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Mortgage Notes Receivable - Composition of loan portfolio (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 940,078 $ 911,744    
CECL Allowance (8,647) [1] (10,394) [2] $ (10,663) $ (10,590)
Carrying value, net $ 931,431 $ 901,350    
Percentage of portfolio 100.00% 100.00%    
2022 $ 194,972 [3] $ 597,269 [4]    
2021 517,978 [3] 239,739 [4]    
2020 164,528 [3] 3,102 [4]    
2019 3,265 [3] 6,099 [4]    
2018 5,000 [3] 65,274 [4]    
Prior $ 54,335 [3] $ 261 [4]    
LTV general percent indicating default status 65 65    
Allowances on excess amortized cost over fair value   $ 700    
0 - 40%        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 53,404 [5] $ 53,907    
Percentage of portfolio 5.70% [5] 5.90%    
2022 $ 5,003 [5],[6] $ 32,634 [7]    
2021 [5],[6] 26,818      
2019 [7]   3,608    
2018 3,753 [5],[6] 17,665 [7]    
Prior 17,830 [5],[6] 0 [7]    
41 - 45%        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 45,239 [5] $ 48,431 [8]    
Percentage of portfolio 4.80% [5] 5.30% [8]    
2022 $ 11,667 [5],[6] $ 44,380 [7],[8]    
2021 29,554 [5],[6] 4,051 [7],[8]    
2020 [5],[6] 4,018      
46 - 50%        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 62,403 [5] $ 63,690 [8]    
Percentage of portfolio 6.60% [5] 7.00% [8]    
2022 $ 7,714 [5],[6] $ 41,356 [7],[8]    
2021 32,592 [5],[6] 21,317 [7],[8]    
2020 [5],[6] 22,097      
2019 [7],[8]   1,017    
Prior [7],[8]   0    
51 - 55%        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 122,558 [5] $ 92,238 [8]    
Percentage of portfolio 13.00% [5] 10.10% [8]    
2022 $ 40,419 [5],[6] $ 74,978 [7],[8]    
2021 73,192 [5],[6] 17,260 [7],[8]    
2020 [5],[6] 8,684      
Prior [5],[6] 263      
56 - 60%        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 63,159 [5] $ 79,039 [8]    
Percentage of portfolio 6.70% [5] 8.70% [8]    
2022 $ 42,455 [5],[6] $ 27,115 [7],[8]    
2021 15,164 [5],[6] 40,190 [7],[8]    
2020 [5],[6] 5,540      
2018 [7],[8]   11,473    
Prior [7],[8]   261    
61 - 65%        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 572,393 [5] $ 559,997 [8]    
Percentage of portfolio 61.00% [5] 61.40% [8]    
2022 $ 79,008 [5],[6] $ 372,645 [7],[8]    
2021 338,828 [5],[6] 146,640 [7],[8]    
2020 113,803 [5],[6] 3,102 [7],[8]    
2019 3,265 [5],[6] 1,474 [7],[8]    
2018 1,247 [5],[6] 36,136 [7],[8]    
Prior [5],[6] 36,242      
66 - 70%        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 9,605 [5] $ 645 [8]    
Percentage of portfolio 1.00% [5] 0.10% [8]    
2022 $ 8,706 [5],[6] $ 645 [7],[8]    
2021 [5],[6] $ 899      
71-80%        
Loans and Leases Receivable Disclosure [Line Items]        
Percentage of portfolio 0.00% 0.00% [8]    
Above 80%        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 11,317 [5] $ 13,797 [8]    
CECL Allowance $ (8,647) [9] $ (10,394) [10]    
Percentage of portfolio 1.20% [5] 1.50% [8]    
2022 [7],[8]   $ 3,516    
2021 $ 931 [5],[6] 10,281 [7],[8]    
2020 [5],[6] 10,386      
Apartments        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 115,043 $ 107,765    
Percentage of portfolio 12.20% 11.80%    
2022 $ 56,684 [11] $ 38,232    
2021 27,062 [11] 68,356 [12]    
2020 [11] 29,963      
2019 1,334 [11] 1,177 [12]    
2018 [11] 0      
Prior [11] 0      
Residential Lots        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 110,316 $ 111,644    
Percentage of portfolio 11.80% 12.20%    
2022 $ 12,428 [11] $ 85,219    
2021 71,309 [11] 26,425 [12]    
2020 [11] 26,579      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Single family housing        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 103,128 $ 87,902    
Percentage of portfolio 11.10% 9.60%    
2022 $ 50,542 [11] $ 84,703    
2021 50,117 [11] 3,049 [12]    
2020 [11] 2,319      
2019 [11] 0      
2018 0 [11] 150 [12]    
Prior [11] 150      
Townhomes        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 84,810 $ 93,300    
Percentage of portfolio 9.00% 10.20%    
2022 $ 27,769 [11] $ 51,240    
2021 43,757 [11] 28,979 [12]    
2020 [11] 12,691      
2019 0 [11] 1,017 [12]    
2018 0 [11] 11,803 [12]    
Prior 593 [11] 261 [12]    
Commercial        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 73,113 $ 61,592    
Percentage of portfolio 7.80% 6.80%    
2022 $ 5,950 [11] $ 61,592    
2021 [11] 67,163      
