Subsequent Events	9 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Investment Activity During the period from October 1, 2024 to November 7, 2024, the Company advanced approximately $5.5 million to existing borrowers under fully discretionary delayed draw facilities, and the Company advanced the $6.0 million unfunded commitment on Loan #32. Additionally, in October 2024, the Company originated a $27.0 million term loan to an operator in Illinois, of which $25.0 million was funded at closing. The loan bears interest at a floating rate, based on the prime rate, and a spread of 6.25% subject to a 7.50% prime rate floor. The loan is interest only for the first 15 months and thereafter amortizes at a rate of 10.0% per annum. On October 1, 2024, the Company sold $6.0 million of the principal balance of Loan #11, which was classified as held for sale as of September 30, 2024, to an affiliate under common control with the Manager. The total selling price of approximately $6.0 million was approved by the audit committee of the Board. The fair value equaled the carrying value of the loan of $6.0 million plus accrued unpaid interest through the sale date. On October 4, 2024, the outstanding principal balance of Loan #11 was repaid in full along with all applicable accrued interest and fees payable at maturity. On October 30, 2024, the Company entered into an Omnibus Assignment and Assumption Agreement with an affiliate under common control whereby the Company sold $6.0 million of the principal balance of Loan #1, in exchange for aggregate consideration of $6.0 million comprised of approximately $4.5 million and $1.5 million of principal of existing Loans #7 and #20, respectively. The fair value approximated the carrying value of the loan plus accrued unpaid interest through the sale date. Unsecured Notes due 2028 On October 18, 2024, the Company entered into a Loan Agreement by and among the Company and the various financial institutions party thereto, for an aggregate commitment of $50.0 million in unsecured notes (the "Unsecured Notes"). The Unsecured Notes have a contractual four year term maturing on October 18, 2028 and bear an interest rate of 9.00% per annum. The $50.0 million aggregate commitment was advanced on the closing date and proceeds were used to temporarily repay outstanding obligations on the Revolving Loan and for other working capital purposes. The Company incurred debt issuance costs of approximately $0.9 million related to Unsecured Notes, which were capitalized and are subsequently amortized through maturity. Revolving Loan During the period from October 1, 2024 to November 6, 2024, the Company had net borrowings and repayments on the Revolving Loan of $(38.5) million. As of November 7, 2024, remaining availability on the Revolving Loan is $94.5 million. Payment of Dividend On October 15, 2024, the Company paid its regular quarterly dividend of $0.47 per common share relating to the third quarter of 2024 to stockholders of record as of the close of business on September 30, 2024. The total amount of the cash dividend payment was approximately $9.3 million.

Subsequent Events

9 Months Ended

Sep. 30, 2024

15. SUBSEQUENT EVENTS

Investment Activity

During the period from October 1, 2024 to November 7, 2024, the Company advanced approximately $5.5 million to existing borrowers under fully discretionary delayed draw facilities, and the Company advanced the $6.0 million unfunded commitment on Loan #32. Additionally, in October 2024, the Company originated a $27.0 million term loan to an operator in Illinois, of which $25.0 million was funded at closing. The loan bears interest at a floating rate, based on the prime rate, and a spread of 6.25% subject to a 7.50% prime rate floor. The loan is interest only for the first 15 months and thereafter amortizes at a rate of 10.0% per annum.

On October 1, 2024, the Company sold $6.0 million of the principal balance of Loan #11, which was classified as held for sale as of September 30, 2024, to an affiliate under common control with the Manager. The total selling price of approximately $6.0 million was approved by the audit committee of the Board. The fair value equaled the carrying value of the loan of $6.0 million plus accrued unpaid interest through the sale date. On October 4, 2024, the outstanding principal balance of Loan #11 was repaid in full along with all applicable accrued interest and fees payable at maturity.

On October 30, 2024, the Company entered into an Omnibus Assignment and Assumption Agreement with an affiliate under common control whereby the Company sold $6.0 million of the principal balance of Loan #1, in exchange for aggregate consideration of $6.0 million comprised of approximately $4.5 million and $1.5 million of principal of existing Loans #7 and #20, respectively. The fair value approximated the carrying value of the loan plus accrued unpaid interest through the sale date.

Unsecured Notes due 2028

On October 18, 2024, the Company entered into a Loan Agreement by and among the Company and the various financial institutions party thereto, for an aggregate commitment of $50.0 million in unsecured notes (the "Unsecured Notes"). The Unsecured Notes have a contractual four year term maturing on October 18, 2028 and bear an interest rate of 9.00% per annum. The $50.0 million aggregate commitment was advanced on the closing date and proceeds were used to temporarily repay outstanding obligations on the Revolving Loan and for other working capital purposes. The Company incurred debt issuance costs of approximately $0.9 million related to Unsecured Notes, which were capitalized and are subsequently amortized through maturity.

Revolving Loan

During the period from October 1, 2024 to November 6, 2024, the Company had net borrowings and repayments on the Revolving Loan of $(38.5) million. As of November 7, 2024, remaining availability on the Revolving Loan is $94.5 million.

Payment of Dividend

On October 15, 2024, the Company paid its regular quarterly dividend of $0.47 per common share relating to the third quarter of 2024 to stockholders of record as of the close of business on September 30, 2024. The total amount of the cash dividend payment was approximately $9.3 million.