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Fair Value of Financial Instruments - Schedule of Carrying Value and Estimated Fair Value of the Company's Financial Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Financial Assets:      
Cash and cash equivalents $ 235,514 $ 187,107 $ 232,497
Equity Investments, carrying value 142,915 147,116  
Derivative Asset, carrying value 3,828 6,510  
Collateralized debt obligations:      
Subordinated debentures, carrying value 45,000 45,000  
Senior unsecured notes:      
Senior unsecured notes, carrying value 158,492 $ 98,111  
Mortgages payable on real estate, carrying value $ 800,657    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets  
Fair Value, Measurements, Recurring      
Financial Assets:      
Equity Investment, estimated fair value $ 142,915 $ 147,116  
VIE, Primary Beneficiary      
Collateralized debt obligations:      
Collateralized debt obligations, fair value 275,200    
VIE, Primary Beneficiary | Mortgages      
Senior unsecured notes:      
Mortgages payable on real estate, carrying value 592,919 784,421  
Residential loan securitizations at amortized cost, net      
Collateralized debt obligations:      
Carrying Value 972,389 1,276,780  
Residential loan securitizations at amortized cost, net | VIE, Primary Beneficiary      
Collateralized debt obligations:      
Carrying Value 972,389 1,276,780  
Consolidated SLST      
Collateralized debt obligations:      
Carrying Value 1,577,111 593,737  
Consolidated SLST | VIE, Primary Beneficiary      
Collateralized debt obligations:      
Carrying Value 1,577,111 593,737  
Senior unsecured notes at amortized cost, net      
Senior unsecured notes:      
Senior unsecured notes, carrying value 98,492 98,111  
Senior unsecured notes at fair value      
Senior unsecured notes:      
Senior unsecured notes, carrying value 60,000    
Level 1 | Fair Value, Measurements, Recurring      
Financial Assets:      
Cash and cash equivalents 235,514 187,107  
Cash and cash equivalents, estimated fair value 235,514 187,107  
Equity Investment, estimated fair value 0 0  
Level 3 | Fair Value, Measurements, Recurring      
Financial Assets:      
Equity Investments, carrying value 142,915 147,116  
Equity Investment, estimated fair value 142,915 147,116  
Collateralized debt obligations:      
Subordinated debentures, carrying value 45,000 45,000  
Subordinated debentures, estimated fair value 36,682 32,137  
Level 3 | Mortgages | Fair Value, Measurements, Recurring      
Senior unsecured notes:      
Mortgages payable on real estate, carrying value 592,919 784,421  
Mortgages payable on real estate, estimated fair value 565,929 761,194  
Mortgages payable on real estate in disposal group held for sale, carrying value 330,400 378,386  
Mortgages payable on real estate in disposal group held for sale, estimated fair value 329,336 377,735  
Level 3 | Residential loan securitizations at amortized cost, net | Fair Value, Measurements, Recurring      
Collateralized debt obligations:      
Carrying Value 972,389 1,276,780  
Collateralized debt obligations, fair value 939,527 1,237,531  
Level 3 | Consolidated SLST | VIE, Primary Beneficiary | Fair Value, Measurements, Recurring      
Collateralized debt obligations:      
Carrying Value 844,032 593,737  
Collateralized debt obligations, fair value 844,032 593,737  
Level 3 | Residential loans | Fair Value, Measurements, Recurring      
Financial Assets:      
Residential loans, carrying value 3,503,191 3,084,303  
Residential mortgage loans at fair value 3,503,191 3,084,303  
Level 3 | Multi-family loans | Fair Value, Measurements, Recurring      
Financial Assets:      
Preferred equity and mezzanine loan investments, carrying value 92,997 95,792  
Preferred equity and mezzanine loan investments, estimated fair value 92,997 95,792  
Level 2 | Fair Value, Measurements, Recurring      
Financial Assets:      
Investment securities available for sale: 2,672,079 2,013,817  
Equity Investment, estimated fair value 0 0  
Derivative Asset, carrying value 3,828 6,510  
Derivative Asset, estimated fair value 3,828 6,510  
Derivative assets in disposal group held for sale, carrying value 2,560 2,960  
Derivative assets in disposal group held for sale, estimated fair value 2,560 2,960  
Level 2 | Repurchase agreements | Fair Value, Measurements, Recurring      
Financial Liabilities:      
Repurchase agreements 2,952,289 2,471,113  
Level 2 | Residential loan securitizations at amortized cost, net | Fair Value, Measurements, Recurring      
Collateralized debt obligations:      
Residential loan securitizations at fair value, carrying value 733,079 0  
Residential loan securitizations at fair value 733,079 0  
Level 2 | Senior unsecured notes at amortized cost, net | Fair Value, Measurements, Recurring      
Senior unsecured notes:      
Senior unsecured notes, carrying value 98,492 98,111  
Senior unsecured notes, estimated fair value 96,197 94,952  
Level 2 | Senior unsecured notes at fair value | Fair Value, Measurements, Recurring      
Senior unsecured notes:      
Senior unsecured notes, carrying value 60,000 0  
Senior unsecured notes, estimated fair value $ 60,000 $ 0