XML 87 R64.htm IDEA: XBRL DOCUMENT v3.25.0.1
Real Estate Portfolio - Schedule of Investment in Loans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Loans and Leases Receivable Disclosure        
Principal Balance $ 1,678,147 $ 1,176,111    
Weighted Average Interest Rate 8.80% 9.00%    
Weighted Average Term 4 years 4 months 24 days 5 years 1 month 6 days    
Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 1,651,533 [1] $ 1,144,177 [1] $ 685,793 $ 498,002
Future Funding Commitments 548,524 755,243    
Senior Secured Notes        
Loans and Leases Receivable Disclosure        
Principal Balance $ 85,000 $ 85,000    
Weighted Average Interest Rate 11.00% 11.00%    
Weighted Average Term 6 years 3 months 18 days 7 years 3 months 18 days    
Senior Secured Notes | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 81,857 $ 73,818    
Future Funding Commitments 0 0    
Senior Secured Loans        
Loans and Leases Receivable Disclosure        
Principal Balance $ 684,686 $ 392,250    
Weighted Average Interest Rate 8.00% 7.30%    
Weighted Average Term 4 years 8 months 12 days 5 years 4 months 24 days    
Senior Secured Loans | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 674,200 $ 386,274    
Future Funding Commitments 308,776 476,395    
Mezzanine Loans and Preferred Equity        
Loans and Leases Receivable Disclosure        
Principal Balance $ 908,461 $ 698,861    
Weighted Average Interest Rate 9.20% 9.80%    
Weighted Average Term 4 years 1 month 6 days 4 years 7 months 6 days    
Mezzanine Loans and Preferred Equity | Investments in loans and securities, net        
Loans and Leases Receivable Disclosure        
Carrying Value $ 895,476 $ 684,085    
Future Funding Commitments $ 239,748 $ 278,848    
[1] As of December 31, 2024 and December 31, 2023, our Investments in leases - sales-type, Investments in leases - financing receivables, Investments in loans and Other assets (sales-type sub-leases) are net of $802.7 million, $737.1 million, $25.0 million and $20.6 million, respectively, and $701.1 million, $703.6 million, $29.8 million, and $18.7 million, respectively, of Allowance for credit losses. Refer to Note 5 - Allowance for Credit Losses for further details.