Consolidated Balance Sheets - USD ($)		Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	[1]	$ 48,485,316	$ 14,749,046
Restricted cash	[1]	28,222,095	3,530,006
Commercial mortgage loans held-for-investment, at amortized cost	[1]	1,045,953,691	1,001,825,294
Allowance for loan losses	[1]	(1,872,937)	0
Commercial mortgage loans held-for-investment, net of allowance for loan losses	[1]	1,044,080,754	1,001,825,294
Mortgage servicing rights, at fair value	[1]	817,907	551,997
Accrued interest receivable	[1]	4,259,025	3,977,752
Investment related receivable	[1]	601,972	22,400,000
Other assets	[1]	2,199,881	1,889,258
Total assets	[1]	1,128,666,950	1,048,923,353
LIABILITIES:
Collateralized loan obligations, net	[1]	828,673,313	826,782,543
Secured term loan, net	[1]	46,908,234	46,845,502
Accrued interest payable	[1]	1,662,145	704,055
Dividends payable	[1]	4,135,161	3,242,809
Fees and expenses payable to Manager	[1]	1,648,799	1,825,142
Other accounts payable and accrued expenses	[1]	372,789	147,802
Total liabilities	[1]	883,400,441	879,547,853
COMMITMENTS AND CONTINGENCIES (NOTES 10 & 11)	[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 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	[1]	57,254,935	57,254,935
Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 52,231,152 and 24,947,883 shares issued and outstanding, at September 30, 2022 and December 31, 2021, respectively	[1]	522,252	249,434
Additional paid-in capital	[1]	314,609,303	233,833,749
Cumulative distributions to stockholders	[1]	(156,405,599)	(143,449,310)
Accumulated earnings	[1]	29,186,118	21,387,192
Total stockholders' equity	[1]	245,167,009	169,276,000
Noncontrolling interests	[1]	99,500	99,500
Total equity	[1]	245,266,509	169,375,500
Total liabilities and equity	[1]	$ 1,128,666,950	$ 1,048,923,353

[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, 2022 and December 31, 2021, assets of consolidated VIEs totaled $1,004,040,687 and $1,003,896,995, respectively and the liabilities of consolidated VIEs totaled $830,248,911 and $827,390,435 respectively. See Note 4 for further discussion.