FAIR VALUE - Fair Value Information on Financial Instruments (Details) - USD ($)		Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	$ 65,135,065	$ 51,247,063
Restricted cash	[1]	1,457,342	270,129
Total	[1]	1,296,959,416	1,446,932,447
Collateralized loan obligations and secured financings	[1]	995,895,094	1,146,210,752
Secured Term Loan	[1]	47,344,478	47,220,226
Total liabilities	[1]	1,054,764,390	1,206,140,067
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total		1,253,245,746	1,435,398,389
Total liabilities		1,043,239,572	1,193,430,978
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		65,135,065	51,247,063
Restricted cash		1,457,342	270,129
Commercial mortgage loans held-for-investment, net			1,383,881,197
Carrying Value | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations and secured financings		995,895,094	1,146,210,752
Carrying Value | Unobservable inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment, net		1,186,653,339
Secured Term Loan		47,344,478	47,220,226
Face Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total		1,268,345,408	1,448,902,352
Total liabilities		1,047,117,019	1,199,200,000
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		65,135,065	51,247,063
Restricted cash		1,457,342	270,129
Commercial mortgage loans held-for-investment, net			1,397,385,160
Face Amount | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations and secured financings		999,367,019	1,151,450,000
Face Amount | Unobservable inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment, net		1,201,753,001
Secured Term Loan		47,750,000	47,750,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total		1,264,700,056	1,439,872,922
Total liabilities		1,038,018,129	1,174,442,515
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		65,135,065	51,247,063
Restricted cash		1,457,342	270,129
Commercial mortgage loans held-for-investment, net			1,388,355,730
Fair Value | Significant other observable inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loan obligations and secured financings		991,939,031	1,128,250,991
Fair Value | Unobservable inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commercial mortgage loans held-for-investment, net		1,198,107,649
Secured Term Loan		$ 46,079,098	$ 46,191,524

[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, 2024 and December 31, 2023, assets of consolidated VIEs totaled $1,229,092,297 and $1,384,136,334, respectively and the liabilities of consolidated VIEs totaled $999,192,658 and $1,150,207,290 respectively. See Note 4 for further discussion.