Consolidated Balance Sheets - USD ($)		Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	[1]	$ 43,858,515	$ 14,749,046
Restricted cash	[1]	3,507,850	3,530,006
Commercial mortgage loans held-for-investment, at amortized cost	[1]	1,076,148,186	1,001,825,294
Allowance for loan losses		(4,258,668)	0
Commercial mortgage loans held-for-investment, at amortized cost		1,071,889,518	1,001,825,294
Mortgage servicing rights, at fair value	[1]	795,656	551,997
Accrued interest receivable	[1]	5,797,991	3,977,752
Investment related receivable	[1]	0	22,400,000
Other assets	[1]	2,116,007	1,889,258
Total assets	[1]	1,127,965,537	1,048,923,353
LIABILITIES:
Collateralized loan obligations, net	[1]	829,310,498	826,782,543
Secured term loan	[1]	46,971,042	46,845,502
Accrued interest payable	[1]	2,360,809	704,055
Dividends payable	[1]	4,131,369	3,242,809
Fees and expenses payable to Manager	[1]	1,606,333	1,825,142
Other liabilities	[1]	583,989	147,802
Total liabilities	[1]	884,964,040	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 December 31, 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 December 31, 2022 and December 31, 2021, respectively	[1]	522,252	249,434
Additional paid-in capital	[1]	314,598,384	233,833,749
Cumulative distributions to stockholders	[1]	(160,724,426)	(143,449,310)
Accumulated earnings	[1]	31,250,852	21,387,192
Total stockholders' equity	[1]	242,901,997	169,276,000
Noncontrolling interests	[1]	99,500	99,500
Total equity	[1]	243,001,497	169,375,500
Total liabilities and equity	[1]	$ 1,127,965,537	$ 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 December 31, 2022 and December 31, 2021, assets of the consolidated VIEs totaled $1,005,507,371 and $1,003,896,995, respectively and the liabilities of consolidated VIEs totaled $831,575,144 and $827,390,435, respectively.