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Loans and Investments - Investment Portfolio and Concentration of Credit Risk (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2022
USD ($)
loan
property
Dec. 31, 2021
USD ($)
loan
property
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
SCHEDULE IV        
Loans and investments $ 14,456,123 $ 12,158,995    
Allowance for credit losses (132,559) (113,241) $ (148,329)  
Unearned revenue 68,890 64,706    
Loans and investments, net $ 14,254,674 $ 11,981,048 $ 5,285,868 $ 4,189,960
Percent of Total 100.00% 100.00%    
Loan Count | loan 747 580    
Wtd. Avg. Pay Rate (as a percent) 8.17% 4.26%    
Wtd. Avg. Remaining Months to Maturity 20 months 18 days 24 months 18 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 1.00% 1.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00% 76.00%    
Concentration of Credit Risk        
SCHEDULE IV        
Loans and investments $ 14,456,123      
Wtd. Avg. First Dollar LTV Ratio (as percent) 1.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00%      
Concentration of Credit Risk | Single-Family Rental        
SCHEDULE IV        
Loans and investments $ 963,218      
Percent of Total 7.00%      
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00%      
Wtd. Avg. Last Dollar LTV Ratio (as percent) 64.00%      
Total Assets | Concentration of Credit Risk        
SCHEDULE IV        
Loan Count | loan 38 31    
Number of different borrowers | property 5 5    
Concentration Risk Threshold Percentage 11 11    
Total Assets | Concentration of Credit Risk | Five Borrowers        
SCHEDULE IV        
Concentration risk, percentage 10.00% 10.00%    
Loans and investments portfolio | Concentration of Credit Risk | New York        
SCHEDULE IV        
Concentration risk, percentage   19.00%    
Bridge loans        
SCHEDULE IV        
Loans and investments $ 14,096,054 $ 11,750,710    
Percent of Total 98.00% 97.00%    
Loan Count | loan 692 528    
Wtd. Avg. Pay Rate (as a percent) 8.17% 4.19%    
Wtd. Avg. Remaining Months to Maturity 19 months 24 days 23 months 24 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00% 0.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 76.00% 76.00%    
Bridge loans | Single-Family Rental        
SCHEDULE IV        
Number of loans under the loan portfolio | loan 241 120    
Total loan commitment $ 1,570,000 $ 804,600,000    
Mezzanine loan        
SCHEDULE IV        
Loans and investments $ 213,499 $ 223,378    
Percent of Total 1.00% 2.00%    
Loan Count | loan 44 39    
Wtd. Avg. Pay Rate (as a percent) 8.13% 7.32%    
Wtd. Avg. Remaining Months to Maturity 63 months 3 days 56 months 9 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 42.00% 34.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 77.00% 84.00%    
Preferred equity investments        
SCHEDULE IV        
Loans and investments $ 110,725 $ 155,513    
Percent of Total 1.00% 1.00%    
Loan Count | loan 8 11    
Wtd. Avg. Pay Rate (as a percent) 7.63% 5.57%    
Wtd. Avg. Remaining Months to Maturity 39 months 6 days 38 months    
Wtd. Avg. First Dollar LTV Ratio (as percent) 46.00% 58.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 79.00% 87.00%    
Other loan        
SCHEDULE IV        
Loans and investments $ 35,845 $ 29,394    
Percent of Total 1.00% 1.00%    
Loan Count | loan 3 2    
Wtd. Avg. Pay Rate (as a percent) 8.76% 4.63%    
Wtd. Avg. Remaining Months to Maturity 32 months 24 days 48 months 3 days    
Wtd. Avg. First Dollar LTV Ratio (as percent) 0.00% 0.00%    
Wtd. Avg. Last Dollar LTV Ratio (as percent) 58.00% 67.00%    
Other loan | Single-Family Rental        
SCHEDULE IV        
Number of loans under the loan portfolio | loan 3 2    
Total loan commitment $ 927,400 $ 408,200