Real Estate Loan Investments, at Fair Value (Tables) |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Real Estate Loan Investments | The following table summarizes the real estate loan investments, at fair value as of March 31, 2026 and December 31, 2025 ($ in thousands):
(1) Loan amount consists of outstanding principal balance plus unfunded loan commitments. (2) Generally, real estate loans investments earn interest at the one-month Term Secured Overnight Financing Rate (“SOFR”) plus a spread. As of March 31, 2026 and December 31, 2025, floating-rate real estate loan investments represented 99.6% and 99.4%, respectively, of the Company's investment portfolio. (3) Certain of our floating rate loans are subject to index floors. (4) Assumes all extension options are exercised by the borrower; however, loans may be repaid prior to such date. Extension options are subject to certain conditions, as defined in the respective loan agreement. (5) For investments in subordinate participation interest in mortgage loans, the Company's subordinate interests are held through junior participations in respective mortgage loans originated by affiliated entities. The Company is entitled to its pro-rata share of interest per the respective participation agreements. The interest rate used as part of the period-end weighted average rate is of the loan originated by the affiliated entity. (6)
Investments are participation interests in mezzanine loans originated by affiliates of the Monticello Advisor. |
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| Schedule of Real Estate Loan Investments at Fair Value by Property Type | The following table summarizes the real estate loan investments, at fair value by property type as of March 31, 2026 and December 31, 2025 ($ in thousands):
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| Schedule of Real Estate Loan Investments at Fair Value by Geographic Location | The following table summarizes the real estate loan investments, at fair value by geographic location as of March 31, 2026 and December 31, 2025 ($ in thousands):
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