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Loans and Investments - 2024 Loan Resolution (Details)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Jul. 31, 2024
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Dec. 31, 2024
USD ($)
property
loan
Dec. 31, 2023
USD ($)
Dec. 31, 2024
USD ($)
loan
Dec. 31, 2023
USD ($)
loan
Dec. 31, 2022
USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Number of loans | loan           776 747  
Bridge loans, total UPB           $ 611,696 $ 427,929  
Recoveries of reserves           12,959 4,776 $ 1,500
Loan loss reserves charged-off           12,209 5,700  
Loans and investments, gross       $ 11,304,956 $ 12,615,006 $ 11,304,956 $ 12,615,006  
AWC Real Estate Opportunity Partners I LP                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Investment in real estate committed         24,000      
Ownership interest, percentage       49.00%   49.00%    
AWC Real Estate Opportunity Partners I LP                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Investment in real estate committed           $ 9,400    
Independent Ownership Groups                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Investment in real estate committed           11,800    
Unconsolidated VIEs                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Loan loss reserves related to VIEs       $ 90,500   90,500    
Bridge Loans                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Bridge loans, total UPB   $ 100,300     $ 100,300      
Houston Properties                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Number of foreclosed properties | property       2        
Number of loans | loan       2        
Proceeds from sale of real estate   101,300 $ 239,400          
Houston Properties | Unconsolidated VIEs                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Proceeds from sale of real estate, capitalized amount   $ 15,000   $ 21,200   21,200    
Houston Properties | Bridge Loans                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Bridge loans, total UPB       $ 73,300        
Financing receivable, basis spread on variable rate       0.0329        
Financing receivable, floor interest rate       0.0068        
Financing receivable, after allowance for credit loss       $ 56,500   56,500    
Loan loss reserves related to VIEs       9,000   9,000    
Holdback reserves       8,200        
Recoveries of reserves       7,700        
Loan loss reserves charged-off       $ 1,300        
Variable rate, spread (as a percent)   3.00%            
Houston Properties | Bridge Loans | Financing Receivable, Period One                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Weighted average fixed interest rate       4.25%        
Houston Properties | Bridge Loans | Financing Receivable, Period Two                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Weighted average fixed interest rate       5.75%        
Houston Properties | Bridge Loans | Unconsolidated VIEs                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Short-term debt   $ 95,300            
Sale Of Houston Properties                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Proceeds from sale of real estate       $ 67,600        
Loss on sale of loans       $ 5,000        
Sale Of Houston Properties | Bridge Loans                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Number of new loans originated | loan       2        
Loans and investments, gross       $ 67,600   $ 67,600    
Waco Property | Bridge Loans                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Bridge loans, total UPB $ 12,700              
Financing receivable, basis spread on variable rate 0.0375              
Financing receivable, floor interest rate 0.0010              
Financing receivable, after allowance for credit loss $ 11,300              
Loan loss reserves related to VIEs 1,500              
Recoveries of reserves 1,000              
Sale Of Waco Property                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Proceeds from sale of real estate 12,300              
Loss on sale of loans $ 1,000              
Sale Of Waco Property | Bridge Loans                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Financing receivable, floor interest rate 0.0525              
Loans and investments, gross $ 12,300              
Savannah Property                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Proceeds from sale of real estate 7,700              
Loss on sale of loans 500              
Gain on sale of loans 300              
Savannah Property | Bridge Loans                
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                
Bridge loans, total UPB $ 7,300              
Financing receivable, basis spread on variable rate 0.0375              
Financing receivable, floor interest rate 0.0010              
Financing receivable, after allowance for credit loss $ 6,600              
Loan loss reserves related to VIEs 800              
Recoveries of reserves 800              
Loans and investments, gross $ 7,300              
Financing receivable, fixed interest rate 0.0400              
Financing receivable, fixed accrual rate 2.00%