XML 58 R48.htm IDEA: XBRL DOCUMENT v3.21.2
Commercial Mortgage Loans, Subordinate Loans and Other Lending Assets, Net - Additional Information (Details)
£ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Jan. 31, 2020
USD ($)
Jan. 31, 2020
GBP (£)
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
Mar. 31, 2020
GBP (£)
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Dec. 31, 2020
USD ($)
Sep. 30, 2021
GBP (£)
Nov. 30, 2020
USD ($)
Nov. 30, 2020
GBP (£)
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Mortgage loans on real estate, commercial and consumer, percentage of portfolio               100.00%   100.00%      
Interest receivable     $ 35,446,000         $ 35,446,000   $ 40,559,000      
Amortized cost of loans in cost recovery     399,800,000         399,800,000   373,500,000      
Interest received for loans in cost recovery     200,000 $ 300,000       1,000,000 $ 1,600,000        
Total carrying value, net     7,257,304,000         7,257,304,000   6,496,977,000      
Principal balance     7,289,988,000         7,289,988,000   6,535,079,000      
Increase in general CECL allowance     5,800,000                    
Payment in kind interest     10,200,000 12,500,000       40,700,000 37,300,000        
Proceeds from pre-payment penalties or accelerated fees     600,000 $ 0       1,200,000 $ 200,000        
Mixed Use, Cleveland, OH                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Amortized cost of loans in cost recovery     41,800,000         41,800,000          
Past Due 90                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Amortized cost of loans in cost recovery     750,900,000         $ 750,900,000   711,900,000      
Past Due 30-59                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Principal balance                   $ 19,000,000      
Urban Retail                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Mortgage loans on real estate, commercial and consumer, percentage of portfolio               9.70%   10.00%      
Total carrying value, net                       $ 422,700,000 £ 309.2
Principal balance     710,597,000         $ 710,597,000   $ 655,456,000      
Sale of Mezzanine Loan                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Proceeds from sale of loan $ 81,300,000 £ 62.2       $ 81,300,000 £ 62.2            
Realized loss on investment           0              
Sale of Unfunded Commitment of Senior Mortgage                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Proceeds from sale of loan $ 65,300,000 £ 50.0       65,300,000 £ 50.0            
Sale Of Mezzanine Loan Two                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Realized loss on investment           $ 0              
Sale of Construction Loan Interests                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Commitments sold         $ 376,900,000                
Funded amount of interests sold         127,000,000                
Gain (loss) on loan interests sold         $ 1,400,000                
Commercial Mortgage and Subordinated Portfolio Segment                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Total carrying value, net     152,500,000         152,500,000   136,100,000      
Principal balance     7,289,988,000         7,289,988,000   6,535,079,000      
Other income     3,700,000         3,700,000          
Realized loss on investment               (20,000,000)          
Commercial Mortgage and Subordinated Portfolio Segment | Urban Retail                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Total carrying value, net     351,100,000         351,100,000     £ 260.6 $ 338,400,000 £ 247.5
Subordinate Mortgage Portfolio Segment                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Total carrying value, net [1]     817,759,000         817,759,000   1,045,893,000      
Payment in kind interest               0   $ 800,000      
Maximum exposure to loss     64,600,000         $ 64,600,000          
Maximum exposure to loss, term               4 years 8 months 12 days          
Floating Rate Loan                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Mortgage loans on real estate, commercial and consumer, percentage of portfolio               97.00%   95.00%      
Senior Mezzanine Loans                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Total carrying value, net     234,300,000         $ 234,300,000          
Junior Mezzanine A Loan                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Total carrying value, net     134,900,000         134,900,000          
Junior Mezzanine B Loan                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Total carrying value, net     82,000,000         82,000,000          
Mezzanine Loans                          
Financing Receivable, Allowance for Credit Loss [Line Items]                          
Total carrying value, net     451,200,000         451,200,000          
Debt instrument, face amount     $ 318,600,000         318,600,000          
Payment in kind interest               $ 130,500,000          
[1] Net of $177,684 and $213,102 CECL Allowances in 2021 and 2020, respectively, comprised of $145,000 and $175,000 Specific CECL Allowance and $32,684 and $38,102 General CECL Allowance, respectively.