| Schedule of Financial Information of The Unconsolidated Joint Venture |
The following tables provide summarized financial information of the Unconsolidated Joint Venture for the periods set forth below (in thousands): | | | | | | | | | | | | | | | | | | | | September 30, 2025 | | December 31, 2024 | Assets: | | | | | Real estate investments - at fair value | | $ | 96,738 | | | $ | 40,796 | | Loans held-for-investment - at fair value, net of deferred fees | | $ | 887,805 | | | $ | 1,093,202 | | Total assets | | $ | 1,087,441 | | | $ | 1,186,794 | | | | | | | Liabilities and equity: | | | | | Repurchase facilities and securitized debt, net of deferred fees | | $ | 731,629 | | | $ | 777,239 | | Total liabilities | | $ | 736,802 | | | $ | 798,626 | | Total equity | | $ | 350,639 | | | $ | 388,168 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2025 | | 2024 | | 2025 | | 2024 | Total revenues | | $ | 23,367 | | | $ | 25,037 | | | $ | 71,751 | | | $ | 70,250 | | Total expenses | | 15,139 | | | 17,545 | | | 48,332 | | | 48,448 | | Total other (expense) income | | (90) | | | 2,485 | | | (6,907) | | | (401) | | Net income | | $ | 8,138 | | | $ | 9,977 | | | $ | 16,512 | | | $ | 21,401 | |
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