Asset-Specific Debt, Net

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Asset-Specific Debt, Net

ASSET-SPECIFIC DEBT, NET

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

	March 31, 2024
Asset-Specific Debt		Count	Principal  Balance		Book Value(1)		Wtd. Avg. Yield/Cost(2)		Wtd. Avg.  Term(3)
Financing provided		2	$	1,064,484	$	1,061,380	+ 3.16	%	April 2026
Collateral assets		2	$	1,268,225	$	1,261,171	+ 3.90	%	April 2026
	December 31, 2023
Asset-Specific Debt		Count	Principal  Balance		Book Value(1)		Wtd. Avg.  Yield/Cost(22)		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

(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.