Investments in Real Estate-Related Securities

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Investments in Real Estate-Related Securities

Investments in Real Estate-Related Securities

The following tables summarize our investments in real estate-related debt securities by asset type:

	March 31, 2022
$ in thousands	Principal Balance		Unamortized Premium (Discount)		Amortized Cost / Cost(1)		Unrealized Gain (Loss), Net		Fair Value		Period-end Weighted Average Yield		Weighted-Average Maturity Date
Non-agency CMBS	$	10,946	$	(87)	$	10,859	$	(559)	$	10,300	4.22	%	6/8/2043
Corporate debt	5,228		213		5,441		(196)		5,245		3.70	%	3/19/2026
Preferred stock of REITs	N/A		N/A		3,651		(10)		3,641		6.26	%	N/A
Common stock of REITs	N/A		N/A		4,034		440		4,474		3.23	%	N/A
Total	$	16,174	$	126	$	23,985	$	(325)	$	23,660

	December 31, 2021
$ in thousands	Principal Balance		Unamortized Premium (Discount)		Amortized Cost / Cost(1)		Unrealized Gain (Loss), Net		Fair Value		Period-end Weighted Average Yield		Weighted-Average Maturity Date
Non-agency CMBS	$	7,171	$	(83)	$	7,088	$	(154)	$	6,934	3.60	%	8/11/2042
Corporate debt	5,125		226		5,351		(7)		5,344		3.58	%	3/29/2026
Preferred stock of REITs	N/A		N/A		$	411	$	(4)	$	407	6.8	%	N/A
Common stock of REITs	N/A		N/A		$	—	$	—	$	—	—	%	N/A
Total	$	12,296	$	143	$	12,850	$	(165)	$	12,685

(1)For non-agency CMBS and corporate debt, the amount presented represents amortized cost. For preferred and common stock of REITs, the amount presented represents cost.