XML 36 R14.htm IDEA: XBRL DOCUMENT v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The carrying values of cash and cash equivalents and accounts payable approximate their fair values due to the short term nature of these financial instruments.
We estimate the fair values of our loans held for investment and outstanding principal balances under our Secured Financing Facilities by using Level III inputs, including discounted cash flow analyses and currently prevailing market terms as of the measurement date.
The table below provides information regarding our financial assets and liabilities not carried at fair value in our consolidated balance sheets:
As of December 31,
20242023
Carrying ValueFair ValueCarrying ValueFair Value
Financial assets
Loans held for investment$601,842 $603,558 $622,086 $626,079 
Financial liabilities
Secured Financing Facilities$417,796 $418,492 $454,422 $454,620 
There were no transfers of financial assets or liabilities within the fair value hierarchy during the years ended December 31, 2024 or 2023.