XML 51 R41.htm IDEA: XBRL DOCUMENT v3.23.1
Summary of Significant Accounting Policies - Merger (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Mar. 31, 2023
USD ($)
$ / shares
shares
Mar. 31, 2023
USD ($)
$ / shares
Mar. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
Purchase consideration        
Cash consideration paid by the Company to iStar   $ 88,685    
Purchase price allocation        
Goodwill [1] $ 155,797 155,797 $ 155,797  
Operating lease, right-of-use asset $ 37,032 $ 37,032 $ 37,032 $ 26,312
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Deferred Costs and Other Assets Deferred Costs and Other Assets Deferred Costs and Other Assets  
Office furniture and equipment $ 1,308 $ 1,308 $ 1,308  
Operating lease liability $ 19,636 $ 19,636 $ 19,636 $ 5,471
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accounts payable, accrued expenses and other liabilities Accounts payable, accrued expenses and other liabilities Accounts payable, accrued expenses and other liabilities  
Secured term loan facility        
Purchase consideration        
Provision for credit losses $ 2,300 $ 2,300    
iStar Merger        
Purchase consideration        
Total Company shares as purchase price | shares 1,195,034      
Stock price of the Company's common stock | $ / shares $ 29.78 $ 29.78 $ 29.78  
Fair value of the Company's stock transferred $ 35,588      
Cash consideration paid by the Company to iStar 88,685      
Purchase consideration $ 124,273      
Shares issued as settled for iStar preexisting investment in the Company which are excluded from purchase consideration | shares 12,700,000      
Merger expenses   $ 18,700 $ 26,400  
Merger related nonrecurring charges     2,700  
Purchase price allocation        
Cash and cash equivalents $ 3,213 3,213 3,213  
Real estate 1,508 1,508 1,508  
Equity investments 61,247 61,247 61,247  
Deferred expenses and other assets 25,442 25,442 25,442  
Total assets acquired 91,410 91,410 91,410  
Accounts payable, accrued expenses and other liabilities (22,939) (22,939) (22,939)  
Debt obligations, net (99,995) (99,995) (99,995)  
Total liabilities assumed (122,934) (122,934) (122,934)  
Net identifiable liabilities acquired (31,524) (31,524) (31,524)  
Goodwill 155,797 155,797 155,797  
Operating lease, right-of-use asset $ 11,000 $ 11,000 $ 11,000  
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Deferred Costs and Other Assets Deferred Costs and Other Assets Deferred Costs and Other Assets  
Prepaid expenses $ 4,700 $ 4,700 $ 4,700  
Operating lease liability $ 14,200 $ 14,200 $ 14,200  
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accounts payable, accrued expenses and other liabilities Accounts payable, accrued expenses and other liabilities Accounts payable, accrued expenses and other liabilities  
Obligations assumed which are directly offset by corresponding equivalent cash and receivable assets acquired sufficient to settle such obligations. $ 8,700 $ 8,700 $ 8,700  
iStar Merger | Fair Value, Inputs, Level 3        
Purchase price allocation        
Equity Securities, FV-NI, Measurement Input [Extensible Enumeration] Measurement Input, Discount Rate [Member] Measurement Input, Discount Rate [Member] Measurement Input, Discount Rate [Member]  
Debt Instrument, Measurement Input 6.7 6.7 6.7  
Debt Instrument, Measurement Input [Extensible Enumeration] Measurement Input, Discount Rate [Member] Measurement Input, Discount Rate [Member] Measurement Input, Discount Rate [Member]  
iStar Merger | Fair Value, Inputs, Level 3 | Measurement Input, Discount Rate [Member] | Minimum        
Purchase price allocation        
Equity Securities, FV-NI, Measurement Input 0.072 0.072 0.072  
iStar Merger | Fair Value, Inputs, Level 3 | Measurement Input, Discount Rate [Member] | Maximum        
Purchase price allocation        
Equity Securities, FV-NI, Measurement Input 0.139 0.139 0.139  
iStar Merger | Deferred expenses and other assets        
Purchase price allocation        
In-place prepaid contracts $ 2,100 $ 2,100 $ 2,100  
Office furniture and equipment 1,300 1,300 1,300  
Other receivables $ 6,300 6,300 $ 6,300  
iStar Merger | Other expense        
Purchase consideration        
Merger expenses   13,900    
Merger related nonrecurring charges   600    
iStar Merger | General and Administrative Expense        
Purchase consideration        
Merger expenses   $ 4,800    
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).