v3.26.1
LOANS HELD-FOR-INVESTMENT - Schedule of Loans Held-For-Investment Portfolio (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
loan
Dec. 31, 2025
USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 77  
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
Weighted Average Risk Rating 3.6  
Liquid corporate senior loans    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of loans, nonaccrual status | loan 3  
Nonaccrual status with a carrying value $ 6,000  
Percentage carrying value of loan portfolio (less than) 100.00%  
First mortgage loans    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 30  
2026 $ 55,456  
2025 560,184  
2024 183,514  
2023 265,306  
2022 1,228,384  
Prior 658,875  
Loans held-for-investment and related receivables, net $ 2,951,719 3,361,679
First mortgage loans | 1    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 0  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 0  
Loans held-for-investment and related receivables, net $ 0  
First mortgage loans | 2    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 0  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 0  
Loans held-for-investment and related receivables, net $ 0  
First mortgage loans | 3    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 21  
2026 $ 55,456  
2025 560,184  
2024 80,877  
2023 230,550  
2022 552,382  
Prior 302,422  
Loans held-for-investment and related receivables, net $ 1,781,871  
First mortgage loans | 4    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 3  
2026 $ 0  
2025 0  
2024 102,637  
2023 34,756  
2022 172,150  
Prior 0  
Loans held-for-investment and related receivables, net $ 309,543  
First mortgage loans | 5    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 6  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 503,852  
Prior 356,453  
Loans held-for-investment and related receivables, net $ 860,305  
Liquid corporate senior loans    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 8  
2026 $ 0  
2025 0  
2024 6,166  
2023 1,711  
2022 13,518  
Prior 5,485  
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
Liquid corporate senior loans | 1    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 0  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 0  
Loans held-for-investment and related receivables, net $ 0  
Liquid corporate senior loans | 2    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 0  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 0  
Loans held-for-investment and related receivables, net $ 0  
Liquid corporate senior loans | 3    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 3  
2026 $ 0  
2025 0  
2024 1,867  
2023 1,711  
2022 13,518  
Prior 0  
Loans held-for-investment and related receivables, net $ 17,096  
Liquid corporate senior loans | 4    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 2  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 3,798  
Loans held-for-investment and related receivables, net $ 3,798  
Liquid corporate senior loans | 5    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 3  
2026 $ 0  
2025 0  
2024 4,299  
2023 0  
2022 0  
Prior 1,687  
Loans held-for-investment and related receivables, net $ 5,986  
Corporate senior loans    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 39  
2026 $ 34,712  
2025 129,270  
2024 95,411  
2023 84,496  
2022 56,580  
Prior 0  
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
Corporate senior loans | 1    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 0  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 0  
Loans held-for-investment and related receivables, net $ 0  
Corporate senior loans | 2    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 0  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 0  
Loans held-for-investment and related receivables, net $ 0  
Corporate senior loans | 3    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 36  
2026 $ 34,712  
2025 129,270  
2024 95,411  
2023 72,811  
2022 30,469  
Prior 0  
Loans held-for-investment and related receivables, net $ 362,673  
Corporate senior loans | 4    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 3  
2026 $ 0  
2025 0  
2024 0  
2023 11,685  
2022 26,111  
Prior 0  
Loans held-for-investment and related receivables, net $ 37,796  
Corporate senior loans | 5    
Financing Receivable, Credit Quality Indicator [Line Items]    
Number of Loans | loan 0  
2026 $ 0  
2025 0  
2024 0  
2023 0  
2022 0  
Prior 0  
Loans held-for-investment and related receivables, net $ 0