CONSOLIDATED SCHEDULE OF INVESTMENTS $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Schedule of Investments [Line Items]
Amortized Cost	$ 517,523	[1],[2],[3],[4]
Fair Value	$ 523,045	[1],[2],[3],[4]
% of Net Assets	182.80%	[1],[2],[3],[4]
Qualifying Concentration Risk | Assets, Total | Qualifying Investment Assets
Schedule of Investments [Line Items]
Concentration risk	100.00%
Senior Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 494,644
Fair Value	$ 499,983
% of Net Assets	174.80%
Hospitality, Senior Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 90,610
Fair Value	$ 91,667
% of Net Assets	32.00%
Multifamily, Senior Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 388,647
Fair Value	$ 392,760
% of Net Assets	137.40%
Self Storage, Senior Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 15,387
Fair Value	$ 15,556
% of Net Assets	5.40%
Mezzanine
Schedule of Investments [Line Items]
Amortized Cost	$ 9,038
Fair Value	$ 9,181
% of Net Assets	3.20%
Multifamily, Mezzanine
Schedule of Investments [Line Items]
Amortized Cost	$ 9,038
Fair Value	$ 9,181
% of Net Assets	3.20%
Real Estate Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 13,841
Fair Value	$ 13,881
% of Net Assets	4.80%
Industrials, Real Estate Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 4,988
Fair Value	$ 5,002
% of Net Assets	1.70%
Multifamily, Real Estate Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 8,853
Fair Value	$ 8,879
% of Net Assets	3.10%
Investment, Identifier [Axis]: 26 W 9th Street LLC, Multifamily, Mezzanine
Schedule of Investments [Line Items]
Spread Above Reference Rate	12.75%	[5],[6],[7],[8]
Interest Rate	17.60%	[6],[7],[8],[9]
Par Amount	$ 1,727	[6],[7],[8]
Amortized Cost	1,702	[6],[7],[8]
Fair Value	$ 1,727	[6],[7],[8]
% of Net Assets	0.60%	[6],[7],[8]
Investment, Identifier [Axis]: 26 W 9th Street LLC, Multifamily, Senior Mortgage
Schedule of Investments [Line Items]
Spread Above Reference Rate	5.25%	[5],[6],[7],[8]
Interest Rate	10.10%	[6],[7],[8],[9]
Par Amount	$ 15,440	[6],[7],[8]
Amortized Cost	15,221	[6],[7],[8]
Fair Value	$ 15,440	[6],[7],[8]
% of Net Assets	5.40%	[6],[7],[8]
Investment, Identifier [Axis]: 68 East Avenue Austin, LLC, Hospitality
Schedule of Investments [Line Items]
Spread Above Reference Rate	4.00%	[5],[6],[8],[10]
Interest Rate	8.85%	[6],[8],[9],[10]
Par Amount	$ 22,320	[6],[8],[10]
Amortized Cost	22,107	[6],[8],[10]
Fair Value	$ 22,462	[6],[8],[10]
% of Net Assets	7.90%	[6],[8],[10]
Investment, Identifier [Axis]: ALP Delaware, LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	3.05%	[5],[6],[8],[11]
Interest Rate	7.90%	[6],[8],[9],[11]
Par Amount	$ 21,219	[6],[8],[11]
Amortized Cost	21,026	[6],[8],[11]
Fair Value	$ 21,219	[6],[8],[11]
% of Net Assets	7.40%	[6],[8],[11]
Investment, Identifier [Axis]: AVR Eugene Hotel LLC, Hospitality
Schedule of Investments [Line Items]
Spread Above Reference Rate	4.50%	[5],[6],[7],[8]
Interest Rate	9.35%	[6],[7],[8],[9]
Par Amount	$ 8,969	[6],[7],[8]
Amortized Cost	8,855	[6],[7],[8]
Fair Value	$ 8,969	[6],[7],[8]
% of Net Assets	3.10%	[6],[7],[8]
Investment, Identifier [Axis]: Admiral's Cove Holdings LLC , Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.75%	[5],[6],[8],[12]
Interest Rate	7.60%	[6],[8],[9],[12]
Par Amount	$ 46,837	[6],[8],[12]
Amortized Cost	46,403	[6],[8],[12]
Fair Value	$ 46,837	[6],[8],[12]
% of Net Assets	16.40%	[6],[8],[12]
Investment, Identifier [Axis]: Admiral's Cove Holdings Mezz LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	6.75%	[5],[6],[8],[12]
Interest Rate	11.60%	[6],[8],[9],[12]
Par Amount	$ 3,163	[6],[8],[12]
Amortized Cost	3,132	[6],[8],[12]
Fair Value	$ 3,163	[6],[8],[12]
% of Net Assets	1.10%	[6],[8],[12]
Investment, Identifier [Axis]: Blue Suede Hospitality Group, Hospitality
Schedule of Investments [Line Items]
Spread Above Reference Rate	4.40%	[5],[6],[7],[8],[10]
Interest Rate	9.25%	[6],[7],[8],[9],[10]
Par Amount	$ 18,336	[6],[7],[8],[10]
Amortized Cost	18,150	[6],[7],[8],[10]
Fair Value	$ 18,336	[6],[7],[8],[10]
% of Net Assets	6.40%	[6],[7],[8],[10]
Investment, Identifier [Axis]: CRP/RPM LYV Broadway GP, LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.80%	[5],[6],[8],[12]
Interest Rate	7.65%	[6],[8],[9],[12]
Par Amount	$ 44,250	[6],[8],[12]
Amortized Cost	43,933	[6],[8],[12]
Fair Value	$ 44,250	[6],[8],[12]
% of Net Assets	15.50%	[6],[8],[12]
Investment, Identifier [Axis]: CS Harvey, LTD., Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.90%	[5],[6],[8]
