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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Assets:    
Cash and cash equivalents $ 160,934 $ 109,806
Commercial mortgage loans and subordinate loans and other lending assets, net 6,114,574 4,927,593
Other assets 37,858 33,720
Derivative assets, net 35,729 23,700
Loan proceeds held by servicer 3,323 1,000
Total Assets 6,352,418 5,095,819
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $18,031 and $17,555 in 2019 and 2018, respectively) 2,541,287 1,879,522
Convertible senior notes, net 560,589 592,000
Senior secured term loan, net (net of deferred financing costs of $7,452 and $0 in 2019 and 2018, respectively) 488,947 0
Accounts payable, accrued expenses and other liabilities 98,231 104,746
Derivative liabilities 23,420 0
Payable to related party 10,434 9,804
Total Liabilities 3,722,908 2,586,072
Commitments and Contingencies (see Note 15)
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 153,531,756 and 133,853,565 shares issued and outstanding in 2019 and 2018, respectively 1,535 1,339
Additional paid-in-capital 2,821,419 2,638,441
Accumulated deficit (193,512) (130,170)
Total Stockholders’ Equity 2,629,510 2,509,747
Total Liabilities and Stockholders’ Equity 6,352,418 5,095,819
Commercial Mortgage Portfolio Segment    
Assets:    
Commercial mortgage loans and subordinate loans and other lending assets, net 4,779,501 3,878,981
Subordinate Mortgage Portfolio Segment    
Assets:    
Commercial mortgage loans and subordinate loans and other lending assets, net 1,335,073 1,048,612
Series B Preferred Stock    
Stockholders’ Equity:    
Preferred stock 68 68
Series C Preferred Stock    
Stockholders’ Equity:    
Preferred stock $ 0 $ 69