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Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Net interest income:        
Interest income from commercial mortgage loans $ 82,447 $ 75,641 $ 157,803 $ 157,496
Interest income from subordinate loans and other lending assets 31,775 32,616 63,234 66,634
Interest expense (39,737) (37,498) (75,401) (78,703)
Net interest income 74,485 70,759 145,636 145,427
Revenue from real estate owned operations 1,374 0 1,374 0
Total net revenue 75,859 70,759 147,010 145,427
Operating expenses:        
General and administrative expenses (includes equity-based compensation of $4,357 and $8,744 in 2021 and $4,252 and $8,515 in 2020, respectively) (6,734) (6,425) (13,674) (12,956)
Management fees to related party (9,440) (9,957) (18,804) (20,225)
Operating expenses related to real estate owned (1,994) 0 (1,994) 0
Depreciation and amortization on real estate owned (452) 0 (452) 0
Total operating expenses (18,620) (16,382) (34,924) (33,181)
Other income 17 591 109 1,351
Realized loss on investments (20,000) (16,405) (20,000) (16,405)
Reversal of (provision for) loan losses, net [1] 29,586 25,169 30,824 (158,296)
Realized losses and impairments on real estate owned 0 0 (550) 0
Foreign currency translation gain (loss) 4,054 2,559 (3,395) (35,390)
Gain (loss) on sale of derivatives (111) (3,095) 246 (38,643)
Net income (loss) 67,691 60,201 126,026 (67,641)
Preferred dividends (3,385) (3,385) (6,770) (6,770)
Net income (loss) available to common stockholders $ 64,306 $ 56,816 $ 119,256 $ (74,411)
Net income (loss) per share of common stock:        
Basic (in dollars per share) $ 0.45 $ 0.37 $ 0.84 $ (0.50)
Diluted (in dollars per share) $ 0.42 $ 0.36 $ 0.79 $ (0.50)
Basic weighted-average shares of common stock outstanding 139,884,060 151,523,513 139,845,178 152,735,852
Diluted weighted-average shares of common stock outstanding 170,832,186 182,083,702 170,812,544 152,735,852
Dividends declared on common stock (in dollars per share) $ 0.35 $ 0.35 $ 0.70 $ 0.75
Foreign currency forward, net        
Operating expenses:        
Gain (loss) on sale of derivatives $ (3,094) $ (2,995) $ 6,706 $ 67,496
Interest rate cap and swaps        
Operating expenses:        
Gain (loss) on sale of derivatives $ (111) $ (3,095) $ 246 $ (38,643)
[1] Comprised of $30,000, $30,000, $9,500 and $(140,500) Specific CECL Reversals (Allowance) for the three and six months ended June 30, 2021 and 2020, respectively, and $(414), $824, $15,669, and $(17,796) of General CECL Reversals (Allowance) for the three and six months ended June 30, 2021 and 2020, respectively.