2020 [11] 0      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Mixed Use        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 72,265 $ 85,929    
Percentage of portfolio 7.70% 9.50%    
2022 $ 1,104 [11] $ 53,530    
2021 58,454 [11] 30,474 [12]    
2020 10,776 [11] 1,925 [12]    
2019 [11] 1,931      
2018 [11] 0      
Prior 0 [11] 0 [12]    
Condos        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 68,059 $ 64,492    
Percentage of portfolio 7.20% 7.10%    
2022 $ 4,201 [11] $ 8,805    
2021 6,330 [11] 18,227 [12]    
2020 [11] 20,189      
2019 0 [11] 1,474 [12]    
2018 1,247 [11] 35,986 [12]    
Prior 36,092 [11] 0 [12]    
Senior Housing        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 64,119 $ 61,236    
Percentage of portfolio 6.80% 6.70%    
2022 $ 0 [11] $ 35,899    
2021 38,255 [11] 25,337 [12]    
2020 [11] 25,864      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Storage        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 56,601 $ 56,481    
Percentage of portfolio 6.00% 6.20%    
2022 $ 0 [11] $ 56,481    
2021 [11] 56,601      
2020 [11] 0      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Unentitled Land        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 48,113 $ 46,019    
Percentage of portfolio 5.10% 5.00%    
2022 $ 15,863 [11] $ 42,411    
2021 [11] 28,497      
2020 [11] 0      
2019 [11] 0      
2018 3,753 [11] 3,608 [12]    
Prior [11] 0      
Entitled Land        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 47,117 $ 45,098    
Percentage of portfolio 5.00% 4.90%    
2022 $ 960 [11] $ 27,763    
2021 [11] 28,657      
2020 [11] 0      
2019 [11] 0      
2018 0 [11] 17,335 [12]    
Prior [11] 17,500      
Hotel        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 32,159 $ 31,665    
Percentage of portfolio 3.40% 3.50%    
2022 $ 1,241 [11] $ 4,886    
2021 3,675 [11] 26,779 [12]    
2020 [11] 27,243      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Offices        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 17,163 $ 15,348    
Percentage of portfolio 1.80% 1.70%    
2022 $ 0 [11] $ 8,280    
2021 9,747 [11] 7,068 [12]    
2020 [11] 7,416      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Quadplex        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 11,427 $ 9,769    
Percentage of portfolio 1.20% 1.10%    
2022 $ 6,407 [11] $ 9,769    
2021 [11] 5,020      
2020 [11] 0      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Commercial Lots        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 10,353 $ 10,227    
Percentage of portfolio 1.10% 1.10%    
2022 $ 3,664 [11] $ 6,670    
2021 [11] 6,689      
2020 0 [11] 3,557 [12]    
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Commercial other        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 9,723 $ 9,080    
Percentage of portfolio 1.00% 1.00%    
2022 $ 0 [11] $ 9,080    
2021 9,723 [11] 0 [12]    
2020 [11] 0      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Retail        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 8,410 $ 7,873    
Percentage of portfolio 0.90% 0.90%    
2022 $ 0 [11] $ 6,385    
2021 [11] 6,922      
2020 1,488 [11] 1,488 [12]    
2019 0 [11] 0 [12]    
2018 [11] 0      
Prior [11] 0      
Duplex        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 7,381 $ 6,324    
Percentage of portfolio 0.80% 0.70%    
2022 $ 7,381 [11] $ 6,324    
2021 [11] 0      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Triplex        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 778      
Percentage of portfolio 0.10%      
2022 [11] $ 778      
2021 [11] 0      
2020 [11] 0      
2019 [11] 0      
2018 [11] 0      
Prior [11] 0      
Vertical Construction        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 495,037 $ 478,475    
Percentage of portfolio 52.70% 52.50%    
2022 $ 121,566 [3] $ 234,861 [4]    
2021 207,032 [3] 191,896 [4]    
2020 127,173 [3] 1,177 [4]    
2019 1,334 [3] 2,491 [4]    
2018 1,247 [3] 47,789 [4]    
Prior 36,685 [3] 261 [4]    
Horizontal Development        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 202,100 $ 196,543    
Percentage of portfolio 21.50% 21.50%    
2022 $ 48,370 [3] $ 169,041 [4]    
2021 129,316 [3] 27,502 [4]    
2020 24,414 [3] 0 [4]    
2019 0 [3] 0 [4]    
2018 0 [3] 0 [4]    
Prior [4]   0    
Acquisition        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 98,990 $ 96,937    
Percentage of portfolio 10.50% 10.60%    
