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v3.23.2

Commercial Mortgage Loans, Subordinate Loans and Other Lending Assets, Net - Activity Relating to Loan Investment Portfolio (Details) - USD ($) $ in Thousands |  | 3 Months Ended | 6 Months Ended
--- | --- | --- | ---
May 24, 2021 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2023 | Jun. 30, 2022
Principal Balance |  |  |  |  |  |  |  |
Principal value, beginning balance |  |  |  |  |  |  | $ 8,708,214 |
Principal value, ending balance |  | $ 8,327,704 | $ 8,708,214 |  |  |  | 8,327,704 |
Deferred Fees/Other Items |  |  |  |  |  |  |  |
Net realized loss on investment |  |  |  |  |  |  | (763) |
Specific CECL Allowance |  |  |  |  |  |  |  |
Specific provision for loan loss, beginning |  |  |  |  |  |  | (133,500) |
Specific provision for loan loss, ending |  | (193,000) | (133,500) |  |  |  | (193,000) |
Carry Value, Net |  |  |  |  |  |  |  |
Increase in Specific CECL Allowance, net | $ (10,000) |  |  | $ 10,000 |  | $ (20,000) |  |
Net realized loss on investment |  | (81,980) |  | 0 |  |  | (86,604) | $ 0
General CECL allowance |  | (32,276) | (26,224) |  |  |  | (32,276) |
Carrying value, net |  | 8,295,428 | 8,681,990 |  |  |  | 8,295,428 |
Off-balance-sheet, credit loss, liability, amount excluded |  | 4,800 | 4,300 |  |  |  | 4,800 |
Commercial Mortgage and Subordinated Portfolio Segment |  |  |  |  |  |  |  |
Principal Balance |  |  |  |  |  |  |  |
Principal value, beginning balance |  |  |  |  |  |  | 8,892,767 |
New funding of loans |  |  |  |  |  |  | 181,017 |
Add-on loan fundings |  |  |  |  |  |  | 244,881 |
Loan repayments and sales |  |  |  |  |  |  | (734,647) |
Gain (loss) on foreign currency translation |  |  |  |  |  |  | 137,421 |
Net realized loss on investment |  |  |  |  |  |  | (87,367) |
Transfer to real estate owned |  |  |  |  |  |  | (75,000) |
Payment-in-kind interest and amortization of fees |  |  |  |  |  |  | 0 |
Principal value, ending balance |  | 8,559,072 | 8,892,767 |  |  |  | 8,559,072 |
Deferred Fees/Other Items |  |  |  |  |  |  |  |
Deferred fees/other items, beginning |  |  |  |  |  |  | (51,053) |
Gain (loss) on foreign currency translation |  |  |  |  |  |  | (737) |
Transfer to real estate owned |  |  |  |  |  |  | 0 |
Deferred fees and other items |  |  |  |  |  |  | (4,940) |
Payment-in-kind interest and amortization of fees |  |  |  |  |  |  | 17,599 |
Deferred fees/other items, ending |  | (38,368) | (51,053) |  |  |  | (38,368) |
Specific CECL Allowance |  |  |  |  |  |  |  |
Specific provision for loan loss, beginning |  | (133,500) |  | (175,000) | $ (145,000) |  | (133,500) | (145,000)
Specific provision for loan loss, ending |  | (193,000) | (133,500) | $ (172,000) | $ (175,000) |  | (193,000) | $ (172,000)
Carry Value, Net |  |  |  |  |  |  |  |
Carrying value, beginning balance |  |  |  |  |  |  | 8,708,214 |
New funding of loans |  |  |  |  |  |  | 181,017 |
Add-on loan fundings |  |  |  |  |  |  | 244,881 |
Loan repayments and sales |  |  |  |  |  |  | (734,647) |
Gain (loss) on foreign currency translation |  |  |  |  |  |  | 136,684 |
Increase in Specific CECL Allowance, net |  |  |  |  |  |  | (59,500) |
Transfer to real estate owned, held for sale |  |  |  |  |  |  | (75,000) |
Deferred fees and other items |  |  |  |  |  |  | (4,940) |
Payment-in-kind interest and amortization of fees |  |  |  |  |  |  | 17,599 |
Carrying value, ending balance |  | 8,327,704 | 8,708,214 |  |  |  | 8,327,704 |
Carrying value, net |  | $ 124,700 | $ 138,300 |  |  |  | $ 124,700 |

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