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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2022
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Mortgage Loans on Real Estate
Schedule IV – Mortgage Loans on Real Estate
As of December 31, 2022
Type of Loan/Borrower
Senior Mortgage Loans(1)
Description/Location
Interest(2)
Payment Rates
Extended Maturity Date(3)
Periodic Payment Terms(4)
Prior Liens(5)
Unpaid Principal BalanceCarrying Amount of Loans
Senior Loans in excess of 3% of the carrying amount of total loans
Borrower AMultifamily /FL
L+3.05%
2027I/O$— $51,375,000 $51,375,000 
Borrower BMultifamily /VA
L+3.27%
2024I/O— 36,781,588 36,781,588 
Borrower CMultifamily / NJ
L+3.05%
2026I/O— 34,690,000 34,690,000 
Borrower DMultifamily / GA
L+3.00%
2024I/O— 33,500,000 33,500,000 
Borrower EMultifamily / TN
L+3.65%
2026I/O— 33,360,000 33,360,000 
Senior Loans less than 3% of the carrying amount of total loans
Senior LoanMultifamily / Diversified
L+2.90% - 3.95%
2024 - 2027I/O$— $635,190,012 $635,190,012 
Senior LoanMultifamily / Diversified
S+3.25% - 4.15%
2025 - 2027I/O— 135,388,390 135,326,238 
Senior LoanHealthcare/ Diversified
S+4.00%
2026I/O— 70,000,000 69,325,986 
Senior LoanSelf-Storage / WA
L+3.60%
2024I/O— 19,648,818 19,668,071 
Senior LoanRetail / TX
L+4.60%
2023I/O$— $16,672,623 $16,672,623 
Senior LoanOffice / IL
L+3.75%
2023I/O$— $10,258,668 $6,000,000 
Total senior loans$— $1,076,865,099 $1,071,889,518 
(1)Includes senior mortgage loans and pari passu participations in senior mortgage loans.
(2)L = one-month LIBOR rate
(3)Extended maturity date assumes all extension options are exercised
(4)I/O = interest only
(5)Represents only third party liens
 
1.Reconciliation of Mortgage Loans on Real Estate

The following table reconciles activity regarding mortgage loans on real estate for the years ended:
20222021
Balance at January 1,$1,001,825,294 $547,345,334 
Additions during period:
Mortgage loans purchased345,158,577 983,694,326 
Deductions during period
Mortgage loan repayments(270,926,723)(528,802,705)
Accretion of purchase discount125,098 46,088 
Amortization of purchase premium(61,144)(457,749)
Accretion of deferred loan fees27,084 — 
Provision for loan losses(4,258,668)— 
Balance at December 31, $1,071,889,518 $1,001,825,294