Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash flows from operating activities
Net Income (Loss)	$ 5,070	$ 3,991
Adjustments to reconcile net income to net cash provided by operating activities
Amortization of net loan fees and discount/premiums on loans receivable	(675)	(936)
Income from equity method investments	681	(609)
Distributions of earnings from equity method investments	489	1,120
Amortization of deferred financing costs	425	241
Provision for credit loss	15	3,164
Increase or decrease in operating assets and liabilities
Decrease in accrued interest receivable	1,380	70
Decrease in other assets	(17)	(21)
Decrease in reimbursement receivable	0	147
(Decrease) in related party payables and accrued expenses	(1,079)	(65)
Increase in reimbursement payable	307	0
(Decrease) increase in incentive fee payable	(477)	749
(Decrease) increase in management fee payable	(15)	1,032
Increase in accounts payable and accrued expenses	789	217
(Decrease) increase in other liabilities	(185)	410
Net cash provided by operating activities	6,708	9,510
Cash flows from investing activities
Origination and purchase of mortgage loan receivables	(202,072)	(2,953)
Subsequent draws on mortgage loan receivables	(3,907)	0
Repayment of mortgage loan receivables	126,156	12,000
Distributions from equity method investments in excess of earnings	1,747	0
Net cash (used for) provided by investing activities	(78,076)	9,047
Cash flows from financing activities
Issuance of common units	3,078	2,987
Distributions paid	(8,269)	(8,233)
Decrease in redemption payable	(4,094)	0
Credit facility borrowings	203,700	0
Credit facility paydowns	(108,700)	0
Repurchase agreement borrowings	41,300	0
Repurchase agreement paydowns	(447)	(9,600)
Note payable borrowings	0	0
Note payable paydowns	(55,250)	0
Deferred financing costs paid	(63)	(36)
Net cash provided by (used for) financing activities	71,255	(14,882)
Net (decrease) increase in cash and cash equivalents	(113)	3,675
Cash and cash equivalents, beginning of period	10,913	26,622
Cash and cash equivalents, end of period	10,800	30,297
Supplemental financing activities
Cash paid during the period for interest	9,128	8,357
Redemptions payable	$ 2,917	$ 0