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Commercial Mortgage Loans Held for Investment - Schedule of Commercial Mortgage Loans held for Investment Portfolio (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]      
Balance at Beginning of Year $ 563,071    
Balance at Beginning of Year, Allowance for credit losses (13,898) [1] $ (21,849)  
Balance at Beginning of Year, Carrying value 549,173 [1] 722,003  
Loan originations 2,043 10,217 $ 23,073
Principal repayments (99,369) (123,778) (107,520)
Sale of loan [3] (47,476) [2] (12,749) [4] (17,433)
Amortization of loan origination and deferred exit fees 1,445 600 865
Deferred interest capitalized on real estate loan 631    
Origination fees and extension fees received on commercial loans (1,316) (1,184)  
Transfer on foreclosure to real estate owned [6] (61,826) [5] (53,887) [7]  
Loan written off [8],[9] (5,380)    
Reversal of credit losses 1,091    
Provision for credit losses, Allowance for credit losses   (2,481)  
Provision for credit losses, charge-offs [12] 8,877 [10],[11] 10,432 [7] 3,483
Provision for credit losses,carrying value   (2,481)  
Balance at End of Period 351,823 563,071  
Balance at End of Period, Allowance for credit losses (3,930) [1] (13,898) [1] (21,849)
Balance at End of Period, Carrying value 347,893 [1] 549,173 [1] 722,003
Commercial Mortgage Loans at Cost      
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]      
Balance at Beginning of Year 563,071 743,852  
Loan originations 2,043 10,217  
Principal repayments (99,369) (123,778)  
Sale of loan (47,476) [2] (12,749) [4]  
Amortization of loan origination and deferred exit fees 1,445 600  
Deferred interest capitalized on real estate loan 631    
Origination fees and extension fees received on commercial loans (1,316) (1,184)  
Transfer on foreclosure to real estate owned (61,826) [5] (53,887) [7]  
Loan written off [8] (5,380)    
Balance at End of Period $ 351,823 $ 563,071 $ 743,852
[1] First mortgage loans are first position mortgage loans and credit loans are mezzanine and subordinated loans.
[2] Relates to the sale of a loan that was placed on nonaccrual status as of July 15, 2025. The Company completed the sale of the loan in September 2025 and recognized a loss on sale of $8,413 on the loan, which is included within net realized (loss) gain on disposition of commercial loans in the accompanying consolidated statements of operations.
[3] The Company sold one loan during 2025, one loan during 2024 and one loan during 2023. See Note 3 and Note 5 for further information.
[4] Relates to sale of a loan at par. The loan was placed on nonaccrual status as of February 1, 2024 and any subsequent cash collected was being applied to the principal balance. The Company completed the sale of the loan in September 2024 and recognized a gain on sale of $929 on the loan. See Note 5 for further information.
[5] Relates to the acquisition of two properties secured by senior loans. See Note 13 – “Real Estate Owned” for additional information.
[6] The Company acquired one multifamily and one office property during 2025. The Company acquired one multifamily and two office properties during 2024. See Note 13 for further information.
[7] Relates to acquisition of two properties secured by a senior loan in July 2024 and one property secured by a senior loan in October 2024. See Note 13 - “Real Estate Owned” for additional information.
[8] Relates to write-off of a loan. See “Asset-Specific CECL Reserve” section below for further information.
[9] Relates to write-off of a loan. See Note 3 for further information.
[10] Relates to the acquisition of two properties secured by senior loans, settlement of a loan and write-off of a loan. See Note 13 – “Real Estate Owned” and “Asset-Specific CECL Reserve” section below for additional information.
[11] Relates to the acquisition of two properties secured by senior loans, settlement of a loan and write-off of a loan. See Note 13 – “Real Estate Owned” and “Asset-Specific CECL Reserve” section below for additional information.
[12] Relates to the acquisition of properties secured by senior loans, sale of loans, settlement of a loan and write-off of a loan. See Note 3, Note 5 and Note 13 for additional information.