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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Assets:    
Cash $ 254,643 $ 67,415
Restricted cash 62,324 30,127
Securities, at estimated fair value 347,456 493,149
Securities, held-to-maturity 147,190 153,193
Investment in unconsolidated joint venture 23,765 22,583
Derivative assets 5,037 3,327
Interest receivable 18,025 16,908
Other assets 31,303 236
Total Assets 3,198,947 2,712,590
Liabilities:    
Borrowings under repurchase agreements (net of deferred financing costs of $7,875 and $7,353 in 2016 and 2015, respectively) 1,013,162 918,421
Convertible senior notes, net 249,528 248,173
Participations sold 110,924 118,201
Accounts payable and accrued expenses 26,367 9,246
Payable to related party 5,903 5,297
Dividends payable 46,028 37,828
Total Liabilities 1,451,912 1,337,166
Commitments and Contingencies
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 80,826,566 and 67,195,252 shares issued and outstanding in 2016 and 2015, respectively 808 672
Additional paid-in-capital 1,803,667 1,410,138
Accumulated deficit (54,950) (32,328)
Accumulated other comprehensive loss (2,674) (3,173)
Total Stockholders’ Equity 1,747,035 1,375,424
Total Liabilities and Stockholders’ Equity 3,198,947 2,712,590
Commercial Mortgage Portfolio Segment [Member]    
Assets:    
Loans, held for investment 1,426,990 994,301
Subordinate Mortgage Portfolio Segment [Member]    
Assets:    
Loans, held for investment 882,214 931,351
Series A Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock 35 35
Series B Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock 80 80
Series C Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock $ 69 $ 0