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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