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FAIR VALUE - Fair Value Information on Financial Instruments (Details) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents [1] $ 45,846,521 $ 14,749,046
Restricted cash [1] 1,342,733 3,530,006
Total Assets [1] 1,129,857,776 1,048,923,353
Collateralized loan obligations [1] 827,405,880 826,782,543
Secured Term Loan [1] 46,783,300 46,845,502
Total Liabilities [1] 880,776,933 879,547,853
Carrying Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total Assets 1,124,705,573 1,020,104,346
Total Liabilities 874,189,180 873,628,045
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 45,846,521 14,749,046
Restricted cash 1,342,733 3,530,006
Carrying Value | Significant other observable inputs Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Collateralized loan obligations 827,405,880 826,782,543
Carrying Value | Unobservable inputs Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commercial mortgage loans held-for-investment 1,077,516,319 1,001,825,294
Secured Term Loan 46,783,300 46,845,502
Face Amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total Assets 1,124,695,051 1,020,149,046
Total Liabilities 881,500,000 881,500,000
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 45,846,521 14,749,046
Restricted cash 1,342,733 3,530,006
Face Amount | Significant other observable inputs Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Collateralized loan obligations 833,750,000 833,750,000
Face Amount | Unobservable inputs Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commercial mortgage loans held-for-investment 1,077,505,797 1,001,869,994
Secured Term Loan 47,750,000 47,750,000
Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total Assets 1,121,701,129 1,019,752,936
Total Liabilities 872,418,864 885,411,779
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 45,846,521 14,749,046
Restricted cash 1,342,733 3,530,006
Fair Value | Significant other observable inputs Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Collateralized loan obligations 824,334,875 834,425,625
Fair Value | Unobservable inputs Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commercial mortgage loans held-for-investment 1,074,511,875 1,001,473,884
Secured Term Loan $ 48,083,989 $ 50,986,154
[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, 2022 and December 31, 2021, assets of consolidated VIEs totaled $1,002,685,982 and $1,003,896,995, respectively and the liabilities of consolidated VIEs totaled $828,126,768 and $827,390,435 respectively. See Note 4 for further discussion.