2022 $ 3,318 [3] $ 96,937 [4]    
2021 95,672 [3] 0 [4]    
2020 0 [3] 0 [4]    
2019 0 [3] 0 [4]    
2018 0 [3] 0 [4]    
Prior 0 [3] 0 [4]    
Investment        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 65,962 $ 65,703    
Percentage of portfolio 7.00% 7.20%    
2022 $ 8,088 [3] $ 42,509 [4]    
2021 34,306 [3] 2,101 [4]    
2020 2,165 [3] 0 [4]    
2019 0 [3] 3,608 [4]    
2018 3,753 [3] 17,485 [4]    
Prior 17,650 [3] 0 [4]    
Rehabilitation        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 31,968 $ 27,023    
Percentage of portfolio 3.40% 3.00%    
2022 $ 12,281 [3] $ 11,320 [4]    
2021 8,911 [3] 15,703 [4]    
2020 10,776 [3] 0 [4]    
2019 0 [3] 0 [4]    
2018 0 [3] 0 [4]    
Prior 0 [3] 0 [4]    
Land Entitlement        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 25,350 $ 24,529    
Percentage of portfolio 2.70% 2.70%    
2022 $ 1,349 [3] $ 24,529 [4]    
2021 24,001 [3] 0 [4]    
2020 0 [3] 0 [4]    
2019 0 [3] 0 [4]    
2018 0 [3] 0 [4]    
Prior 0 [3] 0 [4]    
Bridge        
Loans and Leases Receivable Disclosure [Line Items]        
Carrying Value $ 20,671 $ 22,534    
Percentage of portfolio 2.20% 2.50%    
2022 $ 0 [3] $ 18,072 [4]    
2021 18,740 [3] 2,537 [4]    
2020 0 [3] 1,925 [4]    
2019 1,931 [3] 0 [4]    
2018 0 [3] 0 [4]    
Prior 0 [3] 0 [4]    
Unfunded Loan Commitment [Member]        
Loans and Leases Receivable Disclosure [Line Items]        
CECL Allowance [13] (1,097) $ (904) $ (947) $ 0
Unfunded Loan Commitment [Member] | Accounts payable and accrued liabilities        
Loans and Leases Receivable Disclosure [Line Items]        
CECL Allowance (1,100)      
Allowances on excess amortized cost over fair value $ 900      
[1] Includes $0.9 million in loan specific allowances for loans deemed collateral dependent based on the excess amortized cost over the fair value of the underlying collateral. In addition, $1.1 million of the CECL allowance is excluded from this table because it relates to unfunded commitments and has been recorded as a liability under accounts payable and accrued liabilities in our condensed consolidated balance sheet.
[2] Includes $0.7 million in loan specific allowances for loans deemed collateral dependent based on the excess amortized cost over the fair value of the underlying collateral.
[3] Represents the year of either origination or amendment where the loan incurred a full re-underwriting in connection with the amendment.
[4] Represents the year of either origination or amendment where the loan incurred a full re-underwriting in connection with the amendment.
[5] Represents LTV as of origination or latest amendment. LTVs above 65% generally represent loans in contractual default status where we have agreed to extend funds to the borrower above 65% in order to facilitate successful completion of the construction and return of capital.
[6] Represents the year of either origination or amendment where the loan incurred a full re-underwriting in connection with the amendment.
[7] Represents the year of either origination or amendment where the loan incurred a full re-underwriting in connection with the amendment.
[8] Represents LTV as of origination or latest amendment. LTVs above 65% generally represent loans in contractual default status where we have agreed to extend funds to the borrower above 65% in order to ensure successful completion of the construction and return of capital.
[9] Includes $0.9 million in loan specific allowances for loans deemed collateral dependent based on the excess amortized cost over the fair value of the underlying collateral. In addition, $1.1 million of the CECL allowance is excluded from this table because it relates to unfunded commitments and has been recorded as a liability under accounts payable and accrued liabilities in our condensed consolidated balance sheet.
[10] Includes $0.7 million in loan specific allowances for loans deemed collateral dependent based on the excess amortized cost over the fair value of the underlying collateral.
[11] Represents the year of either origination or amendment where the loan incurred a full re-underwriting in connection with the amendment.
[12] Represents the year of either origination or amendment where the loan incurred a full re-underwriting in connection with the amendment.
[13] CECL allowance related to unfunded commitments is presented as a liability under accounts payable and accrued liabilities in our condensed consolidated balance sheet.