100,580 100,580 100,580 337,721 337,721 337,721        
Cost-recovery proceeds 76,300 76,300 76,300 53,000 53,000 53,000        
Asset-specific debt, net                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Total obligation 1,120,760 1,120,760 1,120,760 1,000,210 1,000,210 1,000,210        
Junior Loan Participation                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Loan participations sold $ 100,580 100,580 $ 100,580 100,924 100,924 100,924        
Senior Participations                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Loan participations sold       $ 236,797 236,797 $ 236,797        
Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     100.00%     100.00%        
Subtotal                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 130     141            
Net Book Value $ 14,893,777 14,893,777 $ 14,893,777 $ 15,460,479 15,460,479 $ 15,460,479        
Total Loan Exposure 15,678,048 15,678,048 15,678,048 16,652,620 16,652,620 16,652,620        
Net Loan Exposure $ 12,928,989 12,928,989 $ 12,928,989 $ 13,951,306 13,951,306 $ 13,951,306        
Subtotal | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     62.00%     64.00%        
Sunbelt                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 61     65            
Net Book Value $ 5,510,438 5,510,438 $ 5,510,438 $ 5,658,172 5,658,172 $ 5,658,172        
Total Loan Exposure 5,615,694 5,615,694 5,615,694 5,786,395 5,786,395 5,786,395        
Net Loan Exposure $ 5,119,961 5,119,961 $ 5,119,961 $ 5,402,732 5,402,732 $ 5,402,732        
Sunbelt | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     24.00%     25.00%        
Northeast                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 25     30            
Net Book Value $ 5,111,794 5,111,794 $ 5,111,794 $ 5,386,940 5,386,940 $ 5,386,940        
Total Loan Exposure 5,162,565 5,162,565 5,162,565 5,426,951 5,426,951 5,426,951        
Net Loan Exposure $ 3,908,921 3,908,921 $ 3,908,921 $ 4,340,660 4,340,660 $ 4,340,660        
Northeast | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     19.00%     20.00%        
West                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 29     31            
Net Book Value $ 2,895,255 2,895,255 $ 2,895,255 $ 3,088,644 3,088,644 $ 3,088,644        
Total Loan Exposure 3,516,394 3,516,394 3,516,394 4,108,074 4,108,074 4,108,074        
Net Loan Exposure $ 2,683,597 2,683,597 $ 2,683,597 $ 2,910,559 2,910,559 $ 2,910,559        
West | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     13.00%     13.00%        
Midwest                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 9     9            
Net Book Value $ 943,073 943,073 $ 943,073 $ 944,132 944,132 $ 944,132        
Total Loan Exposure 947,317 947,317 947,317 945,222 945,222 945,222        
Net Loan Exposure $ 783,171 783,171 $ 783,171 $ 913,973 913,973 $ 913,973        
Midwest | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     4.00%     4.00%        
Northwest                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 6     6            
Net Book Value $ 433,217 433,217 $ 433,217 $ 382,591 382,591 $ 382,591        
Total Loan Exposure 436,078 436,078 436,078 385,978 385,978 385,978        
Net Loan Exposure $ 433,339 433,339 $ 433,339 $ 383,382 383,382 $ 383,382        
Northwest | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     2.00%     2.00%        
Subtotal                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 36     37            
Net Book Value $ 7,977,071 7,977,071 $ 7,977,071 $ 8,326,533 8,326,533 $ 8,326,533        
Total Loan Exposure 7,957,461 7,957,461 7,957,461 8,318,408 8,318,408 8,318,408        
Net Loan Exposure $ 7,885,041 7,885,041 $ 7,885,041 $ 8,000,682 8,000,682 $ 8,000,682        
Subtotal | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     38.00%     36.00%        
United Kingdom                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 18     20            
Net Book Value $ 3,163,864 3,163,864 $ 3,163,864 $ 3,470,120 3,470,120 $ 3,470,120        
Total Loan Exposure 3,128,584 3,128,584 3,128,584 3,439,678 3,439,678 3,439,678        
Net Loan Exposure $ 3,109,414 3,109,414 $ 3,109,414 $ 3,181,489 3,181,489 $ 3,181,489        
United Kingdom | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     15.00%     14.00%        
Australia                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 5     5            
Net Book Value $ 1,414,495 1,414,495 $ 1,414,495 $ 1,429,144 1,429,144 $ 1,429,144        
Total Loan Exposure 1,421,417 1,421,417 1,421,417 1,437,870 1,437,870 1,437,870        
Net Loan Exposure $ 1,417,265 1,417,265 $ 1,417,265 $ 1,432,146 1,432,146 $ 1,432,146        
Australia | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     7.00%     7.00%        
Ireland                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 3     3            
Net Book Value $ 1,186,407 1,186,407 $ 1,186,407 $ 1,191,068 1,191,068 $ 1,191,068        
Total Loan Exposure 1,189,435 1,189,435 1,189,435 1,197,337 1,197,337 1,197,337        
