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Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Assets:    
Cash $ 77,671,000 $ 200,996,000
Restricted cash 0 62,457,000
Securities, at estimated fair value 0 331,076,000
Securities, held-to-maturity 0 146,352,000
Carrying value 3,679,758,000 2,693,092,000
Investment in unconsolidated joint venture 0 22,103,000
Derivative assets, net 0 5,906,000
Loan proceeds held by servicer 302,756,000 0
Other assets 28,420,000 20,995,000
Total Assets 4,088,605,000 3,482,977,000
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $14,348 and $6,763 in 2017 and 2016, respectively) 1,330,847,000 1,139,803,000
Convertible senior notes, net 584,897,000 249,994,000
Participations sold 0 84,979,000
Derivative liabilities, net 5,644,000 0
Accounts payable, accrued expenses and other liabilities 70,906,000 68,959,000
Payable to related party 8,168,000 7,015,000
Total Liabilities 2,000,462,000 1,550,750,000
Commitments and Contingencies (see Note 17) 0 0
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 107,121,235 and 91,422,676 shares issued and outstanding in 2017 and 2016, respectively 1,071,000 914,000
Additional paid-in-capital 2,170,078,000 1,983,010,000
Accumulated deficit (83,143,000) (48,070,000)
Accumulated other comprehensive loss 0 (3,811,000)
Total Stockholders’ Equity 2,088,143,000 1,932,227,000
Total Liabilities and Stockholders’ Equity 4,088,605,000 3,482,977,000
Commercial Mortgage Portfolio Segment [Member]    
Assets:    
Carrying value 2,653,826,000 1,641,856,000
Subordinate Mortgage Portfolio Segment [Member]    
Assets:    
Carrying value 1,025,932,000 1,051,236,000
Series A Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock 0 35,000
Series B Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock 68,000 80,000
Series C Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock $ 69,000 $ 69,000