v3.26.1
COMMERCIAL LOANS AND INVESTMENTS - Composition (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Jul. 24, 2026
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 334,441 $ 225,581  
Current Face Amount 243,347 170,946  
Carrying Value 241,008 169,262  
CECL Reserve (2,433) (1,709)  
Total Commercial Loans and Investments 238,575 167,553  
Wawa Land Development - Greenwood, IN      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount 14,980 14,800  
Current Face Amount 11,835 9,144  
Carrying Value $ 11,869 $ 9,165  
Coupon Rate 9.50% 9.50%  
Wawa Land Development - Greenwood, IN | Subsequent event      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount     $ 16,700
Wawa and McDonalds Anchored Land Development Antioch, TN      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 7,425 $ 7,425  
Current Face Amount 7,282 6,309  
Carrying Value $ 7,296 $ 6,317  
Coupon Rate 10.25% 10.25%  
Retail Outparcels Lawrenceville Ga      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount   $ 7,200  
Current Face Amount   1,099  
Carrying Value   $ 1,095  
Coupon Rate   11.25%  
Wawa Land Development - Mt Carmel, OH      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount   $ 6,127  
Current Face Amount   6,127  
Carrying Value   $ 6,127  
Coupon Rate   11.50%  
Sale-Leaseback - Bradenton Beach, FL      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 9,608 $ 9,608  
Current Face Amount 9,475 9,519  
Carrying Value $ 9,475 $ 9,519  
Coupon Rate 8.30% 8.30%  
Sale-Leaseback - Anna Maria, FL      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 16,408 $ 16,408  
Current Face Amount 16,180 16,256  
Carrying Value $ 16,180 $ 16,256  
Coupon Rate 8.30% 8.30%  
Sale-Leaseback - Long Boat Key, FL      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 5,408 $ 5,408  
Current Face Amount 5,333 5,358  
Carrying Value $ 5,333 $ 5,358  
Coupon Rate 8.30% 8.30%  
Mortgage Note - At Home Plaza - North Canton, OH      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 6,200 $ 6,200  
Current Face Amount 6,200 6,200  
Carrying Value $ 6,200 $ 6,200  
Coupon Rate 8.65% 8.65%  
Construction Loan - Retail Land Development - Stuart, FL      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 15,500 $ 15,500  
Current Face Amount 11,664 7,084  
Carrying Value $ 11,606 $ 6,987  
Coupon Rate 11.00% 10.00%  
Mortgage Note - Cornerstone Exchange - Daytona Beach, FL      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 23,905 $ 23,905  
Current Face Amount 8,588 6,886  
Carrying Value $ 8,503 $ 6,747  
Coupon Rate 10.00% 10.00%  
Mortgage Note - Old Time Pottery - Orange Park, FL      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount   $ 4,000  
Current Face Amount   4,000  
Carrying Value   $ 4,000  
Coupon Rate   8.00%  
Mortgage Note - Industrial - Fremont, CA      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 24,000 $ 24,000  
Current Face Amount 24,000 24,000  
Carrying Value $ 23,825 $ 23,751  
Coupon Rate 11.00% 11.00%  
Mortgage Note - Church - Reno, NV      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount   $ 4,000  
Current Face Amount   4,000  
Carrying Value   $ 4,000  
Coupon Rate   8.00%  
Mortgage Note - Luxury Residential Development - Austin, TX      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 61,250 $ 29,500  
Current Face Amount 59,650 28,627  
Carrying Value $ 58,632 $ 28,070  
Coupon Rate 16.00% 17.00%  
Mortgage loans on real estate, face amount of mortgages, net of participating mortgage loans, mortgage obligations, amount $ 40,600 $ 18,600  
Cash interest rate 12 13  
Paid in kind interest rate 4 4  
Construction Loan - Mixed-Use Development - Lake Toxaway, NC      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 13,500 $ 13,500  
Current Face Amount 9,406 6,938  
Carrying Value $ 9,315 $ 6,813  
Coupon Rate 16.00% 16.00%  
Cash interest rate 13 13  
Paid in kind interest rate 3 3  
Construction Loan - Costco Mixed-Use Development - Atlanta, GA      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 4,500 $ 4,500  
Current Face Amount 2,452 879  
Carrying Value $ 2,422 $ 838  
Coupon Rate 11.00% 11.00%  
Redevelopment Loan - Mixed-Use Redevelopment - Denver, CO      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 13,500 $ 13,500  
Current Face Amount 9,011 8,519  
Carrying Value $ 8,843 $ 8,317  
Coupon Rate 12.00% 12.00%  
Cash interest rate 9 9  
Paid in kind interest rate 3 3  
Mortgage Note - Mixed-Use Development - Herndon, VA      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 20,000 $ 20,000  
Current Face Amount 20,203 20,001  
Carrying Value $ 19,994 $ 19,702  
Coupon Rate 12.00% 12.00%  
Cash interest rate 10 10  
Paid in kind interest rate 2 2  
Sale-Leaseback - Aspen, CO      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 10,000    
Current Face Amount 9,995    
Carrying Value $ 9,995    
Coupon Rate 8.39%    
Construction Loan - Retail Development - Covington, GA      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 32,000    
Current Face Amount 9,642    
Carrying Value $ 9,373    
Coupon Rate 13.00%    
Cash interest rate 11.5    
Paid in kind interest rate 1.5    
Construction Loan - Retail Development - Lexington, KY      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 40,000    
Current Face Amount 6,177    
Carrying Value $ 5,893    
Coupon Rate 10.00%    
Sales-Type Lease - Denver, CO      
COMMERCIAL LOANS AND INVESTMENTS      
Original Face Amount $ 16,257    
Current Face Amount 16,254    
Carrying Value $ 16,254    
Coupon Rate 8.11%