Net Loan Exposure $ 1,181,231 1,181,231 $ 1,181,231 $ 1,188,554 1,188,554 $ 1,188,554        
Ireland | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     6.00%     5.00%        
Spain                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 3     3            
Net Book Value $ 1,075,481 1,075,481 $ 1,075,481 $ 1,117,790 1,117,790 $ 1,117,790        
Total Loan Exposure 1,077,083 1,077,083 1,077,083 1,120,375 1,120,375 1,120,375        
Net Loan Exposure $ 1,040,229 1,040,229 $ 1,040,229 $ 1,078,811 1,078,811 $ 1,078,811        
Spain | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     5.00%     5.00%        
Sweden                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 1     1            
Net Book Value $ 448,421 448,421 $ 448,421 $ 474,262 474,262 $ 474,262        
Total Loan Exposure 450,288 450,288 450,288 476,718 476,718 476,718        
Net Loan Exposure $ 449,900 449,900 $ 449,900 $ 476,281 476,281 $ 476,281        
Sweden | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     2.00%     2.00%        
Other Europe                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 5     5            
Net Book Value $ 631,014 631,014 $ 631,014 $ 644,149 644,149 $ 644,149        
Total Loan Exposure 632,654 632,654 632,654 646,430 646,430 646,430        
Net Loan Exposure $ 629,396 629,396 $ 629,396 $ 643,401 643,401 $ 643,401        
Other Europe | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     3.00%     3.00%        
Other International                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 1                  
Net Book Value $ 57,389 57,389 $ 57,389              
Total Loan Exposure 58,000 58,000 58,000              
Net Loan Exposure $ 57,606 57,606 $ 57,606              
Other International | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     0.00%              
Office                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 51     54            
Net Book Value $ 9,047,507 9,047,507 $ 9,047,507 $ 9,253,609 9,253,609 $ 9,253,609        
Total Loan Exposure 9,374,141 9,374,141 9,374,141 10,072,963 10,072,963 10,072,963        
Net Loan Exposure $ 7,348,500 7,348,500 $ 7,348,500 $ 7,956,472 7,956,472 $ 7,956,472        
Office | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     36.00%     36.00%        
Multifamily                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 68     73            
Net Book Value $ 5,838,389 5,838,389 $ 5,838,389 $ 5,876,128 5,876,128 $ 5,876,128        
Total Loan Exposure 6,006,124 6,006,124 6,006,124 5,997,886 5,997,886 5,997,886        
Net Loan Exposure $ 5,696,575 5,696,575 $ 5,696,575 $ 5,756,192 5,756,192 $ 5,756,192        
Multifamily | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     27.00%     26.00%        
Hospitality                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 20     23            
Net Book Value $ 3,786,040 3,786,040 $ 3,786,040 $ 4,161,525 4,161,525 $ 4,161,525        
Total Loan Exposure 3,823,926 3,823,926 3,823,926 4,194,588 4,194,588 4,194,588        
Net Loan Exposure $ 3,654,726 3,654,726 $ 3,654,726 $ 3,804,091 3,804,091 $ 3,804,091        
Hospitality | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     18.00%     17.00%        
Industrial                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 12     12            
Net Book Value $ 2,183,312 2,183,312 $ 2,183,312 $ 2,189,808 2,189,808 $ 2,189,808        
Total Loan Exposure 2,193,009 2,193,009 2,193,009 2,201,497 2,201,497 2,201,497        
Net Loan Exposure $ 2,159,637 2,159,637 $ 2,159,637 $ 2,190,914 2,190,914 $ 2,190,914        
Industrial | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     10.00%     10.00%        
Retail                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 6     6            
Net Book Value $ 713,181 713,181 $ 713,181 $ 814,241 814,241 $ 814,241        
Total Loan Exposure 738,450 738,450 738,450 834,825 834,825 834,825        
Net Loan Exposure $ 684,155 684,155 $ 684,155 $ 785,573 785,573 $ 785,573        
Retail | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     3.00%     4.00%        
Life Sciences / Studio                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 4     4            
Net Book Value $ 392,678 392,678 $ 392,678 $ 385,098 385,098 $ 385,098        
Total Loan Exposure 589,211 589,211 589,211 561,517 561,517 561,517        
Net Loan Exposure $ 391,463 391,463 $ 391,463 $ 384,219 384,219 $ 384,219        
Life Sciences / Studio | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     2.00%     2.00%        
Other                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Number of loans | loan 5     6            
Net Book Value $ 909,741 909,741 $ 909,741 $ 1,106,603 1,106,603 $ 1,106,603        
Total Loan Exposure 910,648 910,648 910,648 1,107,752 1,107,752 1,107,752        
Net Loan Exposure $ 878,974 $ 878,974 $ 878,974 $ 1,074,527 $ 1,074,527 $ 1,074,527        
Other | Loan Exposure Risk | Financing Receivables                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Net Loan Exposure Percentage of Portfolio     4.00%     5.00%