XML 60 R38.htm IDEA: XBRL DOCUMENT v3.23.1
Commercial Mortgage Loans Held for Investment - Summary of Commercial Mortgage Loans held for Investment (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2022
USD ($)
Loan
Dec. 31, 2021
USD ($)
Loan
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Mortgage Loans On Real Estate [Line Items]        
Number of Loans | Loan 43 38    
Principal Balance $ 844,507 [1] $ 664,170    
Unamortized (fees)/costs, net 1,359 1,328    
Allowance for loan losses (3,588)      
Carrying Value $ 842,278 [1] $ 665,498 $ 441,814 $ 504,702
Weighted Average Coupon 7.80% 4.60%    
Weighted Average Years to Maturity 1 year 4 months 24 days 1 year 8 months 12 days    
First Mortgage Loans [Member]        
Mortgage Loans On Real Estate [Line Items]        
Number of Loans | Loan 41 36    
Principal Balance $ 831,007 $ 650,670    
Unamortized (fees)/costs, net 1,359 1,328    
Allowance for loan losses (3,588)      
Carrying Value $ 828,778 $ 651,998    
Weighted Average Coupon 7.70% 4.50%    
Weighted Average Years to Maturity 1 year 4 months 24 days 1 year 7 months 6 days    
Credit Loans [Member]        
Mortgage Loans On Real Estate [Line Items]        
Number of Loans | Loan 2 2    
Principal Balance $ 13,500 $ 13,500    
Carrying Value $ 13,500 $ 13,500    
Weighted Average Coupon 9.60% 9.60%    
Weighted Average Years to Maturity 3 years 4 months 24 days 4 years 4 months 24 days    
[1] Cash coupon is the stated rate on the loan. Our first mortgage loans are all floating rate and each contains a minimum LIBOR floor. As of December 31, 2022, the weighted average LIBOR and SOFR floor for these loans were 0.83% and 0.53%, respectively. An 80% undivided senior interest in each of loan numbers 1, 2, 3, 5, 7, 10 and 11, which includes the right to receive priority interest payments at a rate of L+2.00%, was sold by our Operating Partnership pursuant to a Loan Participation Agreement dated November 15, 2021. Our Operating Partnership has retained a 20% undivided subordinate interest in each of these loans