v3.25.4
Commercial Mortgage Loans Held for Investment - Additional Information (Details)
1 Months Ended 12 Months Ended
Jul. 01, 2025
USD ($)
Jul. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Loan
Dec. 31, 2024
USD ($)
Loan
Dec. 31, 2023
USD ($)
Mortgage Loans On Real Estate [Line Items]          
Number of loans risk rated two | Loan     5 13  
Number of loans risk rated three | Loan     8 6  
Number of loans risk rated four | Loan     2 4  
Number of loans risk rated five | Loan       2  
Asset specific CECL reserve     $ 942,000 $ 7,219,000  
Number of loans with asset specific allowance | Loan     1 6  
Increase (decrease) in CECL reserve     $ (10,042,000) $ 2,288,000  
Charge-offs, Allowance for credit losses [3]     8,877,000 [1],[2] 10,432,000 [4] $ 3,483,000
(Reversal of) provision for credit losses     (1,165,000) 2,288,000 16,911,000
Total CECL reserve     3,952,000 13,994,000 $ 22,138,000
Loan written off [5],[6]     5,380,000    
Nonaccrual Basis Loans          
Mortgage Loans On Real Estate [Line Items]          
Interest income accrued     2,569,000 426,000  
Reversal of interest income on loans     0 0  
Interest income forgone of loans on nonaccrual status     2,692,000 4,599,000  
Las Vegas, NV Loan          
Mortgage Loans On Real Estate [Line Items]          
Mortgage loans on real estate maturity date Dec. 31, 2025        
Las Vegas, NV Loan | Forbearance and Modification Agreement          
Mortgage Loans On Real Estate [Line Items]          
Loan balance plus all accrued and unpaid interest and lender fees $ 2,250,000        
Payment received from borrower   $ 500,000      
Loan written off     5,380,000    
Honolulu, HI Loan          
Mortgage Loans On Real Estate [Line Items]          
Asset specific CECL reserve     $ 0    
Mortgage loans on real estate maturity date     Feb. 09, 2026    
Principal balance paid down     $ 750,000    
Cash flow reserve deposit     600,000    
Modification fees     50,000    
Financing receivable accrued maturity default interest     631,000    
Troubled debt restructurings amortized cost basis     $ 12,700,000    
Percentage of loans receivable on commercial mortgage     3.60%    
Mortgage loans on real estate, outstanding     $ 12,700,000    
Charlotte, NC Loan          
Mortgage Loans On Real Estate [Line Items]          
Troubled debt restructurings amortized cost basis       $ 23,078,000  
Percentage of loans receivable on commercial mortgage       4.10%  
Financing receivable, waived maturity default interest       $ 738,000  
Financing receivable accrued interest rate, Paid-in-kind       4.00%  
[1] 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.
[2] 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.
[3] 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.
[4] 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.
[5] Relates to write-off of a loan. See “Asset-Specific CECL Reserve” section below for further information.
[6] Relates to write-off of a loan. See Note 3 for further information.