CONSOLIDATED VARIABLE INTEREST ENTITIES

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

CONSOLIDATED VARIABLE INTEREST ENTITIES

9. CONSOLIDATED VARIABLE INTEREST ENTITIES

The Company consolidates on its balance sheet two CLOs that are considered VIEs as of December 31, 2023 and December 31, 2022 ($ in thousands):

	December 31, 2023		December 31, 2022
Restricted cash	$	—	$	4,902
Mortgage loan receivables held for investment, net, at amortized cost	1,327,722		1,308,654
Accrued interest receivable	9,394		8,313
Other assets	4,469		17,505
Total assets	$	1,341,585	$	1,339,374
Debt obligations, net	$	1,060,719	$	1,058,462
Accrued expenses	3,555		3,029
Other liabilities	—		65
Total liabilities	1,064,274		1,061,556
Net equity in VIEs (eliminated in consolidation)	277,311		277,818
Total equity	277,311		277,818
Total liabilities and equity	$	1,341,585	$	1,339,374

Refer to Note 6, Debt Obligations, Net - Collateralized Loan Obligations (“CLO”) Debt for further details.