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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows provided by operating activities:    
Net income (loss) $ (127,842) $ 67,758
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of discount/premium and PIK (18,270) (19,611)
Amortization of deferred financing costs 3,312 3,461
Equity-based compensation 4,263 (1,095)
Provision for loan losses [1] 183,465 0
Foreign currency (gain) loss 42,108 (5,828)
Unrealized loss on derivative instruments (26,888) 14,985
Changes in operating assets and liabilities:    
Other assets (6,696) (2,898)
Accounts payable, accrued expenses and other liabilities 807 620
Payable to related party (162) (191)
Net cash provided by operating activities 54,097 57,201
Cash flows used in investing activities:    
New funding of commercial mortgage loans (439,936) (197,000)
Add-on funding of commercial mortgage loans (99,768) (105,452)
New funding of subordinate loans and other lending assets 0 (244,844)
Add-on funding of subordinate loans and other lending assets (18,753) (4,879)
Proceeds received from the repayment and sale of commercial mortgage loans 221,972 191,317
Proceeds received from the repayment of subordinate loans and other lending assets 842 130,010
Origination and exit fees received on commercial mortgage loans, and subordinate loans and other lending assets, net 5,445 6,069
Increase (Decrease) in collateral held related to derivative contracts, net 7,070 (18,180)
Net cash (used in) provided by investing activities (323,128) (242,959)
Cash flows from financing activities:    
Repurchase of common stock (2,441) 0
Proceeds from secured debt arrangements 1,357,442 412,434
Repayments of secured debt arrangements (844,051) (156,747)
Repayments of senior secured term loan principal (1,250) 0
Exchanges of convertible senior notes 0 (704)
Payment of deferred financing costs (2,722) (91)
Collateral deposited under secured debt arrangements (26,262) 0
Other financing activities (6,494) 0
Dividends on common stock (71,950) (62,762)
Dividends on preferred stock (3,385) (6,835)
Net cash (used in) provided by financing activities 398,887 185,295
Net increase in cash and cash equivalents 129,856 (463)
Cash and cash equivalents, beginning of period 452,282 109,806
Cash and cash equivalents, end of period 582,138 109,343
Supplemental disclosure of cash flow information:    
Interest paid 36,979 32,428
Supplemental disclosure of non-cash financing activities:    
Exchange of convertible senior notes for common stock 0 33,778
Dividend declared, not yet paid 65,684 70,364
Deferred financing costs, not yet paid $ 5,193 $ 3,643
[1] Comprised of $150,000 Specific CECL Allowance and $33,465 General CECL Allowance.