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Consolidated Balance Sheets

In millions of USD, except per-share amounts
Q2 FY2026
As of Jun 30, 2026
Q1 FY2026
As of Mar 31, 2026
Q4 FY2025
As of Dec 31, 2025
Q3 FY2025
As of Sep 30, 2025
Q2 FY2025
As of Jun 30, 2025
Q1 FY2025
As of Mar 31, 2025
Q4 FY2024
As of Dec 31, 2024
Q3 FY2024
As of Sep 30, 2024
Q2 FY2024
As of Jun 30, 2024
Q1 FY2024
As of Mar 31, 2024
Q4 FY2023
As of Dec 31, 2023
Q3 FY2023
As of Sep 30, 2023
Q2 FY2023
As of Jun 30, 2023
Q1 FY2023
As of Mar 31, 2023
Q4 FY2022
As of Dec 31, 2022
Q3 FY2022
As of Sep 30, 2022
Q2 FY2022
As of Jun 30, 2022
Q1 FY2022
As of Mar 31, 2022
Q4 FY2021
As of Dec 31, 2021
Q3 FY2021
As of Sep 30, 2021
Assets
Cash and cash equivalents
Restricted cash
Loans receivable, held-for-investment, net of credit loss allowances of $69,864 and $77,270
Mortgage-backed securities held-to-maturity, net of credit loss allowances of $0 and $59
Mortgage-backed securities, at fair value, credit loss allowances of $23,813 and $23,895
Reimbursement due from sponsor
Investments in real estate, held-for-investment
Investments in real estate, held-for-sale
Receivable for investments sold and repaid
Interest receivable
Other assets
Mortgage loans held in securitization trusts, at fair value
Total assets
Liabilities
Collateralized loan obligations, net
Repurchase agreements payable, net
Credit facilities payable, net
Mortgage note payable, net
Due to related party
Interest payable
Payable for shares repurchased
Other liabilities
Mortgage obligations issued by securitization trusts, at fair value
Total liabilities
Stockholders' equity
Preferred stock, $0.01 par value, 100,000,000 shares authorized, 125 and 125 issued and outstanding, respectively
Common stock
Common Stock Class F
Common Stock Class Y
Common Stock Class T
Common Stock Class S
Common Stock Class D
Common Stock Class M
Common Stock Class I
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (accumulated deficit)
Total stockholders' equity
Total liabilities and stockholders' equity

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