Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 26,459	$ 30,241
Restricted cash	6,773	3,230
Real estate investment, net (Note 8)	62,269	0
Loans, held-for-investment, net	241,517	127,777
Common stock investment, at fair value	58,460	44,626
Mortgage loans, held-for-investment, net	847,364	918,114
Accrued interest and dividends	8,319	5,078
CMBS structured pass through certificates, at fair value (Note 6)	69,816	38,984
Accounts receivable and other assets	393	745
TOTAL ASSETS	8,513,917	6,176,310
Liabilities:
Master repurchase agreements	286,324	161,465
Unsecured notes, net	168,325	34,960
Mortgages payable, net	32,176	0
Accounts payable and other accrued liabilities	3,903	1,779
Accrued interest payable	3,985	2,311
Total Liabilities	8,007,211	5,772,397
Redeemable noncontrolling interests in the OP	261,423	275,670
Stockholders' Equity:
Preferred stock, $0.01 par value: 100,000,000 shares authorized; 2,000,000 and 2,000,000 shares issued and 1,645,000 and 1,645,000 shares outstanding, respectively	16	16
Common stock, $0.01 par value: 500,000,000 shares authorized; 9,450,921 and 5,350,000 shares issued and 9,163,934 and 5,022,578 shares outstanding, respectively	92	50
Additional paid-in capital	222,300	138,043
Retained earnings	28,367	3,485
Preferred stock held in treasury at cost; 355,000 shares and 355,000, respectively	(8,567)	(8,567)
Common stock held in treasury at cost; 286,987 shares and 327,422 shares, respectively	(4,195)	(4,784)
Total Stockholders' Equity	245,283	128,243
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	8,513,917	6,176,310
Facility [Member]
Liabilities:
Secured financing agreements, net	786,226	840,453
Variable Interest Entity, Primary Beneficiary [Member]
ASSETS
Loans, held-for-investment, net	7,192,547	5,007,515
Liabilities:
Bonds payable held in variable interest entities, at fair value	6,726,272	4,731,429
Stockholders' Equity:
Noncontrolling interest in CMBS variable interest entities	7,175	0
Subsidiaries [Member]
Stockholders' Equity:
Noncontrolling interest in CMBS variable interest entities	$ 95	$ 0