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Loans - Risk Ratings by Class of Loan (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Investments in loans    
Total Amortized Cost Basis $ 19,396,682 $ 18,401,316
Credit Loss Allowance 428,067 448,295
Loans held-for-sale    
Investments in loans    
Total Amortized Cost Basis 2,446,636 $ 2,516,008
Credit Loss Allowance 0  
Commercial loans:    
Investments in loans    
2025 888,082  
2024 911,797  
2023 947,622  
2022 3,486,616  
2021 5,626,376  
Prior 2,368,229  
Revolving Loans Amortized Cost Total 0  
Total Amortized Cost Basis 14,228,722  
Credit Loss Allowance 415,675  
Commercial loans: | LTV less than 60%    
Investments in loans    
2025 481,260  
2024 298,146  
2023 418,786  
2022 2,010,833  
2021 1,929,993  
Prior 648,161  
Revolving Loans Amortized Cost Total 0  
Total Amortized Cost Basis 5,787,179  
Credit Loss Allowance 15,329  
Commercial loans: | LTV 60% - 70%    
Investments in loans    
2025 294,009  
2024 259,716  
2023 458,912  
2022 1,170,652  
2021 2,565,067  
Prior 384,394  
Revolving Loans Amortized Cost Total 0  
Total Amortized Cost Basis 5,132,750  
Credit Loss Allowance 105,844  
Commercial loans: | LTV > 70%    
Investments in loans    
2025 112,813  
2024 353,935  
2023 65,374  
2022 263,263  
2021 1,131,316  
Prior 1,330,749  
Revolving Loans Amortized Cost Total 0  
Total Amortized Cost Basis 3,257,450  
Credit Loss Allowance 289,577  
Commercial loans: | Credit deteriorated    
Investments in loans    
2025 0  
2024 0  
2023 0  
2022 0  
2021 0  
Prior 4,925  
Revolving Loans Amortized Cost Total 0  
Total Amortized Cost Basis 4,925  
Credit Loss Allowance 4,925  
Commercial loans: | Defeased and other    
Investments in loans    
2025 0  
2024 0  
2023 4,550  
2022 41,868  
2021 0  
Prior 0  
Revolving Loans Amortized Cost Total 0  
Total Amortized Cost Basis 46,418  
Credit Loss Allowance 0  
Infrastructure loans:    
Investments in loans    
2025 529,581  
2024 942,716  
2023 705,234  
2022 57,586  
2021 120,398  
Prior 364,708  
Revolving Loans Amortized Cost Total 1,101  
Total Amortized Cost Basis 2,721,324  
Credit Loss Allowance 12,392  
Infrastructure loans: | Power    
Investments in loans    
2025 263,660  
2024 609,908  
2023 292,682  
2022 0  
2021 28,651  
Prior 276,553  
Revolving Loans Amortized Cost Total 1,101  
Total Amortized Cost Basis 1,472,555  
Credit Loss Allowance 5,094  
Infrastructure loans: | Oil and gas    
Investments in loans    
2025 265,921  
2024 332,808  
2023 412,552  
2022 57,586  
2021 91,747  
Prior 88,155  
Revolving Loans Amortized Cost Total 0  
Total Amortized Cost Basis 1,248,769  
Credit Loss Allowance $ 7,298