SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16 — SUBSEQUENT EVENTS Redemption of Shares of Common Stock Subsequent to September 30, 2025, the Company redeemed approximately 1.5 million shares for $7.8 million (at an average redemption price of $5.22 per share). The remaining redemption requests received during the three months ended September 30, 2025 totaling approximately 44.4 million shares went unfulfilled. Investment, Acquisition and Disposition Activity Subsequent to September 30, 2025, the Company’s investment, acquisition and disposition activity included the following: •Acquired one property for a purchase price of $2.4 million. The Company has not completed its initial purchase price allocation with respect to this property and therefore cannot provide similar disclosures to those included in Note 4 — Real Estate Assets in these condensed consolidated financial statements. •Disposed of one condominium unit for a gross sales price of $5.9 million, resulting in net proceeds of $5.5 million after closing costs and a gain of approximately $224,000. •Settled $22.1 million on the purchase of three CMBS, $7.1 million of which were traded as of September 30, 2025, and received full payoffs of $86.3 million on three of the Company’s CMBS. •Disposed of two nonaccrual liquid corporate senior loans, resulting in proceeds of $395,000 and a loss of approximately $2.1 million. •Originated two first mortgage loans with an aggregate principal balance of $158.7 million, funded an aggregate amount of $4.0 million to seven of the Company’s first mortgage loans, received $2.0 million of principal repayments on one of the Company’s first mortgage loans, and a full payoff of $47.5 million on one of the Company’s first mortgage loans. Financing Activity •Repaid $98.7 million of borrowings under the repurchase facilities with J.P. Morgan and Citibank, both of which are held through CLR. •Borrowed $101.8 million under the repurchase facilities with J.P. Morgan and Wells Fargo, both of which are held through CLR. •Extended the maturity date of the repurchase facility with Deutsche Bank from October 2025 to October 2026.

Subsequent to September 30, 2025, the Company redeemed approximately 1.5 million shares for $7.8 million (at an average redemption price of $5.22 per share). The remaining redemption requests received during the three months ended September 30, 2025 totaling approximately 44.4 million shares went unfulfilled.

Subsequent to September 30, 2025, the Company’s investment, acquisition and disposition activity included the following:

•Acquired one property for a purchase price of $2.4 million. The Company has not completed its initial purchase price allocation with respect to this property and therefore cannot provide similar disclosures to those included in Note 4 — Real Estate Assets in these condensed consolidated financial statements.

•Disposed of one condominium unit for a gross sales price of $5.9 million, resulting in net proceeds of $5.5 million after closing costs and a gain of approximately $224,000.

•Settled $22.1 million on the purchase of three CMBS, $7.1 million of which were traded as of September 30, 2025, and received full payoffs of $86.3 million on three of the Company’s CMBS.

•Disposed of two nonaccrual liquid corporate senior loans, resulting in proceeds of $395,000 and a loss of approximately $2.1 million.

•Originated two first mortgage loans with an aggregate principal balance of $158.7 million, funded an aggregate amount of $4.0 million to seven of the Company’s first mortgage loans, received $2.0 million of principal repayments on one of the Company’s first mortgage loans, and a full payoff of $47.5 million on one of the Company’s first mortgage loans.

•Repaid $98.7 million of borrowings under the repurchase facilities with J.P. Morgan and Citibank, both of which are held through CLR.

•Borrowed $101.8 million under the repurchase facilities with J.P. Morgan and Wells Fargo, both of which are held through CLR.

•Extended the maturity date of the repurchase facility with Deutsche Bank from October 2025 to October 2026.