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Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net interest income:        
Interest income from commercial mortgage loans $ 75,641 $ 77,458 $ 157,496 $ 155,744
Interest income from subordinate loans and other lending assets 32,616 41,043 66,634 81,882
Interest expense (37,498) (33,511) (78,703) (69,806)
Net interest income 70,759 84,990 145,427 167,820
Operating expenses:        
General and administrative expenses (includes equity-based compensation of $4,252 and $8,515 in 2020 and $4,294 and $8,195 in 2019, respectively) (6,425) (6,574) (12,956) (12,725)
Management fees to related party (9,957) (10,259) (20,225) (19,872)
Total operating expenses (16,382) (16,833) (33,181) (32,597)
Other income 591 484 1,351 1,002
Realized loss on investments (16,405) (12,513) (16,405) (12,513)
Reversal of (provision for) loan losses [1] 25,169 15,000 (158,296) 15,000
Foreign currency translation gain (loss) 2,559 (7,777) (35,390) (883)
Gain (loss) on sale of derivatives (3,095) (13,113) (38,643) (13,113)
Net income (loss) 60,201 61,424 (67,641) 129,182
Preferred dividends (3,385) (4,919) (6,770) (11,754)
Net income (loss) available to common stockholders $ 56,816 $ 56,505 $ (74,411) $ 117,428
Net income (loss) per share of common stock:        
Basic (in dollars per share) $ 0.37 $ 0.38 $ (0.50) $ 0.83
Diluted (in dollars per share) $ 0.36 $ 0.37 $ (0.50) $ 0.80
Basic weighted-average shares of common stock outstanding (in shares) 151,523,513 145,567,963 152,735,852 140,117,813
Diluted weighted-average shares of common stock outstanding (in shares) 182,083,702 174,101,234 152,735,852 169,418,177
Dividend declared per share of common stock (in dollars per share) $ 0.35 $ 0.46 $ 0.75 $ 0.92
Forward currency contracts        
Operating expenses:        
Gain (loss) on sale of derivatives $ (2,995) $ 11,186 $ 67,496 $ 4,466
Interest rate cap and swaps        
Operating expenses:        
Gain (loss) on sale of derivatives $ (3,095) $ (13,113) $ (38,643) $ (13,113)
[1] Comprised of $(9,500) and $140,500 of Specific CECL (Reversals) Allowance and $(15,669) and $17,796 of General CECL (Reversals) Allowance for the three and six months ended June 30, 2020, respectively.