v3.25.4

Equity Investments - Narrative (Details) $ in Thousands | Dec. 18, 2025 employee | Dec. 31, 2025 USD ($) | Mar. 31, 2025 USD ($) | Dec. 31, 2024 USD ($)
--- | --- | --- | --- | ---
Schedule of Equity Method Investments [Line Items] |  |  |  |
Number of employees elected to board of directors | employee | 2 |  |  |
Equity method investments |  | $ 79,168 |  | $ 538
Other investments |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |
Investments |  | $ 0 |  | $ 8,000
Commercial Real Estate JV |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |
Real estate investment, joint venture |  |  | $ 35,000 |
Commercial Real Estate JV | Rithm |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |
Real estate investment, joint venture |  |  | 17,500 |
Commercial Real Estate JV | Rithm Property Trust Inc |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |
Real estate investment, joint venture |  |  | $ 17,500 |
Gaea Real Estate Corp. |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |
Ownership percentage (as a percent) |  | 22.20% |  | 22.20%
Investments |  | $ 11,600 |  | $ 21,900
Thetis Asset Management LLC |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |
Ownership percentage (as a percent) |  | 19.80% |  | 19.80%
Vehicle JV With Rithm Capital |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |
Ownership percentage (as a percent) |  |  | 50.00% |
Equity method investments |  | $ 17,600 |  |
PGRE Aggregator |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |
Ownership percentage (as a percent) |  | 390.00% |  |
Real estate investment, joint venture |  | $ 50,000 |  |

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