v3.25.2
Related Party Transactions (Tables)
6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Key Terms of the Loans The following table presents the key terms of the loans as of the reporting date (in millions):
Related PartyEquity Ownership InterestInterest RateMaturity DateFair Value at
PrincipalJune 30, 2025December 31, 2024
20252024
$36.5 $36.5 MRA Hub 34 Holding, LLC95.00%
2.50% + SOFR
8/26/2025$36.5 $36.5 
0.5 0.5 MRA 34 LLC—%
3.75% + SOFR
8/26/20250.5 0.5 
4.7 4.6 MR MCC 3 Sponsor, LLC—%6.00%12/1/20254.7 4.6 
— 27.7 
THP Student Housing, LLC(1)
97.00%6.10%6/30/2026— 27.7 
28.5 28.5 TREA SV 355 West 52nd Street95.00%5.20%6/14/202728.5 28.5 
TOTAL LOANS RECEIVABLE WITH RELATED PARTIES$70.2 $97.8 
(1) Loan was paid off by the borrower in the first quarter of 2025.