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v3.25.3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2025 | Dec. 31, 2024
--- | --- | ---
Real estate owned, accumulated depreciation | $ 31,035 | $ 23,266
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 | 138,943,831 | 138,174,636
Common stock, shares outstanding | 138,943,831 | 138,174,636
Collateral pledged under secured debt arrangements | $ 8,342,902 | $ 7,134,992
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss | 375,000 | 486,800
CECL allowance | 374,257 | 373,336
Specific CECL Allowance | 335,000 | 335,000
General CECL allowance | 39,257 | 30,836
General CECL allowance on unfunded commitments | $ 5,782 | $ 5,948
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 |  |
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss | $ 8,025,026 | $ 6,715,347

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