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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows (used in) provided by operating activities:    
Net income $ 67,758 $ 49,433
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of discount/premium and PIK (19,611) (15,695)
Amortization of deferred financing costs 3,461 2,545
Equity-based compensation (1,095) (1,385)
Foreign currency gain (5,828) (9,853)
Unrealized loss on derivative instruments 14,985 8,855
Changes in operating assets and liabilities:    
Proceeds received from PIK 0 55,000
Other assets (2,898) (2,620)
Accounts payable, accrued expenses and other liabilities 620 2,075
Payable to related party (191) (76)
Net cash (used in) provided by operating activities 57,201 88,279
Cash flows used in investing activities:    
New funding of commercial mortgage loans (197,000) (476,951)
Add-on funding of commercial mortgage loans (105,452) (13,185)
New funding of subordinate loans (244,844) (11,687)
Add-on funding of subordinate loans (4,879) (5,208)
Proceeds and payments received on commercial mortgage loans 191,317 90,547
Proceeds and payments received on subordinate loans 130,010 257,548
Origination and exit fees received on commercial mortgage and subordinate loans 6,069 19,085
Decrease in collateral held related to derivative contracts (18,180) (15,220)
Net cash (used in) provided by investing activities (242,959) (155,071)
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 275,879
Payment of offering costs 0 (38)
Proceeds from secured debt arrangements 412,434 416,549
Repayments of secured debt arrangements (156,747) (538,562)
Exchanges and conversions of convertible senior notes (704) 0
Payment of deferred financing costs (91) (2,234)
Dividends on common stock (62,762) (57,328)
Dividends on preferred stock (6,835) (6,835)
Net cash (used in) provided by financing activities 185,295 87,431
Net increase (decrease) in cash and cash equivalents (463) 20,639
Cash and cash equivalents, beginning of period 109,806 77,671
Cash and cash equivalents, end of period 109,343 98,310
Supplemental disclosure of cash flow information:    
Interest paid 32,428 26,517
Supplemental disclosure of non-cash financing activities:    
Exchange of convertible senior notes for common stock 33,778 0
Dividend declared, not yet paid 70,364 63,598
Offering costs payable 0 339
Loan proceeds held by servicer 0 1,000
Deferred financing costs, not yet paid $ 3,643 $ 0