Loans at Fair Value |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LOANS, AT FAIR VALUE | 5. LOANS, AT FAIR VALUE
As of December 31, 2024, the Company's portfolio included one loan held at fair value. The aggregate commitment under this loan was approximately $11.5 million and outstanding principal was $5.5 million as of December 31, 2024. As of December 31, 2024, there is $6.0 million of unfunded commitments related to the loan held at fair value. There were no loans held at fair value as of December 31, 2025.
The loan held at fair value as of December 31, 2024 was originated to a related party (Note 9), and is included within Loans, at fair value - related party on the consolidated balance sheets. The Company elected the fair value option for this asset due to other indebtedness of the borrower that is senior to our loan, uncertainty with respect to management's intent to hold to maturity or payoff given the related party nature of the investment.
The following table summarizes the Company's loan held at fair value as of December 31, 2024. There were no loans held at fair value as of December 31, 2025.
As of December 31, 2024, the loan held at fair value was current on all interest and principal payments due. |
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