LOANS HELD FOR INVESTMENT - Schedule of Current Investment Portfolio (Details)
$ in Thousands |
1 Months Ended |
3 Months Ended |
6 Months Ended |
|
|
|
|
Oct. 31, 2025
USD ($)
|
Jun. 30, 2026
USD ($)
|
Jun. 30, 2026
USD ($)
option
|
Dec. 31, 2025
USD ($)
|
Sep. 19, 2024
USD ($)
|
Sep. 08, 2023
USD ($)
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 1,840,169
|
$ 1,840,169
|
$ 1,601,059
|
|
|
| Carrying Value |
|
1,748,835
|
$ 1,748,835
|
1,528,806
|
|
|
| Unleveraged Effective Yield |
|
|
5.70%
|
|
|
|
| Payments to interests |
|
1,700
|
$ 3,300
|
|
|
|
| Total unfunded commitments |
|
85,327
|
$ 85,327
|
$ 59,876
|
|
|
| Minimum |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
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|
|
|
|
|
| Number of extension options | option |
|
|
1
|
|
|
|
| Maximum |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Number of extension options | option |
|
|
2
|
|
|
|
| Extension period of maturity date (in months) |
|
|
12 months
|
|
|
|
| Residential/Condo | Senior Mortgage Loans | NY | SOFR Plus 8.95% Due Dec 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
189,500
|
$ 189,500
|
|
|
|
| Carrying Value |
|
$ 140,200
|
$ 140,200
|
|
|
|
| Interest Rate |
|
8.95%
|
8.95%
|
|
|
|
| Unleveraged Effective Yield |
|
|
0.00%
|
|
|
|
| Office | IL |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Interest Rate Under Subordinated Debt and Preferred Equity Investments |
|
|
10.00%
|
|
|
|
| Office | AZ | Subordinated B Note |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Interest Rate Under Subordinated Debt and Preferred Equity Investments |
12.00%
|
|
|
|
|
|
| Office | AZ | Subordinated C Note Loan |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Interest Rate Under Subordinated Debt and Preferred Equity Investments |
5.50%
|
|
|
|
|
|
| Office | Senior Mortgage Loans | NY | SOFR Plus 2.65% Due Jul 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 65,000
|
$ 65,000
|
|
|
|
| Carrying Value |
|
$ 65,000
|
$ 65,000
|
|
|
|
| Interest Rate |
|
2.65%
|
2.65%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.30%
|
|
|
|
| Office | Senior Mortgage Loans | NY | SOFR Plus 8.95% Due Dec 2025 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Interest Rate |
|
8.95%
|
8.95%
|
|
|
|
| Office | Senior Mortgage Loans | IL | SOFR Plus 2.25% Due Jan 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 169,000
|
$ 169,000
|
|
|
|
| Carrying Value |
|
136,300
|
$ 136,300
|
|
|
|
| Unleveraged Effective Yield |
|
|
0.00%
|
|
|
|
| Office | Senior Mortgage Loans | IL | SOFR Plus 4.25% Due Jan 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
53,700
|
$ 53,700
|
|
|
|
| Carrying Value |
|
$ 53,700
|
$ 53,700
|
|
|
|
| Interest Rate |
|
4.25%
|
4.25%
|
|
|
|
| Unleveraged Effective Yield |
|
|
8.00%
|
|
|
|
| Office | Senior Mortgage Loans | IL | SOFR Plus 2.25 %, Due July 2025 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Interest Rate |
|
2.25%
|
2.25%
|
|
|
|
| Office | Senior Mortgage Loans | NC |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
|
|
|
$ 68,600
|
|
| Office | Senior Mortgage Loans | NC | SOFR Plus 3.65% Due Aug 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 72,700
|
$ 72,700
|
|
|
|
| Carrying Value |
|
$ 72,700
|
$ 72,700
|
|
|
|
| Interest Rate |
|
3.65%
|
3.65%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.30%
|
|
|
|
| Office | Senior Mortgage Loans | Diversified | SOFR Plus 3.75% Due Jul 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 7,900
|
$ 7,900
|
|
|
|
| Carrying Value |
|
$ 7,900
