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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Real estate owned, accumulated depreciation $ 23,266 $ 10,404
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock, liquidation preference $ 169,260 $ 169,260
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized 450,000,000 450,000,000
Common stock, shares issued 138,174,636 141,358,605
Common stock, shares outstanding 138,174,636 141,358,605
Collateral pledged under secured debt arrangements $ 7,134,992 [1],[2] $ 8,384,575
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss 486,800 $ 693,700
Financing receivable, pledged status   us-gaap:AssetPledgedAsCollateralMember
CECL allowance 373,336 $ 219,482
Specific CECL Allowance 342,500 193,000
General CECL allowance 30,836 26,482
General CECL allowance on unfunded commitments $ 5,948 $ 4,017
Series B-1 Preferred Stock    
Preferred stock, shares outstanding 6,770,393 6,770,393
Preferred stock, shares issued 6,770,393 6,770,393
Commercial Mortgage Portfolio Segment    
Collateral pledged under secured debt arrangements [1] $ 6,745,514  
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss 6,715,347 $ 7,705,491
Subordinate Mortgage Portfolio Segment    
Collateral pledged under secured debt arrangements $ 389,478 [1],[3] 232,991
Secured Debt Arrangements    
Collateral pledged under secured debt arrangements   $ 154,048
[1] Excludes Note receivable, held for sale with an outstanding principal and carrying value of $41.2 million.
[2] The aggregate cost for U.S. federal income tax purposes is $7.4 billion.
[3] Subject to prior liens of approximately $115.5 million. Represents only third-party liens.