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Loans and Investments - Non-performing Loans (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
USD ($)
loan
Mar. 31, 2025
USD ($)
loan
Dec. 31, 2025
USD ($)
loan
Loans and Investments      
Number of loans | loan 545   632
Bridge loans, total UPB $ 337,364   $ 384,930
Number of nonaccrual loans with specific reserves | loan   2  
UPB of nonaccrual loans with specific reserves   $ 74,100  
Financing receivable, nonaccrual, specific reserve   7,300  
Interest income recognized on nonaccrual loans $ 6,700 $ 4,500  
Non-performing loans      
Loans and Investments      
Number of loans | loan 19   26
Carrying value of loans $ 460,000   $ 545,000
Loan loss reserves 16,100   10,200
Bridge loans, total UPB 481,450   569,137
Non-performing loans | Financial Asset, Greater Than 60 Days Past Due      
Loans and Investments      
Interest receivable 200   6,600
Bridge loans, total UPB $ 20,800   $ 237,000