XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
USD ($)
Jun. 30, 2016
USD ($)
Dec. 31, 2015
USD ($)
Assets:      
Cash $ 38,631 $ 38,631 $ 67,415
Restricted cash 67,438 67,438 30,127
Securities, at estimated fair value 452,704 452,704 493,149
Securities, held-to-maturity 151,726 151,726 153,193
Investment in unconsolidated joint venture 23,571 23,571 22,583
Derivative assets 15,342 15,342 3,327
Interest receivable 19,185 19,185 16,908
Other assets 9,297 9,297 236
Total Assets 2,979,087 2,979,087 2,712,590
Liabilities:      
Borrowings under repurchase agreements (net of deferred financing costs of $8,160 and $7,353 in 2016 and 2015, respectively) 1,217,935 1,217,935 918,421
Convertible senior notes, net 249,069 249,069 248,173
Participations sold 114,387 114,387 118,201
Accounts payable and accrued expenses 24,504 24,504 9,246
Related party expenses 5,242 10,471  
Payable to related party 5,242 5,242 5,297
Dividends payable 36,427 36,427 37,828
Total Liabilities 1,647,564 1,647,564 1,337,166
Commitments and Contingencies
Stockholders’ Equity:      
Common stock, $0.01 par value, 450,000,000 shares authorized, 67,402,311 and 67,195,252 shares issued and outstanding in 2016 and 2015, respectively 674 674 672
Additional paid-in-capital 1,411,420 1,411,420 1,410,138
Accumulated deficit (77,939) (77,939) (32,328)
Accumulated other comprehensive loss (2,747) (2,747) (3,173)
Total Stockholders’ Equity 1,331,523 1,331,523 1,375,424
Total Liabilities and Stockholders’ Equity 2,979,087 2,979,087 2,712,590
Commercial mortgage loans [Member]      
Assets:      
Loans, held for investment 1,278,034 1,278,034 994,301
Subordinate loans [Member]      
Assets:      
Loans, held for investment 923,159 923,159 931,351
Series A Preferred stock [Member]      
Stockholders’ Equity:      
Preferred stock 35 35 35
Series B Preferred stock [Member]      
Stockholders’ Equity:      
Preferred stock $ 80 $ 80 $ 80