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Loan Participations Sold, Net - Summary of Loan Participations Sold (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2023
USD ($)
Loan
Dec. 31, 2022
USD ($)
Loan
Loan Participations    
Mortgage Loans On Real Estate [Line Items]    
Number of loans sold to third party | Loan 4 7
Principal Balance $ 71,532 $ 124,275
Book Value $ 65,435 $ 121,431
Weighted Average Interest Rate [1] 3.50% 3.70%
Weighted Average Maximum Maturity 1 month 9 days [2] 1 year 2 months 19 days
Senior Loan Participations    
Mortgage Loans On Real Estate [Line Items]    
Number of loans sold to third party | Loan [3] 4 7
Principal Balance [3] $ 57,226 $ 99,420
Book Value [3] $ 57,226 $ 99,420
Weighted Average Interest Rate [1],[3] 2.00% 2.00%
Weighted Average Maximum Maturity [3] 1 month 9 days [2] 1 year 2 months 19 days
[1]

(1) The yield/cost is the present value of all future principal and interest payments on the loan or participation interest and does not include any origination fees or deferred commitment fees. The yield/cost excludes maturity default interest and interest on loans placed on nonaccrual status.

[2]

(4) Based on the furthest maximum maturity date of all the loans subject to the participation agreement.

[3]

(3) During the years ended December 31, 2023 and 2022, the Company recorded $4,914 and $3,952 of interest expense related to loan participations sold.