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Secured Financing Agreements (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The table below summarizes our Secured Financing Facilities as of March 31, 2024 and December 31, 2023:

						Debt Obligation
																								Weighted Average																		Collateral
						Maximum Facility Size						Principal Balance						Carrying Value						Coupon Rate (1)						Remaining Maturity (years) (2)						Maturity Date						Principal Balance
March 31, 2024:
Citibank Master Repurchase Facility						$	215,000					$	57,893					$	57,642					7.45		%				0.6						3/15/2025						$	102,161
UBS Master Repurchase Facility						205,000						181,381						181,188						7.68		%				0.7						2/18/2025						242,110
BMO Facility						150,000						87,767						87,525						7.24		%				1.0						Various						118,835
Wells Fargo Master Repurchase Facility						125,000						95,551						94,816						7.40		%				0.9						3/11/2025						127,526
Total/weighted average						$	695,000					$	422,592					$	421,171					7.50		%				0.8												$	590,632

December 31, 2023:
Citibank Master Repurchase Facility						$	215,000					$	91,115					$	90,811					7.47		%				0.7						3/15/2025						$	142,465
UBS Master Repurchase Facility						205,000						181,381						181,162						7.72		%				0.8						2/18/2025						241,887
BMO Facility						150,000						87,767						87,451						7.29		%				1.3						Various						118,471
Wells Fargo Master Repurchase Facility						125,000						95,551						94,998						7.44		%				1.1						3/11/2025						127,069
Total/weighted average						$	695,000					$	455,814					$	454,422					7.53		%				0.9												$	629,892

(1)The weighted average coupon rate is determined using the Secured Overnight Financing Rate, or SOFR, plus a spread ranging from 1.83% to 2.90%, as applicable, for the respective borrowings under our Secured Financing Facilities as of the applicable date.

(2)The weighted average remaining maturity of our Master Repurchase Facilities is determined using the earlier of the underlying loan investment maturity date and the respective repurchase agreement maturity date. The weighted average remaining maturity of the BMO Facility is determined using the underlying loan investment maturity date.

Schedule of Maturities of Long-term Debt

As of March 31, 2024, our outstanding borrowings under our Secured Financing Facilities had the following remaining maturities:

Year						Principal Payments on Secured Financing Facilities
2024						$	157,062
2025						265,530
2026 and thereafter						—
						$	422,592

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