XML 65 R55.htm IDEA: XBRL DOCUMENT v3.25.1
Loans and Investments - Loan Resolution (Details)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
Jul. 31, 2024
USD ($)
Apr. 30, 2024
USD ($)
Mar. 31, 2025
USD ($)
loan
Dec. 31, 2024
USD ($)
property
loan
Dec. 31, 2024
USD ($)
loan
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Number of loans | loan       719   776
Bridge loans, total UPB       $ 697,193   $ 611,696
Loan loss reserves       4,000   12,209
Loans and investments       11,489,393 $ 11,304,956 11,304,956
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      
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 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        
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        
Bridge loans            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Bridge loans, total UPB     $ 100,300      
Bridge loans | Houston Properties            
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  
Loan reserve         7,700  
Loan loss reserves         $ 1,300  
Variable rate, spread     3.00%      
Bridge loans | Houston Properties | 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%  
Bridge loans | Houston Properties | 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%  
Bridge loans | Sale Of Houston Properties            
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         $ 67,600 $ 67,600
Bridge loans | Waco Property            
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        
Loan reserve   $ 1,000        
Bridge loans | Sale of Waco Property            
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   $ 12,300        
Bridge loans | Savannah Property            
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        
Loan reserve   800        
Loans and investments   $ 7,300        
Financing receivable, fixed interest rate   0.0400        
Financing receivable, fixed accrual rate   2.00%        
AWC Real Estate Opportunity Partners I LP            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Real estate investments, commitment, amount $ 9,400          
Independent Ownership Groups            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Real estate investments, commitment, amount 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       $ 88,500    
Unconsolidated VIEs | Houston Properties            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Proceeds from sale of real estate, capitalized amount $ 21,200   $ 15,000      
Unconsolidated VIEs | Bridge loans | Houston Properties            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Short-term debt     $ 95,300      
AWC Real Estate Opportunity Partners I LP | AWC Real Estate Opportunity Partners I LP            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Ownership interest, percentage       46.00% 49.00% 49.00%
AWC Real Estate Opportunity Partners I LP | Bridge loans            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Bridge loans, total UPB       $ 108,500    
Bridge loans            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Number of loans | loan       627   688