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SCHEDULE IV - LOANS AND OTHER LENDING INVESTMENTS (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2024
USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens $ 2,291,951
Carrying value of loans 11,304,956
Carrying Amount 11,033,997
Carrying Amount Subject to Delinquent Interest 0
Amount of loans extended 5,990,000
Federal income tax basis $ 11,300,000
Threshold for reporting loans (as a percent) 3.00%
Bridge Loans  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens $ 0
Carrying value of loans 10,893,106
Carrying Amount 10,652,225
Carrying Amount Subject to Delinquent Interest 0
Mezzanine Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens 1,335,133
Carrying value of loans 255,556
Carrying Amount 234,749
Carrying Amount Subject to Delinquent Interest 0
Preferred Equity Investments | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens 956,818
Carrying value of loans 148,845
Carrying Amount 140,414
Carrying Amount Subject to Delinquent Interest 0
Other Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens 0
Carrying value of loans 7,449
Carrying Amount 6,609
Carrying Amount Subject to Delinquent Interest 0
Multifamily | Bridge Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens 0
Carrying value of loans 8,725,429
Carrying Amount 8,588,684
Carrying Amount Subject to Delinquent Interest $ 0
Multifamily | Bridge Loans | Loans less than 3% | Minimum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate (0.0125)
Floor rate (as a percent) 0.10%
Fixed interest rate (as a percent) 0.00%
Multifamily | Bridge Loans | Loans less than 3% | Maximum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0575
Floor rate (as a percent) 5.36%
Fixed interest rate (as a percent) 11.00%
Multifamily | Mezzanine Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens $ 1,335,133
Carrying value of loans 239,203
Carrying Amount 221,689
Carrying Amount Subject to Delinquent Interest $ 0
Multifamily | Mezzanine Loans | Loans less than 3% | Minimum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Fixed interest rate (as a percent) 0.00%
Multifamily | Mezzanine Loans | Loans less than 3% | Maximum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Fixed interest rate (as a percent) 14.00%
Multifamily | Preferred Equity Investments | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens $ 927,026
Carrying value of loans 143,645
Carrying Amount 137,163
Carrying Amount Subject to Delinquent Interest $ 0
Multifamily | Preferred Equity Investments | Loans less than 3% | Minimum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Fixed interest rate (as a percent) 0.00%
Multifamily | Preferred Equity Investments | Loans less than 3% | Maximum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Fixed interest rate (as a percent) 16.00%
Multifamily | Other Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Floor rate (as a percent) 4.00%
Fixed interest rate (as a percent) 4.25%
Prior Liens $ 0
Carrying value of loans 4,367
Carrying Amount 3,531
Carrying Amount Subject to Delinquent Interest $ 0
Multifamily | Other Loans | Loans less than 3% | Minimum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0550
Single‑Family Rental | Bridge Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens $ 0
Carrying value of loans 1,993,890
Carrying Amount 1,967,835
Carrying Amount Subject to Delinquent Interest $ 0
Single‑Family Rental | Bridge Loans | Loans less than 3% | Minimum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0295
Floor rate (as a percent) 0.10%
Single‑Family Rental | Bridge Loans | Loans less than 3% | Maximum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0620
Floor rate (as a percent) 5.36%
Single‑Family Rental | Other Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Floor rate (as a percent) 0.25%
Prior Liens $ 0
Carrying value of loans 3,082
Carrying Amount 3,078
Carrying Amount Subject to Delinquent Interest $ 0
Single‑Family Rental | Other Loans | Loans less than 3% | Minimum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0490
Land | Bridge Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0400
Floor rate (as a percent) 0.15%
Fixed interest rate (as a percent) 13.00%
Prior Liens $ 0
Carrying value of loans 125,877
Carrying Amount 47,977
Carrying Amount Subject to Delinquent Interest $ 0
Land | Mezzanine Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Fixed interest rate (as a percent) 0.00%
Prior Liens $ 0
Carrying value of loans 9,333
Carrying Amount 9,333
Carrying Amount Subject to Delinquent Interest $ 0
Land | Preferred Equity Investments | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Fixed interest rate (as a percent) 0.00%
Prior Liens $ 0
Carrying value of loans 3,500
Carrying Amount 3,251
Carrying Amount Subject to Delinquent Interest $ 0
Office | Bridge Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0350
Prior Liens $ 0
Carrying value of loans 35,410
Carrying Amount 35,229
Carrying Amount Subject to Delinquent Interest 0
Retail | Bridge Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Prior Liens 0
Carrying value of loans 12,500
Carrying Amount 12,500
Carrying Amount Subject to Delinquent Interest $ 0
Retail | Bridge Loans | Loans less than 3% | Minimum  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0350
Floor rate (as a percent) 1.00%
Retail | Mezzanine Loans | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Financing receivable, basis spread on variable rate 0.0350
Floor rate (as a percent) 1.00%
Fixed interest rate (as a percent) 0.00%
Prior Liens $ 0
Carrying value of loans 7,020
Carrying Amount 3,727
Carrying Amount Subject to Delinquent Interest $ 0
Commercial | Preferred Equity Investments | Loans less than 3%  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]  
Fixed interest rate (as a percent) 6.00%
Prior Liens $ 29,792
Carrying value of loans 1,700
Carrying Amount 0
Carrying Amount Subject to Delinquent Interest $ 0