8. SECURITIZED DEBT OBLIGATIONS, NET

In the second quarter of 2017, we financed one of our loans through a single asset securitization vehicle, or the Securitization, which is consolidated in our financial statements. The Securitization has issued securitized debt obligations that are non-recourse to us. Refer to Note 16 for further discussion of our Securitization.

The following table details our securitized debt obligations ($ in thousands):


	June 30, 2017
Securitized Debt Obligations	Count	Principal Balance		Book Value		Yield/Cost⁽¹⁾			Term⁽²⁾
Total loan	1	$	642,806	$	639,280		L+3.60	%		June 2023
Securitized debt obligations⁽³⁾	1		474,620		474,123		L+1.95	%		June 2033


(1)		In addition to cash coupon, yield/cost includes the amortization of deferred origination fees / financing costs.
(2)		Loan term represents final maturity, assuming all extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of the securitization.
(3)		During the three and six months ended June 30, 2017, we recorded $37,000 of interest expense related to our securitized debt obligations.

We did not have any securitized debt obligations as of December 31, 2016.