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v3.21.1

Secured Debt Arrangements, Net - Schedule of Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019
--- | --- | --- | --- | --- | ---
Assets: |  |  |  |  |  |
Commercial mortgage loans, net |  | $ 6,820,074 | $ 6,496,977 | $ 6,430,618 |  |
Other assets |  | 68,882 | 74,640 |  |  |
Total Assets |  | 7,225,371 | 6,940,020 |  |  |
Liabilities: |  |  |  |  |  |
Secured debt arrangements, net (net of deferred financing costs of $2.3 million and $0.7 million in 2021 and 2020, respectively) |  | 775,974 |  |  |  |
Accounts payable, accrued expenses and other liabilities | [1] | 74,899 | 74,887 |  |  |
Total Liabilities |  | 4,949,618 | 4,669,491 |  |  |
Allowance reserve |  | 36,435 | 38,102 | 58,273 |  |
Off-balance sheet, credit loss, liability |  | 3,794 | 3,365 | $ 6,059 | $ 3,365 | $ 0
Commercial Mortgage Portfolio Segment |  |  |  |  |  |
Assets: |  |  |  |  |  |
Commercial mortgage loans, net | [2],[3] | 5,754,258 | 5,451,084 |  |  |
Liabilities: |  |  |  |  |  |
Allowance reserve |  | 18,210 |  |  | $ 17,012 |
VIE |  |  |  |  |  |
Assets: |  |  |  |  |  |
Cash |  | 2,572 | 2,020 |  |  |
Commercial mortgage loans, net |  | 1,712,897 | 1,290,393 |  |  |
Other assets |  | 6,837 | 15,831 |  |  |
Total Assets |  | 1,722,306 | 1,308,244 |  |  |
Liabilities: |  |  |  |  |  |
Secured debt arrangements, net (net of deferred financing costs of $2.3 million and $0.7 million in 2021 and 2020, respectively) |  | 1,171,036 | 857,043 |  |  |
Accounts payable, accrued expenses and other liabilities |  | 2,310 | 1,307 |  |  |
Total Liabilities |  | 1,173,346 | 858,350 |  |  |
Deferred financing costs |  | 2,300 | 700 |  |  |
VIE | Commercial Mortgage Portfolio Segment |  |  |  |  |  |
Liabilities: |  |  |  |  |  |
Allowance reserve |  | 7,400 | 4,400 |  |  |
Off-balance sheet, credit loss, liability |  | $ 1,200 | $ 300 |  |  |
[1] | Includes $3,794 and $3,365 of General CECL Allowance related to unfunded commitments on commercial mortgage loans, subordinate loans and other lending assets, net in 2021 and 2020, respectively.
[2] | Includes $5,319,621 and $5,418,999 pledged as collateral under secured debt arrangements in 2021 and 2020, respectively
[3] | Net of $211,435 and $213,102 CECL Allowances in 2021 and 2020, respectively, comprised of $175,000 Specific CECL Allowance and $36,435 and $38,102 General CECL Allowance, respectively.

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