Concentration of Credit Risk (Tables)

6 Months Ended

Jun. 30, 2021

Loans And Leases Receivable Disclosure [Line Items]

Summary of Loan Portfolio by Property/ Loan Category Type

A summary of the loan portfolio by property type as of June 30, 2021 and December 31, 2020 based on total loan commitment and current unpaid principal balance (“UPB”) is as follows (dollars in thousands):

	June 30, 2021
Property Type	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
Office	$	2,811,920	$	401,705		52.9	%	$	2,410,216		49.9	%
Multifamily		1,188,632		51,201		22.3			1,137,731		23.5
Hotel		673,043		6,781		12.7			669,773		13.9
Mixed-Use		588,693		27,086		11.1			561,606		11.6
Retail		33,000		2,143		0.6			31,200		0.6
Condominium		23,009		—		0.4			23,009		0.5
Total	$	5,318,297	$	488,916		100.0	%	$	4,833,535		100.0	%

	December 31, 2020
Property Type	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
Office	$	2,756,338	$	356,034		55.7	%	$	2,400,304		53.0	%
Multifamily		804,838		24,001		16.3			781,137		17.3
Hotel		737,293		9,864		14.9			731,487		16.2
Mixed-Use		586,993		31,398		11.9			555,595		12.3
Condominium		25,049		—		0.5			25,049		0.6
Retail		33,000		2,190		0.7			31,153		0.7
Total	$	4,943,511	$	423,487		100.0	%	$	4,524,725		100.0	%

Summary of Geographic Composition of Loans Held for Investment Based on Current UPB and Loan Commitment

All of the Company’s loans held for investment are secured by properties within the United States. The geographic composition of loans held for investment based on total loan commitment and current UPB as of June 30, 2021 and December 31, 2020 is as follows (dollars in thousands):

	June 30, 2021
Geographic Region	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
East	$	2,101,475	$	126,872		39.5	%	$	1,975,566		40.9	%
South		1,358,016		93,438		25.5			1,265,693		26.2
West		1,207,005		202,935		22.7			1,005,804		20.8
Midwest		563,701		64,628		10.6			499,374		10.3
Various		88,100		1,043		1.7			87,098		1.8
Total	$	5,318,297	$	488,916		100.0	%	$	4,833,535		100.0	%
	December 31, 2020
Geographic Region	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
East	$	2,009,022	$	152,487		40.6	%	$	1,856,535		41.0	%
South		1,289,141		97,405		26.1			1,192,852		26.4
West		1,128,897		121,738		22.8			1,009,589		22.3
Midwest		428,351		49,478		8.7			379,173		8.4
Various		88,100		2,379		1.8			86,576		1.9
Total	$	4,943,511	$	423,487		100.0	%	$	4,524,725		100.0	%

Loan Category

Loans And Leases Receivable Disclosure [Line Items]

Summary of Loan Portfolio by Property/ Loan Category Type

A summary of the loan portfolio by category as of June 30, 2021 and December 31, 2020 based on total loan commitment and current UPB is as follows (dollars in thousands):

	June 30, 2021
Loan Category	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
Moderate Transitional	$	1,987,642	$	308,682		37.4	%	$	1,680,654		34.8	%
Light Transitional		1,924,901		155,159		36.2			1,769,742		36.6
Bridge		1,370,754		24,337		25.7			1,348,877		27.9
Construction		35,000		738		0.7			34,262		0.7
Total	$	5,318,297	$	488,916		100.0	%	$	4,833,535		100.0	%
	December 31, 2020
Loan Category	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
Light Transitional	$	1,937,644	$	173,518		39.2	%	$	1,764,126		39.0	%
Moderate Transitional		1,633,131		224,532		33.0			1,410,145		31.2
Bridge		1,337,736		22,953		27.1			1,317,938		29.1
Construction		35,000		2,484		0.7			32,516		0.7
Total	$	4,943,511	$	423,487		100.0	%	$	4,524,725		100.0	%