Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net Income (Loss)	$ 22,905	$ 12,600
Adjustments to reconcile net income to net cash provided by operating activities
Amortization of net loan fees and discount/premiums on loans receivable	(3,303)	(2,125)
Income from equity method investments	(2,695)	(4,939)
Distributions of earnings from equity method investments	2,886	3,772
Amortization of deferred financing costs	1,075	564
Provision for credit loss	1,378	1,286
Increase or decrease in operating assets and liabilities:
(Increase) in accrued interest receivable	(2,083)	(1,345)
Decrease (increase) in other assets	83	(92)
Decrease in reimbursement receivable	0	759
Increase in related party payables and accrued expenses	819	25
Increase in reimbursement payable	55	0
(Decrease) increase in incentive fee payable	(899)	798
Increase in management fee payable	195	276
Increase in accounts payable and accrued expenses	69	899
Increase in other liabilities	26	55
Net cash provided by operating activities	20,511	12,533
Cash flows from investing activities
Origination and purchase of mortgage loan receivables	(235,175)	(282,714)
Repayment of mortgage loan receivables	67,776	0
Distributions from equity method investments in excess of earnings	2,444	6,560
Net cash (used for) investing activities	(164,955)	(276,154)
Cash flows from financing activities
Issuance of common units	60,527	86,550
Capital received in advance	0	82,644
Distributions paid	(24,630)	(11,824)
Credit facility borrowings	116,000	184,300
Credit facility paydowns	(116,000)	(141,100)
Repurchase agreement borrowings	139,256	30,100
Repurchase agreement paydowns	(48,530)	(1,808)
Note payable borrowings	3,624	125,628
Note payable paydowns	(3,794)	0
Deferred financing costs paid	(848)	(236)
Net cash provided by financing activities	125,605	354,254
Net (decrease) increase in cash and cash equivalents	(18,839)	90,633
Cash and cash equivalents, beginning of period	26,622	5,199
Cash and cash equivalents, end of period	7,783	95,832
Reconciliation of cash and cash equivalents and restricted cash
Cash and cash equivalents	7,783	13,188
Restricted cash	0	82,644
Cash and cash equivalents and restricted cash, end of period	7,783	95,832
Supplemental financing activities
Cash paid during the period for interest	$ 27,643	$ 16,480