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Schedule IV - Mortgage Loans on Real Estate - Schedule of Reconciliation of Commercial Mortgage Loans, at Cost (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 [Abstract]      
Balance at Beginning of Year $ 549,173 $ 722,003 $ 842,278
Adoption of ASU 2016-13     (4,787)
Balance at beginning of period after adoption 549,173 722,003 837,491
Loan fundings 2,043 10,217 23,073
Amortization of deferred fees and expenses 1,445 600 865
Collections of principal (99,369) (123,778) (107,520)
Sale of loan [2] (47,476) [1] (12,749) [3] (17,433)
Transfer on foreclosure to real estate owned [5] (61,826) [4] (53,887) [6]  
Reversal of (provision for) credit losses 1,091 (2,481) (16,957)
Net fees capitalized into carrying value of loans (1,316) (1,184) (999)
Deferred interest capitalized into carrying value of loans 631    
Loan written off [7],[8] (5,380)    
Charge-offs, Allowance for credit losses [11] 8,877 [9],[10] 10,432 [6] 3,483
Balance at End of Period $ 347,893 [12],[13] $ 549,173 $ 722,003
[1] 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.
[2] 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.
[3] 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.
[4] Relates to the acquisition of two properties secured by senior loans. See Note 13 – “Real Estate Owned” for additional information.
[5] 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.
[6] 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.
[7] Relates to write-off of a loan. See “Asset-Specific CECL Reserve” section below for further information.
[8] Relates to write-off of a loan. See Note 3 for further information.
[9] 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.
[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 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.
[12] Cash coupon is the stated rate on the loan. Our first mortgage loans are all floating rate and each contains a minimum SOFR floor. As of December 31, 2025, the weighted average SOFR floor for these loans was 0.31%. An 80% undivided senior interest in First Mortgage Loan 1, which includes the right to receive priority interest payments at a rate of SOFR+2.00%, was sold by our Operating Partnership pursuant to a Loan Participation Agreement dated November 15, 2021. Our Operating Partnership has retained a 20% undivided subordinate interest in the loan.
[13] First mortgage loans are first position mortgage loans and credit loans are mezzanine and subordinated loans.