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v3.25.3

Loans Receivable, Net - Net Book Value, Total Loan Exposure and Net Loan Exposure of Loans Receivable Based on Internal Risk Ratings (Detail) $ in Thousands | 9 Months Ended | 12 Months Ended |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | ---
Sep. 30, 2025 USD ($) loan | Sep. 30, 2025 USD ($) security_loan | Dec. 31, 2024 USD ($) loan | Dec. 31, 2024 USD ($) security_loan | Jun. 30, 2025 USD ($) | Mar. 31, 2025 USD ($) | Sep. 30, 2024 USD ($) | Jun. 30, 2024 USD ($) | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items] |  |  |  |  |  |  |  |  |  |
Number of loans | 137 | 137 | 130 | 130 |  |  |  |  |  |
Net book value | $ 18,066,919 | $ 18,066,919 | $ 19,047,518 | $ 19,047,518 |  |  |  |  |  |
CECL reserve | (695,719) | (695,719) | (733,936) | (733,936) | $ (740,851) | $ (741,541) | $ (1,011,059) | $ (893,938) | $ (751,370) | $ (576,936)
Loans receivable, net | 17,371,200 | 17,371,200 | 18,313,582 | 18,313,582 |  |  |  |  |  |
Net loan exposure | 16,793,738 | 16,793,738 | 17,034,303 | 17,034,303 |  |  |  |  |  |
Cost-recovery proceeds | 69,200 | 69,200 | 106,700 | 106,700 |  |  |  |  |  |
Loan participations sold | 0 | 0 | 100,064 | 100,064 |  |  |  |  |  |
Junior Loan Participation |  |  |  |  |  |  |  |  |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |  |  |  |  |  |  |  |  |
Loan participations sold |  |  | 100,064 | 100,064 |  |  |  |  |  |
Asset-specific debt, net |  |  |  |  |  |  |  |  |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |  |  |  |  |  |  |  |  |
Principal balance | $ 629,890 | 629,890 | $ 1,228,110 | 1,228,110 |  |  |  |  |  |
1 |  |  |  |  |  |  |  |  |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |  |  |  |  |  |  |  |  |
Number of loans | loan | 6 |  | 11 |  |  |  |  |  |  |
Net book value | $ 409,199 | 409,199 | $ 1,919,280 | 1,919,280 |  |  |  |  |  |
Net loan exposure | $ 408,355 | 408,355 | $ 994,056 | 994,056 |  |  |  |  |  |
2 |  |  |  |  |  |  |  |  |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |  |  |  |  |  |  |  |  |
Number of loans | loan | 22 |  | 21 |  |  |  |  |  |  |
Net book value | $ 3,173,245 | 3,173,245 | $ 3,346,881 | 3,346,881 |  |  |  |  |  |
Net loan exposure | $ 3,007,691 | 3,007,691 | $ 3,349,347 | 3,349,347 |  |  |  |  |  |
3 |  |  |  |  |  |  |  |  |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |  |  |  |  |  |  |  |  |
Number of loans | loan | 80 |  | 65 |  |  |  |  |  |  |
Net book value | $ 10,578,120 | 10,578,120 | $ 9,246,692 | 9,246,692 |  |  |  |  |  |
Net loan exposure | $ 10,087,715 | 10,087,715 | $ 8,818,346 | 8,818,346 |  |  |  |  |  |
4 |  |  |  |  |  |  |  |  |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |  |  |  |  |  |  |  |  |
Number of loans | loan | 17 |  | 20 |  |  |  |  |  |  |
Net book value | $ 2,732,203 | 2,732,203 | $ 2,707,104 | 2,707,104 |  |  |  |  |  |
Net loan exposure | $ 2,619,771 | 2,619,771 | $ 2,622,877 | 2,622,877 |  |  |  |  |  |
5 |  |  |  |  |  |  |  |  |  |
Financing Receivable, Credit Quality Indicator [Line Items] |  |  |  |  |  |  |  |  |  |
Number of loans | loan | 12 |  | 13 |  |  |  |  |  |  |
Net book value | $ 1,174,152 | 1,174,152 | $ 1,827,561 | 1,827,561 |  |  |  |  |  |
Net loan exposure | $ 670,206 | $ 670,206 | $ 1,249,677 | $ 1,249,677 |  |  |  |  |  |

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