|
$ 7,900
|
|
|
|
| Interest Rate |
|
3.75%
|
3.75%
|
|
|
|
| Unleveraged Effective Yield |
|
|
12.40%
|
|
|
|
| Office | Senior Mortgage Loans | CA | SOFR Plus 2.65% Due Jul 2027 | Subordinated B Note |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 0
|
$ 0
|
|
|
|
| Office | Senior Mortgage Loans | CA | SOFR Plus 2.65% Due Jul 2027 | Senior A Note |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Total unfunded commitments |
|
500
|
500
|
|
|
|
| Office | Senior Mortgage Loans | AZ | SOFR Plus 2%, Due Oct 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
65,000
|
65,000
|
|
|
|
| Carrying Value |
|
$ 65,000
|
$ 65,000
|
|
|
|
| Interest Rate |
|
2.00%
|
2.00%
|
|
|
|
| Unleveraged Effective Yield |
|
|
5.70%
|
|
|
|
| Office | Senior Mortgage Loans | AZ | SOFR Plus 2.00%, Due Oct 2027 | Subordinated B Note |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
$ 0
|
|
|
|
|
|
| Office | Senior Mortgage Loans | AZ | SOFR Plus 2.00%, Due Oct 2027 | Senior A Note |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Interest Rate |
2.00%
|
|
|
|
|
|
| Office | Senior Mortgage Loans | AZ | SOFR Plus 2.00%, Due Oct 2027 | Senior A Note | Unfunded Loan Commitment |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
$ 12,000
|
|
|
|
|
|
| Office | Subordinated debt and preferred equity investments | AZ | SOFR Plus 2.00%, Due Oct 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 8,700
|
$ 8,700
|
|
|
|
| Carrying Value |
|
8,500
|
$ 8,500
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.60%
|
|
|
|
| Multifamily | Senior Mortgage Loans | NY | SOFR Plus 3.90% Due Jun 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
132,200
|
$ 132,200
|
|
|
|
| Carrying Value |
|
$ 131,800
|
$ 131,800
|
|
|
|
| Interest Rate |
|
3.90%
|
3.90%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.80%
|
|
|
|
| Multifamily | Senior Mortgage Loans | NY | SOFR Plus 2.45% Due Mar 2029 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 84,000
|
$ 84,000
|
|
|
|
| Carrying Value |
|
$ 83,100
|
$ 83,100
|
|
|
|
| Interest Rate |
|
2.45%
|
2.45%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.50%
|
|
|
|
| Multifamily | Senior Mortgage Loans | NC | SOFR Plus 2.40% Due Oct 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 50,000
|
$ 50,000
|
|
|
|
| Carrying Value |
|
$ 49,700
|
$ 49,700
|
|
|
|
| Interest Rate |
|
2.40%
|
2.40%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.60%
|
|
|
|
| Multifamily | Senior Mortgage Loans | TX | SOFR Plus 2.95% Due Dec 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 67,400
|
$ 67,400
|
|
|
|
| Carrying Value |
|
$ 67,200
|
$ 67,200
|
|
|
|
| Interest Rate |
|
2.95%
|
2.95%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.20%
|
|
|
|
| Multifamily | Senior Mortgage Loans | TX | SOFR Plus 2.60%, Due july 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 18,200
|
$ 18,200
|
|
|
|
| Carrying Value |
|
$ 18,200
|
$ 18,200
|
|
|
|
| Interest Rate |
|
2.60%
|
2.60%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.50%
|
|
|
|
| Multifamily | Senior Mortgage Loans | OH | SOFR Plus 3.05% Due Oct 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 57,300
|
$ 57,300
|
|
|
|
| Carrying Value |
|
$ 57,200
|
$ 57,200
|
|
|
|
| Interest Rate |
|
3.05%
|
3.05%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.10%
|
|
|
|
| Multifamily | Senior Mortgage Loans | MA | SOFR Plus 3.10% Due Oct 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 49,000
|
$ 49,000
|
|
|
|
| Carrying Value |
|
$ 48,600
|
$ 48,600
|
|
|
|
| Interest Rate |
|
3.10%
