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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows provided by operating activities:    
Net income (loss) $ (67,641) $ 129,182
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of discount/premium and PIK (36,449) (40,490)
Amortization of deferred financing costs 6,577 5,487
Equity-based compensation 8,515 3,195
Provision for (reversal of) loan losses [1] 158,296 (15,000)
Realized loss on investments 16,405 12,513
Foreign currency loss 48,404 3,068
Unrealized (gain) loss on derivative instruments (68,640) 17,311
Changes in operating assets and liabilities:    
Other assets (9,615) (6,460)
Accounts payable, accrued expenses and other liabilities (1,921) 668
Payable to related party (472) 455
Net cash provided by operating activities 53,459 109,929
Cash flows used in investing activities:    
New funding of commercial mortgage loans (447,440) (511,310)
Add-on funding of commercial mortgage loans (197,261) (175,497)
New funding of subordinate loans and other lending assets 0 (276,607)
Add-on funding of subordinate loans and other lending assets (25,766) (12,825)
Proceeds received from the repayment and sale of commercial mortgage loans 397,994 341,453
Proceeds received from the repayment of subordinate loans and other lending assets 1,885 130,567
Origination and exit fees received on commercial mortgage loans, and subordinate loans and other lending assets, net 6,110 12,275
Increase (decrease) in collateral held related to derivative contracts, net 55,550 (18,180)
Net cash (used in) provided by investing activities (208,928) (510,124)
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 315,157
Redemption of preferred stock 0 (172,500)
Repurchase of common stock (46,279) 0
Payment of offering costs 0 (141)
Proceeds from secured debt arrangements 1,373,643 981,529
Repayments of secured debt arrangements (980,280) (1,063,071)
Repayments of senior secured term loan principal (2,500) 0
Proceeds from issuance of senior secured term loan 0 497,500
Exchanges of convertible senior notes 0 (704)
Payment of deferred financing costs (7,522) (9,416)
Other financing activities (6,494) 0
Dividends on common stock (133,446) (126,289)
Dividends on preferred stock (6,770) (15,204)
Net cash (used in) provided by financing activities 190,352 406,861
Net increase in cash and cash equivalents 34,883 6,666
Cash and cash equivalents, beginning of period 452,282 109,806
Cash and cash equivalents, end of period 487,165 116,472
Supplemental disclosure of cash flow information:    
Interest paid 71,974 62,915
Supplemental disclosure of non-cash financing activities:    
Exchange of convertible senior notes for common stock 0 33,778
Dividend declared, not yet paid 56,256 74,295
Offering costs payable 0 265
Loan proceeds held by servicer 0 4,619
Deferred financing costs, not yet paid 2,596 4,095
Transfer of proceeds borrowed under secured credit facilities to Barclays Private Securitization $ 782,006 $ 0
[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.