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v3.23.1

Secured Financing Agreements (Tables) | 3 Months Ended
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Mar. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The table below summarizes our Secured Financing Facilities as of March 31, 2023 and December 31, 2022:
|  | Debt Obligation |  |  |  |  |
|  |  |  |  |  |  |  | Weighted Average |  |  | Collateral
|  | Maximum Facility Size |  | Principal Balance |  | Carrying Value |  | Coupon Rate (1) |  | Remaining Maturity (years) (2) |  |  | Principal Balance |  |
March 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Citibank Master Repurchase Facility |  | $ | 215,000 |  |  | $ | 150,101 |  |  | $ | 149,845 |  |  | 6.83 | % |  | 0.9 |  |  | $ | 205,380 |  |  |
UBS Master Repurchase Facility |  | 192,000 |  |  | 133,108 |  |  | 132,680 |  |  | 6.80 | % |  | 0.8 |  |  | 182,530 |  |  |
BMO Facility |  | 150,000 |  |  | 84,855 |  |  | 84,296 |  |  | 6.73 | % |  | 2.0 |  |  | 113,745 |  |  |
Wells Fargo Master Repurchase Facility |  | 125,000 |  |  | 67,426 |  |  | 66,564 |  |  | 6.57 | % |  | 1.9 |  |  | 89,177 |  |  |
Total/weighted average |  | $ | 682,000 |  |  | $ | 435,490 |  |  | $ | 433,385 |  |  | 6.76 | % |  | 1.3 |  |  | $ | 590,832 |  |  |
December 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |
Citibank Master Repurchase Facility |  | $ | 215,000 |  |  | $ | 150,647 |  |  | $ | 150,360 |  |  | 6.34 | % |  | 1.1 |  |  | $ | 205,234 |
UBS Master Repurchase Facility |  | 192,000 |  |  | 144,437 |  |  | 143,887 |  |  | 6.48 | % |  | 1.1 |  |  | 198,254 |
BMO Facility |  | 150,000 |  |  | 111,105 |  |  | 110,473 |  |  | 6.22 | % |  | 2.2 |  |  | 148,476 |
Wells Fargo Master Repurchase Facility |  | 125,000 |  |  | 67,426 |  |  | 66,801 |  |  | 6.23 | % |  | 2.1 |  |  | 89,008 |
Total/weighted average |  | $ | 682,000 |  |  | $ | 473,615 |  |  | $ | 471,521 |  |  | 6.34 | % |  | 1.5 |  |  | $ | 640,972 |
(1)The weighted average coupon rate is determined using the Secured Overnight Financing Rate, or SOFR, plus a spread ranging from 1.83% to 2.51%, as applicable, for the respective borrowings under our Secured Financing Facilities as of the applicable date. (2)The weighted average remaining maturity is determined using the current maturity date of our corresponding loan investments, assuming no borrower loan extension options have been exercised. As of March 31, 2023, our Citibank Master Repurchase Facility, UBS Master Repurchase Facility and Wells Fargo Master Repurchase Facility mature on March 15, 2025, February 18, 2024 and March 11, 2025, respectively. Our BMO Facility matures at various dates based on the respective underlying loans held for investment.
Schedule of Maturities of Long-term Debt | As of March 31, 2023, our outstanding borrowings under our Secured Financing Facilities had the following remaining maturities:
Year |  | Principal Payments on Secured Financing Facilities
2023 |  | $ | 87,237 |
2024 |  | 237,996 |
2025 |  | 110,257 |
2026 and thereafter |  | — |
|  | $ | 435,490 |

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