Asset-Specific Debt, Net

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Asset-Specific Debt, Net

ASSET-SPECIFIC DEBT, NET

The following table details our asset-specific debt ($ in thousands):

	December 31, 2023
Asset-Specific Debt		Count	Principal  Balance		Book Value(1)		Wtd. Avg. Yield/Cost(2)		Wtd. Avg.  Term(3)
Financing provided		2	$	1,004,097	$	1,000,210	+ 3.14	%	March 2026
Collateral assets		2	$	1,194,408	$	1,186,559	+ 3.98	%	March 2026
	December 31, 2022
Asset-Specific Debt		Count	Principal  Balance		Book Value(1)		Wtd. Avg.  Yield/Cost(22)		Wtd. Avg.  Term(3)
Financing provided		4	$	950,278	$	942,503	+ 3.29	%	January 2026
Collateral assets		4	$	1,094,450	$	1,081,035	+ 4.73	%	January 2026

(1)The book value of underlying collateral assets excludes any applicable CECL reserves.

(2)These floating rate loans and related liabilities are currency and index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost includes the amortization of deferred origination fees and financing costs.

(3)The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case to the corresponding collateral loans.