Investments in Real Estate-Related Securities (Tables)

12 Months Ended

Dec. 31, 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 debt securities by asset type:

	December 31, 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	$	25,202	$	(1,160)	$	24,042	$	(741)	$	23,301	7.26	%	2/13/2039
Preferred stock of REITs	N/A		N/A		2,107		(171)		1,936		6.71	%	N/A
Common stock of REITs	N/A		N/A		4,034		(1,241)		2,793		5.51	%	N/A
Total	$	25,202	$	(1,160)	$	30,183	$	(2,153)	$	28,030

	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, the amount presented represents amortized cost. For preferred and common stock of REITs, the amount presented represents cost.