Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		81 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (18,361)	$ (7,576)	$ 2,931	$ 2,302	$ (25,937)	$ 5,233
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization, net					30,056	10,054
Gain on sale of real estate	0		0		(1,104)	0
Amortization of deferred debt origination costs					1,025	580
Amortization of premiums and discounts on debt					18	13
Unrealized premium adjustment					520	1,095
Amortization of deferred costs and accretion of fees on loans receivable, net					(195)	(294)
Write-offs of uncollectible receivables					(136)	39
Gain on interest rate caps					(275)	0
Deferred income taxes					31	47
Stock-based compensation					92	92
Loss (income) from unconsolidated entities	904		(260)		136	(380)
Loans funded, held for sale to secondary market					(13,359)	(18,426)
Proceeds from sale of guaranteed loans					12,722	23,638
Principal collected on loans subject to secured borrowings					708	441
Commitment fees remitted and other operating activity					(245)	(839)
Changes in operating assets and liabilities:
Accounts receivable					(848)	15
Other assets					(4,491)	(1,174)
Accounts payable and accrued expenses					13,152	(180)
Deferred leasing costs					(435)	(748)
Other liabilities					(3,585)	3,610
Due to related parties					1,570	2,472
Net cash provided by operating activities					9,420	25,288
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures					(6,455)	(4,601)
Acquisition of real estate					(96,731)	(8,115)
Proceeds from sale of real estate, net					30,613	0
Investment in unconsolidated entity					(6,680)	(22,408)
Loans funded					(4,769)	(12,256)
Principal collected on loans					6,333	11,634
Net cash used in investing activities					(77,689)	(35,746)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of revolving credit facilities, mortgages payable, term notes and principal on SBA 7(a) loan-backed notes					(151,162)	(33,481)
Proceeds from revolving credit facilities, term notes and mortgages					222,415	40,000
Proceeds from the issuance of SBA 7(a) loan-backed notes					54,141	0
Payment of principal on secured borrowings					(708)	(441)
Payment of deferred preferred stock offering costs					(501)	(408)
Payment of deferred debt origination costs					(3,167)	0
Payment of common dividends					(3,866)	(3,739)
Repurchase of Common Stock					0	(303)
Net proceeds from issuance of Preferred Stock					51,024	20,246
Payment of preferred stock dividends					(15,713)	(14,038)
Redemption of Preferred Stock					(93,330)	(3,343)
Noncontrolling interests’ distributions					0	(3)
Noncontrolling interests’ contributions					0	5
Net cash provided by financing activities					59,133	4,495
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH					(9,136)	(5,963)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period		$ 57,480		$ 33,651	57,480	33,651
End of period	48,344		27,688		48,344	27,688	$ 48,344
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	24,561		16,480		24,561	16,480	24,561	$ 46,190
Restricted cash	23,783		11,208		23,783	11,208	23,783	11,290
Total cash and cash equivalents and restricted cash	48,344		27,688		48,344	27,688	48,344	$ 57,480
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest					13,032	3,789
Federal income taxes paid					500	555
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Accrued capital expenditures, tenant improvements and real estate developments					3,813	2,477
Proceeds from the sale of real estate committed but not yet received					3,787	0
Other amounts due from unconsolidated joint venture partners included in other assets					1,445	0
Non-cash contributions to unconsolidated joint venture					8,600	0
Accrued preferred stock offering costs					134	392
Accrual of dividends payable to common stockholders	1,933		0		1,933	0	1,933
Accrual of dividends payable to preferred stockholders					2,088	3,984
Preferred stock offering costs offset against redeemable preferred stock					842	296
Reclassification of Series A Preferred Stock from temporary equity to permanent equity					15,616	17,335	$ 199,600
Reclassification of Series A Preferred Stock from permanent equity to accounts payable and accrued expenses					328	0
Mortgage notes assumed in connection with our acquisition of real estate					181,318	0
Redeemable preferred stock deemed dividends	$ 0		$ 4		0	19
Accrued redeemable preferred stock fees					369	563
Adjustment to noncontrolling interests					$ 5,002	$ 0