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Real Estate, Net - Narrative (Details)
3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
property
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
jointVenture
Real Estate [Line Items]            
Net payments made on mortgages payable on real estate         $ (97,729,000) $ (33,262,000)
Gains on sale of real estate         8,592,000 0
Loss on extinguishment of collateralized debt obligations and mortgages payable on real estate $ (448,000) $ (1,699,000)     (448,000) (2,391,000)
Net income (loss)         81,291,000 (63,674,000)
Net income 39,785,000 40,466,000     81,291,000 (63,674,000)
Impairment of real estate 1,619,000 7,823,000     9,437,000 48,142,000
Multifamily            
Real Estate [Line Items]            
Loss on transfer of real estate to held for sale     $ 1,800,000      
Single Family            
Real Estate [Line Items]            
Loss on transfer of real estate to held for sale 1,400,000       1,600,000 4,000,000.0
Impairment of real estate, recovery impairment (loss) gain (1,600,000) 600,000     (2,300,000) (4,000,000)
Proceeds from sale of real estate 2,200,000 2,700,000     5,100,000 4,500,000
(Loss) gain on sale of real estate $ (500,000) $ (100,000)     (600,000) 200,000
VIE, Primary Beneficiary            
Real Estate [Line Items]            
Loss on disposal           $ 0
VIE, Primary Beneficiary | Multifamily            
Real Estate [Line Items]            
Number of joint ventures impaired during period | jointVenture           2
Number of joint ventures, classified as held for sale during period | jointVenture           2
Number of real estate properties sold | property   1        
Proceeds from sale of real estate held for investment   $ 43,500,000        
Net payments made on mortgages payable on real estate   24,100,000        
Gains on sale of real estate   6,600,000        
Loss on extinguishment of collateralized debt obligations and mortgages payable on real estate   100,000        
Net income (loss)   5,000,000.0        
Net income   (1,500,000)        
Impairment of real estate   $ 4,600,000     $ 0 $ 18,400,000
(Loss) gain on sale of real estate       $ (14,600,000)