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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2018
Cash flows from operating activities:            
Net income (loss) $ 24,530 $ 67,798        
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:            
(Gain) loss on extinguishment/defeasance of debt 1,070 69        
Depreciation and amortization 10,227 10,823        
Unrealized (gain) loss on derivative instruments (2,491) (1,772)        
Unrealized (gain) loss on equity securities (2,078) 0        
Unrealized (gain) loss on Agency interest-only securities (11) (204)        
Unrealized (gain) loss on investment in mutual fund (151) (43)        
Provision for loan losses 300 3,000        
Impairment of real estate 1,350 0 $ 0      
Amortization of equity based compensation 11,292 2,400        
Amortization of deferred financing costs included in interest expense 2,738 2,328        
Amortization of premium on mortgage loan financing (386) (253)        
Amortization of above- and below-market lease intangibles (144) (382)        
Amortization of premium/(accretion) of discount and other fees on loans (5,389) (4,794)        
Amortization of premium/(accretion) of discount and other fees on securities (113) 1,000        
Realized (gain) loss on sale of mortgage loan receivables held for sale (7,079) (4,888)        
Realized (gain) loss on real estate securities (2,865) 1,099        
Realized gain on sale of real estate, net (4) (31,010)        
Realized gain on sale of derivative instruments (8) (13)        
Origination of mortgage loan receivables held for sale (175,256) (532,878)        
Repayment of mortgage loan receivables held for sale 193 133        
Proceeds from sales of mortgage loan receivables held for sale 159,424 439,261        
(Income) loss from investments in unconsolidated joint ventures in excess of distributions received (959) (52)        
Distributions from operations of investment in unconsolidated joint ventures 3,067 0        
Deferred tax asset (liability) 3,139 443        
Changes in operating assets and liabilities:            
Accrued interest receivable 347 (1,349)        
Other assets 92 6,157        
Accrued expenses and other liabilities (42,869) (21,991)        
Net cash provided by (used in) operating activities (22,034) (65,118)        
Cash flows from investing activities:            
Purchase of derivative instruments (159) 0        
Sale of derivative instruments 50 114        
Purchases of real estate securities (384,478) (135,072)        
Repayment of real estate securities 24,188 2,954        
Proceeds from sales of real estate securities 209,166 122,356        
Purchase of FHLB stock 3,704 0        
Origination of mortgage loan receivables held for investment (224,418) (434,632)        
Repayment of mortgage loan receivables held for investment 294,074 194,303        
Basis recovery of Agency interest-only securities 3,333 5,407        
Capital contributions and advances to investment in unconsolidated joint ventures (56,424) 0        
Capital distribution from investment in unconsolidated joint ventures 0 1,250        
Capitalization of interest on investment in unconsolidated joint ventures (142) (322)        
Purchases of real estate (2,406) (24,466)        
Capital improvements of real estate (907) (1,883)        
Proceeds from sale of real estate 1,688 87,885        
Net cash provided by (used in) investing activities (140,139) (182,106)        
Cash flows from financing activities:            
Deferred financing costs paid (3,899) (1,240)        
Proceeds from borrowings under debt obligations 4,042,942 1,312,451        
Repayment of borrowings under debt obligations (3,765,720) (1,057,704)        
Cash dividends paid to Class A common shareholders (72,150) (59,721)        
Payment of liability assumed in exchange for shares for the minimum withholding taxes on vesting restricted stock (7,985) (728)        
Net cash provided by (used in) financing activities 188,956 177,700        
Net increase (decrease) in cash, cash equivalents and restricted cash 26,783 (69,524)        
Cash, cash equivalents and restricted cash at beginning of period 98,450 182,683 182,683      
Cash, cash equivalents and restricted cash at end of period 125,233 113,159 98,450      
Supplemental information:            
Cash paid for interest, net of amounts capitalized 63,985 57,406        
Cash paid (received) for income taxes 1,102 90        
Non-cash investing and financing activities:            
Securities and derivatives purchased, not settled 49,766 14        
Securities and derivatives sold, not settled (5,514) 0        
Repayment in transit of mortgage loans receivable held for investment (other assets) 20,653 54,803        
Settlement of mortgage loan receivable held for investment by real estate (17,851) 0        
Transfer from mortgage loans receivable held for sale to mortgage loans receivable held for investment, at amortized cost 15,504 55,403        
Real estate acquired in settlement of mortgage loan receivable held for investment 17,851 0        
Capital contributions to investment in unconsolidated joint ventures       $ 970   $ 0
Reduction in proceeds from sales of real estate 0 11,050        
Assumption of debt obligations by real estate buyer/defeasance of debt and related costs 0 (11,050)        
Exchange of noncontrolling interest for common stock 1,437 59,658        
Dividends declared, not paid 1,409 1,228        
Stock dividends 23,824 0        
Cash and cash equivalents       45,158 [1] $ 67,878 [1] 68,373
Restricted cash       80,075 30,572 44,786
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows 98,450 182,683 $ 182,683 $ 125,233 $ 98,450 $ 113,159
Consolidated Joint Venture            
Cash flows from financing activities:            
Capital contributed by noncontrolling interests in consolidated joint ventures 77 2,635        
Capital distributed to noncontrolling interests (56) (13,720)        
Operating Partnership            
Cash flows from financing activities:            
Capital distributed to noncontrolling interests $ (4,253) $ (4,273)        
[1] Includes amounts relating to consolidated variable interest entities. See Note 3.