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Loans Receivable (Tables)
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Summary of Real Estate Loans Receivable
The following is a summary of our loans receivable as of the dates indicated (in thousands):
 March 31, 2026December 31, 2025
Mortgage loans$1,639,243 $1,021,355 
Other real estate loans948,031 827,742 
Allowance for credit losses on real estate loans receivable(19,710)(17,887)
Real estate loans receivable, net of credit allowance2,567,564 1,831,210 
Non-real estate loans291,143 258,205 
Allowance for credit losses on non-real estate loans receivable(6,937)(7,150)
Non-real estate loans receivable, net of credit allowance284,206 251,055 
Total loans receivable, net of credit allowance$2,851,770 $2,082,265 
Summary of Real Estate Loan Activity
The following is a summary of our loan activity for the periods presented (in thousands):    
 Three Months Ended
 March 31, 2026March 31, 2025
Advances on loans receivable$1,382,728 $19,672 
Less: Receipts on loans receivable737,926 100,372 
Net cash advances (receipts) on loans receivable$644,802 $(80,700)
Summary of Financing Receivable, Allowance for Credit Loss The following is a summary of our loans by credit loss category (in thousands):
March 31, 2026
Loan categoryYears of OriginationLoan Carrying ValueAllowance for Credit LossNet Loan BalanceNo. of Loans
Deteriorated loans(1)
2007 - 2019$130,184 $(8,039)$122,145 5 
Collective loan pool2010 - 2021102,317 (693)101,624 17 
Collective loan pool202295,471 (646)94,825 13 
Collective loan pool202359,239 (401)58,838 5 
Collective loan pool202458,615 (397)58,218 7 
Collective loan pool20251,067,225 (7,228)1,059,997 13 
Collective loan pool20261,365,366 (9,243)1,356,123 9 
Total loans$2,878,417 $(26,647)$2,851,770 69 
(1) Interest recognized on loans classified as deteriorated loans as of the end of the respective reporting period was $3,733,000 for the three months ended March 31, 2026.
The following is a summary of the activity within the allowance for credit losses on loans receivable for the periods presented (in thousands):
Three Months Ended
March 31, 2026March 31, 2025
Balance at beginning of period$25,037 $33,797 
Provision for loan losses, net1,632 (2,007)
Effect of foreign currency(22)311 
Balance at end of period$26,647 $32,101