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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows provided by operating activities:    
Net income (loss) $ (18,303) $ 158,271
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of discount/premium and PIK (53,670) (61,949)
Amortization of deferred financing costs 9,652 8,535
Equity-based compensation 12,721 7,084
Provision for loan losses [1] 151,954 20,000
Foreign currency loss 34,225 22,111
Unrealized (gain) loss on derivative instruments (33,000) 11,391
Realized loss on investments 17,442 12,513
Changes in operating assets and liabilities:    
Proceeds received from PIK 0 11,469
Other assets (6,251) (4,216)
Accounts payable, accrued expenses and other liabilities (1,233) 2,462
Payable to related party (503) 630
Net cash provided by operating activities 113,034 188,301
Cash flows used in investing activities:    
New funding of commercial mortgage loans (457,449) (1,277,606)
Add-on funding of commercial mortgage loans (262,193) (271,720)
New funding of subordinate loans and other lending assets 0 (493,017)
Add-on funding of subordinate loans and other lending assets (47,627) (18,323)
Proceeds received from the repayment and sale of commercial mortgage loans 528,782 570,305
Proceeds received from the repayment of subordinate loans and other lending assets 5,122 254,019
Origination and exit fees received on commercial mortgage loans, and subordinate loans and other lending assets, net 6,420 24,524
Increase (decrease) in collateral held related to derivative contracts, net 25,130 (19,830)
Net cash (used in) provided by investing activities (201,815) (1,231,648)
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 (91,801) 0
Payment of offering costs 0 (153)
Proceeds from secured debt arrangements 1,465,757 1,948,037
Repayments of secured debt arrangements (1,083,849) (1,264,223)
Repayments of senior secured term loan principal (3,750) (1,250)
Proceeds from issuance of senior secured term loan 0 497,500
Exchanges of convertible senior notes 0 (704)
Payment of deferred financing costs (8,092) (11,043)
Other financing activities (6,494) 0
Dividends on common stock (186,883) (197,757)
Dividends on preferred stock (10,155) (18,589)
Net cash (used in) provided by financing activities 74,733 1,094,475
Net increase in cash and cash equivalents (14,048) 51,128
Cash and cash equivalents, beginning of period 452,282 109,806
Cash and cash equivalents, end of period 438,234 160,934
Supplemental disclosure of cash flow information:    
Interest paid 100,573 96,201
Supplemental disclosure of non-cash financing activities:    
Exchange of convertible senior notes for common stock 0 33,778
Dividend declared, not yet paid 54,254 74,855
Offering costs payable 0 200
Loan proceeds held by servicer 0 3,323
Deferred financing costs, not yet paid 2,596 5,420
Transfer of proceeds borrowed under secured credit facilities to Barclays Private Securitization 782,006 0
Restructuring of subordinate loan to commercial mortgage loan $ 68,500 $ 0
[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.