FAIR VALUE - Fair Value Information on Financial Instruments (Details) - USD ($)		Sep. 30, 2021		Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	$ 44,080,327		$ 11,375,960
Restricted cash	[1]	148,066,240		57,999,396
Total Assets	[1]	1,050,018,047		621,489,779
Collateralized loan obligations	[1]	826,145,358		463,060,090
Secured Term Loan		46,805,417	[1]	39,556,198
Total Liabilities	[1]	880,856,505		507,786,627
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment	[1]			547,345,334
Total Assets		995,220,823		616,720,690
Collateralized loan obligations				463,060,090
Total Liabilities		872,950,775		502,616,288
Carrying Value | Quoted prices in active markets for identical assets Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents		44,080,327
Restricted cash		148,066,240		57,999,396
Carrying Value | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations		826,145,358		463,060,090
Carrying Value | Unobservable inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment		803,074,256		547,345,334
Secured Term Loan		46,805,417		39,556,198	[1]
Face Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents				11,375,960
Restricted cash				57,999,396
Commercial mortgage loans held-for-investment				547,345,334
Total Assets		995,190,317		616,720,690
Collateralized loan obligations				465,316,126
Secured Term Loan				40,250,000
Total Liabilities		881,500,000		505,566,126
Face Amount | Quoted prices in active markets for identical assets Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents		44,080,327		11,375,960
Restricted cash		148,066,240		57,999,396
Face Amount | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations		833,750,000		465,316,126
Face Amount | Unobservable inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment		803,043,750		547,345,334
Secured Term Loan		47,750,000		40,250,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents				11,375,960
Restricted cash				57,999,396
Commercial mortgage loans held-for-investment				547,134,755
Total Assets		995,170,413		616,510,111
Collateralized loan obligations				458,094,412
Secured Term Loan				44,514,373
Total Liabilities		889,397,862		502,608,785
Fair Value | Quoted prices in active markets for identical assets Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents		44,080,327		11,375,960
Restricted cash		148,066,240		57,999,396
Fair Value | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations		837,431,250		458,094,412
Fair Value | Unobservable inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment		803,023,846		547,134,755
Secured Term Loan		$ 51,966,612		$ 44,514,373

[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.