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Multi-family Loans, at Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2021
Receivables [Abstract] |
Schedule of Preferred Equity and Mezzanine Loan Investments | P referred equity and mezzanine loan investments consist of the following as of September 30, 2021 and December 31, 2020, respectively (dollar amounts in thousands):
| September 30, 2021 |  | December 31, 2020
Investment amount | $ | 118,517 |  |  | $ | 163,392 |
Deferred loan fees, net | (763) |  |  | (1,169) |
Unrealized gains, net | 2,058 |  |  | 1,370 |
Total, at Fair Value | $ | 119,812 |  |  | $ | 163,593 |
Preferred Equity and Mezzanine Loans, Fair Value Compared to Unpaid Principal | The table below presents the fair value and aggregate unpaid principal balance of the Company's preferred equity and mezzanine loan investments in non-accrual status as of September 30, 2021 and December 31, 2020, respectively (dollar amounts in thousands):
|  |  | September 30, 2021 |  | December 31, 2020
Days Late |  |  | Fair Value |  | Unpaid Principal Balance |  | Fair Value |  | Unpaid Principal Balance
90 + |  |  | $ | 3,829 |  |  | $ | 3,363 |  |  | $ | 3,325 |  |  | $ | 3,363 |
Schedule of Geographic Concentration of Credit Risk Exceeding 5% of Balances | The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of residential loans, at fair value as of September 30, 2021 and December 31, 2020, respectively, are as follows:
| September 30, 2021 |  | December 31, 2020
| Residential loans |  | Consolidated SLST |  | Residential loans held in securitization trusts |  | Residential loans |  | Consolidated SLST |  | Residential loans held in securitization trusts
California | 22.3 | % |  | 10.8 | % |  | 23.0 | % |  | 23.6 | % |  | 10.9 | % |  | 19.8 | %
Florida | 10.9 | % |  | 10.6 | % |  | 10.0 | % |  | 13.1 | % |  | 10.5 | % |  | 8.1 | %
New York | 8.2 | % |  | 9.5 | % |  | 9.1 | % |  | 9.2 | % |  | 9.3 | % |  | 8.9 | %
New Jersey | 6.4 | % |  | 7.2 | % |  | 6.1 | % |  | 5.6 | % |  | 7.1 | % |  | 5.6 | %
Texas | 6.5 | % |  | 3.9 | % |  | 4.3 | % |  | 5.6 | % |  | 4.0 | % |  | 4.3 | %
Illinois | 3.1 | % |  | 6.9 | % |  | 2.2 | % |  | 2.5 | % |  | 6.8 | % |  | 2.7 | %
The geographic concentrations of credit risk exceeding 5% of the total preferred equity and mezzanine loan investment amounts as of September 30, 2021 and December 31, 2020, respectively, are as follows:
| September 30, 2021 |  | December 31, 2020
Texas | 17.7 | % |  | 11.4 | %
Tennessee | 17.2 | % |  | 14.3 | %
Florida | 12.1 | % |  | 8.5 | %
South Carolina | 10.3 | % |  | 7.2 | %
Georgia | 7.3 | % |  | 10.1 | %
Ohio | 7.2 | % |  | 5.2 | %
North Carolina | 6.9 | % |  | 4.9 | %

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