FAIR VALUE - Fair Value Information on Financial Instruments (Details) - USD ($)		Sep. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
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	[1]	1,044,080,754	1,001,825,294
Assets	[1]	1,128,666,950	1,048,923,353
Collateralized loan obligations	[1]	828,673,313	826,782,543
Secured Term Loan	[1]	46,908,234	46,845,502
Total liabilities	[1]	883,400,441	879,547,853
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		1,120,788,165	1,020,104,346
Total liabilities		875,581,547	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		48,485,316	14,749,046
Restricted cash		28,222,095	3,530,006
Carrying Value | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations		828,673,313	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		1,044,080,754	1,001,825,294
Secured Term Loan		46,908,234	46,845,502
Face Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		1,122,636,510	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		48,485,316	14,749,046
Restricted cash		28,222,095	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		1,045,929,099	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]
Assets		1,108,386,188	1,019,752,936
Total liabilities		847,345,379	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		48,485,316	14,749,046
Restricted cash		28,222,095	3,530,006
Fair Value | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations		804,239,125	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		1,031,678,777	1,001,473,884
Secured Term Loan		$ 43,106,254	$ 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 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.