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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows provided by operating activities:    
Net income $ 47,125 $ 18,616
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of discount/premium and PIK interest (3,517) (1,983)
Amortization of deferred financing costs 1,203 907
Equity-based compensation 1,461 (680)
Unrealized (gain) loss on securities (2,852) 15,074
Income (loss) from unconsolidated joint venture (458) (68)
Foreign currency (gain) loss (2,808) 4,517
Realized (gain) loss on derivative instruments 156 (6,083)
Unrealized loss on derivative instruments 2,897 1,380
Realized (gain) loss on sale of security 1,042 0
Changes in operating assets and liabilities:    
Accrued interest receivable, less purchased interest (10,871) (16,717)
Other assets (55) 183
Accounts payable and accrued expenses (8,011) (1,480)
Payable to related party 418 (68)
Net cash provided by operating activities 25,730 13,598
Cash flows used in investing activities:    
Funding of commercial mortgage loans, net of fees received (314,293) (178,574)
Funding of subordinate loans, net of fees received (171,695) (27,600)
Funding of unconsolidated joint venture (726) 0
Funding of other assets (1,379) 0
Proceeds (Payments) on settlements of derivative instruments (156) 6,083
Increase in collateral held related to derivative contracts (960) 870
Decrease in restricted cash 7,754 0
Proceeds from sale of securities 69,248 0
Principal payments received on securities available-for-sale 0 (25,653)
Principal payments received on securities 35 6,344
Principal payments received on securities, held-to-maturity 750 750
Principal payments received on commercial mortgage loans 6,337 14,824
Principal payments received on subordinate loans 37,738 19,829
Principal payments received on other assets 0 30
Net cash used in investing activities (367,347) (183,097)
Cash flows from financing activities:    
Repurchase of common stock 0 0
Payment of offering costs (58) (43)
Proceeds from repurchase agreement borrowings 407,955 230,425
Repayments of repurchase agreement borrowings (67,286) (64,883)
Repayments of participations sold (434) (507)
Payment of deferred financing costs (4,394) (1,205)
Dividends on common stock (42,947) (31,742)
Dividends on preferred stock (9,310) (6,926)
Net cash provided by financing activities 283,526 125,119
Net decrease in cash and cash equivalents (58,091) (44,380)
Cash and cash equivalents, beginning of period 200,996 67,415
Cash and cash equivalents, end of period 142,905 23,035
Supplemental disclosure of cash flow information:    
Interest paid 18,965 17,589
Supplemental disclosure of non-cash investing and financing activities:    
Dividend declared, not yet paid 51,109 36,421
Offering costs payable $ 222 $ 223