Asset-Specific Debt Agreements, Net

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Asset-Specific Debt Agreements, Net

7. ASSET-SPECIFIC DEBT AGREEMENTS, NET

The following tables detail our asset-specific debt agreements ($ in thousands):

	March 31, 2021
Asset-Specific Debt Agreements	Count	Principal Balance		Book Value		Wtd. Avg. Yield/Cost(1)			Wtd. Avg. Term(2)
Collateral assets	4	$	566,170	$	552,989		L+4.62	%		Dec. 2023
Financing provided	4	$	438,433	$	430,448		L+3.43	%		Dec. 2023

	December 31, 2020
Asset-Specific Debt Agreements	Count	Principal Balance		Book Value		Wtd. Avg. Yield/Cost(1)			Wtd. Avg. Term(2)
Collateral assets	4	$	512,794	$	499,085		L+4.65	%		Oct. 2023
Financing provided	4	$	399,699	$	391,269		L+3.48	%		Oct. 2023

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(1)	These floating rate loans and related liabilities are indexed to the various benchmark rates relevant in each arrangement in terms of currency and payment frequency. Therefore the net exposure to each benchmark rate is in direct proportion to our net assets indexed to that rate. In addition to cash coupon, yield/cost includes the amortization of deferred origination fees / financing costs.
(2)	The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all extension options are exercised by the borrower. Each of our asset-specific debt agreements is term-matched to the corresponding collateral loans.