XML 63 R45.htm IDEA: XBRL DOCUMENT v3.24.0.1
COMMERCIAL MORTGAGE LOANS HELD-FOR-INVESTMENT - Additional Information (Details)
1 Months Ended 2 Months Ended 12 Months Ended
Jan. 18, 2024
USD ($)
Nov. 25, 2023
USD ($)
Feb. 28, 2023
USD ($)
Mar. 15, 2024
USD ($)
Dec. 31, 2023
USD ($)
loanParticipation
Dec. 31, 2022
USD ($)
Mar. 31, 2023
USD ($)
Jan. 01, 2023
USD ($)
Dec. 31, 2021
USD ($)
Financing Receivable, Recorded Investment [Line Items]                  
Accumulated earnings [1]         $ 47,373,908 $ 31,250,852      
CECL reserve         6,059,006 [1] 4,258,668 [1]     $ 0
Increase in allowance for credit loss         2,500,000        
Sale of loans     $ 6,000,000            
Reserve for impaired loan         4,300,000 $ 4,300,000      
Unpaid principal balance, interest accrual status         19,600,000        
Commercial Real Estate Portfolio Segment | Risk Rating, 5                  
Financing Receivable, Recorded Investment [Line Items]                  
Transition of commercial loans held for sale to a risk rating two steps higher         36,800,000        
Accounting Standards Update 2016-13                  
Financing Receivable, Recorded Investment [Line Items]                  
Accumulated earnings             $ 3,600,000 $ (3,600,000)  
Office Building                  
Financing Receivable, Recorded Investment [Line Items]                  
Impaired unpaid principal value     $ 10,300,000            
Multifamily | Commercial Real Estate Portfolio Segment | Risk Rating, 5                  
Financing Receivable, Recorded Investment [Line Items]                  
Outstanding Principal         $ 8,900,000        
Multifamily | Commercial Real Estate Portfolio Segment | Risk Rating, 5 | Subsequent Event                  
Financing Receivable, Recorded Investment [Line Items]                  
Insurance recoveries $ 13,500,000                
Outstanding Principal $ 0                
Multifamily | Columbus Ohio | Commercial Real Estate Portfolio Segment | Risk Rating, 5                  
Financing Receivable, Recorded Investment [Line Items]                  
Number of impaired office loans | loanParticipation         1        
Transition of commercial loans held for sale to a risk rating two steps higher         $ 12,800,000        
Carrying value         $ 8,900,000        
Insurance recoveries   $ 5,000,000              
Insurance recoveries applied to reduce carrying value   3,100,000              
Insurance recoveries applied to reduce payable for tenant settlement   $ 1,900,000              
Multifamily | Columbus Ohio | Commercial Real Estate Portfolio Segment | Risk Rating, 5 | Subsequent Event                  
Financing Receivable, Recorded Investment [Line Items]                  
Insurance recoveries       $ 13,500,000          
Outstanding Principal       $ 0          
Multifamily | Virginia | Commercial Real Estate Portfolio Segment | Risk Rating, 5                  
Financing Receivable, Recorded Investment [Line Items]                  
Number of impaired office loans | loanParticipation         1        
Transition of commercial loans held for sale to a risk rating two steps higher         $ 36,800,000        
[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, 2023 and December 31, 2022, assets of the consolidated VIEs totaled $1,384,136,334 and $1,005,507,371, respectively and the liabilities of consolidated VIEs totaled $1,150,207,290 and $831,575,144, respectively. See Note 4 for further discussion.