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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, 2024
Dec. 31, 2023
Mar. 31, 2023
Financial Assets:      
Cash and cash equivalents $ 226,939 $ 187,107 $ 227,753
Equity Investments, carrying value 137,943 147,116  
Derivative Asset, carrying value 7,143 6,510  
Collateralized debt obligations:      
Subordinated debentures, carrying value 45,000 45,000  
Senior unsecured notes, carrying value 98,299 $ 98,111  
Mortgages payable on operating real estate, carrying value $ 1,000,217    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets  
Fair Value, Measurements, Recurring      
Financial Assets:      
Equity Investment, estimated fair value $ 137,943 $ 147,116  
VIE, Primary Beneficiary | Mortgages      
Collateralized debt obligations:      
Mortgages payable on operating real estate, carrying value 850,743 784,421  
Residential loan securitizations at amortized cost, net      
Collateralized debt obligations:      
Carrying Value 1,108,594 1,276,780  
Residential loan securitizations at amortized cost, net | VIE, Primary Beneficiary      
Collateralized debt obligations:      
Carrying Value 1,108,594 1,276,780  
Consolidated SLST      
Collateralized debt obligations:      
Carrying Value 1,079,768 593,737  
Consolidated SLST | VIE, Primary Beneficiary      
Collateralized debt obligations:      
Carrying Value 1,079,768 593,737  
Level 1      
Financial Assets:      
Cash and cash equivalents 226,939 187,107  
Cash and cash equivalents, estimated fair value 226,939 187,107  
Level 1 | Fair Value, Measurements, Recurring      
Financial Assets:      
Equity Investment, estimated fair value 0 0  
Level 3      
Financial Assets:      
Equity Investments, carrying value 137,943 147,116  
Equity Investment, estimated fair value 137,943 147,116  
Collateralized debt obligations:      
Subordinated debentures, carrying value 45,000 45,000  
Subordinated debentures, estimated fair value 28,518 32,137  
Level 3 | Fair Value, Measurements, Recurring      
Financial Assets:      
Equity Investment, estimated fair value 137,943 147,116  
Level 3 | Mortgages      
Collateralized debt obligations:      
Mortgages payable on operating real estate, carrying value 850,743 784,421  
Mortgages payable on operating real estate, estimated fair value 825,042 761,194  
Mortgages payable on real estate in disposal group held for sale, carrying value 119,640 378,386  
Mortgages payable on real estate in disposal group held for sale, estimated fair value 118,669 377,735  
Level 3 | Residential loan securitizations at amortized cost, net      
Collateralized debt obligations:      
Carrying Value 1,108,594 1,276,780  
Collateralized debt obligations, fair value 1,082,924 1,237,531  
Level 3 | Consolidated SLST | VIE, Primary Beneficiary      
Collateralized debt obligations:      
Carrying Value 582,627 593,737  
Collateralized debt obligations, fair value 582,627 593,737  
Level 3 | Residential loans      
Financial Assets:      
Residential loans, carrying value 3,103,105 3,084,303  
Residential mortgage loans at fair value 3,103,105 3,084,303  
Level 3 | Multi-family loans      
Financial Assets:      
Preferred equity and mezzanine loan investments, carrying value 91,905 95,792  
Preferred equity and mezzanine loan investments, estimated fair value 91,905 95,792  
Level 2      
Financial Assets:      
Investment securities available for sale: 2,241,340 2,013,817  
Derivative Asset, carrying value 7,143 6,510  
Derivative Asset, estimated fair value 7,143 6,510  
Derivative assets in disposal group held for sale, carrying value 740 2,960  
Derivative assets in disposal group held for sale, estimated fair value 740 2,960  
Collateralized debt obligations:      
Senior unsecured notes, carrying value 98,299 98,111  
Senior unsecured notes, estimated fair value 95,861 94,952  
Level 2 | Fair Value, Measurements, Recurring      
Financial Assets:      
Equity Investment, estimated fair value 0 0  
Level 2 | Repurchase agreements      
Financial Liabilities:      
Repurchase agreements 2,512,008 2,471,113  
Level 2 | Residential loan securitizations at amortized cost, net      
Collateralized debt obligations:      
Residential loan securitizations at fair value, carrying value 497,141 0  
Residential loan securitizations at fair value $ 497,141 $ 0