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USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Narrative (Details)
Jul. 12, 2023
USD ($)
Jun. 14, 2021
USD ($)
tranche
subsidiary
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Variable Interest Entity [Line Items]        
Number of newly formed subsidiaries | subsidiary   2    
Equity interest retained   $ 96,250,000    
Proceeds from issuance of long-term debt allocated to acquire additional loan obligations   $ 330,300,000    
Period to acquire additional loan obligations from closing date   180 days    
Collateralized loan obligation leverage ratio (as a percent)   0.83    
Secured​ Overnight ​Financing​ Rate        
Variable Interest Entity [Line Items]        
Initial weighted average spread 3.14%      
Period of initial weighted average spread 30 days      
Commercial Real Estate Portfolio Segment        
Variable Interest Entity [Line Items]        
Face amount of debt     $ 1,397,385,160 $ 1,076,865,099
LMF 2023-1 Financing | Internal Investment Grade        
Variable Interest Entity [Line Items]        
Face amount of debt $ 47,300,000      
LMF 2023-1 Financing | Internal Investment Grade | Private Placement        
Variable Interest Entity [Line Items]        
Face amount of debt 270,400,000      
LMF 2023-1 Financing | Multi-family | Commercial Real Estate Portfolio Segment | Internal Investment Grade        
Variable Interest Entity [Line Items]        
Face amount of debt 386,400,000      
Lument Finance Trust        
Variable Interest Entity [Line Items]        
Subordinated interest retained $ 68,600,000      
Financing initial reinvestment period 2 years      
Collateralized Loan Obligations - LFT CRE 2021-FL1, Ltd.        
Variable Interest Entity [Line Items]        
Debt instrument, number of tranches | tranche   8    
Debt instrument, face amount   $ 903,800,000    
Initial investment period   2 years 6 months    
Proceeds from issuance of collateralized loan obligations   $ 1,000,000,000    
Collateralized Loan Obligations - LFT CRE 2021-FL1, Ltd. - Investment Grade        
Variable Interest Entity [Line Items]        
Debt instrument, face amount   833,800,000    
Collateralized Loan Obligations - LFT CRE 2021-FL1, Ltd. - Below Investment Grade        
Variable Interest Entity [Line Items]        
Debt instrument, face amount   $ 70,000,000