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Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net interest income:        
Interest income from commercial mortgage loans $ 74,522 $ 81,136 $ 232,018 $ 236,880
Interest income from subordinate loans and other lending assets 28,857 43,421 95,491 125,303
Interest expense (34,824) (39,341) (113,527) (109,147)
Net interest income 68,555 85,216 213,982 253,036
Operating expenses:        
General and administrative expenses (includes equity-based compensation of $4,212 and $12,727 in 2020 and $3,889 and $12,084 in 2019, respectively) (6,624) (5,839) (19,580) (18,564)
Management fees to related party (9,927) (10,434) (30,152) (30,306)
Total operating expenses (16,551) (16,273) (49,732) (48,870)
Other income 128 429 1,479 1,431
Realized loss on investments (1,037) 0 (17,442) (12,513)
Reversal of (provision for) loan losses [1] 6,342 (35,000) (151,954) (20,000)
Foreign currency translation gain (loss) 27,002 (19,129) (8,388) (20,012)
Gain (loss) on sale of derivatives (564) (10,307) (39,207) (23,420)
Net income (loss) 49,338 29,089 (18,303) 158,271
Preferred dividends (3,385) (3,385) (10,155) (15,139)
Net income (loss) available to common stockholders $ 45,953 $ 25,704 $ (28,458) $ 143,132
Net income (loss) per share of common stock:        
Basic (in dollars per share) $ 0.31 $ 0.16 $ (0.20) $ 0.97
Diluted (in dollars per share) $ 0.31 $ 0.16 $ (0.20) $ 0.97
Basic weighted-average shares of common stock outstanding (in shares) 146,612,313 153,531,678 150,679,773 144,638,237
Diluted weighted-average shares of common stock outstanding (in shares) 146,612,313 153,531,678 150,679,773 144,638,237
Dividend declared per share of common stock (in dollars per share) $ 0.35 $ 0.46 $ 1.10 $ 1.38
Forward currency contracts        
Operating expenses:        
Gain (loss) on sale of derivatives $ (34,537) $ 24,153 $ 32,959 $ 28,619
Interest rate cap and swaps        
Operating expenses:        
Gain (loss) on sale of derivatives $ (564) $ (10,307) $ (39,207) $ (23,420)
[1] Comprised of $550 and $(139,950) of Specific CECL Reversal (Allowance) and $5,792 and $(12,004) of General CECL Reversal (Allowance) for the three and nine months ended September 30, 2020, respectively.