XML 52 R47.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Commercial Mortgage, Subordinate Loans and Other Lending Assets, Net - Additional Information (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
USD ($)
$ / ft²
Sep. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
$ / ft²
Sep. 30, 2018
USD ($)
Jun. 30, 2018
USD ($)
loan
Mar. 31, 2018
USD ($)
Jun. 30, 2017
USD ($)
Dec. 31, 2019
USD ($)
$ / ft²
Dec. 31, 2018
USD ($)
$ / ft²
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
May 31, 2018
USD ($)
Sep. 30, 2017
USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Percentage of loan portfolio                   100.00% 100.00%        
Provision for loan losses and impairment, net of reversals $ 0 $ 35,000 $ (15,000) $ 0 $ 15,000 $ 0 $ 5,000 $ 0   $ 20,000 $ 20,000 $ 5,000      
Payment in kind interest                   54,600 43,500 25,200      
Proceeds received from PIK                   16,469 75,652 0      
Loan loss provision and impairment                   35,000 (20,000)        
Realized loss on investment, net of provision for loan loss reversal                   2,487 0        
Carrying value 6,375,093       4,927,593         6,375,093 4,927,593        
Proceeds from pre-payment penalties or accelerated fees                   6,100 2,300 $ 5,400      
Realized (loss) gain on sale of securities                     (5,500)        
Commercial Mortgage and Subordinated Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Provision for loan losses and impairment, net of reversals                   35,000          
Loans and leases receivable, net amount 6,375,093       4,927,593         6,375,093 4,927,593        
Loan loss provision and impairment                   57,000 37,000        
Realized loss on investment, net of provision for loan loss reversal     12,500             (12,513)          
Financing receivable, credit loss, expense (reversal)     $ 15,000             15,000          
Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Carrying value 5,326,967       3,878,981         5,326,967 3,878,981        
Subordinate Mortgage and Other Lending Assets Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Carrying value 1,048,126       1,048,612         1,048,126 1,048,612        
Guarantor obligations, maximum exposure, undiscounted 68,300                 $ 68,300          
Guarantor obligations, maximum exposure, term                   6 years 9 months 21 days          
Retail Center - Cincinnati, OH | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Provision for loan losses and impairment, net of reversals   32,000     15,000         $ 47,000          
Loans and leases receivable, net amount 124,600       156,100         124,600 156,100        
Payment in kind interest                   1,400          
Loan loss provision and impairment                   32,000 15,000        
Residential Condominium - Bethesda, MD | Commercial Mortgage and Subordinated Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Provision for loan losses and impairment, net of reversals   $ 3,000         $ 5,000   $ 2,000            
Loans and leases receivable, net amount 11,700       27,200         11,700 27,200        
Loan loss provision and impairment                   13,000          
Impairment                 3,000            
Residential Condominium - Bethesda, MD | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Loan loss provision and impairment                   3,000 5,000        
Multifamily - Williston, ND | Commercial Mortgage and Subordinated Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Loans and leases receivable, net amount         32,400           32,400        
Multifamily - Williston, ND | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Provision for loan losses and impairment, net of reversals                         $ 10,000    
Multifamily - Williston, ND | Subordinate Mortgage and Other Lending Assets Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Provision for loan losses and impairment, net of reversals                         $ 5,000    
Retail, New York, NY | Subordinate Mortgage and Other Lending Assets Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Carrying value 470,800                 470,800          
Exposure to mortgage loan 318,100                 318,100          
Office Campus - Renton, WA | Subordinate Mortgage and Other Lending Assets Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Carrying value         $ 265,000           265,000        
Proceeds from sale of loan                     75,000        
Exposure to mortgage loan 190,000                 190,000          
Proceeds from sale of loan, amount funded                     $ 17,700        
Exposure to mortgage loan, amount funded $ 128,000                 $ 128,000          
Capitalization rate | Retail Center - Cincinnati, OH | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Loan collateral, measurement input 0.0775       0.0675         0.0775 0.0675        
Dollars per square foot | Residential Condominium - Bethesda, MD | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Loan collateral, measurement input | $ / ft² 573       662         573 662        
Discount rate | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Loan collateral, measurement input                         0.10    
Discount rate | Residential Condominium - Bethesda, MD | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Loan collateral, measurement input 0.10       0.15         0.10 0.15        
Terminal capitalization rate | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Loan collateral, measurement input                         0.11    
Contractual Interest Rate Reduction | Retail Center - Cincinnati, OH | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Number of loans restructured | loan             1                
Unpaid principal balance of loan restructured             $ 171,200                
Contractual Interest Rate Reduction | London Interbank Offered Rate (LIBOR) | Retail Center - Cincinnati, OH | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Basis spread on variable rate             3.00% 5.50%              
Other Assets | Commercial Mortgage and Subordinated Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Impairment                   $ 3,000          
Floating Rate Loan                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Percentage of loan portfolio                   95.00% 91.00%        
Mortgage loans                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Original face amount of mortgage $ 6,467,842       $ 4,982,514         $ 6,467,842 $ 4,982,514        
Affiliated Entity | Commercial Mortgage Portfolio Segment                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Carrying value                 $ 100,000         $ 300,000 $ 125,000
Miami, Florida | Mortgage loans                              
Financing Receivable, Allowance for Credit Loss [Line Items]                              
Original face amount of mortgage 180,000                 180,000          
Mortgage loan in nonaccrual status $ 182,900       $ 222,000         $ 182,900 $ 222,000