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Senior Secured Term Loan, Net (Tables) | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The table below provides principal balances and the carrying value for commercial mortgage loans pledged to the Barclays Private Securitization as of September 30, 2022 and December 31, 2021 ($ in thousands):
| September 30, 2022
Local Currency | Count |  | Outstanding Principal |  | Carrying Value
GBP | 7 |  | $ | 1,398,521 |  |  | $ | 1,381,632 |
EUR | 5 |  | 690,087 |  | 685,090
SEK | 1 |  | 233,280 |  |  | 230,964 |
Total | 13 |  | $ | 2,321,888 |  |  | $ | 2,297,686 |
| December 31, 2021
Local Currency | Count |  | Outstanding Principal |  | Carrying Value
GBP | 7 |  | $ | 1,767,063 |  |  | $ | 1,748,367 |
EUR | 2 |  | 533,164 |  | 528,344
SEK | 1 |  | 286,822 |  |  | 282,555 |
Total | 10 |  | $ | 2,587,049 |  |  | $ | 2,559,266 |
The table below provides the borrowings outstanding (on an as converted basis) and weighted-average fully-extended maturities by currency for the assets financed under the Barclays Private Securitization as of September 30, 2022 ($ in thousands):
| Borrowings outstanding(1) |  | Fully-Extended Maturity(2)
Total/Weighted-Average GBP | $ | 1,046,524 |  |  | April 2026
Total/Weighted-Average EUR | 482,021 |  | July 2025(3)
Total/Weighted-Average SEK | 186,624 |  | May 2026
Total/Weighted-Average Securitization | $ | 1,715,169 |  |  | January 2026
——————— (1)As of September 30, 2022, we had £936.9 million, €491.8 million, and kr2.1 billion of borrowings outstanding under the Barclays Private Securitization secured by certain of our commercial mortgage loans. (2)Assumes underlying loans extend to fully extended maturity and extensions at our option are exercised. (3)The EUR portion of the Barclays Private Securitization has an "evergreen" feature such that the facility continues for one year and can be terminated by either party on certain dates with, depending on the date of notice, a minimum of nine to twelve months' notice. The table below provides the borrowings outstanding (on an as converted basis) and weighted-average fully-extended maturities by currency for the assets financed under the Barclays Private Securitization as of December 31, 2021 ($ in thousands):
| Borrowings outstanding |  | Fully-Extended Maturity(1)
Total/Weighted-Average GBP | $ | 1,299,321 |  |  | June 2025
Total/Weighted-Average EUR | 373,904 |  | November 2022(2)
Total/Weighted-Average SEK | 229,458 |  | November 2022
Total/Weighted-Average Securitization | $ | 1,902,683 |  |  | August 2024
——————— (1)Assumes underlying loans extend to fully extended maturity and extensions at our option are exercised. (2)The EUR portion of the Barclays Private Securitization has an "evergreen" feature such that the facility continues for one year and can be terminated by either party on certain dates with, depending on the date of notice, a minimum of nine to twelve months' notice. The following table summarizes the terms of our Term Loans as of September 30, 2022 ($ in thousands):
| Principal Amount | Unamortized Issuance Discount(1) | Deferred Financing Costs(1) | Carrying Value | Spread | Maturity Date
2026 Term Loan | $ | 483,750 |  | $ | (1,280) |  | $ | (6,635) |  | $ | 475,835 |  | 2.75 | % | 5/15/2026
2028 Term Loan | 295,500 |  | (2,321) |  | (4,115) |  | 289,064 |  | 3.50 | % | 3/11/2028
Total | $ | 779,250 |  | $ | (3,601) |  | $ | (10,750) |  | $ | 764,899 |  |  |
——————— (1) Unamortized issuance discount and deferred financing costs will be amortized to interest expense over remaining life of respective term loans. The following table summarizes the terms of our Term Loans as of December 31, 2021 ($ in thousands):
| Principal Amount | Unamortized Issuance Discount(1) | Deferred Financing Costs(1) | Carrying Value | Spread | Maturity Date
2026 Term Loan | $ | 487,500 |  | $ | (1,548) |  | $ | (7,933) |  | $ | 478,019 |  | 2.75 | % | 5/15/2026
2028 Term Loan | 297,750 |  | (2,643) |  | (4,801) |  | 290,306 |  | 3.50 | % | 3/11/2028
Total | $ | 785,250 |  | $ | (4,191) |  | $ | (12,734) |  | $ | 768,325 |  |  |
——————— (1) Unamortized issuance discount and deferred financing costs will be amortized to interest expense over remaining life of respective term loans.

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