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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Carrying Value and Estimated Fair Value of Company's Financial Instruments

The following table presents the carrying value and estimated fair value of our financial instruments not carried at fair value on our condensed consolidated balance sheets at September 30, 2024 and December 31, 2023 ($ in thousands):

		September 30, 2024								December 31, 2023
		Carrying Value				Estimated Fair Value				Carrying Value				Estimated Fair Value
Cash and cash equivalents		$	194,287			$	194,287			$	225,438			$	225,438
Commercial mortgage loans, net			7,456,389				7,373,832				7,925,359				7,813,304
Subordinate loans, net			374,222				374,222				432,734				432,458
Secured debt arrangements, net			(5,513,945	)			(5,513,945	)			(5,538,476	)			(5,538,476	)
Senior secured term loans, net			(755,441	)			(748,643	)			(759,150	)			(754,197	)
Senior secured notes, net			(496,233	)			(446,250	)			(495,637	)			(418,750	)
Debt related to real estate owned, held for investment, net			(278,837	)			(278,837	)			(161,586	)			(161,586	)

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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- References

No definition available.

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