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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Assets:    
Cash and cash equivalents $ 109,806 $ 77,671
Commercial mortgage loans and subordinate loans, net 4,927,593 3,679,758
Loan proceeds held by servicer 1,000 302,756
Other assets 33,720 28,420
Derivative assets, net 23,700 0
Total Assets 5,095,819 4,088,605
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $17,555 and $14,348 in 2018 and 2017, respectively) 1,879,522 1,330,847
Convertible senior notes, net 592,000 584,897
Derivative liabilities, net 0 5,644
Accounts payable, accrued expenses and other liabilities 104,746 70,906
Payable to related party 9,804 8,168
Total Liabilities 2,586,072 2,000,462
Commitments and Contingencies (see Note 16)
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 133,853,565 and 107,121,235 shares issued and outstanding in 2018 and 2017, respectively 1,339 1,071
Additional paid-in-capital 2,638,441 2,170,078
Accumulated deficit (130,170) (83,143)
Total Stockholders’ Equity 2,509,747 2,088,143
Total Liabilities and Stockholders’ Equity 5,095,819 4,088,605
Commercial Mortgage Portfolio Segment [Member]    
Assets:    
Commercial mortgage loans and subordinate loans, net 3,878,981 2,653,826
Subordinate Mortgage Portfolio Segment [Member]    
Assets:    
Commercial mortgage loans and subordinate loans, net 1,048,612 1,025,932
Series B Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock 68 68
Series C Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock $ 69 $ 69