XML 50 R41.htm IDEA: XBRL DOCUMENT v3.23.2
Summary of Significant Accounting Policies - Merger (Details)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2023
USD ($)
$ / shares
shares
Jun. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Purchase consideration          
Cash consideration paid by the Company to iStar     $ 88,685    
Purchase price allocation          
Deferred tax asset, net   $ 6,228 6,228 $ 6,228  
Goodwill [1]   149,505 149,505 149,505  
Operating lease, right-of-use asset   $ 36,015 $ 36,015 $ 36,015 $ 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   $ 1,187 $ 1,187 $ 1,187  
Operating lease liability   $ 18,342 $ 18,342 $ 18,342 $ 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 Accounts payable, accrued expenses and other liabilities
Secured term loan facility          
Purchase consideration          
Provision for credit losses $ 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        
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   $ 100 $ 18,900 $ 26,500  
Merger related nonrecurring charges   300   3,000  
Purchase price allocation          
Cash and cash equivalents $ 3,213        
Real estate 1,508        
Equity investments 61,247        
Deferred tax asset, net 6,292 6,300 6,300 6,300  
Deferred expenses and other assets 25,442        
Total assets acquired 97,702        
Accounts payable, accrued expenses and other liabilities (22,939)        
Debt obligations, net (99,995)        
Total liabilities assumed (122,934)        
Net identifiable liabilities acquired (25,232)        
Goodwill 149,505        
Operating lease, right-of-use asset $ 11,000        
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Deferred Costs and Other Assets        
Prepaid expenses $ 4,700        
Operating lease liability $ 14,200        
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] 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        
Deferred tax assets valuation allowance   2,800 2,800 $ 2,800  
Reduction in goodwill   $ 6,300      
iStar Merger | Fair Value, Inputs, Level 3          
Purchase price allocation          
Equity Securities, FV-NI, Measurement Input [Extensible Enumeration] Measurement Input, Discount Rate [Member]        
Debt Instrument, Measurement Input 6.7        
Debt Instrument, Measurement Input [Extensible Enumeration] 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        
iStar Merger | Fair Value, Inputs, Level 3 | Measurement Input, Discount Rate [Member] | Maximum          
Purchase price allocation          
Equity Securities, FV-NI, Measurement Input 0.139        
iStar Merger | Deferred expenses and other assets          
Purchase price allocation          
In-place prepaid contracts $ 2,100        
Office furniture and equipment 1,300        
Other receivables 6,300        
iStar Merger | Other expense          
Purchase consideration          
Merger expenses     14,100    
Merger related nonrecurring charges     900    
iStar Merger | General and Administrative Expense          
Purchase consideration          
Merger expenses     $ 4,800    
iStar Merger | Previously Reported [Member]          
Purchase consideration          
Purchase consideration 124,273        
Purchase price allocation          
Cash and cash equivalents 3,213        
Real estate 1,508        
Equity investments 61,247        
Deferred expenses and other assets 25,442        
Total assets acquired 91,410        
Accounts payable, accrued expenses and other liabilities (22,939)        
Debt obligations, net (99,995)        
Total liabilities assumed (122,934)        
Net identifiable liabilities acquired (31,524)        
Goodwill 155,797        
iStar Merger | Revision of Prior Period, Adjustment [Member]          
Purchase price allocation          
Deferred tax asset, net 6,292        
Total assets acquired 6,292        
Net identifiable liabilities acquired 6,292        
Goodwill $ (6,292)        
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).