XML 55 R44.htm IDEA: XBRL DOCUMENT v3.23.2
USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Summary of Loan and Borrowing Characteristics (Details)
6 Months Ended 12 Months Ended
Jun. 30, 2023
USD ($)
instrument
contract
mortgageLoan
Dec. 31, 2022
USD ($)
instrument
contract
mortgageLoan
Variable Interest Entity [Line Items]    
Collateralized loan obligations [1] $ 830,564,083 $ 829,310,498
One month LIBOR rate (as a percent) 5.19% 4.18%
One month SOFR rate ( as a percent) 5.14% 4.19%
Weighted average LIBOR floor rate (as a percent) 0.27% 0.25%
SOFR spread rate (as a percent) 3.42% 3.41%
Basis spread on one-month LIBOR (percent) 1.43% 1.43%
One-Month LIBOR Rate    
Variable Interest Entity [Line Items]    
One month LIBOR rate (as a percent) 5.11% 4.32%
Financing receivable, floating Rate (as a percent) 74.70% 80.50%
Secured​ Overnight ​Financing​ Rate    
Variable Interest Entity [Line Items]    
Financing receivable, floating Rate (as a percent) 25.30% 19.50%
Commercial Real Estate Portfolio Segment    
Variable Interest Entity [Line Items]    
Collateral (loan investments) (Count) | mortgageLoan 66 71
Carrying Value $ 1,021,042,905 $ 1,076,148,186
Financing receivable, floating Rate (as a percent) 100.00% 100.00%
2021-FL1 CLO    
Variable Interest Entity [Line Items]    
Financings provided, (Count) | instrument 1 1
Collateralized loan obligations $ 830,564,083 $ 829,310,498
2021-FL1 CLO | One-Month LIBOR Rate    
Variable Interest Entity [Line Items]    
Weighted average yield (percent) 8.62% 7.60%
Weighted average yield (percent) 6.63% 5.75%
2021-FL1 CLO | Commercial Real Estate Portfolio Segment    
Variable Interest Entity [Line Items]    
Collateral (loan investments) (Count) | contract 64 64
Principal Value | 2021-FL1 CLO    
Variable Interest Entity [Line Items]    
Carrying Value $ 999,042,153 $ 996,492,150
Collateralized loan obligations 833,750,000 833,750,000
Carrying Value | 2021-FL1 CLO    
Variable Interest Entity [Line Items]    
Carrying Value 994,914,714 996,511,403
Collateralized loan obligations 830,564,083 829,310,498
Debt issuance costs $ 3,185,917 $ 4,439,502
[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 June 30, 2023 and December 31, 2022, assets of consolidated VIEs totaled $1,001,991,708 and $1,005,507,371, respectively and the liabilities of consolidated VIEs totaled $833,019,750 and $831,575,144 respectively. See Note 4 for further discussion.