Other Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Other Assets And Liabilities Disclosure [Abstract]

Summary of Components of Other Assets

The following table details the components of our other assets ($ in thousands):

	March 31, 2025	December 31, 2024
Accrued interest receivable	$146,587	$160,131
Real estate intangible assets, net	81,381	77,289
Collateral deposited under derivative agreements	69,640	4,810
Other real estate assets	15,072	9,338
Accounts receivable and other assets(1)	11,326	134,030
Derivative assets	4,987	72,454
Loan portfolio payments held by servicer(2)	1,886	113,199
Prepaid expenses	1,046	1,002
Total	$331,925	$572,253

(1)December 31, 2024 balance includes $95.5 million of cash collateral held by our CLOs that was subsequently

remitted by the trustee to repay a portion of the outstanding senior CLO securities.

(2)Primarily represents loan principal held by our third-party loan servicer as of the balance sheet date that were

remitted to us during the subsequent remittance cycle.

Summary of Components of Other Liabilities

The following table details the components of our other liabilities ($ in thousands):

	March 31, 2025	December 31, 2024
Other real estate liabilities	$85,363	$72,018
Accrued dividends payable	80,644	81,214
Derivative liabilities	68,158	5,238
Accrued interest payable	65,294	77,855
Accrued management and incentive fees payable	17,235	18,534
Accounts payable and other liabilities	12,787	13,834
Current expected credit loss reserves for unfunded loan commitments(1)	10,487	10,412
Secured debt repayments pending servicer remittance(2)	1,309	3,742
Total	$341,277	$282,847

(1)Represents the CECL reserve related to our unfunded loan commitments. See Note 2 for further discussion of the

CECL reserves.

(2)Represents pending transfers from our third-party loan servicer that were remitted to our banking counterparties

during the subsequent remittance cycle.