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Commercial Mortgage Loans, Subordinate Loans and Other Lending Assets, Net - Schedule of Activity Relating to Loan Portfolio (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Principal Balance      
Principal value, beginning balance $ 7,134,992    
New loan fundings 460,452 $ 0  
Principal value, ending balance 7,721,798    
Specific CECL Allowance      
Specific provision for loan loss, beginning (30,836)    
Specific provision for loan loss, ending (34,712)    
Carry Value, Net      
Payments to Fund Commercial Mortgage Loans 460,452 0  
General CECL allowance (34,712)   $ (30,836)
Carrying value, net 7,728,286   $ 7,145,356
Commercial Mortgage and Subordinated Portfolio Segment      
Principal Balance      
Principal value, beginning balance 7,550,410    
New loan fundings 460,452    
Add-on loan fundings 72,867    
Loan repayments and sale (93,400)    
Gain (loss) on foreign currency translation 148,405    
Principal value, ending balance 8,138,734    
Deferred Fees/Other Items      
Deferred fees/other items, beginning (31,718)    
Gain (loss) on foreign currency translation (503)    
Deferred fees and other items (6,854)    
Amortization of fees 5,839    
Deferred fees/other items, ending (33,236)    
Specific CECL Allowance      
Specific provision for loan loss, beginning (342,500) (193,000)  
Specific provision for loan loss, ending (342,500) $ (335,000)  
Carry Value, Net      
Carrying value, beginning balance 7,176,192    
Payments to Fund Commercial Mortgage Loans 460,452    
Add-on loan fundings 72,867    
Loan repayments (93,400)    
Gain (loss) on foreign currency translation 147,902    
Deferred fees and other items (6,854)    
Amortization of fees 5,839    
Carrying value, ending balance $ 7,762,998