Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of fair value of assets and liabilities

The following tables present estimated fair values of our financial instruments, as of the date indicated, whether or not recognized or recorded in the consolidated balance sheets at the periods indicated:

	December 31, 2022				Fair Value Measurements Using
(dollars in thousands)	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	54,964	$	54,964	$	54,964	$	—	$	—
Mortgage notes receivable, net		881,950		865,304		—		—		865,304
Interest and fees receivable, net		14,775		14,775		—		14,775		—
Financial Liabilities
Senior unsecured notes, net		97,789		99,990		99,990		—		—
Private placement warrant liability		25		25		—		25		—

	December 31, 2021				Fair Value Measurements Using
(dollars in thousands)	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	132,889	$	132,889	$	132,889	$	—	$	—
Mortgage notes receivable, net		901,350		901,350		—		—		901,350
Interest and fees receivable, net		17,526		17,526		—		17,526		—
Financial Liabilities
Senior unsecured notes, net		97,223		100,000		100,000		—		—
Private placement warrant liability		1,838		1,838		—		1,838		—

Schedule of valuation methodologies and inputs used for assets that are measured at fair value

The following table sets forth assets measured and reported at fair value on a nonrecurring basis as of December 31, 2022 and 2021. All of these values are categorized as Level 3. The table also contains information about valuation methodologies and inputs for:

	Carrying Value				Fair Value
(dollars in thousands)	December 31, 2022		December 31, 2021		December 31, 2022		December 31, 2021		Valuation Technique	Unobservable Inputs	Range of Inputs
Investment in real property held for sale(1)	$	14,628	$	—	$	15,075	$	—	Collateral valuations	Discount to appraised value based on comparable market prices, broker opinion of value, discounted cash flows or capitalization rate applied to estimate net operating income	0 - 10%
Investment in real property held for use (1)	$	25,167	$	—	$	33,379	$	—	Collateral valuations	Discount to appraised value based on comparable market prices, broker opinion of value, discounted cash flows or capitalization rate applied to estimate net operating income	0 - 10%
Collateral dependent loans, net of allowance for credit losses(1)		81,470		436		87,622		835	Collateral valuations	Discount to appraised value based on comparable market prices or broker opinion of value, discounted cash flows or capitalization rate applied to estimate net operating income	0 - 10%
Total	$	121,265	$	436	$	136,076	$	835

(1)Previously reported amounts included all real properties and collateral dependent loans regardless of whether an adjustment was required to mark to fair value in the reporting period. The current disclosure represents only those loans and properties for which an adjustment was required to report at fair value on a nonrecurring basis during the reporting periods.