Interest Rate	7.75%	[6],[8],[9]
Par Amount	$ 35,200	[6],[8]
Amortized Cost	34,850	[6],[8]
Fair Value	$ 35,200	[6],[8]
% of Net Assets	12.30%	[6],[8]
Investment, Identifier [Axis]: DBGS 2024-SBL D, Industrials
Schedule of Investments [Line Items]
Spread Above Reference Rate	3.54%	[5],[6],[13]
Interest Rate	8.39%	[6],[9],[13]
Par Amount	$ 5,000	[6],[13]
Amortized Cost	4,988	[6],[13]
Fair Value	$ 5,002	[6],[13]
% of Net Assets	1.70%	[6],[13]
Investment, Identifier [Axis]: DK LDOI IV Aggregate Holdco LP, Hospitality
Schedule of Investments [Line Items]
Spread Above Reference Rate	4.03%	[5],[6],[8],[10]
Interest Rate	8.88%	[6],[8],[9],[10]
Par Amount	$ 41,900	[6],[8],[10]
Amortized Cost	41,498	[6],[8],[10]
Fair Value	$ 41,900	[6],[8],[10]
% of Net Assets	14.60%	[6],[8],[10]
Investment, Identifier [Axis]: Grand Cypress Apartments, LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.75%	[5],[6],[7],[8],[12]
Interest Rate	7.60%	[6],[7],[8],[9],[12]
Par Amount	$ 46,880	[6],[7],[8],[12]
Amortized Cost	46,511	[6],[7],[8],[12]
Fair Value	$ 46,880	[6],[7],[8],[12]
% of Net Assets	16.40%	[6],[7],[8],[12]
Investment, Identifier [Axis]: Hallandale Oasis 2019 Holdings LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	11.00%	[5],[6],[7],[8]
Interest Rate	15.85%	[6],[7],[8],[9]
Par Amount	$ 4,292	[6],[7],[8]
Amortized Cost	4,204	[6],[7],[8]
Fair Value	$ 4,291	[6],[7],[8]
% of Net Assets	1.50%	[6],[7],[8]
Investment, Identifier [Axis]: Hallandale Oasis 2019 LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	8.30%	[5],[6],[7],[8]
Interest Rate	13.15%	[6],[7],[8],[9]
Par Amount	$ 5,499	[6],[7],[8]
Amortized Cost	5,286	[6],[7],[8]
Fair Value	$ 5,499	[6],[7],[8]
% of Net Assets	1.90%	[6],[7],[8]
Investment, Identifier [Axis]: NYC 2024-3ELV C, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.84%	[5],[6],[13]
Interest Rate	7.69%	[6],[9],[13]
Par Amount	$ 8,875	[6],[13]
Amortized Cost	8,853	[6],[13]
Fair Value	$ 8,879	[6],[13]
% of Net Assets	3.10%	[6],[13]
Investment, Identifier [Axis]: Paraiso 256, LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.75%	[5],[6],[7],[8],[12]
Interest Rate	7.60%	[6],[7],[8],[9],[12]
Par Amount	$ 26,295	[6],[7],[8],[12]
Amortized Cost	26,075	[6],[7],[8],[12]
Fair Value	$ 26,295	[6],[7],[8],[12]
% of Net Assets	9.20%	[6],[7],[8],[12]
Investment, Identifier [Axis]: Racetrack Properties I, LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.95%	[5],[6],[8]
Interest Rate	7.80%	[6],[8],[9]
Par Amount	$ 44,300	[6],[8]
Amortized Cost	43,859	[6],[8]
Fair Value	$ 44,300	[6],[8]
% of Net Assets	15.50%	[6],[8]
Investment, Identifier [Axis]: SL 418, LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.75%	[5],[6],[7],[8],[12]
Interest Rate	7.60%	[6],[7],[8],[9],[12]
Par Amount	$ 46,385	[6],[7],[8],[12]
Amortized Cost	46,026	[6],[7],[8],[12]
Fair Value	$ 46,385	[6],[7],[8],[12]
% of Net Assets	16.20%	[6],[7],[8],[12]
Investment, Identifier [Axis]: Silver Star Delray, LLC, Self Storage
Schedule of Investments [Line Items]
Spread Above Reference Rate	3.50%	[5],[6],[8],[12]
Interest Rate	8.35%	[6],[8],[9],[12]
Par Amount	$ 15,530	[6],[8],[12]
Amortized Cost	15,387	[6],[8],[12]
Fair Value	$ 15,556	[6],[8],[12]
% of Net Assets	5.40%	[6],[8],[12]
Investment, Identifier [Axis]: Smart Living Texas City MM, LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	3.80%	[5],[6],[8],[12]
Interest Rate	8.65%	[6],[8],[9],[12]
Par Amount	$ 14,200	[6],[8],[12]
Amortized Cost	14,089	[6],[8],[12]
Fair Value	$ 14,200	[6],[8],[12]
% of Net Assets	5.00%	[6],[8],[12]
Investment, Identifier [Axis]: VCP Manager LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	3.10%	[5],[6],[8]
Interest Rate	7.95%	[6],[8],[9]
Par Amount	$ 29,380	[6],[8]
Amortized Cost	29,091	[6],[8]
Fair Value	$ 29,380	[6],[8]
% of Net Assets	10.30%	[6],[8]
Investment, Identifier [Axis]: WHK Waterfront Urban Renewal LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	5.50%	[5],[6],[7],[8]
Interest Rate	10.35%	[6],[7],[8],[9]
Par Amount	$ 3,190	[6],[7],[8]
Amortized Cost	2,730	[6],[7],[8]
Fair Value	$ 3,195	[6],[7],[8]
% of Net Assets	1.10%	[6],[7],[8]
Investment, Identifier [Axis]: Woodbine MF TIC 1 LLC, Multifamily
Schedule of Investments [Line Items]
Spread Above Reference Rate	2.75%	[5],[6],[8],[10]
Interest Rate	7.60%	[6],[8],[9],[10]
Par Amount	$ 13,680	[6],[8],[10]
Amortized Cost	13,547	[6],[8],[10]
Fair Value	$ 13,680	[6],[8],[10]
% of Net Assets	4.80%	[6],[8],[10]

