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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows provided by operating activities:    
Net income $ 28,956 $ 50,169
Adjustments to reconcile net income to net cash provided by operating activities:    
Premium amortization and (discount accretion) on assets, net (4,445) (5,040)
Amortization of deferred financing costs 2,038 1,377
Equity-based compensation 1,258 1,817
Unrealized (gain) loss on securities 26,802 (1,136)
Provision for loan losses 15,000 0
Income from unconsolidated joint venture (127) (384)
Foreign currency (gain) loss 17,559 (2,329)
Realized (gain) loss on derivative instruments (5,989) 0
Unrealized (gain) loss on derivative instruments (12,026) 6,241
Realized (gain) loss on sale of security 0 443
Changes in operating assets and liabilities:    
Accrued interest receivable, less purchased interest (16,888) (12,328)
Other assets (9,117) 371
Accounts payable and accrued expenses 2,124 644
Payable to related party (55) 650
Net cash provided by operating activities 45,090 40,495
Cash flows used in investing activities:    
Funding of commercial mortgage loans (313,607) (270,182)
Funding of subordinate loans (40,920) (278,929)
Funding of unconsolidated joint venture (362) (3,929)
Funding of other assets 0 (8)
Funding of derivative instruments 0 (327)
Proceeds on settlements of derivative instruments 5,989 0
Increase in collateral held related to derivative contracts 13,210 0
Increase in restricted cash related to investing activities (37,310) (4,420)
Proceeds from sale of securities available-for-sale 0 17,291
Proceeds from sale of securities at estimated fair value 0 6,338
Proceeds from sale of investment in unconsolidated joint venture 0 20,794
Principal payments received on securities at estimated fair value 14,545 32
Principal payments received on securities, held-to-maturity 1,500 250
Principal payments received on commercial mortgage loans 36,044 28,474
Principal payments received on subordinate loans 26,538 24,435
Principal payments received on other assets 51 125
Net cash used in investing activities (294,322) (460,056)
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 193,430
Payment of offering costs (45) (279)
Proceeds from repurchase agreement borrowings 380,458 456,017
Repayments of repurchase agreement borrowings (80,137) (199,860)
Proceeds from participations sold 0 30,484
Repayments of participations sold (1,013) (220)
Increase in restricted cash related to financing activities 0 0
Payment of deferred financing costs (2,846) (2,830)
Dividends on common stock (63,183) (45,254)
Dividends on preferred stock (12,786) (3,720)
Net cash provided by financing activities 220,448 427,768
Net decrease in cash and cash equivalents (28,784) 8,207
Cash and cash equivalents, beginning of period 67,415 40,641
Cash and cash equivalents, end of period 38,631 48,848
Supplemental disclosure of cash flow information:    
Interest paid 26,991 20,186
Supplemental disclosure of non-cash financing activities:    
Dividend declared, not yet paid 36,427 27,694
Offering costs payable $ 220 $ 65