| Schedule of Financial Information of The Unconsolidated Joint Venture |
The following tables provide summarized financial information of the Unconsolidated Joint Venture for the periods set forth below (in thousands): | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | Assets: | | | | | Real estate investments - at fair value | | $ | 73,900 | | | $ | 40,796 | | Loans held-for-investment - at fair value, net of deferred fees | | $ | 1,026,815 | | | $ | 1,093,202 | | Total assets | | $ | 1,117,106 | | | $ | 1,186,794 | | | | | | | Liabilities and equity: | | | | | Repurchase facilities and securitized debt, net of deferred fees | | $ | 757,380 | | | $ | 777,239 | | Total liabilities | | $ | 761,069 | | | $ | 798,626 | | Total equity | | $ | 356,037 | | | $ | 388,168 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | Total revenues | | $ | 25,643 | | | $ | 22,167 | | | $ | 48,384 | | | $ | 45,213 | | Total expenses | | 17,591 | | | 15,095 | | | 33,193 | | | 30,903 | | Total other expense | | (1,935) | | | (1,204) | | | (6,817) | | | (2,886) | | Net income | | $ | 6,117 | | | $ | 5,868 | | | $ | 8,374 | | | $ | 11,424 | |
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