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Secured Debt Arrangements, Net (Tables) | 6 Months Ended
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Jun. 30, 2018
Debt Disclosure [Abstract] |
Weighted Average Maturities and Interest Rates of Borrowings | At June 30, 2018 and December 31, 2017, the Company’s borrowings had the following secured debt arrangements, maturities and weighted average interest rates ($ in thousands):
| June 30, 2018 (2) |  | December 31, 2017
| Maximum Amount of Borrowings |  | Borrowings Outstanding |  | Maturity (1) |  | Maximum Amount of Borrowings |  | Borrowings Outstanding |  | Maturity (1) |  | Weighted Average Rate (2)
JPMorgan Facility (USD) (3) | $ | 1,331,780 |  |  | $ | 950,634 |  |  | June 2021 |  | $ | 1,393,000 |  |  | $ | 944,529 |  |  | March 2020 |  | USD L + 2.30%
JPMorgan Facility (GBP) (3) | 50,220 |  |  | 50,220 |  |  | June 2021 |  | N/A |  |  | N/A |  |  | N/A |  | N/A
DB Repurchase Facility (USD) (4) | 698,824 |  |  | 469,200 |  |  | March 2021 |  | 472,090 |  |  | 225,367 |  |  | March 2020 |  | USD L + 2.56%
DB Repurchase Facility (GBP) (4) | 156,176 |  |  | 156,176 |  |  | March 2021 |  | 93,919 |  |  | 93,919 |  |  | March 2020 |  | GBP L + 2.60%
Goldman Facility | 300,000 |  |  | 209,014 |  |  | November 2020 |  | 331,130 |  |  | 81,380 |  |  | November 2020 |  | USD L + 2.73%
CS Facility | 145,937 |  |  | 145,937 |  |  | December 2018 |  | N/A |  |  | N/A |  |  | N/A |  | N/A
Sub-total | 2,682,937 |  |  | 1,981,181 |  |  |  |  | 2,290,139 |  |  | 1,345,195 |  |  |  |  |
less: deferred financing costs | N/A |  |  | (20,307 | ) |  |  |  | N/A |  |  | (14,348 | ) |  |  |  | N/A
Total / Weighted Average | $ | 2,682,937 |  |  | $ | 1,960,874 |  |  | $ | 2,290,139 |  |  | $ | 1,330,847 |  |  | USD L + 2.37% /
| GBP L + 2.60%
——————— (1) Maturity date assumes extensions at the Company's option are exercised. (2) Weighted average rate as of June 30, 2018 was USD L + 2.27% / GBP L + 2.30%. (3) As of June 30, 2018, the Company's secured debt arrangements with JPMorgan Chase Bank, National Association (the "JPMorgan Facility") provided for maximum total borrowings comprised of a $1.3 billion repurchase facility and $132.0 million of an asset specific financing. (4) As of June 30, 2018, the Company's secured debt arrangements with Deutsche Bank AG, Cayman Islands Branch and Deutsche Bank AG, London Branch (the "DB Repurchase Facility") provided for maximum total borrowings comprised of a $800.0 million repurchase facility and a $55.0 million asset specific financing.
Remaining Maturities of Borrowings | At June 30, 2018, the Company’s borrowings had the following remaining maturities ($ in thousands):
| Less than 1 year (1) |  | 1 to 3 years (1) |  | 3 to 5 years |  | More than 5 years |  | Total
JPMorgan Facility | $ | 115,615 |  |  | $ | 885,239 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,000,854 |
DB Repurchase Facility | 123,816 |  |  | 501,560 |  |  | — |  |  | — |  |  | 625,376 |
Goldman Facility | — |  |  | 209,014 |  |  | — |  |  | — |  |  | 209,014 |
CS Facility | 145,937 |  |  | — |  |  | — |  |  | — |  |  | 145,937 |
Total | $ | 385,368 |  |  | $ | 1,595,813 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,981,181 |
——————— (1) Assumes underlying assets are financed through the fully extended maturity date of the facility.
Schedule of Outstanding, Maximum and Average Balances of Debt | The table below summarizes the outstanding balances at June 30, 2018, as well as the maximum and average month-end balances for the six months ended June 30, 2018 for the Company's borrowings under secured debt arrangements ($ in thousands).
|  |  |  |  | For the six months ended June 30, 2018
| Balance at June 30, 2018 |  | Amortized Cost of Collateral at June 30, 2018 |  | Maximum Month-End Balance |  | Average Month-End Balance
JPMorgan Facility | $ | 1,000,854 |  |  | $ | 1,601,812 |  |  | $ | 1,000,854 |  |  | $ | 865,101 |
DB Repurchase Facility | 625,376 |  |  | 1,010,503 |  |  | 632,990 |  |  | 446,571 |
Goldman Facility | 209,014 |  |  | 280,699 |  |  | 236,764 |  |  | 135,123 |
CS Facility | 145,937 |  |  | 222,902 |  |  | 145,937 |  |  | 24,323 |
Total | $ | 1,981,181 |  |  | $ | 3,115,916 |  |  |  |  |

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