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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows provided by operating activities:    
Net income $ 83,359 $ 28,956
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of discount/premium and PIK interest (7,934) (4,445)
Amortization of deferred financing costs 2,761 2,038
Equity-based compensation 4,921 1,258
Unrealized loss on securities 1,658 26,802
Provision for loan losses and impairment 5,000 15,000
Income (loss) from unconsolidated joint venture 2,259 (127)
Foreign currency (gain) loss (10,014) 17,559
Realized (gain) loss on derivative instruments 110 (5,989)
Unrealized loss on derivative instruments 10,433 (12,026)
Realized loss on sale of security 1,042 0
Changes in operating assets and liabilities:    
Accrued interest receivable, less purchased interest (16,717) (16,888)
Other assets (1,017) (9,117)
Accounts payable, accrued expenses and other liabilities (5,127) 2,124
Payable to related party 728 (55)
Net cash provided by operating activities 71,462 45,090
Cash flows used in investing activities:    
Funding of commercial mortgage loans, net of fees received (395,177) (313,607)
Funding of subordinate loans, net of fees received (222,296) (40,920)
Funding of unconsolidated joint venture (726) (362)
Funding of other assets (1,379) 0
Proceeds (payments) on settlements of derivative instruments (201) 5,989
Increase in collateral held related to derivative contracts (22) 13,210
Proceeds from sale of securities 69,248 0
Proceeds from sale of investment in unconsolidated joint venture 24,498 0
Payments received on securities 1,930 14,545
Payments received on securities, held-to-maturity 146,530 1,500
Payments received on commercial mortgage loans 10,452 36,044
Payments received on subordinate loans 58,740 26,538
Payments received on other assets 0 51
Net cash used in investing activities (308,403) (257,012)
Cash flows from financing activities:    
Proceeds from issuance of common stock 249,021 0
Payment of offering costs (359) (45)
Proceeds from repurchase agreement borrowings 464,153 380,458
Repayments of repurchase agreement borrowings (272,878) (80,137)
Repayments of participations sold (85,081) (1,013)
Payment of deferred financing costs (5,343) (2,846)
Dividends on common stock (85,724) (63,183)
Dividends on preferred stock (18,620) (12,786)
Net cash provided by financing activities 245,169 220,448
Net increase in cash, cash equivalents, and restricted cash 8,228 8,527
Cash, cash equivalents, and restricted cash, beginning of period 263,453 97,542
Cash, cash equivalents, and restricted cash, end of period 271,681 106,069
Supplemental disclosure of cash flow information:    
Interest paid 11,916 26,991
Supplemental disclosure of non-cash investing and financing activities:    
Dividend declared, not yet paid 57,464 36,427
Offering costs payable $ 41 $ 220