Loan Participations Sold, Net (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Loan Participations Sold | The following tables detail the Company’s loan participations sold as of March 31, 2026 and December 31, 2025:
(1) The yield/cost is the present value of all future principal and interest payments on the loan or participation interest and does not include any origination fees or deferred commitment fees. The yield/cost excludes maturity default interest and interest on loans placed on nonaccrual status. (2) As of March 31, 2026 and December 31, 2025, the loan participations sold were non-recourse to the Company. (3) During the three months ended March 31, 2026 and 2025, the Company recorded $739 and $764 of related to loan participations sold, respectively. (4) Based on the furthest maximum maturity date of all the loans subject to the participation agreement. The calculation is not applicable as of March 31, 2026 as the underlying loan is in maturity default. (5)
Includes participation interest related to the foreclosed properties described above. |
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