Restricted Cash, Other Assets and Accrued and Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Restricted Cash

The following table presents a summary of restricted cash as of June 30, 2024 and December 31, 2023 (dollars in thousands):

	June 30, 2024		December 31, 2023
Restricted cash:
Borrower escrow deposits	$	69,542	$	88,603
Capital expenditure reserves	9,076		10,534
Real estate escrow reserves	4,327		2,198
Working capital and other reserves	1,846		2,396
Tenant lockboxes	634		852
Total	$	85,424	$	104,583

Summary of Other Assets

The following table presents a summary of other assets as of June 30, 2024 and December 31, 2023 (dollars in thousands):

	June 30, 2024		December 31, 2023
Other assets:
Right-of-use lease asset	$	24,894	$	22,094
Tax receivable and deferred tax assets	16,600		16,634
Deferred financing costs, net – credit facilities	4,582		3,807
Prepaid expenses and other	2,511		2,730
Investments in unconsolidated ventures at fair value	2,235		2,251
Derivative assets	—		164
Total	$	50,822	$	47,680

Summary of Other Liabilities

The following table presents a summary of accrued and other liabilities as of June 30, 2024 and December 31, 2023 (dollars in thousands):

	June 30, 2024		December 31, 2023
Accrued and other liabilities:
Operating lease liability	$	25,755	$	22,926
Current and deferred tax liability	21,901		24,202
Accounts payable, accrued expenses and other liabilities	13,020		17,569
Interest payable	7,288		11,324
Prepaid rent and unearned revenue	6,979		7,219
Tenant security deposits	1,622		1,617
Unfunded CECL loan allowance	503		425
Other	—		219
Total	$	77,068	$	85,501