Other Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2025

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


	June 30, 2025	December 31, 2024
Accrued interest receivable	$169,849	$160,131
Loan portfolio payments held by servicer(1)	94,322	113,199
Collateral deposited under derivative agreements	86,420	4,810
Real estate intangible assets, net	71,124	77,289
Accounts receivable and other assets(2)	57,725	134,030
Other real estate assets	15,492	9,338
Derivative assets	12,267	72,454
Prepaid expenses	635	1,002
Total	$507,834	$572,253

(1)Primarily represents loan principal repayments held by our third-party loan servicers as of the balance sheet date that

were remitted to us during the subsequent remittance cycle.

(2)Includes $46.6 million and $95.5 million as of June 30, 2025 and December 31, 2024, respectively, of cash collateral

held by our CLOs that was subsequently remitted by the trustee to repay a portion of the outstanding senior CLO

securities.

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


	June 30, 2025	December 31, 2024
Derivative liabilities	$95,700	$5,238
Other real estate liabilities	80,818	72,018
Accrued dividends payable	80,649	81,214
Accrued interest payable	80,024	77,855
Debt repayments pending servicer remittance(1)	48,902	3,742
Accrued management and incentive fees payable	17,036	18,534
Accounts payable and other liabilities	16,816	13,834
Current expected credit loss reserves for unfunded loan commitments(2)	11,713	10,412
Total	$431,658	$282,847

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

CLO trustee during the subsequent remittance cycle.

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

CECL reserves.