Condensed Consolidated Balance Sheets - USD ($)		Sep. 30, 2021		Dec. 31, 2020
ASSETS
Cash and cash equivalents	[1]	$ 44,080,327		$ 11,375,960
Restricted cash	[1]	148,066,240		57,999,396
Commercial mortgage loans held-for-investment, at amortized cost		803,074,256	[1]	547,345,334
Mortgage servicing rights, at fair value	[1]	619,012		919,678
Accrued interest receivable	[1]	3,082,676		2,015,617
Investment related receivable	[1]	48,890,010		0
Other assets	[1]	2,205,526		1,833,794
Total Assets	[1]	1,050,018,047		621,489,779
LIABILITIES:
Collateralized loan obligations, net	[1]	826,145,358		463,060,090
Secured term loan, net		46,805,417	[1]	39,556,198
Accrued interest payable	[1]	649,046		432,936
Dividends payable	[1]	3,246,601		3,242,640
Fees and expenses payable to Manager	[1]	1,628,539		1,156,340
Other accounts payable and accrued expenses	[1]	2,381,544		338,423
Total Liabilities	[1]	880,856,505		507,786,627
Commitments and contingencies	[1]
EQUITY:
Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized; 7.875% Series A Cumulative Redeemable, $60,000,000 aggregate liquidation preference, 2,400,000 and 0 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	[1]	57,258,435		0
Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 24,947,883 and 24,943,383 shares issued and outstanding, at September 30, 2021 and December 31, 2020, respectively	[1]	249,434		249,389
Additional paid-in capital	[1]	233,849,892		233,850,271
Cumulative distributions to stockholders	[1]	(140,019,042)		(131,355,978)
Accumulated earnings	[1]	17,723,323		10,859,970
Total stockholders' equity	[1]	169,062,042		113,603,652
Noncontrolling interests	[1]	99,500		99,500
Total equity	[1]	169,161,542		113,703,152
Total liabilities and equity	[1]	$ 1,050,018,047		$ 621,489,779

[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 September 30, 2021 and December 31, 2020, assets of consolidated VIEs totaled $1,003,113,182 and $591,318,506, respectively and the liabilities of consolidated VIEs totaled $826,707,857 and $463,411,967 respectively. See Note 4 for further discussion.