Accounts Payable, Accrued Expenses and Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2026

Components of our Accounts Payable, Accrued Expense and Other Liabilities

The following table details the components of our accounts payable, accrued expense and other liabilities ($ in thousands):


	June 30, 2026		December 31, 2025
Accrued dividends payable	$	492,478	$	38,668
Accrued interest payable		—		33,876
Accounts payable and other liabilities(1)		14,099		13,159
General CECL Allowance on unfunded commitments(2)		—		5,759
Total	$	506,577	$	91,462

(1)

Includes $14.0 million and $13.1 million of accounts payable and other liabilities on the balance sheet of the Real Estate Owned, Held for Investment at June 30, 2026 and December 31, 2025, respectively.

(2)

Refer to "Note 4 – Commercial Mortgage Loans, Subordinate Loans and Other Lending Assets, Net" for additional disclosure related to the General CECL Allowance on unfunded commitments as of December 31, 2025.