Subsequent Events	3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	(16) Subsequent Events The following events occurred subsequent to March 31, 2022: • From April 1, 2022 through May 3, 2022, the Company closed, or is in the process of closing, five first mortgage loans with a total loan commitment amount of $304.2 million and initial fundings of $243.3 million. • From April 1, 2022 through May 3, 2022, the Company received full loan repayments related to three of its first mortgage loans with an aggregate loan commitment and unpaid principal balance of $215.4 million and $210.8 million, respectively. The first mortgage loans were secured by the following property types (as a percentage of total loan commitments retired): 71.2% multifamily and 28.8% mixed-use. • On April 4, 2022, the Company sold its remaining 10 acre parcel of REO Property for total proceeds of $75.0 million. After giving effect to transaction costs, the Company will recognize a gain on sale of real estate owned for GAAP and income tax purposes of $13.3 million during the three months ended June 30, 2022. The Company intends to utilize a portion of its capital loss carryforwards to fully offset the taxable gain realized from this sale. The Company no longer owns any REO Property. • From April 1, 2022 through May 3, 2022, the Company closed the following secured financing agreement transactions: • On April 11, 2022, the Company repaid $34.0 million outstanding under its secured credit agreement with US Bank and simultaneously terminated the financing arrangement prior to its July 9, 2022 initial maturity as part of the Company's program to streamline its portfolio of secured credit agreements. • On April 26, 2022, the Company extended the initial maturity date of its secured credit agreement with Barclays from August 13, 2022 to August 13, 2025, and reduced the total commitment to $500.0 million. The secured credit agreement includes a $250.0 million accordion feature that is subject to Barclays's standard approval rights.

Subsequent Events

3 Months Ended

Mar. 31, 2022

(16) Subsequent Events

The following events occurred subsequent to March 31, 2022:

•

From April 1, 2022 through May 3, 2022, the Company closed, or is in the process of closing, five first mortgage loans with a total loan commitment amount of $304.2 million and initial fundings of $243.3 million.

•

From April 1, 2022 through May 3, 2022, the Company received full loan repayments related to three of its first mortgage loans with an aggregate loan commitment and unpaid principal balance of $215.4 million and $210.8 million, respectively. The first mortgage loans were secured by the following property types (as a percentage of total loan commitments retired): 71.2% multifamily and 28.8% mixed-use.

•

On April 4, 2022, the Company sold its remaining 10 acre parcel of REO Property for total proceeds of $75.0 million. After giving effect to transaction costs, the Company will recognize a gain on sale of real estate owned for GAAP and income tax purposes of $13.3 million during the three months ended June 30, 2022. The Company intends to utilize a portion of its capital loss carryforwards to fully offset the taxable gain realized from this sale. The Company no longer owns any REO Property.

•

From April 1, 2022 through May 3, 2022, the Company closed the following secured financing agreement transactions:

•

On April 11, 2022, the Company repaid $34.0 million outstanding under its secured credit agreement with US Bank and simultaneously terminated the financing arrangement prior to its July 9, 2022 initial maturity as part of the Company's program to streamline its portfolio of secured credit agreements.

•

On April 26, 2022, the Company extended the initial maturity date of its secured credit agreement with Barclays from August 13, 2022 to August 13, 2025, and reduced the total commitment to $500.0 million. The secured credit agreement includes a $250.0 million accordion feature that is subject to Barclays's standard approval rights.