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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Assets:    
Cash $ 140,229 $ 200,996
Restricted cash 76 62,457
Securities, at estimated fair value 191,902 331,076
Securities, held-to-maturity 0 146,352
Total loans, held for investment, net 3,558,600 2,693,092
Investment in unconsolidated joint venture 0 22,103
Derivative assets, net 0 5,906
Interest receivable 27,895 19,281
Other assets, net 14,240 1,714
Total Assets 3,932,942 3,482,977
Liabilities:    
Borrowings under repurchase agreements (net of deferred financing costs of $10,884 and $6,763 in 2017 and 2016, respectively) 1,278,631 1,139,803
Convertible senior notes, net 471,911 249,994
Participations sold 0 84,979
Derivative liabilities, net 11,746 0
Accounts payable, accrued expenses and other liabilities 8,852 17,681
Payable to related party 8,309 7,015
Dividends payable 55,916 51,278
Total Liabilities 1,835,365 1,550,750
Commitments and Contingencies (see Note 14)
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 105,451,235 and 91,422,676 shares issued and outstanding in 2017 and 2016, respectively 1,055 914
Additional paid-in-capital 2,163,539 1,983,010
Accumulated deficit (67,166) (48,070)
Accumulated other comprehensive loss 0 (3,811)
Total Stockholders’ Equity 2,097,577 1,932,227
Total Liabilities and Stockholders’ Equity 3,932,942 3,482,977
Commercial Mortgage Portfolio Segment [Member]    
Assets:    
Total loans, held for investment, net 2,218,222 1,641,856
Subordinate Mortgage Portfolio Segment [Member]    
Assets:    
Total loans, held for investment, net 1,340,378 1,051,236
Series A Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock 0 35
Series B Preferred stock [Member]    
Stockholders’ Equity:    
Preferred stock 80 80
Series C Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock $ 69 $ 69