v3.25.3
Commercial Mortgage Loans Held for Investment - Schedule of Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Balance at Beginning of Year, Allowance for credit losses       $ (22,138)
Balance at Beginning of Year, Allowance for credit losses [1]     $ (13,898)  
Balance at beginning of period     (13,994)  
Reversal of (provision for) credit losses $ 892 $ (3,654) 3,404 (2,905)
Charge-offs, Allowance for credit losses     2,379 [2] 855 [3]
Balance at End of Period, Allowance for credit losses (8,211) (24,188) (8,211) (24,188)
Commercial Mortgage Loans        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Balance at Beginning of Year, Allowance for credit losses       (21,849)
Balance at beginning of period     (13,898)  
Reversal of (provision for) credit losses     3,357 (3,055)
Charge-offs, Allowance for credit losses     2,379 [4] 855 [3]
Balance at End of Period, Allowance for credit losses (8,162) (24,049) (8,162) (24,049)
Unfunded Loan Commitments        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Balance at Beginning of Year, Allowance for credit losses [5]       (289)
Balance at beginning of period [5]     (96)  
Reversal of (provision for) credit losses     47 [6] 150 [5]
Charge-offs, Allowance for credit losses [3],[5]       0
Balance at End of Period, Allowance for credit losses $ (49) [6] $ (139) [5] $ (49) [6] $ (139) [5]
[1] First mortgage loans are first position mortgage loans and credit loans are mezzanine and subordinated loans.
[2] Relates to the acquisition of two properties secured by senior loans. See Note 13 – “Real Estate Owned” for additional information.
[3] Relates to the acquisition of two properties secured by a senior loan in July 2024. See Note 13 - “Real Estate Owned” for additional information.
[4] Relates to the acquisition of two properties secured by senior loans. See Note 13 – “Real Estate Owned” for additional information.
[5] The reserve for expected credit losses related to unfunded loan commitments is recorded in “accrued expenses and other liabilities” on the consolidated balance sheets.
[6] The reserve for expected credit losses related to unfunded loan commitments is recorded in “accrued expenses and other liabilities” on the consolidated balance sheets.