v3.26.1
Investments in Equity Affiliates (Tables)
 6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
We account for all investments in equity affiliates under the equity method. A summary of these investments is as follows ($ in thousands):
Investments in Equity Affiliates atUPB of Loans to Equity Affiliates at June 30, 2026
Equity Affiliates June 30, 2026December 31, 2025
Biscayne Shores$24,343 $— $— 
Fifth Wall Ventures19,783 17,260 — 
AWC Real Estate Opportunity Partners I LP16,401 17,134 108,450 
AMAC Holdings III LLC11,598 12,714 33,410 
ARSR DPREF I LLC5,921 5,745 — 
Lightstone Value Plus REIT L.P.1,895 1,895 — 
Clarus Berkley1,140 1,500 67,900 
The Park at Via Terrossa552 578 21,845 
Docsumo Pte. Ltd.439 450 — 
JT Prime425 425 — 
The Cypress at Wesley Park265 265 14,964 
Lexford Portfolio— — — 
East River Portfolio— — — 
Total$82,762 $57,966 $246,569