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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Assets:    
Cash and cash equivalents $ 438,234,000 $ 452,282,000
Total carrying value, net 6,437,037,000 6,375,093,000
Derivative assets, net 13,654,000 0
Other assets 43,644,000 52,716,000
Loan proceeds held by servicer 0 8,272,000
Total Assets 6,932,569,000 6,888,363,000
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $12,746 and $17,190 in 2020 and 2019, respectively) 3,465,337,000 3,078,366,000
Convertible senior notes, net 564,611,000 561,573,000
Senior secured term loan, net (net of deferred financing costs of $7,565 and $7,277 in 2020 and 2019, respectively) 484,191,000 487,961,000
Accounts payable, accrued expenses and other liabilities [1] 89,222,000 100,712,000
Payable to related party 9,927,000 10,430,000
Derivative liabilities 0 19,346,000
Total Liabilities 4,613,288,000 4,258,388,000
Commitments and Contingencies (see Note 15)
Stockholders’ Equity:    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, Series B, 6,770,393 shares issued and outstanding ($169,260 liquidation preference) 68,000 68,000
Common stock, $0.01 par value, 450,000,000 shares authorized, 143,288,347 and 153,537,296 shares issued and outstanding in 2020 and 2019, respectively 1,433,000 1,535,000
Additional paid-in-capital 2,739,851,000 2,825,317,000
Accumulated deficit (422,071,000) (196,945,000)
Total Stockholders’ Equity 2,319,281,000 2,629,975,000
Total Liabilities and Stockholders’ Equity 6,932,569,000 6,888,363,000
Commercial Mortgage Portfolio Segment    
Assets:    
Total carrying value, net [2],[3] 5,427,945,000 5,326,967,000
Subordinate Mortgage Portfolio Segment    
Assets:    
Total carrying value, net [3] $ 1,009,092,000 $ 1,048,126,000
[1] Includes $3,595 of General CECL Allowance related to unfunded commitments on commercial mortgage loans, subordinate loans and other lending assets, net in 2020.
[2] Includes $5,405,220 and $4,852,087 pledged as collateral under secured debt arrangements in 2020 and 2019, respectively
[3] Net of $236,207 CECL Allowances in 2020, comprised of $196,931 Specific CECL Allowance and $39,276 General CECL Allowance. Net of $56,981 provision for loan loss in 2019.