v3.26.1
LOANS HELD-FOR-INVESTMENT - Schedule of Loans Held for Investment (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held-for-investment and related receivables, net $ 3,379,068 $ 3,752,467
Less: Current expected credit losses (290,707) (297,878)
Total loans held-for-investment and related receivables, net 3,088,361 3,454,589
First mortgage loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held-for-investment and related receivables, net 2,951,719 3,361,679
Total CRE loans held-for-investment and related receivables, net    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held-for-investment and related receivables, net 2,951,719 3,361,679
Total loans held-for-investment and related receivables, net 2,672,202 3,074,451
Liquid corporate senior loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held-for-investment and related receivables, net 26,880 26,909
Total loans held-for-investment and related receivables, net 22,732 22,664
Corporate senior loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held-for-investment and related receivables, net 400,469 363,879
Total loans held-for-investment and related receivables, net $ 393,427 $ 357,474