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Agreements and Transactions with Related Parties - 2025 Activity (Details)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Apr. 30, 2025
USD ($)
Nov. 30, 2025
USD ($)
Oct. 31, 2025
USD ($)
Aug. 31, 2025
USD ($)
May 31, 2025
USD ($)
officer
Feb. 28, 2025
USD ($)
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2020
USD ($)
Jan. 31, 2025
USD ($)
Agreements and Transactions with Related Parties                    
Interest income             $ 235,047 $ 240,693    
Loans and investments funded, originated and purchased             826,093 733,121    
Clarus Berkley                    
Agreements and Transactions with Related Parties                    
Equity participation interest (as a percentage)   3.60%                
Other Related Party Transactions | Clarus Berkley                    
Agreements and Transactions with Related Parties                    
Noncontrolling interest   $ 1,500                
Other Related Party Transactions | Related Party | Maturity Date February 2027                    
Agreements and Transactions with Related Parties                    
Base spread, percentage           4.75%       5.50%
Other Related Party Transactions | Immediate Family Member of Management or Principal Owner | Maturity Date May 2026 | Single-Family Rental | Preferred equity interest financing agreement                    
Agreements and Transactions with Related Parties                    
Interest income             800 1,000    
Proceeds from interest received         $ 1,900          
Other Related Party Transactions | Immediate Family Member of Management or Principal Owner | Maturity Date February 2027                    
Agreements and Transactions with Related Parties                    
Percentage of ownership interest of related party in the entity           10.00%        
Bridge loans | Related Party | Maturity Date May 2027, Committed In May 2025                    
Agreements and Transactions with Related Parties                    
Interest income             1,000 1,400    
Bridge loans | Related Party | Maturity Date February 2027                    
Agreements and Transactions with Related Parties                    
Interest income             700 200    
Bridge loans | Other Related Party Transactions | Related Party                    
Agreements and Transactions with Related Parties                    
Principal amount   $ 67,900                
Equity participation interest (as a percentage)   4.30%                
Equity investments made by related parties   $ 1,800                
Base spread, percentage   2.50%                
SOFR floor, percentage   2.50%                
Interest income             1,100      
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date November 2028                    
Agreements and Transactions with Related Parties                    
Principal amount   $ 44,800                
Equity participation interest (as a percentage)   1.00%                
Base spread, percentage   4.25%                
SOFR floor, percentage   3.50%                
Loan committed             0      
Financing receivable, length of extension period   1 year                
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date October 2028                    
Agreements and Transactions with Related Parties                    
Principal amount     $ 50,500              
Equity participation interest (as a percentage)     4.60%              
Base spread, percentage     4.25%              
SOFR floor, percentage     3.50%              
Loan committed             0      
Financing receivable, length of extension period     1 year              
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date August 2026                    
Agreements and Transactions with Related Parties                    
Principal amount       $ 4,000            
Base spread, percentage       3.25%            
SOFR floor, percentage       4.32%            
Interest income             100      
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date May 2026 | Single-Family Rental                    
Agreements and Transactions with Related Parties                    
Principal amount $ 32,500       43,000          
Loans and investments funded, originated and purchased         1,200       $ 3,500  
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date November 2025 | Single-Family Rental                    
Agreements and Transactions with Related Parties                    
Principal amount $ 30,500       $ 36,200          
Equity participation interest (as a percentage)         33.70%       18.90%  
Base spread, percentage 4.25%       3.00%          
SOFR floor, percentage 1.00%       3.25%          
Interest income             700 $ 1,000    
Proceeds from interest received         $ 1,300          
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date May 2027, Committed In May 2025                    
Agreements and Transactions with Related Parties                    
Principal amount $ 56,900       $ 58,400          
Equity participation interest (as a percentage)         4.00%          
Base spread, percentage 5.50%       2.75%          
SOFR floor, percentage 3.25%       3.50%          
Number of officers making minority equity investments | officer         2          
Equity investments         $ 500          
Bridge loans | Other Related Party Transactions | Related Party | Maturity Date February 2027                    
Agreements and Transactions with Related Parties                    
Principal amount           $ 52,600       $ 46,200
Equity participation interest (as a percentage)           70.00%        
Loan committed             $ 31,300      
Bridge loans | Other Related Party Transactions | Immediate Family Member of Management or Principal Owner | Maturity Date May 2026 | Single-Family Rental                    
Agreements and Transactions with Related Parties                    
Equity participation interest (as a percentage)         26.60%       21.80%  
Base spread, percentage 3.75%       3.00%          
SOFR floor, percentage 0.75%       3.25%          
Preferred equity investments | Other Related Party Transactions | Related Party | Maturity Date November 2025 | Single-Family Rental                    
Agreements and Transactions with Related Parties                    
Loans and investments funded, originated and purchased                 $ 4,600  
Fixed rate of interest                 12.00%  
Preferred equity investments | Other Related Party Transactions | Immediate Family Member of Management or Principal Owner | Maturity Date May 2026 | Single-Family Rental                    
Agreements and Transactions with Related Parties                    
Fixed rate of interest         12.00%