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Loans and Preferred Equity Held for Investment, net - Changes in Allowance for Loan Losses (Details)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
USD ($)
loan
Jun. 30, 2025
USD ($)
loan
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
loan
Sep. 30, 2024
USD ($)
forwardSwap
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Sep. 30, 2025
USD ($)
loan
Sep. 30, 2024
USD ($)
forwardSwap
Dec. 31, 2024
USD ($)
loan
Allowance for Loan and Lease Losses [Roll Forward]                    
Reserve, beginning balance $ 136,567 $ 155,365 $ 165,932 $ 155,490 $ 171,330 $ 150,214 $ 76,028 $ 165,932 $ 76,028 $ 76,028
Increase (Decrease) in general CECL reserve (9,662) (18,798) (9,524)   (7,768) 28,244 67,058      
Increase in specific CECL reserve               8,562 115,313  
Charge-off of CECL reserve   (18,192) (9,174)   (17,175) (18,919)   (27,366) (36,094)  
Charge-offs of CECL reserve-transfer to Real Estate, net and Real Estate Held for Sale (17,891) (1,290) (1,043)              
Reserve, ending balance $ 126,905 $ 136,567 155,365 $ 165,932 155,490 171,330 150,214 $ 126,905 155,490 $ 165,932
Denver, Colorado                    
Allowance for Loan and Lease Losses [Roll Forward]                    
Increase in specific CECL reserve                 (1,000)  
Number of loans on nonaccrual status | loan 1 1   1       1   1
PD/LGD model                    
Allowance for Loan and Lease Losses [Roll Forward]                    
CECL reserves related to unfunded commitments $ 0 $ (100) 500   (300) (100) 200 $ 400 (300)  
Loans held for investment                    
Allowance for Loan and Lease Losses [Roll Forward]                    
Increase in specific CECL reserve $ 17,891 19,482 $ 9,174   $ 9,103 $ 11,791 $ 7,128      
Number of loans on nonaccrual status | loan 1             1    
Loans held for investment | Denver, Colorado                    
Allowance for Loan and Lease Losses [Roll Forward]                    
Increase in specific CECL reserve               $ 46,500 $ (29,000)  
Multifamily                    
Allowance for Loan and Lease Losses [Roll Forward]                    
Increase in specific CECL reserve   $ 18,200                
Number of loans on nonaccrual status 1       2     1 2  
Multifamily | Denver, Colorado                    
Allowance for Loan and Lease Losses [Roll Forward]                    
Number of loans on nonaccrual status | loan 2             2    
Office loans                    
Allowance for Loan and Lease Losses [Roll Forward]                    
Number of loans on nonaccrual status 1     2 1     1 1 2
Development Mezzanine Loan                    
Allowance for Loan and Lease Losses [Roll Forward]                    
Number of loans on nonaccrual status       1 1       1 1