Condensed Consolidated Balance Sheets - USD ($)		Mar. 31, 2020		Dec. 31, 2019
ASSETS
Cash and cash equivalents	[1]	$ 11,334,317		$ 10,942,115
Restricted cash	[1]	6,914,097		5,069,715
Commercial mortgage loans held-for-investment, at amortized cost		639,366,297	[1]	635,260,420
Mortgage servicing rights, at fair value	[1]	1,822,458		2,700,207
Deferred offering costs	[1]	26,667		40,000
Accrued interest receivable	[1]	2,423,758		2,342,354
Other assets	[1]	2,129,619		1,547,187
Total Assets	[1]	664,017,213		657,901,998
LIABILITIES:
Collateralized loan obligations, net	[1]	506,416,518		505,930,065
Secured Term Loan, net	[1]	39,426,846		39,384,041
Accrued interest payable	[1]	564,106		805,126
Dividends payable	[1]	1,874,166		1,776,912
Fees and expenses payable to Manager	[1]	1,013,000		991,981
Other accounts payable and accrued expenses	[1]	658,436		369,161
Total Liabilities	[1]	549,953,072		549,257,286
Commitments and contingencies	[1]
EQUITY:
Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 24,938,883 and 23,692,164 shares issued and outstanding, at March 31, 2020 and December 31, 2019, respectively	[1]	249,344		236,877
Additional paid-in capital	[1]	233,864,573		228,135,116
Cumulative distributions to stockholders	[1]	(124,111,147)		(122,236,981)
Accumulated earnings	[1]	3,961,871		2,410,200
Total stockholders' equity	[1]	113,964,641		108,545,212
Noncontrolling interests	[1]	99,500		99,500
Total equity	[1]	114,064,141		108,644,712
Total liabilities and equity	[1]	$ 664,017,213		$ 657,901,998

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of March 31, 2020 and December 31, 2019, assets of consolidated VIEs related to Hunt CRE 2017-F1, Ltd. and Hunt CRE 2018-FL2, Ltd. totaled 636,607,029 and $636,541,489, respectively and the liabilities of consolidated VIEs related to Hunt CRE 2017-FL1, Ltd. and Hunt CRE 2018-FL2, Ltd totaled 506,907,671 and $506,662,238 respectively. See Note 5 for further discussion.