XML 71 R55.htm IDEA: XBRL DOCUMENT v3.26.1
Real Estate Portfolio - Schedule of Investment in Loans (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Dec. 31, 2024
Loans and Leases Receivable Disclosure        
Principal Balance $ 3,030,418 $ 2,580,087    
Weighted Average Interest Rate 9.40% 9.10%    
Weighted Average Term 3 years 10 months 24 days 3 years 4 months 24 days    
Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 2,917,311 [1] $ 2,525,457 [1] $ 2,369,049 $ 1,651,533
Future Funding Commitments 1,181,068 623,495    
Senior Secured Notes        
Loans and Leases Receivable Disclosure        
Principal Balance $ 81,813 $ 83,406    
Weighted Average Interest Rate 11.00% 11.00%    
Weighted Average Term 4 years 9 months 18 days 5 years 2 months 12 days    
Senior Secured Notes | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 79,806 $ 81,033    
Future Funding Commitments 0 0    
Senior Secured Loans        
Loans and Leases Receivable Disclosure        
Principal Balance $ 1,226,869 $ 1,084,478    
Weighted Average Interest Rate 8.30% 8.30%    
Weighted Average Term 4 years 2 months 12 days 4 years 4 months 24 days    
Senior Secured Loans | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 1,163,675 $ 1,047,585    
Future Funding Commitments 284,795 399,942    
Mezzanine Loans and Preferred Equity        
Loans and Leases Receivable Disclosure        
Principal Balance $ 1,721,736 $ 1,412,203    
Weighted Average Interest Rate 10.10% 9.60%    
Weighted Average Term 3 years 7 months 6 days 2 years 6 months    
Mezzanine Loans and Preferred Equity | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 1,673,830 $ 1,396,839    
Future Funding Commitments $ 896,273 $ 223,553    
[1] As of June 30, 2026 and December 31, 2025, our Investments in leases - sales-type, Investments in leases - financing receivables, Investments in loans and securities, and Other assets (sales-type sub-leases) are net of allowance for credit losses of $1,014.8 million, $769.0 million, $92.1 million and $27.0 million, respectively, and $919.2 million, $769.9 million, $56.4 million and $23.9 million, respectively. Refer to Note 5 - Allowance for Credit Losses for further details.