v3.26.1
Real Estate Securities (Tables)
6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-Sale Securities
The following is a summary of the Company's real estate securities, available for sale, measured at fair value, as of June 30, 2026 and December 31, 2025 (dollars in thousands):
CMBS Bonds
Number of BondsBenchmark Interest RateWeighted Average Interest Rate
Weighted Average Contractual Maturity (years)
Par ValueFair Value
June 30, 2026131 Month SOFR6.60%9.8$187,159 $187,247 
December 31, 2025101 Month SOFR6.61%8.4$151,362 $151,662 
The following table shows the amortized cost, unrealized gain/(loss) and fair value of the Company's CMBS bonds as of June 30, 2026 and December 31, 2025 (dollars in thousands):
Amortized CostUnrealized GainUnrealized (Loss)Fair Value
June 30, 2026$187,905 $43 $(701)$187,247 
December 31, 2025$151,946 $76 $(360)$151,662