XML 65 R55.htm IDEA: XBRL DOCUMENT v3.24.2.u1
LOANS (Summary of Loans) (Details)
Jun. 30, 2024
USD ($)
Loan
Note
Dec. 31, 2023
USD ($)
Loan
Note
Dec. 31, 2022
USD ($)
Receivables With Imputed Interest [Line Items]      
Amortized Cost, Loans held for investment $ 1,713,711,000 $ 1,857,093,000  
Less: allowance for credit losses $ (34,990,000) $ (28,757,000) $ (18,803,000)
Mezzanine loan      
Receivables With Imputed Interest [Line Items]      
Number of bank loans | Note 1 1  
Commercial Real Estate Loans      
Receivables With Imputed Interest [Line Items]      
Principal, Loans held for investment $ 1,717,687,000 $ 1,862,965,000  
Unamortized (Discount) Premium, net (3,976,000) (5,872,000)  
Amortized Cost, Loans held for investment 1,713,711,000 1,857,093,000  
Less: allowance for credit losses (34,990,000) (28,757,000)  
Carrying Value, Loans held for investment 1,678,721,000 1,828,336,000  
Loan origination fees 3,100,000 5,800,000  
Deferred amendment fees $ 902,000 $ 110,000  
Concentration of loan portfolio risk 100.00% 100.00%  
Commercial Real Estate Loans | Multifamily      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 1,333,273,000 $ 1,453,681,000  
Concentration of loan portfolio risk 79.40% 79.60%  
Commercial Real Estate Loans | Office      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 229,276,000 $ 247,410,000  
Concentration of loan portfolio risk 13.70% 13.50%  
Commercial Real Estate Loans | Hotel      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 67,541,000 $ 70,857,000  
Concentration of loan portfolio risk 4.00% 3.90%  
Commercial Real Estate Loans | Self Storage      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 48,631,000 $ 48,363,000  
Concentration of loan portfolio risk 2.90% 2.60%  
Commercial Real Estate Loans | Retail      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment   $ 8,025,000  
Concentration of loan portfolio risk 0.00% 0.40%  
Commercial Real Estate Loans | Southwest      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 464,051,000 $ 484,902,000  
Concentration of loan portfolio risk 27.60% 26.60%  
Commercial Real Estate Loans | Southeast      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 315,470,000 $ 401,624,000  
Concentration of loan portfolio risk 18.80% 22.00%  
Commercial Real Estate Loans | Mountain      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 275,437,000 $ 275,120,000  
Concentration of loan portfolio risk 16.40% 15.00%  
Commercial Real Estate Loans | Mid Atlantic      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 239,217,000 $ 236,104,000  
Concentration of loan portfolio risk 14.20% 12.90%  
Commercial Real Estate Loans | Pacific      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 165,358,000 $ 169,789,000  
Concentration of loan portfolio risk 9.90% 9.30%  
Commercial Real Estate Loans | Northeast      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 133,279,000 $ 161,172,000  
Concentration of loan portfolio risk 7.90% 8.80%  
Commercial Real Estate Loans | East North Central      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 46,220,000 $ 60,401,000  
Concentration of loan portfolio risk 2.80% 3.30%  
Commercial Real Estate Loans | West North Central      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 39,689,000 $ 39,224,000  
Concentration of loan portfolio risk 2.40% 2.10%  
Commercial Real Estate Loans | Whole Loans      
Receivables With Imputed Interest [Line Items]      
Principal, Loans held for investment $ 1,712,987,000 $ 1,858,265,000  
Unamortized (Discount) Premium, net (3,976,000) (5,872,000)  
Amortized Cost, Loans held for investment 1,709,011,000 1,852,393,000  
Less: allowance for credit losses (30,290,000) (24,057,000)  
Carrying Value, Loans held for investment $ 1,678,721,000 $ 1,828,336,000  
Quantity | Loan 63 69  
Loans receivable, interest rate floor 5.38% 5.39%  
Loans held for investment, unfunded loan commitments $ 89,100,000 $ 109,400,000  
Mezzanine tranche $ 2,100,000    
Fixed interest rate 15.00%    
Commercial Real Estate Loans | Whole Loans | Minimum      
Receivables With Imputed Interest [Line Items]      
Contractual Interest Rates 2.50% 2.50%  
Commercial Real Estate Loans | Whole Loans | Maximum      
Receivables With Imputed Interest [Line Items]      
Contractual Interest Rates 8.61% 8.61%  
Commercial Real Estate Loans | Mezzanine loan      
Receivables With Imputed Interest [Line Items]      
Principal, Loans held for investment $ 4,700,000 $ 4,700,000  
Amortized Cost, Loans held for investment 4,700,000 4,700,000  
Less: allowance for credit losses $ (4,700,000) $ (4,700,000)  
Quantity | Loan 1 1  
Contractual Interest Rates 10.00% 10.00%  
Loans receivable, interest rate floor 0.75% 0.70%  
Commercial Real Estate Loans | Whole Loans in Default      
Receivables With Imputed Interest [Line Items]      
Amortized Cost, Loans held for investment $ 14,400,000 $ 41,200,000  
Quantity | Loan 1 3  
Commercial Real Estate Loans | Whole Loans in Default | Office      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 14,400,000 $ 33,100,000  
Quantity | Loan 1 2  
Commercial Real Estate Loans | Whole Loans in Default | Retail      
Receivables With Imputed Interest [Line Items]      
Quantity | Loan 1 1  
Commercial Real Estate Loans | Whole Loans in Default | Southwest      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment $ 14,400,000 $ 19,100,000  
Quantity | Loan 1 1  
Commercial Real Estate Loans | Whole Loans in Default | Northeast      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment   $ 8,000,000  
Quantity | Loan   1  
Commercial Real Estate Loans | Whole Loans in Default | East North Central      
Receivables With Imputed Interest [Line Items]      
Carrying Value, Loans held for investment   $ 14,000,000  
Quantity | Loan 1    
Commercial Real Estate Loans | Mazzanine Loans In Payment Defaults      
Receivables With Imputed Interest [Line Items]      
Number of bank loans | Loan 1 1  
Recorded investment $ 4,700,000 $ 4,700,000