SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

30, 2018, the Company, announced that it acquired one hundred percent (100%) of the equity interests of Hunt CMT Equity, LLC, a Delaware limited liability company ("Hunt CMT") from Hunt Mortgage Group, LLC, an affiliate of our manager ("HMG") for an aggregate purchase price of $68.05 million (the "Hunt CMT Transaction").

Assets of Hunt CMT include junior retained notes and preferred shares of a commercial real estate collateralized loan obligation ("Hunt CMT CLO"), a licensed commercial mortgage lender and eight (8) loan participations. The assets of the Hunt CMT CLO consist of transitional floating rate commercial mortgage loans with a portfolio balance of $346.3 million as of March 31, 2018, collateralized by a diverse mix of property types, including multifamily, retail, office, mixed-use, industrial and student housing. As part of the Hunt CMT Transaction, the Company also acquired an entity ("Hunt CMT CLO Seller"), which holds $6.9 million of loan participations on eight loans held by the Hunt CMT CLO.