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Investments in Real Estate-Related Securities
 3 Months Ended
Mar. 31, 2019
Investments Schedule [Abstract]  
Investments in Real Estate-Related Securities

5.

Investments in Real Estate-Related Securities

The following table details the Company’s investments in real estate-related debt securities, which are comprised of RMBS and CDO ($ in thousands):

 

Instrument

 

Number of

Positions

 

Credit

Rating(1)

 

Weighted

Average

Coupon

 

 

Weighted

Average

Maturity

Date

 

Cost Basis

 

 

Fair Value

 

RMBS

 

22

 

Other

 

4.25%

 

 

March 5, 2023

 

$

86,985

 

 

$

86,973

 

CDO

 

8

 

BBB

 

5.89%

 

 

June 7, 2020

 

 

20,340

 

 

 

20,222

 

 

 

30

 

 

 

 

 

 

 

 

 

$

107,325

 

 

$

107,195

 

 

(1)

BBB represents credit ratings of BBB+, BBB, and BBB-. Other consists of investments that, as of March 31, 2019, were either not ratable or have not been submitted to ratings agencies.

 

During the three months ended March 31, 2019, the Company recorded an unrealized loss of $0.1 million on its investments in real estate-related securities and recorded such amount as a component of income from real estate-related securities on its Consolidated Statements of Operations. During the three months ended March 31, 2019, the Company did not sell any securities.