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Equity Investments, at Fair Value - Schedule of Equity Investments Accounted under the Equity Method (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Fair Value $ 143,755   $ 143,755   $ 152,246
Equity investments | Single-Family Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Fair Value 25,000   25,000   27,500
Equity investments | Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Fair Value $ 168,755   $ 168,755   $ 179,746
FF/RMI 20 Midtown, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 51.00%   51.00%   51.00%
Fair Value $ 28,108   $ 28,108   $ 27,079
Palms at Cape Coral, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 34.00%   34.00%   34.00%
Fair Value $ 5,635   $ 5,635   $ 5,429
America Walks at Port St. Lucie, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 62.00%   62.00%   62.00%
Fair Value $ 25,500   $ 25,500   $ 29,873
EHOF-NYMT Sunset Apartments Preferred, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 57.00%   57.00%   57.00%
Fair Value $ 18,894   $ 18,894   $ 18,139
Lucie at Tradition Holdings, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 70.00%   70.00%   70.00%
Fair Value $ 18,473   $ 18,473   $ 17,576
Syracuse Apartments and Townhomes, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 58.00%   58.00%   58.00%
Fair Value $ 20,854   $ 20,854   $ 20,115
Hudson Bridge Apartments, LLC - Series A, Briar Hill Apartments, LLC, Kings Glen Apartments, LLC, Flagstone Apartments, LLC, Brookfield Apartments II, LLC - Series B, and Silber JBSM Properties, LLC (collectively) | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 58.00%   58.00%   58.00%
Fair Value $ 9,570   $ 9,570   $ 9,277
Tides on 27th Investors, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 54.00%   54.00%   0.00%
Fair Value $ 16,721   $ 16,721   $ 0
1122 Chicago DE, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 0.00%   0.00%   53.00%
Fair Value $ 0   $ 0   $ 8,276
Bighaus, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 0.00%   0.00%   42.00%
Fair Value $ 0   $ 0   $ 16,482
Constructive Loans, LLC | Single-Family Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Purchase of residential loans $ 24,000 $ 82,100 $ 40,000 $ 252,300  
Constructive Loans, LLC | Equity investments | Single-Family Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 50.00%   50.00%   0.00%
Fair Value $ 25,000   $ 25,000   $ 27,500
Option to purchase issued and outstanding interests, percentage 50.00%   50.00%