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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows (used in) provided by operating activities:      
Net income $ 230,174 $ 219,986 $ 193,031
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of discount/premium and PIK (81,611) (64,269) (48,062)
Amortization of deferred financing costs 11,969 11,186 6,669
Equity-based compensation 15,897 8,809 10,977
Unrealized loss on securities 0 0 (37,165)
Provision for loan losses and impairment, net of reversals 20,000 20,000 5,000
Loss from unconsolidated joint venture 0 0 2,259
Foreign currency (gain) loss 3,768 29,617 (18,645)
Realized loss on derivative instruments 0 0 289
Unrealized (gain) loss on derivative instruments 43,046 (29,345) 11,523
Loss on early extinguishment of debt 0 2,573 0
Realized loss on investment 12,513 0 42,693
Changes in operating assets and liabilities:      
Proceeds received from PIK 16,469 75,652 0
Other assets (4,926) (10,198) (5,192)
Loan proceeds held by servicer 454 0 (6,306)
Accounts payable, accrued expenses and other liabilities 5,056 317 (3,351)
Payable to related party 626 1,636 1,153
Net cash provided by operating activities 273,435 265,964 154,873
Cash flows used in investing activities:      
New funding of commercial mortgage loans (2,526,384) (1,849,100) (1,136,252)
Add-on funding of commercial mortgage loans (385,508) (131,718) (82,240)
New funding of subordinate loans and other lending assets (493,017) (220,809) (497,629)
Add-on funding of subordinate loans and other lending assets (30,549) (149,238) (112,637)
Proceeds and payments received on commercial mortgage loans 1,428,535 675,140 218,002
Proceeds and payments received on subordinate loans and other lending assets, net 560,089 610,051 376,727
Origination and exit fees received on commercial mortgage and subordinate loans and other lending assets, net 45,882 41,822 27,904
Funding of unconsolidated joint venture 0 0 (726)
Funding of other assets 0 0 (1,379)
Payments on settlements of derivative instruments 0 0 (201)
Increase (decrease) in collateral related to derivative contracts (34,160) 24,930 (4,952)
Payments and proceeds received on securities 0 0 468,171
Proceeds from sale of investments in unconsolidated joint venture 0 0 24,498
Net cash used in investing activities (1,435,112) (998,922) (720,714)
Cash flows from financing activities:      
Proceeds from issuance of common stock 315,158 275,879 279,816
Redemption of preferred stock (172,500) 0 (116,990)
Payment of offering costs (333) (484) (924)
Proceeds from secured debt arrangements 3,451,172 2,153,846 1,239,515
Repayments of secured debt arrangements (2,273,750) (1,580,343) (1,045,614)
Repayments of senior secured term loan principal (2,500) 0 0
Proceeds from issuance of senior secured term loan 497,500 0 0
Proceeds from issuance of Notes 0 226,550 343,275
Exchanges and conversions of Notes (704) (40,461) 0
Repayments of participations sold 0 0 (85,081)
Payment of deferred financing costs (13,688) (15,337) (14,254)
Other financing activities (4,996) 0 0
Dividends on common stock (269,232) (227,217) (183,877)
Dividends on preferred stock (21,974) (27,340) (35,807)
Net cash provided by financing activities 1,504,153 765,093 380,059
Net increase (decrease) in cash and cash equivalents 342,476 32,135 (185,782)
Cash and cash equivalents, beginning of period 109,806 77,671 263,453
Cash and cash equivalents, end of period 452,282 109,806 77,671
Supplemental disclosure of cash flow information:      
Interest paid 133,469 97,880 55,835
Supplemental disclosure of non-cash financing activities:      
Exchange of Notes for common stock 33,778 180,016 0
Dividend declared, not yet paid 74,771 69,033 56,576
Loan proceeds held by servicer 7,775 1,000 302,756
Deferred financing costs, not yet paid $ 5,193 $ 0 $ 0