Note 3 - Loans Held for Investment, Net (Tables)

3 Months Ended

Mar. 31, 2022

Notes Tables

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

							Weighted Average
Loan Type	Outstanding Face Amount		Carrying Value (1)		Loan Count		Fixed Rate (2)			Coupon (3)			Life (years) (4)
March 31, 2022
Mortgage loans, held-for-investment	$	700,309	$	744,525		17		100.00	%		4.82	%		6.12
Mezzanine loans, held-for-investment		150,603		152,974		22		69.98	%		8.94	%		6.30
Preferred equity, held-for-investment		100,029		99,788		6		100.00	%		10.43	%		6.21
Convertible note, held-for-investment		59,135		58,868		2		100.00	%		9.00	%		1.74
	$	1,010,076	$	1,056,155		47		95.52	%		6.23	%		5.90

							Weighted Average
Loan Type	Outstanding Face Amount		Carrying Value (1)		Loan Count		Fixed Rate (2)			Coupon (3)			Life (years) (4)
December 31, 2021
Mortgage loans, held-for-investment	$	795,223	$	847,364		21		100.00	%		4.85	%		6.45
Mezzanine loans, held-for-investment		152,144		154,516		23		69.28	%		8.03	%		6.50
Preferred equity, held-for-investment		66,697		66,624		6		100.00	%		10.52	%		3.84
Convertible note, held-for-investment		20,478		20,377		1		100.00	%		9.00	%		1.99
	$	1,034,542	$	1,088,881		51		95.48	%		5.77	%		6.20

Schedule of Loan and Preferred Equity Portfolio Activity [Table Text Block]

	For the Three Months Ended March 31,
	2022			2021
Balance at December 31,	$	1,088,881		$	1,045,891
Originations		99,708			25,876
Proceeds from principal repayments		(124,633	)		(834	)
PIK distribution reinvested in Preferred Units		168			—
Amortization of loan premium, net (1)		(7,818	)		(1,759	)
Loan loss provision		(151	)		(124	)
Realized losses		—			(65	)
Balance at March 31,	$	1,056,155		$	1,068,985

Financing Receivable Credit Quality Indicators [Table Text Block]

	March 31, 2022
	Number of		Carrying		% of Loan
Risk Rating	Loans		Value		Portfolio
1		—	$	—		—
2		—		—		—
3		47		1,056,155		100.00	%
4		—		—		—
5		—		—		—
		47	$	1,056,155		100.00	%

	December 31, 2021
	Number of		Carrying		% of Loan
Risk Rating	Loans		Value		Portfolio
1		—	$	—		—
2		—		—		—
3		51		1,088,881		100.00	%
4		—		—		—
5		—		—		—
		51	$	1,088,881		100.00	%

Schedule of Loans Held for Investment as a Percentage of Face Amount by Geographic Areas [Table Text Block]

Geography	March 31, 2022			December 31, 2021
Georgia		30.51	%		38.93	%
Florida		16.75	%		16.90	%
Texas		7.82	%		7.74	%
Nevada		6.12	%		*
Maryland		5.72	%		5.66	%
Minnesota		4.91	%		4.86	%
New York		4.33	%		*
California		4.29	%		2.53	%
Alabama		3.39	%		3.35	%
New Jersey		2.86	%		2.83	%
North Carolina		2.27	%		2.23	%
Missouri		1.20	%		1.19	%
Connecticut		*			2.87	%
Other (18 and 19 states each at <1%)		9.83	%		10.91	%
		100.00	%		100.00	%

Collateral Property Type	March 31, 2022			December 31, 2021
Single Family Rental		67.77	%		76.15	%
Multifamily		28.99	%		20.32	%
Life Science		3.24	%		3.53	%
		100.00	%		100.00	%