|
3.10%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.30%
|
|
|
|
| Multifamily | Senior Mortgage Loans | TN | SOFR Plus 2.55%, Due May 2029 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 22,600
|
$ 22,600
|
|
|
|
| Carrying Value |
|
$ 22,300
|
$ 22,300
|
|
|
|
| Interest Rate |
|
2.55%
|
2.55%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.60%
|
|
|
|
| Industrial | Senior Mortgage Loans | GA | SOFR Plus 2.25% Due Oct 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 96,900
|
$ 96,900
|
|
|
|
| Carrying Value |
|
$ 96,100
|
$ 96,100
|
|
|
|
| Interest Rate |
|
2.25%
|
2.25%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.30%
|
|
|
|
| Industrial | Senior Mortgage Loans | CA | SOFR Plus 3.00% Due Nov 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 55,200
|
$ 55,200
|
|
|
|
| Carrying Value |
|
$ 54,800
|
$ 54,800
|
|
|
|
| Interest Rate |
|
3.00%
|
3.00%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.00%
|
|
|
|
| Industrial | Senior Mortgage Loans | CA | SOFR Plus 3.85% Due Jan 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 7,000
|
$ 7,000
|
|
|
|
| Carrying Value |
|
$ 7,000
|
$ 7,000
|
|
|
|
| Interest Rate |
|
3.85%
|
3.85%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.50%
|
|
|
|
| Industrial | Senior Mortgage Loans | MA | SOFR Plus 2.90% Due Jun 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 45,600
|
$ 45,600
|
|
|
|
| Carrying Value |
|
$ 45,500
|
$ 45,500
|
|
|
|
| Interest Rate |
|
2.90%
|
2.90%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.70%
|
|
|
|
| Industrial | Senior Mortgage Loans | NJ | SOFR Plus 8.85% Due Nov 2024 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 27,800
|
$ 27,800
|
|
|
|
| Carrying Value |
|
$ 27,800
|
$ 27,800
|
|
|
|
| Interest Rate |
|
8.85%
|
8.85%
|
|
|
|
| Unleveraged Effective Yield |
|
|
12.50%
|
|
|
|
| Industrial | Subordinated debt and preferred equity investments | CA | SOFR Plus 3.85% Due Jan 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 12,600
|
$ 12,600
|
|
|
|
| Carrying Value |
|
10,900
|
$ 10,900
|
|
|
|
| Unleveraged Effective Yield |
|
|
0.00%
|
|
|
|
| Interest Rate Under Subordinated Debt and Preferred Equity Investments |
|
|
3.85%
|
|
|
|
| Self Storage | Senior Mortgage Loans | Diversified | SOFR Plus 2.50% Due Dec 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
70,600
|
$ 70,600
|
|
|
|
| Carrying Value |
|
$ 70,000
|
$ 70,000
|
|
|
|
| Interest Rate |
|
2.50%
|
2.50%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.50%
|
|
|
|
| Self Storage | Senior Mortgage Loans | Diversified | SOFR Plus 2 .70%, Due May 2029 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 65,000
|
$ 65,000
|
|
|
|
| Carrying Value |
|
$ 64,300
|
$ 64,300
|
|
|
|
| Interest Rate |
|
2.70%
|
2.70%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.70%
|
|
|
|
| Self Storage | Senior Mortgage Loans | AZ | SOFR Plus 3.25% Due Feb 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 10,800
|
$ 10,800
|
|
|
|
| Carrying Value |
|
$ 10,800
|
$ 10,800
|
|
|
|
| Interest Rate |
|
3.25%
|
3.25%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.20%
|
|
|
|
| Self Storage | Senior Mortgage Loans | MA | SOFR Plus 3.00% Due Nov 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 7,700
|
$ 7,700
|
|
|
|
| Carrying Value |
|
$ 7,700
|
$ 7,700
|
|
|
|
| Interest Rate |
|
3.00%
|
3.00%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.90%
|
|
|
|
| Self Storage | Senior Mortgage Loans | FL | SOFR Plus 3.25% Due Dec 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 12,300
|
