v3.26.1
Investment in Real Estate Debt (Tables)
3 Months Ended
Mar. 31, 2026
Schedule of Investments [Abstract]  
Summary of Investment in Real Estate Debt

The following tables detail the Company’s investment in real estate debt as of March 31, 2026 and December 31, 2025 ($ in thousands):

 

 

 

 

March 31, 2026

 

Type of Security/Loan

 

Number of Positions

 

Coupon (1)

 

Maturity Date (2)

 

Cost Basis

 

 

Fair Value

 

Term loan

 

1

 

BBSY + 4.75%

 

June 2030

 

$

956,877

 

 

$

940,286

 

Total investment in real estate debt

 

1

 

BBSY + 4.75%

 

June 2030

 

$

956,877

 

 

$

940,286

 

 

 

 

 

 

December 31, 2025

 

Type of Security/Loan

 

Number of
Positions

 

Coupon (1)

 

Maturity Date (2)

 

Cost Basis

 

 

Fair Value

 

Term loan

 

1

 

BBSY + 4.75%

 

June 2030

 

$

956,877

 

 

$

915,431

 

Total investment in real estate debt

 

1

 

BBSY + 4.75%

 

June 2030

 

$

956,877

 

 

$

915,431

 

__________

(1)
The symbol “BBSY” refers to the relevant benchmark rate, the three-month Bank Bill Swap Bid Rate (“BBSY”).
(2)
Maturity date is based on the fully extended maturity date of the underlying collateral.