[1] All of the Company’s investments are Non-Control/Non-Affiliate investments. Non-Control/Non-Affiliate investments as defined by the 1940 Act, are those that are neither Control nor Affiliate investments and in which we own less than 25.0%/5.0% of the issued and outstanding voting securities.

[2] All debt investments are income-producing, unless otherwise noted.

[3] All investments are U.S. domiciled.

[4] All of the Company's investments, except the investments noted by this footnote, are qualifying assets under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company's total assets. As of September 30, 2024, qualifying assets represent 100.0% of the Company's total assets.

[5] The investments herein bear interest at rates that may be determined by reference to Secured Overnight Financing Rate (“SOFR”), which typically resets monthly or quarterly. For each such investment, the Company has provided the spread over SOFR and the current contractual interest rate in effect at September 30, 2024. As of September 30, 2024, rates for 1M SOFR, 3M SOFR, 6M SOFR, 12M SOFR are 4.85%, 4.59%, 4.25%, and 3.78%, respectively. Certain investments are subject to a SOFR floor.

[6] Represents co-investments made with the Company’s affiliates. Refer to Note 3 - Related Party Transactions.

[7] The Company’s investment or a portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. Refer to Note 7 - Commitments and Contingencies.

[8] The fair value of investments with respect to securities for which market quotations are not readily available is determined in good faith by the Company's Board (as defined below) as required by the Investment Company Act of 1940, as amended (the “1940 Act”). Such investments are valued using significant unobservable inputs. Refer to Note 5 - Fair Value Measurement.

[9] Interest rates on investments are annualized.

[10] The Company’s investment or a portion thereof is pledged as collateral under the JPM Credit Facility (as defined in Note 6).

[11] The Company’s investment or a portion thereof is pledged as collateral under the Webster Warehouse Facility (as defined in Note 6.)

[12] The Company’s investment or a portion thereof is pledged as collateral under the Barclay’s Warehouse Facility (as defined in Note 6).

[13] The Company’s investment or a portion thereof is pledged as collateral under the JPM Repo Facility (as defined in Note 6).