v3.25.3
FAIR VALUE MEASUREMENTS - Narrative (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
loan
Sep. 30, 2025
USD ($)
loan
Sep. 30, 2025
USD ($)
loan
Sep. 30, 2025
USD ($)
property
loan
Sep. 30, 2024
USD ($)
property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Number of real estate properties secured through foreclosure | property       2  
Gain on disposition of real estate, net   $ 7,876     $ 4,460
Impairment of real estate, number of properties | property       3 7
First Mortgage Loans          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Number of impaired risk-rated loans, nonaccrual status | loan 0 0 0 0  
First mortgage loans, credit loss reserve $ 243,300 $ 243,300 $ 243,300 $ 243,300  
Number of loan investments | loan 6 6 6 6  
Nonaccrual status with a carrying value $ 833,900 $ 833,900 $ 833,900 $ 833,900  
First Mortgage Loans | Maximum | Discount Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Loans receivable, measurement input 14.00% 14.00% 14.00% 14.00%  
First Mortgage Loans | Maximum | Terminal Capitalization Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Loans receivable, measurement input 9.00% 9.00% 9.00% 9.00%  
First Mortgage Loans | Minimum | Discount Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Loans receivable, measurement input 10.00% 10.00% 10.00% 10.00%  
First Mortgage Loans | Minimum | Terminal Capitalization Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Loans receivable, measurement input 8.00% 8.00% 8.00% 8.00%  
Commercial Real Estate | First Mortgage Loans          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair value of the net real estate asset   $ 151,000      
Property          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Impairment of real estate assets   7,700     $ 51,500
Property | Fair Value          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Real estate asset deemed to be impaired $ 105,000 $ 105,000 $ 105,000 $ 105,000 115,400
Condominium Units          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Impairment of real estate, number of properties     0 0  
Impairment of real estate assets         $ 8,900
First lien mortgage loan | First Mortgage Loans | Maximum | Discount Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Loans receivable, measurement input 10.80% 10.80% 10.80% 10.80%  
First lien mortgage loan | First Mortgage Loans | Maximum | Terminal Capitalization Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Loans receivable, measurement input 9.00% 9.00% 9.00% 9.00%  
First lien mortgage loan | First Mortgage Loans | Minimum | Discount Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Loans receivable, measurement input 10.00% 10.00% 10.00% 10.00%  
First lien mortgage loan | First Mortgage Loans | Minimum | Terminal Capitalization Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Loans receivable, measurement input 8.50% 8.50% 8.50% 8.50%  
First lien mortgage loan | Consolidated Properties          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Number of impaired risk-rated loans, nonaccrual status | loan 2 2 2 2  
First lien mortgage loan | Consolidated Properties | Office          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Number of real estate properties secured through foreclosure | property       2  
Aggregate gross sales price $ 91,300 $ 91,300 $ 91,300 $ 91,300  
Net proceeds from sales 87,800        
Gain on disposition of real estate, net $ 1,100