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Senior Secured Term Loan, Net (Tables)
 3 Months Ended
Mar. 31, 2024
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 March 31, 2024 and December 31, 2023 ($ in thousands):
March 31, 2024
Local CurrencyCountOutstanding PrincipalCarrying Value
GBP7$1,704,318 $1,685,240 
EUR5867,551859,740
SEK1232,117 230,524 
Total 13$2,803,986 $2,775,504 
December 31, 2023
Local CurrencyCountOutstanding PrincipalCarrying Value
GBP7$1,662,457 $1,643,979 
EUR61,021,2721,012,987
SEK1248,088 246,220 
Total 14$2,931,817 $2,903,186 
The table below provides the borrowings outstanding (on an as converted basis) and weighted-average fully-extended maturities by currency for the assets financed under the Barclays Private Securitization as of March 31, 2024 ($ in thousands):
Borrowings Outstanding(1)
Fully-Extended Maturity(2)
Total/Weighted-Average GBP$1,261,051 
July 2026
Total/Weighted-Average EUR609,619
September 2026(3)
Total/Weighted-Average SEK185,694May 2026
Total/Weighted-Average Securitization$2,056,364 July 2026
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(1)As of March 31, 2024, we had £998.9 million, €565.0 million, and kr2.0 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, 2023 ($ in thousands):
Borrowings Outstanding(1)
Fully-Extended Maturity(2)
Total/Weighted-Average GBP1,234,740June 2026
Total/Weighted-Average EUR723,947
May 2026(3)
Total/Weighted-Average SEK198,470May 2026
Total/Weighted-Average Securitization$2,157,157 June 2026
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(1)As of December 31, 2023, we had £969.9 million, €655.8 million, and kr2.0 billion of borrowings outstanding under the Barclays Private Securitization secured by certain of our commercial mortgage loans.
(2)Assumes underlying loans extend to fully extended maturity and extensions at our option are exercised.
(3)The EUR portion of the Barclays Private Securitization has an "evergreen" feature such that the facility continues for one year and can be terminated by either party on certain dates with, depending on the date of notice, a minimum of nine to twelve months' notice.
The following table summarizes the terms of the Term Loans as of March 31, 2024 ($ in thousands):
Principal Amount
Unamortized Issuance Discount(1)
Deferred Financing Costs(1)
Carrying ValueRateMaturity Date
2026 Term Loan$476,250 $(743)$(3,923)$471,584 2.86 %5/15/2026
2028 Term Loan291,000 (1,679)(2,993)286,328 3.61 %3/11/2028
Total$767,250 $(2,422)$(6,916)$757,912 
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(1)     Unamortized issuance discount and deferred financing costs will be amortized to interest expense over remaining life of respective term loans.
The following table summarizes the terms of the Term Loans as of December 31, 2023 ($ in thousands):
Principal Amount
Unamortized Issuance Discount(1)
Deferred Financing Costs(1)
Carrying ValueRateMaturity Date
2026 Term Loan$477,500 $(833)$(4,302)$472,365 2.86 %5/15/2026
2028 Term Loan291,750 (1,786)(3,179)286,785 3.61 %3/11/2028
Total$769,250 $(2,619)$(7,481)$759,150 
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(1)     Unamortized issuance discount and deferred financing costs will be amortized to interest expense over remaining life of respective term loans.