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Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of the Company's Financial Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Financial Assets:      
Cash and cash equivalents $ 227,753 $ 244,718 $ 303,762
Investment securities available for sale: 24,284 23,645  
Equity Investments, carrying value 191,148 179,746  
Equity investments in disposal group held for sale, carrying value 10,070 9,010  
Derivative Asset, carrying value 3,122 2,473  
Financial Liabilities:      
Subordinated debentures, carrying value 45,000 45,000  
Senior unsecured notes, carrying value 97,561 $ 97,384  
Mortgages payable on operating real estate, carrying value $ 545,112    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets  
Residential collateralized debt obligations      
Financial Liabilities:      
Carrying Value $ 1,390,991 $ 1,468,222  
Residential collateralized debt obligations | VIE, Primary Beneficiary      
Financial Liabilities:      
Carrying Value 1,390,991 1,468,222  
Consolidated SLST CDOs      
Financial Liabilities:      
Carrying Value 638,513 634,495  
Consolidated SLST CDOs | VIE, Primary Beneficiary      
Financial Liabilities:      
Carrying Value 638,513 634,495  
Level 1      
Financial Assets:      
Cash and cash equivalents 227,753 244,718  
Cash and cash equivalents, estimated fair value 227,753 244,718  
Level 2      
Financial Assets:      
Investment securities available for sale: 202,571 99,559  
Derivative Asset, carrying value 3,122 2,473  
Derivative Asset, estimated fair value 3,122 2,473  
Derivative assets in disposal group held for sale, carrying value 22,800 29,418  
Derivative assets in disposal group held for sale, estimated fair value 22,800 29,418  
Financial Liabilities:      
Senior unsecured notes, carrying value 97,561 97,384  
Senior unsecured notes, estimated fair value 91,732 91,104  
Level 2 | Portfolio Investments      
Financial Liabilities:      
Outstanding repurchase agreements 787,902 737,023  
Level 3      
Financial Assets:      
Equity Investments, carrying value 191,148 179,746  
Equity Investment, estimated fair value 191,148 179,746  
Equity investments in disposal group held for sale, carrying value 10,070 9,010  
Equity investments in disposal group held for sale, estimated fair value 10,070 9,010  
Financial Liabilities:      
Subordinated debentures, carrying value 45,000 45,000  
Subordinated debentures, estimated fair value 33,500 32,721  
Level 3 | Mortgage Note      
Financial Liabilities:      
Mortgages payable on operating real estate, carrying value 397,316 394,707  
Mortgages payable on operating real estate, estimated fair value 374,605 377,327  
Mortgages payable on real estate in disposal group held for sale, carrying value 878,060 865,414  
Mortgages payable on real estate in disposal group held for sale, estimated fair value 877,360 864,758  
Level 3 | Residential collateralized debt obligations      
Financial Liabilities:      
Carrying Value 1,390,991 1,468,222  
Secured debt, estimated fair value 1,321,342 1,383,715  
Level 3 | Consolidated SLST CDOs | VIE, Primary Beneficiary      
Financial Liabilities:      
Carrying Value 638,513 634,495  
Secured debt, estimated fair value 638,513 634,495  
Level 3 | Residential loans      
Financial Assets:      
Residential loans 3,374,856 3,525,080  
Residential mortgage loans, estimated fair value 3,374,856 3,525,080  
Level 3 | Multi-family loans      
Financial Assets:      
Preferred equity and mezzanine loan investments, carrying value 95,309 87,534  
Preferred equity and mezzanine loan investments, estimated fair value $ 95,309 $ 87,534