$ 12,300
|
|
|
|
| Carrying Value |
|
$ 12,300
|
$ 12,300
|
|
|
|
| Interest Rate |
|
3.25%
|
3.25%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.00%
|
|
|
|
| Self Storage | Senior Mortgage Loans | FL | SOFR Plus 3.75% Due Jun 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 9,600
|
$ 9,600
|
|
|
|
| Carrying Value |
|
$ 9,600
|
$ 9,600
|
|
|
|
| Interest Rate |
|
3.75%
|
3.75%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.50%
|
|
|
|
| Self Storage | Senior Mortgage Loans | FL | SOFR Plus 3.50% Due Apr 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 7,100
|
$ 7,100
|
|
|
|
| Carrying Value |
|
$ 7,100
|
$ 7,100
|
|
|
|
| Interest Rate |
|
3.50%
|
3.50%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.50%
|
|
|
|
| Self Storage | Senior Mortgage Loans | IN | SOFR Plus 3.60%, Due Aug 2026 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 11,400
|
$ 11,400
|
|
|
|
| Carrying Value |
|
$ 11,400
|
$ 11,400
|
|
|
|
| Interest Rate |
|
3.60%
|
3.60%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.50%
|
|
|
|
| Self Storage | Senior Mortgage Loans | PA | SOFR Plus 3.50% Due May 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 8,900
|
$ 8,900
|
|
|
|
| Carrying Value |
|
$ 8,900
|
$ 8,900
|
|
|
|
| Interest Rate |
|
3.50%
|
3.50%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.50%
|
|
|
|
| Retail | Senior Mortgage Loans | CA | SOFR Plus 2.75%, Due Mar 2029 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 67,300
|
$ 67,300
|
|
|
|
| Carrying Value |
|
$ 66,600
|
$ 66,600
|
|
|
|
| Interest Rate |
|
2.75%
|
2.75%
|
|
|
|
| Unleveraged Effective Yield |
|
|
6.80%
|
|
|
|
| Hotel | Senior Mortgage Loans | NY | SOFR Plus 4.40% Due Mar 2027 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 55,700
|
$ 55,700
|
|
|
|
| Carrying Value |
|
$ 55,600
|
$ 55,600
|
|
|
|
| Interest Rate |
|
4.40%
|
4.40%
|
|
|
|
| Unleveraged Effective Yield |
|
|
8.30%
|
|
|
|
| Hotel | Senior Mortgage Loans | Diversified | SOFR Plus 3.75% Due Dec 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 23,900
|
$ 23,900
|
|
|
|
| Carrying Value |
|
$ 23,700
|
$ 23,700
|
|
|
|
| Interest Rate |
|
3.75%
|
3.75%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.80%
|
|
|
|
| Hotel | Senior Mortgage Loans | CA | SOFR Plus 2.95%, Due June 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 35,000
|
$ 35,000
|
|
|
|
| Carrying Value |
|
$ 34,700
|
$ 34,700
|
|
|
|
| Interest Rate |
|
2.95%
|
2.95%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.10%
|
|
|
|
| Hotel | Senior Mortgage Loans | SC | SOFR Plus 3.50% Due Nov 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 48,300
|
$ 48,300
|
|
|
|
| Carrying Value |
|
$ 47,900
|
$ 47,900
|
|
|
|
| Interest Rate |
|
3.50%
|
3.50%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.60%
|
|
|
|
| Hotel | Senior Mortgage Loans | FL | SOFR Plus 3.35% Due Dec 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 19,400
|
$ 19,400
|
|
|
|
| Carrying Value |
|
$ 19,200
|
$ 19,200
|
|
|
|
| Interest Rate |
|
3.35%
|
3.35%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.40%
|
|
|
|
| Mixed-Use | Senior Mortgage Loans | NY | SOFR Plus 3.25% Due Jan 2028 |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
$ 29,900
|
$ 29,900
|
|
|
|
| Carrying Value |
|
$ 29,500
|
$ 29,500
|
|
|
|
| Interest Rate |
|
3.25%
|
3.25%
|
|
|
|
| Unleveraged Effective Yield |
|
|
7.80%
|
|
|
|
| Mixed-Use | Senior Mortgage Loans | FL |
|
|
|
|
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |
|
|
|
|
|
|
| Outstanding Principal |
|
|
|
|
|
$ 82,900
|