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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Assets:    
Cash and cash equivalents $ 452,282 $ 109,806
Commercial mortgage loans and subordinate loans and other lending assets, net 6,375,093 4,927,593
Other assets 52,716 33,720
Loan proceeds held by servicer 8,272 1,000
Derivative assets, net 0 23,700
Total Assets 6,888,363 5,095,819
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $17,190 and $17,555 in 2019 and 2018, respectively) 3,078,366 1,879,522
Convertible senior notes, net 561,573 592,000
Senior secured term loan, net (net of deferred financing costs of $7,277 and $0 in 2019 and 2018, respectively) 487,961 0
Accounts payable, accrued expenses and other liabilities 100,712 104,746
Derivative liabilities, net 19,346 0
Payable to related party 10,430 9,804
Total Liabilities 4,258,388 2,586,072
Commitments and Contingencies (see Note 15)
Stockholders’ Equity:    
Common stock, $0.01 par value, 450,000,000 shares authorized, 153,537,296 and 133,853,565 shares issued and outstanding in 2019 and 2018, respectively 1,535 1,339
Additional paid-in-capital 2,825,317 2,638,441
Accumulated deficit (196,945) (130,170)
Total Stockholders’ Equity 2,629,975 2,509,747
Total Liabilities and Stockholders’ Equity 6,888,363 5,095,819
Series B Preferred Stock    
Stockholders’ Equity:    
Preferred stock 68 68
Series C Preferred Stock    
Stockholders’ Equity:    
Preferred stock 0 69
Commercial Mortgage Portfolio Segment    
Assets:    
Commercial mortgage loans and subordinate loans and other lending assets, net 5,326,967 3,878,981
Subordinate Mortgage and Other Lending Assets Portfolio Segment    
Assets:    
Commercial mortgage loans and subordinate loans and other lending assets, net $ 1,048,126 $ 1,048,612