FAIR VALUE - Fair Value Information on Financial Instruments (Details) - USD ($)		Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	$ 98,572,560	$ 43,858,515
Restricted cash	[1]	1,946,370	3,507,850
Assets	[1]	1,126,423,468	1,127,965,537
Collateralized loan obligations	[1]	829,933,826	829,310,498
Secured Term Loan	[1]	47,032,485	46,971,042
Total liabilities	[1]	885,576,229	884,964,040
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		1,116,982,602	1,119,255,883
Total liabilities		876,966,311	876,281,540
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		98,572,560	43,858,515
Restricted cash		1,946,370	3,507,850
Carrying Value | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations		829,933,826	829,310,498
Carrying Value | Unobservable inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment, net		1,016,463,672
Secured Term Loan		47,032,485	46,971,042
Face Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		1,120,998,037	1,124,231,464
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		98,572,560	43,858,515
Restricted cash		1,946,370	3,507,850
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, net		1,020,479,107	1,076,865,099
Secured Term Loan		47,750,000	47,750,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		1,113,232,998	1,111,773,953
Total liabilities		851,627,525	847,871,611
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		98,572,560	43,858,515
Restricted cash		1,946,370	3,507,850
Fair Value | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations		806,594,000	803,308,375
Fair Value | Unobservable inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment, net		1,012,714,068	1,064,407,588
Secured Term Loan		$ 45,033,525	$ 44,563,236

[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, 2023 and December 31, 2022, assets of consolidated VIEs totaled $1,002,563,861 and $1,005,507,371, respectively and the liabilities of consolidated VIEs totaled $832,342,571 and $831,575,144 respectively. See Note 4 for further discussion.