Investments in Real Estate-Related Securities (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments in Real Estate-Related Debt Securities

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

	June 30, 2023
$ 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	$	22,911	$	(718)	$	22,193	$	(2,043)	$	20,150	8.24	%	7/29/2039
Corporate debt	4,478		(158)		4,320		(288)		4,032		5.02	%	9/27/2027
Preferred stock of REITs	N/A		N/A		2,107		(180)		1,927		6.74	%	N/A
Common stock of REITs	N/A		N/A		4,034		(1,272)		2,762		5.57	%	N/A
Total	$	27,389	$	(876)	$	32,654	$	(3,783)	$	28,871

	December 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	$	16,123	$	(419)	$	15,704	$	(1,816)	$	13,888	7.96	%	11/16/2039
Corporate debt	4,978		(144)		4,834		(339)		4,495		5.15	%	7/11/2025
Preferred stock of REITs	N/A		N/A		2,107		(267)		1,840		7.06	%	N/A
Common stock of REITs	N/A		N/A		4,034		(745)		3,289		4.68	%	N/A
Total	$	21,101	$	(563)	$	26,679	$	(3,167)	$	23,512

(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.