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Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Carrying Value and Estimated Fair Value of Company's Financial Instruments The following table presents the carrying value and estimated fair value of our financial instruments not carried at fair value on our condensed consolidated balance sheet at September 30, 2020 and December 31, 2019 ($ in thousands):
September 30, 2020December 31, 2019
 Carrying
Value
Estimated
Fair Value
Carrying
Value
Estimated
Fair Value
Cash and cash equivalents$438,234 $438,234 $452,282 $452,282 
Commercial mortgage loans, net5,427,945 5,337,301 5,326,967 5,380,693 
Subordinate loans and other lending assets, net(1)
1,009,092 982,961 1,048,126 1,050,961 
Secured debt arrangements, net(3,465,337)(3,465,337)(3,078,366)(3,078,366)
Senior secured term loan, net(484,191)(471,531)(487,961)(499,988)
2022 Notes(339,695)(326,867)(337,755)(348,060)
2023 Notes(224,916)(206,126)(223,818)(234,600)
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(1)Includes subordinate risk retention interests in securitization vehicles with an estimated fair value that approximates their carrying value.