CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
ASSETS:
Cash and cash equivalents	$ 42,747	$ 56,713
Restricted cash	2,103	890
Accrued interest receivable	19,093	14,655
CRE loans	1,391,998	1,487,392
Less: allowance for credit losses	(30,350)	(32,847)
CRE loans, net	1,361,648	1,454,545
Loan receivable - due from Manager	$ 10,550	$ 10,675
Other Receivable, after Allowance for Credit Loss, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Loan held for sale	$ 45,800	$ 11,100
Investments in unconsolidated entities	25,254	21,857
Properties held for sale	201,166	201,125
Investments in real estate	77,511	76,608
Right of use assets	19,694	19,911
Intangible assets	6,664	6,988
Other assets	6,078	6,400
Total assets	1,818,308	1,881,467
LIABILITIES
Accounts payable and other liabilities	14,203	11,817
Management fee payable - related party	$ 531	$ 540
Other Liability, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Accrued interest payable	$ 6,574	$ 6,958
Borrowings	1,309,296	1,360,371
Lease liabilities	45,575	45,259
Distributions payable	3,545	3,607
Accrued tax liability	7	27
Liabilities held for sale	3,175	3,226
Total liabilities	1,382,906	1,431,805
EQUITY
Common stock, par value $0.001: 41,666,666 shares authorized; 7,142,255 and 7,634,004 shares issued and outstanding (including 328,586 and 574,538 unvested restricted shares)	7	8
Additional paid-in capital	1,154,533	1,162,581
Accumulated other comprehensive loss	(2,413)	(3,203)
Distributions in excess of earnings	(726,858)	(720,268)
Total stockholders’ equity	425,279	439,128
Non-controlling interests	10,123	10,534
Total equity	435,402	449,662
TOTAL LIABILITIES AND EQUITY	1,818,308	1,881,467
8.625% Series C Preferred Stock
EQUITY
Preferred stock, value	5	5
7.875% Series D Preferred Stock
EQUITY
Preferred stock, value	$ 5	$ 5