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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and cash equivalents $ 27,530 $ 1,311
Restricted cash 967 95
Real estate securities at fair value 91,218 25,993
Commercial mortgage loans at cost, net of allowance for loan loss of $0 249,573 32,094
Deferred debt finance costs 518  
Deferred offering costs 1,201 1,503
Accrued interest receivable 994 142
Prepaid expenses and other assets 22 4
Total assets 372,023 61,142
Liabilities:    
Loan fees payable 100 40
Due to related parties 1,680 1,512
Interest payable 427 24
Distributions payable 941 258
Accrued expenses 399 210
Total liabilities 229,751 19,157
Stockholders’ Equity:    
Class P common stock, $0.001 par value, 450,000,000 shares authorized, 5,940,744 and 1,733,392 shares issued and outstanding as of December 31, 2018 and 2017, respectively 6 2
Additional paid in capital (net of offering costs of $11,724 and $2,918 as of December 31, 2018 and 2017, respectively) 148,650 43,428
Distributions in excess of earnings (6,384) (1,445)
Total stockholders’ equity 142,272 41,985
Total liabilities and stockholders’ equity 372,023 61,142
Real Estate Securities    
Liabilities:    
Repurchase agreements 61,871 17,113
Interest payable 128 $ 24
Commercial Mortgage Loans    
Liabilities:    
Repurchase agreements $ 164,333