CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 10,632	$ 8,732
Restricted cash	1	143
Loans held for investment, net	278,225	242,078
Accrued interest receivable	938	755
Prepaid expenses and other assets	193	221
Total assets	289,989	251,929
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable, accrued liabilities and deposits	777	1,011
Master repurchase facility, net	200,465	164,694
Due to related persons	282	3
Total liabilities	201,524	165,708
Commitments and contingencies
Shareholders' equity:
Common shares of beneficial interest, $0.01 par value per share; 25,000,000 shares authorized; 8,253,836 and 8,239,610 shares issued and outstanding, respectively	83	82
Additional paid in capital	88,979	88,869
Cumulative net income	5,965	1,937
Cumulative distributions	(6,562)	(4,667)
Total shareholders' equity	88,465	86,221
Total liabilities and shareholders' equity	$ 289,989	$ 251,929