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Loans and Investments - Loan Resolution (Details)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2025
USD ($)
property
Apr. 30, 2025
USD ($)
property
Jul. 31, 2024
USD ($)
Apr. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
property
loan
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
loan
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
loan
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Number of loans | loan                   706   776
Bridge loans, total UPB                   $ 617,789   $ 611,696
Provision for credit losses           $ 17,484     $ 27,469 23,454 $ 45,247  
Loan loss reserves                   19,143   12,209
Loans and investments $ 11,609,235 $ 11,609,235       11,609,235   $ 11,304,956   11,609,235   11,304,956
San Antonio Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Number of foreclosed properties | property   3                    
Sale Of San Antonio Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Proceeds from sale of real estate               $ 65,000        
Loss on sale of loans   $ 800                    
Austin Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Number of foreclosed properties | property     2                  
Sale Of Austin Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Proceeds from sale of real estate   20,700                    
Loss on sale of loans   100                    
Orange Park Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Number of foreclosed properties | property     2                  
Sale Of Orange Park Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Proceeds from sale of real estate   15,400                    
Loss on sale of loans   600                    
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 | San Antonio Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Bridge loans, total UPB   $ 77,700                    
Financing receivable, fixed interest rate   0.0525                    
Financing receivable, floor interest rate   0.0050                    
Financing receivable, after allowance for credit loss 66,600 $ 66,600       66,600       66,600    
Loan loss reserves related to VIEs 3,500 3,500       3,500       3,500    
Provision for credit losses   5,900                    
Loan loss reserves   9,400                    
Bridge loans | Sale Of San Antonio Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Loans and investments 65,000 $ 65,000       65,000       65,000    
Bridge loans | Sale Of San Antonio Properties | Financing Receivable, Periods One And Two                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Financing receivable, basis spread on variable rate   0.0200                    
Bridge loans | Sale Of San Antonio Properties | Financing Receivable, Period Three                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Financing receivable, floor interest rate   0.0625                    
Financing receivable, basis spread on variable rate   0.0300                    
Bridge loans | Sale Of San Antonio Properties | Financing Receivable, Period One                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Financing receivable, floor interest rate   0.0425                    
Bridge loans | Sale Of San Antonio Properties | Financing Receivable, Period Two                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Financing receivable, floor interest rate   0.0525                    
Bridge loans | Austin Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Bridge loans, total UPB     $ 21,200                  
Financing receivable, floor interest rate     0.0025                  
Financing receivable, after allowance for credit loss     $ 21,700                  
Provision for credit losses     $ 1,000                  
Financing receivable, basis spread on variable rate     0.0400                  
Bridge loans | Sale Of Austin Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Loans and investments 19,200 $ 19,200       19,200       19,200    
Bridge loans | Sale Of Austin Properties | Financing Receivable, Period One                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Financing receivable, basis spread on variable rate   0.0200                    
Bridge loans | Sale Of Austin Properties | Financing Receivable, Period Two                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Financing receivable, basis spread on variable rate   0.0300                    
Bridge loans | Orange Park Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Bridge loans, total UPB     $ 17,000                  
Financing receivable, floor interest rate     0.0246                  
Financing receivable, after allowance for credit loss     $ 15,700                  
Provision for credit losses     $ 300                  
Financing receivable, basis spread on variable rate     0.0438                  
Bridge loans | Sale Of Orange Park Properties                        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                        
Loans and investments 14,800 $ 14,800       14,800       14,800    
Financing receivable, basis spread on variable rate   0.0150                    
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, 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
Loan loss reserves               $ 1,300        
Financing receivable, basis spread on variable rate               0.0329        
Holdback reserves               $ 8,200        
Loan reserve               $ 7,700        
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]                        
Loans and investments               $ 67,600       $ 67,600
Number of new loans originated | loan               2        
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, floor interest rate       0.0010                
Financing receivable, after allowance for credit loss       $ 11,300                
Loan loss reserves related to VIEs       $ 1,500                
Financing receivable, basis spread on variable rate       0.0375                
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, fixed interest rate       0.0400                
Financing receivable, floor interest rate       0.0010                
Financing receivable, after allowance for credit loss       $ 6,600                
Loan loss reserves related to VIEs       800                
Loans and investments       $ 7,300                
Financing receivable, basis spread on variable rate       0.0375                
Loan reserve       $ 800                
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 90,700 $ 90,700       90,700       90,700    
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 $ 21,200     $ 15,000 $ 21,200       $ 21,200    
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% 46.00%       46.00% 46.00% 49.00%   46.00%   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                   611   688