Subsequent Events	9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On October 6, 2021, the Company effected a 1-for-2 reverse stock split of its common stock. All references to common stock outstanding and per common stock share amounts have been restated to reflect the effect of the reverse stock split for all periods presented. On November 3, 2021, the Company completed an initial public offering of 5,524,934 shares of common stock at a price of $18.65 per share generating gross proceeds of $103.0 million. The Company intends to use the proceeds from the offering to originate and acquire commercial mortgage loans and other commercial real estate related debt instruments consistent with its investment strategy and investment guidelines, as well as for other general corporate purposes. Following the completion of the Company’s initial public offering, 1,097,293 shares of common stock underlying restricted stock units became fully vested. On November 12, 2021, the Company paid a catch-up dividend of $4.9 million to holders of the restricted stock units. In connection with the completion of the Company’s initial public offering, the annual right of a pre-IPO stockholder to require the Company to repurchase its shares was terminated, resulting in the reclassification of redeemable common stock to stockholder’s equity, and such shares being reclassified to common stock. In connection with the completion of the Company’s initial public offering, CMTG TT Participation’s right to participate in future investments was terminated. The Company entered into an agreement (the “10b5-1 Purchase Plan”) with Morgan & Stanley Co. LLC, pursuant to which Morgan Stanley & Co. LLC, as the Company’s agent, will buy in the open market up to $25.0 million in shares of the Company’s common stock in the aggregate during the period beginning on December 6, 2021 and ending 12 months thereafter or, if sooner, the date on which all the capital committed to the 10b5-1 Purchase Plan will require Morgan Stanley & Co. LLC to purchase for the Company shares of the Company’s common stock when the market price per share is below the book value per common share, subject to certain daily limits prescribed by the 10b5-1 Purchase Plan. On December 2, 2021, the Company entered into a refinancing of its Secured Term Loan which reduced the interest rate to the greater of (i) 1-month SOFR plus a 0.10% credit spread adjustment, and (ii) 0.50%, plus a credit spread of 4.50%

Subsequent Events

9 Months Ended

Sep. 30, 2021

15. Subsequent Events

On October 6, 2021, the Company effected a 1-for-2 reverse stock split of its common stock. All references to common stock outstanding and per common stock share amounts have been restated to reflect the effect of the reverse stock split for all periods presented.

On November 3, 2021, the Company completed an initial public offering of 5,524,934 shares of common stock at a price of $18.65 per share generating gross proceeds of $103.0 million. The Company intends to use the proceeds from the offering to originate and acquire commercial mortgage loans and other commercial real estate related debt instruments consistent with its investment strategy and investment guidelines, as well as for other general corporate purposes.

Following the completion of the Company’s initial public offering, 1,097,293 shares of common stock underlying restricted stock units became fully vested. On November 12, 2021, the Company paid a catch-up dividend of $4.9 million to holders of the restricted stock units.

In connection with the completion of the Company’s initial public offering, the annual right of a pre-IPO stockholder to require the Company to repurchase its shares was terminated, resulting in the reclassification of redeemable common stock to stockholder’s equity, and such shares being reclassified to common stock.

In connection with the completion of the Company’s initial public offering, CMTG TT Participation’s right to participate in future investments was terminated.

The Company entered into an agreement (the “10b5-1 Purchase Plan”) with Morgan & Stanley Co. LLC, pursuant to which Morgan Stanley & Co. LLC, as the Company’s agent, will buy in the open market up to $25.0 million in shares of the Company’s common stock in the aggregate during the period beginning on December 6, 2021 and ending 12 months thereafter or, if sooner, the date on which all the capital committed to the 10b5-1 Purchase Plan will require Morgan Stanley & Co. LLC to purchase for the Company shares of the Company’s common stock when the market price per share is below the book value per common share, subject to certain daily limits prescribed by the 10b5-1 Purchase Plan.

On December 2, 2021, the Company entered into a refinancing of its Secured Term Loan which reduced the interest rate to the greater of (i) 1-month SOFR plus a 0.10% credit spread adjustment, and (ii) 0.50%, plus a credit spread of 4.50%