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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Assets:    
Cash $ 20,158 $ 40,641
Restricted cash 30,127 30,127
Securities available-for-sale, at estimated fair value 0 17,105
Securities, at estimated fair value 512,485 522,730
Securities, held-to-maturity 153,799 154,283
Investment in unconsolidated joint venture 20,183 37,016
Derivative assets 246 4,070
Interest receivable 14,424 10,829
Deferred financing costs, net 8,125 7,444
Other assets 767 1,200
Total Assets 2,527,803 1,845,147
Liabilities:    
Borrowings under repurchase agreements 735,437 622,194
Convertible senior notes, net 247,736 246,464
Participations sold 119,407 89,584
Accounts payable and accrued expenses 4,668 7,578
Payable to related party 4,100 3,240
Dividends payable 32,060 21,018
Total Liabilities $ 1,143,408 $ 990,078
Commitments and Contingencies
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 67,145,252 and 46,900,442 shares issued and outstanding, respectively $ 671 $ 469
Additional paid-in-capital 1,408,448 868,035
Retained earnings (accumulated deficit) (22,225) (10,485)
Accumulated other comprehensive loss (2,614) (2,985)
Total Stockholders’ Equity 1,384,395 855,069
Total Liabilities and Stockholders’ Equity 2,527,803 1,845,147
Commercial mortgage loans [Member]    
Assets:    
Loans, held for investment 905,681 458,520
Subordinate loans [Member]    
Assets:    
Loans, held for investment 861,808 561,182
Series A Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock 35 35
Series B Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock $ 80 $ 0