| Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments |
The following table details the carrying amount and estimated fair value of the Company’s financial instruments at the dates below:
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|
|
|
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|
|
|
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|
March 31, 2026 |
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December 31, 2025 |
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|
Carrying
Amount |
|
|
Estimated Fair
Value |
|
|
Carrying
Amount |
|
|
Estimated Fair
Value |
|
Financial assets |
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|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash |
$ |
82,627 |
|
|
$ |
82,627 |
|
|
$ |
79,106 |
|
|
$ |
79,106 |
|
Commercial mortgage loans, net |
|
328,804 |
|
|
|
328,804 |
|
|
|
347,893 |
|
|
|
347,893 |
|
Total |
$ |
411,431 |
|
|
$ |
411,431 |
|
|
$ |
426,999 |
|
|
$ |
426,999 |
|
Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
Repurchase agreements — commercial mortgage
loans |
$ |
215,074 |
|
|
$ |
215,074 |
|
|
$ |
223,397 |
|
|
$ |
223,397 |
|
Loan participations — sold |
|
47,715 |
|
|
|
47,715 |
|
|
|
47,009 |
|
|
|
47,009 |
|
Mortgage loan payable, net |
|
23,978 |
|
|
|
24,496 |
|
|
|
23,891 |
|
|
|
24,454 |
|
Total |
$ |
286,767 |
|
|
$ |
287,285 |
|
|
$ |
294,297 |
|
|
$ |
294,860 |
|
|