| Summary of Investment in Residential Bridge Loans |
The following table details the Company’s investment in residential bridge loans as of December 31, 2025 ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of Loans |
|
Loan Amount(1) |
|
|
Outstanding Principal |
|
|
Fair Value |
|
|
Interest Rate |
|
|
Maximum Maturity Date(2) |
64 |
|
$ |
44,692 |
|
|
$ |
27,735 |
|
|
$ |
27,735 |
|
|
|
10.00 |
% |
|
10/31/2026 |
(1)Loan amount consists of outstanding principal balance plus unfunded loan commitments. (2)Maximum maturity date assumes all extension options are exercised. The following table details the Company’s investment in residential bridge loans as of December 31, 2024 ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of Loans |
|
Loan Amount(1) |
|
|
Outstanding Principal |
|
|
Fair Value |
|
|
Interest Rate |
|
|
Maximum Maturity Date(2) |
3 |
|
$ |
5,979 |
|
|
$ |
2,750 |
|
|
$ |
2,750 |
|
|
|
10.00 |
% |
|
8/19/2025 |
(1)Loan amount consists of outstanding principal balance plus unfunded loan commitments. (2)Maximum maturity date assumes all extension options are exercised.
|
| Tax Lien Investments |
As of December 31, 2025, the Company held the following tax lien investments ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Location |
|
Lien Count |
|
|
Acquisition
Date |
|
Par Value |
|
|
Fair Value |
|
New Jersey |
|
|
1,106 |
|
|
8/30/2024 |
|
$ |
35,392 |
|
|
$ |
35,263 |
|
Mississippi |
|
|
1,433 |
|
|
9/4/2024 |
|
|
7,708 |
|
|
|
8,388 |
|
Colorado |
|
|
1,750 |
|
|
10/23/2024 |
|
|
19,016 |
|
|
|
20,047 |
|
California |
|
|
64,448 |
|
|
12/4/2024 |
|
|
67,386 |
|
|
|
70,974 |
|
Illinois |
|
|
257 |
|
|
12/10/2024 |
|
|
5,946 |
|
|
|
5,921 |
|
New York |
|
|
232 |
|
|
2/18/2025 |
|
|
4,430 |
|
|
|
4,224 |
|
Connecticut |
|
|
631 |
|
|
4/28/2025 |
|
|
5,473 |
|
|
|
5,602 |
|
Ohio |
|
|
163 |
|
|
4/28/2025 |
|
|
2,766 |
|
|
|
2,750 |
|
Florida |
|
|
35,180 |
|
|
6/1/2025 |
|
|
214,964 |
|
|
|
214,326 |
|
Alabama |
|
|
2 |
|
|
11/6/2025 |
|
|
118 |
|
|
|
118 |
|
Washington D.C. |
|
|
16 |
|
|
11/6/2025 |
|
|
579 |
|
|
|
573 |
|
Massachusetts |
|
|
22 |
|
|
11/6/2025 |
|
|
754 |
|
|
|
715 |
|
Maryland |
|
|
3 |
|
|
11/6/2025 |
|
|
42 |
|
|
|
42 |
|
Total |
|
|
105,243 |
|
|
|
|
$ |
364,574 |
|
|
$ |
368,943 |
|
As of December 31, 2024, the Company held the following tax lien investments ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Location |
|
Lien Count |
|
|
Acquisition
Date |
|
Par Value |
|
|
Fair Value |
|
New Jersey |
|
|
869 |
|
|
8/30/2024 |
|
$ |
16,668 |
|
|
$ |
16,667 |
|
Mississippi |
|
|
691 |
|
|
9/4/2024 |
|
|
3,217 |
|
|
|
3,458 |
|
Colorado |
|
|
1,000 |
|
|
10/23/2024 |
|
|
7,213 |
|
|
|
7,797 |
|
California |
|
|
34,995 |
|
|
12/4/2024 |
|
|
36,152 |
|
|
|
37,655 |
|
Illinois |
|
|
265 |
|
|
12/10/2024 |
|
|
2,484 |
|
|
|
2,505 |
|
Total |
|
|
37,820 |
|
|
|
|
$ |
65,734 |
|
|
$ |
68,082 |
|
|