XML 36 R26.htm IDEA: XBRL DOCUMENT v3.8.0.1

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In October 2017, the Company received approximately $48,357 in proceeds from sales and principal pay downs from four CMBS. Subsequent to the end of the third quarter, the Company committed capital to $294,134 of first mortgage loans, all of which were funded. The Company funded approximately $2,475 of previously closed loans. The Company received approximately $166,240 from loan repayments, including $35,530 of first mortgage loans and $130,710 from subordinate loans. In October 2017, the Company concurrently entered into a common stock purchase agreement and a preferred stock repurchase agreement with QH RE Asset Company, LLC (“QHREAC”). Pursuant to the agreements, (i) QHREAC purchased 1,670,000 shares of the Company’s common stock, par value $0.01 per share, for cash at an aggregate purchase price of $30,795 ($18.44 per share), and (ii) the Company repurchased from QHREAC 1,229,607 shares of the Company’s Series B Preferred Stock, par value $0.01 per share, for an aggregate purchase price of $30,795 ( approximately $25.04 per share, made up of $25 liquidation value per share, plus $0.04 per share of accumulated and unpaid dividends through, but not including, the closing date of the transaction). In October 2017, the Company upsized its JPMorgan Facility increasing the maximum borrowing capacity amount to $1,393,000, comprised of a $1,250,000 repurchase facility and a $143,000 asset specific financing.

X

- References

No definition available.

+ Details

Name:	us-gaap_SubsequentEventsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 855
-URI http://asc.fasb.org/topic&trid=2122774

+ Details

Name:	us-gaap_SubsequentEventsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration