v3.26.1
Variable Interest Entity (Tables)
6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
The assets and liabilities related to the consolidated joint venture are as follows:
(in thousands)June 30, 2026December 31, 2025
Assets
Investments in real estate securities, at fair value$149,439 $103,668 
Cash 2,569 3,731 
Interest receivable492 334 
Total assets$152,500 $107,733 
Liabilities
Repurchase agreements, at fair value$106,264 $82,864 
Due to affiliates38 — 
Interest payable249 122 
Accrued expenses and other liabilities 42 — 
Total liabilities$106,593 $82,986