Loan Participations Sold, Net (Tables)

9 Months Ended

Sep. 30, 2022

Mortgage Loans On Real Estate [Abstract]

The following table details the Company’s loan participations sold as of September 30, 2022 and December 31, 2021:


	September 30, 2022
Loan Participations Sold	Count		Principal Balance		Book Value		Weighted Average Yield/Cost (1)	Weighted Average Maximum Maturity
Total Loans		7	$	121,188	$	121,950	L+3.7%		1.44
Senior participations (2)(3)		7	$	96,950	$	96,950	L+2.0%		1.44


	December 31, 2021
Loan Participations Sold	Count		Principal Balance		Book Value		Weighted Average Yield/Cost (1)	Weighted Average Maximum Maturity
Total Loans		9	$	137,215	$	137,931	L+3.6%		2.22
Senior participations (2)(3)		9	$	109,772	$	109,772	L+2.0%		2.22
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(1)

The yield/cost is the present value of all future principal and interest payments on the loan or participation interest and does not include any origination fees or deferred commitment fees.

(2)

As of September 30, 2022 and December 31, 2021, the loan participations sold were non-recourse to the Company.

(3)

During the nine months ended September 30, 2022, the Company recorded $2,526 of interest expense related to the loan participations sold.