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Investments in Equity Affiliates - Narrative (Details)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Apr. 30, 2024
USD ($)
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
investment
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Investment in Equity Affiliates                
Income (loss) from equity affiliates   $ 3,177     $ 809 $ 7,388 $ 20,694  
Indirect ownership percentage           12.30%   12.30%
Payments to acquire interest in newly formed entity           $ 17,845 1,029  
Bridge loans, total UPB           629,255   $ 427,929
Number of investments purchased | investment       4        
Loans to affiliates, balance   14,888       14,888    
Distributions from equity affiliates           11,224 15,552  
Interest income   286,522     336,474 905,002 1,000,159  
Bridge loans                
Investment in Equity Affiliates                
Bridge loans, total UPB $ 100,300              
Houston Properties                
Investment in Equity Affiliates                
Proceeds from sale of real estate $ 101,300              
Houston Properties | Bridge loans                
Investment in Equity Affiliates                
Variable rate, spread 3.00%              
Capital Partner | AWC Real Estate Opportunity Partners I LP                
Investment in Equity Affiliates                
Subsidiary, non-controlling limited partnership interest     51.00%          
General partnership, ownership interest     17.50%          
Unconsolidated VIEs | Houston Properties | Bridge loans                
Investment in Equity Affiliates                
Short-term debt $ 95,300              
AWC Real Estate Opportunity Partners I LP                
Investment in Equity Affiliates                
Real estate investments, commitment, amount   9,400            
Arbor Residential Investor LLC                
Investment in Equity Affiliates                
Income (loss) from equity affiliates   (1,000)     (1,300) (100) 1,300  
Distribution received         7,500 $ 7,700 15,000  
Indirect ownership percentage           9.20%   9.20%
Loans to affiliates, balance   0       $ 0    
AMAC Holdings III LLC                
Investment in Equity Affiliates                
Distribution received             1,100  
Noncontrolling interest           2,600    
Loss on investment   500     700 1,700 1,600  
Loans to affiliates, balance   0       0    
Fifth Wall Ventures                
Investment in Equity Affiliates                
Income (loss) from equity affiliates   (300)     (800) 100 (1,000)  
Noncontrolling interest   100       800 800  
Loans to affiliates, balance   0       0    
AWC Real Estate Opportunity Partners I LP                
Investment in Equity Affiliates                
Income (loss) from equity affiliates   (200)       (400)    
Noncontrolling interest   5,100       13,600    
Real estate investments, commitment, amount       $ 24,000        
Real estate investments funded       $ 13,000       $ 13,000
Percentage of interest in real estate fund       0.990        
Loan to affiliate       $ 900        
General partnership interest       0.010        
Loan to affiliate, funded amount   $ 300       $ 300    
Ownership interest, percentage   49.00%       49.00%    
Payments for investments, legal, and administrative expenses       $ 14,300        
Loans to affiliates, balance   $ 13,200   13,200   $ 13,200   13,200
Distributions from equity affiliates   11,200            
Interest income   2,400       9,000    
AWC Real Estate Opportunity Partners I LP | Federal National Mortgage Association (FNMA)                
Investment in Equity Affiliates                
Loans to affiliates, balance       13,000       $ 13,000
AWC Real Estate Opportunity Partners I LP | AWC Real Estate Opportunity Partners I LP                
Investment in Equity Affiliates                
Ownership interest, percentage     49.00%          
AWC Real Estate Opportunity Partners I LP | Capital Partner                
Investment in Equity Affiliates                
Real estate investments, commitment, amount     $ 25,000          
Loan to affiliate, funded amount   $ 16,300       $ 16,300    
Newly Formed Entity | AWC Real Estate Opportunity Partners I LP                
Investment in Equity Affiliates                
Ownership interest, percentage     42.00%          
Payments to acquire interest in newly formed entity     $ 6,300          
North Vermont Avenue | Newly Formed Entity                
Investment in Equity Affiliates                
Equity method investment, amount sold       $ 1,300        
The Park at Via Terrossa                
Investment in Equity Affiliates                
Ownership interest, percentage   4.96%       4.96%    
Loans to affiliates, balance   $ 0       $ 0    
The Park at Via Terrossa | Other Related Party Transactions                
Investment in Equity Affiliates                
Distribution from investment classified as return capital           600    
Lexford Portfolio                
Investment in Equity Affiliates                
Distribution received   4,900       9,000 7,200  
Loans to affiliates, balance   $ 0       $ 0    
Equity Participation Interest                
Investment in Equity Affiliates                
Proceeds from sale         $ 3,500   $ 14,500