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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Assets:    
Cash and cash equivalents $ 116,472 $ 109,806
Commercial mortgage loans and subordinate loans, net 5,443,744 4,927,593
Other assets 40,072 33,720
Derivative assets 19,502 23,700
Loan proceeds held by servicer 4,619 1,000
Total Assets 5,624,409 5,095,819
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $18,246 and $17,555 in 2019 and 2018, respectively) 1,783,057 1,879,522
Convertible senior notes, net 559,619 592,000
Senior secured term loan, net (net of deferred financing costs of $7,333 and $0 in 2019 and 2018, respectively) 490,226 0
Derivative liabilities 13,113 0
Accounts payable, accrued expenses and other liabilities 96,736 104,746
Payable to related party 10,259 9,804
Total Liabilities 2,953,010 2,586,072
Commitments and Contingencies (see Note 15)
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 153,531,597 and 133,853,565 shares issued and outstanding in 2019 and 2018, respectively 1,535 1,339
Additional paid-in-capital 2,817,542 2,638,441
Accumulated deficit (147,746) (130,170)
Total Stockholders’ Equity 2,671,399 2,509,747
Total Liabilities and Stockholders’ Equity 5,624,409 5,095,819
Commercial Mortgage Portfolio Segment    
Assets:    
Commercial mortgage loans and subordinate loans, net 4,206,754 3,878,981
Subordinate Mortgage Portfolio Segment    
Assets:    
Commercial mortgage loans and subordinate loans, net 1,236,990 1,048,612
Series B Preferred Stock    
Stockholders’ Equity:    
Preferred stock 68 68
Series C Preferred Stock    
Stockholders’ Equity:    
Preferred stock $ 0 $ 69