Investments in Real Estate-Related Securities (Tables)

9 Months Ended

Sep. 30, 2024

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:

	September 30, 2024
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	$	35,500	$	(1,196)	$	34,304	$	47	$	34,351	7.80	%	8/9/2025
Common stock of REITs	N/A		N/A		5,544		664		6,208		4.19	%	N/A
Total	$	35,500	$	(1,196)	$	39,848	$	711	$	40,559

	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

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