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Real Estate Securities - Narrative (Details) | 3 Months Ended | 9 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | ---
Sep. 30, 2025 USD ($) Investment | Sep. 30, 2024 USD ($) | Sep. 30, 2025 USD ($) Investment | Sep. 30, 2024 USD ($) | Jun. 30, 2025 USD ($) | Dec. 31, 2024 USD ($) Investment | Jun. 30, 2024 USD ($) | Dec. 31, 2023 USD ($)
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |  |  |  |
AFS | $ 284,372,000 |  | $ 284,372,000 |  |  | $ 211,474,000 |  |
Debt securities, available-for-sale, realized gain | 0 |  | 1,200,000 |  |  |  |  |
Net unrealized gain on available-for-sale ("AFS") securities | $ 2,362,000 | $ 7,373,000 | $ 6,322,000 | $ 17,083,000 |  |  |  |
Number of AFS securities (in investments) | Investment | 63 |  | 63 |  |  | 90 |  |
Number of securities in unrealized loss position | Investment | 11 |  | 11 |  |  | 20 |  |
Number of securities in a continuous unrealized loss position for twelve consecutive months or longer (in investments) | Investment | 11 |  | 11 |  |  | 11 |  |
Allowance for credit loss | $ 795,000 | $ 867,000 | $ 795,000 | $ 867,000 | $ 839,000 | $ 921,000 | $ 1,339,000 | $ 2,482,000
Legacy Bridge Loans |  |  |  |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |  |  |  |
Fair value of loans | 484,000,000 |  | 484,000,000 |  | 484,000,000 |  |  |
Residential |  |  |  |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |  |  |  |
AFS securities, contractual maturities, less than five years | 0 |  | 0 |  |  |  |  |
Marketable securities, due from five to ten years | 5,000,000 |  | 5,000,000 |  |  |  |  |
Subordinate |  |  |  |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |  |  |  |
AFS | 284,372,000 |  | 284,372,000 |  |  | 140,242,000 |  |
Allowance for credit loss | 795,000 |  | 795,000 |  |  | $ 921,000 |  |
Subordinate | Legacy Investments |  |  |  |  |  |  |  |
Debt and Equity Securities, FV-NI [Line Items] |  |  |  |  |  |  |  |
AFS | $ 182,000,000 |  | $ 182,000,000 |  | $ 182,000,000 |  |  |

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