v3.25.4
Subsequent Events - Schedule of Commercial Mortgage Loan Originated (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Subsequent Event [Line Items]    
Principal Balance [2] $ 350,675 [1] $ 562,683
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember  
[1] Cash coupon is the stated rate on the loan. Our first mortgage loans are all floating rate and each contains a minimum SOFR floor. As of December 31, 2025, the weighted average SOFR floor for these loans was 0.31%. An 80% undivided senior interest in First Mortgage Loan 1, which includes the right to receive priority interest payments at a rate of SOFR+2.00%, was sold by our Operating Partnership pursuant to a Loan Participation Agreement dated November 15, 2021. Our Operating Partnership has retained a 20% undivided subordinate interest in the loan.
[2] First mortgage loans are first position mortgage loans and credit loans are mezzanine and subordinated loans.