Concentration of Risk

12 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Concentration of Risk

Note 21 — Concentration of Risk

The Company originates and purchases loans secured by a broad spectrum of commercial property throughout the United States. As of December 31, 2022 and 2021, geographic and property type concentrations of loans, by unpaid principal balance, were as follows:

	December 31,
	2022			2021
Geographic concentration:
California		22.8	%		23.3	%
New York		19.9			21.4
Florida		13.3			13.5
New Jersey		7.5			7.7
Other states (individually less than 5.0%)		36.5			34.1
		100.0	%		100.0	%

	December 31,
	2022			2021
Property type concentration:
Investor 1-4		52.7	%		50.7	%
Mixed use		12.6			12.8
Retail		8.7			9.1
Multifamily		8.6			8.8
Office		5.7			6.1
Warehouse		6.4			6.7
Other (individually less than 5.0%)		5.3			5.8
		100.0	%		100.0	%

As of December 31, 2022 and 2021, the Company held $13.3 million and $17.6 million, respectively, of real estate owned, net, with geographic concentrations as follows:

	December 31,
	2022			2021
Geographic concentration:
Maryland		16.8	%		21.4	%
Connecticut		—			6.1
Ohio		1.4			11.9
California		—			24.9
North Carolina		—			1.1
New Jersey		11.2			10.7
Florida		16.1			—
Massachusetts		21.3			—
New York		5.7			—
Texas		14.1			—
Other states (individually less than 5.0%)		13.4			23.9
		100.0	%		100.0	%