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Mortgage Notes Receivable - Schedule of carrying value of loans in contractual default status by collateral type and the LTV (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
USD ($)
Loan
Dec. 31, 2022
USD ($)
Loan
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 18 11
Carrying Value $ 820,801 [1] $ 923,442 [2]
Percentage of Total 100.00% [1] 100.00% [2]
Residential Lots    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 58,522 $ 191,708
Percentage of Total 7.10% 12.20%
Single Family Housing    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 134,879 $ 76,251
Percentage of Total 16.50% 9.60%
Entitled Land    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 89,654 $ 17,262
Percentage of Total 10.90% 4.90%
Mixed Use    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 46,973 $ 104,100
Percentage of Total 5.70% 9.50%
Apartments    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 195,140 $ 133,702
Percentage of Total 23.80% 11.80%
Duplex    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 15,097 $ 560
Percentage of Total 1.80% 0.70%
Quadplex    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 10,179 $ 9,071
Percentage of Total 1.20% 1.10%
Townhomes    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 97,291 $ 106,888
Percentage of Total 11.90% 10.20%
Condos    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 36,974 $ 71,975
Percentage of Total 4.50% 7.10%
Retail    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 9,546 $ 4,018
Percentage of Total 1.20% 0.90%
Commercial Lots    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 2,698 $ 11,411
Percentage of Total 0.30% 1.10%
Senior Housing    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 17,135 $ 50,127
Percentage of Total 2.10% 6.70%
Commercial other    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 11,547 $ 8,932
Percentage of Total 1.40% 1.00%
Triplex    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 717  
Percentage of Total 0.10%  
0 - 40%    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 20,944 [1] $ 26,053 [2]
Percentage of Total 2.60% [1] 5.90% [2]
LTV [Member]    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 41 40
Carrying Value $ 166,560 [3] $ 250,388 [4]
Percentage of Total 100.00% [3] 100.00% [4]
LTV [Member] | Residential Lots    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 6 8
Carrying Value $ 28,855 $ 71,306
Percentage of Total 17.30% 28.50%
LTV [Member] | Single Family Housing    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 14 11
Carrying Value $ 24,509 $ 20,335
Percentage of Total 14.70% 8.10%
LTV [Member] | Entitled Land    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 2 2
Carrying Value $ 24,426 $ 22,447
Percentage of Total 14.70% 9.00%
LTV [Member] | Hotel    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 1 2
Carrying Value $ 15,770 $ 28,919
Percentage of Total 9.50% 11.50%
LTV [Member] | Mixed Use    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 3 4
Carrying Value $ 13,095 $ 14,795
Percentage of Total 7.90% 5.90%
LTV [Member] | Apartments    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 5 2
Carrying Value $ 12,624 $ 6,947
Percentage of Total 7.60% 2.80%
LTV [Member] | Duplex    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 1  
Carrying Value $ 10,218  
Percentage of Total 6.10%  
LTV [Member] | Quadplex    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 1  
Carrying Value $ 10,179  
Percentage of Total 6.10%  
LTV [Member] | Offices    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 1 1
Carrying Value $ 6,328 $ 6,288
Percentage of Total 3.80% 2.50%
LTV [Member] | Townhomes    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 3 5
Carrying Value $ 6,227 $ 21,175
Percentage of Total 3.70% 8.50%
LTV [Member] | Condos    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 2 3
Carrying Value $ 6,126 $ 42,237
Percentage of Total 3.70% 16.90%
LTV [Member] | Retail    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 1 1
Carrying Value $ 5,505 $ 5,443
Percentage of Total 3.30% 2.20%
LTV [Member] | Commercial Lots    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan 1  
Carrying Value $ 2,698  
Percentage of Total 1.60%  
LTV [Member] | Unentitled Land    
Loans and Leases Receivable Disclosure [Line Items]    
Number of Loans | Loan   1
Carrying Value   $ 10,496
Percentage of Total   4.20%
LTV [Member] | 0 - 40%    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 2,690 [3] $ 3,969 [4]
Percentage of Total 1.60% [3] 1.60% [4]
LTV [Member] | 41 - 60%    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 57,304 [3] $ 91,201 [4]
Percentage of Total 34.40% [3] 36.40% [4]
LTV [Member] | 61 - 80%    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 90,779 [3] $ 139,537 [4]
Percentage of Total 54.50% [3] 55.70% [4]
LTV [Member] | Above 80%    
Loans and Leases Receivable Disclosure [Line Items]    
Carrying Value $ 15,787 [3] $ 15,681 [4]
Percentage of Total 9.50% [3] 6.30% [4]
[1] 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.
[2] 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.
[3] Represents current LTV as of origination or latest amendment. At March 31, 2023, the weighted average LTV for loans in contractual default using the latest appraisal was 137.7%. The weighted average LTV of our loans in contractual default net of our allowance for credit losses was approximately 80.2%.
[4] Represents current LTV as of origination or latest amendment. At December 31, 2022, the weighted average LTV for loans in contractual default using the latest appraisal was 124.8%. The weighted average LTV of our loans in contractual default net of our allowance for credit losses was approximately 84.9%.