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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets:    
Cash and cash equivalents $ 325,498 $ 452,282
Total carrying value, net 6,496,977 6,375,093
Other assets 74,640 60,988
Real estate owned, held for sale 42,905 0
Total Assets 6,940,020 6,888,363
Liabilities:    
Convertible senior notes, net 565,654 561,573
Senior secured term loan, net (net of deferred financing costs of $7,130 and $7,277 in 2020 and 2019, respectively) 483,465 487,961
Accounts payable, accrued expenses and other liabilities [1] 74,887 100,712
Participations sold 34,974 0
Derivative liabilities, net 31,241 19,346
Payable to related party 9,598 10,430
Total Liabilities 4,669,491 4,258,388
Commitments and Contingencies (see Note 16)
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 68
Common stock, $0.01 par value, 450,000,000 shares authorized, 139,295,867 and 153,537,296 shares issued and outstanding in 2020 and 2019, respectively 1,393 1,535
Additional paid-in-capital 2,707,792 2,825,317
Accumulated deficit (438,724) (196,945)
Total Stockholders’ Equity 2,270,529 2,629,975
Total Liabilities and Stockholders’ Equity 6,940,020 6,888,363
Secured Debt    
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $12,993 and $17,190 in 2020 and 2019, respectively) 3,436,672 3,078,366
Mortgages    
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $12,993 and $17,190 in 2020 and 2019, respectively) 33,000 0
Commercial Mortgage Portfolio Segment    
Assets:    
Total carrying value, net [2],[3] 5,451,084 5,326,967
Liabilities:    
Participations sold 9,217 0
Subordinate Mortgage Portfolio Segment    
Assets:    
Total carrying value, net [3] 1,045,893 1,048,126
Liabilities:    
Participations sold $ 25,757 $ 0
[1] Includes $3,365 of General CECL Allowance related to unfunded commitments on commercial mortgage loans, subordinate loans and other lending assets, net in 2020.
[2] Includes $5,418,999 and $4,852,087 pledged as collateral under secured debt arrangements in 2020 and 2019, respectively
[3] Net of $213,102 CECL Allowances in 2020, comprised of $175,000 Specific CECL Allowance and $38,102 General CECL Allowance. Net of $56,981 provision for loan loss in 2019.