XML 68 R56.htm IDEA: XBRL DOCUMENT v3.22.2
Repurchase Agreements, Loan Participations Sold, Net, Notes Payable, Net, Secured Term Loan, Net, Debt Related to Real Estate Owned, Net, and Acquisition Facility - Additional Information (Details) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 29, 2022
Dec. 02, 2021
Jun. 02, 2021
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Feb. 08, 2021
Dec. 01, 2020
Aug. 09, 2019
Repurchase Agreement Counterparty [Line Items]                      
Secured term loan                   $ 325,000 $ 450,000
One-month SOFR   4.50%                  
Interest expense       $ 49,590 $ 55,356 $ 91,754 $ 103,118        
General and administrative expenses       4,748 $ 2,874 9,091 $ 4,063        
Line of credit, maximum borrowing capacity       141,100   $ 141,100          
Secured Overnight Financing Rate (SOFR)                      
Repurchase Agreement Counterparty [Line Items]                      
Debt instrument basis spread on variable rate           1.69%          
Secured Term Loan                      
Repurchase Agreement Counterparty [Line Items]                      
Principal payments           $ 1,900          
Contractual Maturity Date           Aug. 09, 2026   Aug. 09, 2026      
Secured Term Loan | Secured Overnight Financing Rate (SOFR)                      
Repurchase Agreement Counterparty [Line Items]                      
Debt instrument basis spread on variable rate           1.69%   0.05%      
Secured Term Loan | Secured Overnight Financing Rate (SOFR) | Minimum                      
Repurchase Agreement Counterparty [Line Items]                      
One-month SOFR   0.10%                  
Secured Term Loan | Secured Overnight Financing Rate (SOFR) | Maximum                      
Repurchase Agreement Counterparty [Line Items]                      
One-month SOFR   0.50%                  
Acquisition Facility                      
Repurchase Agreement Counterparty [Line Items]                      
Contractual Maturity Date Jun. 29, 2025                    
Line of credit, maximum borrowing capacity $ 150,000                    
Line of credit facility increase $ 500,000                    
Credit spread adjustment rate 2.25                    
Credit facility initial advance rate 75.00%                    
Credit facility outstanding balance       0   $ 0          
Acquisition Facility | Secured Overnight Financing Rate (SOFR)                      
Repurchase Agreement Counterparty [Line Items]                      
Debt instrument, variable interest rate basis 1-month                    
Debt instrument basis spread on variable rate 0.10%                    
Repurchase Agreements                      
Repurchase Agreement Counterparty [Line Items]                      
Debt instrument repurchase guaranteed amount       $ 1,100,000   $ 1,100,000   $ 944,000      
Real Estate Investment                      
Repurchase Agreement Counterparty [Line Items]                      
Principal payments     $ 10,000                
Senior mortgage amount                 $ 300,000    
Contractual Maturity Date     Feb. 09, 2024                
Debt instrument, Fee amount     $ 7,600                
Interest expense     6,300                
General and administrative expenses     1,100                
Debt issuance costs     $ 200