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Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net interest income:        
Interest income from commercial mortgage loans $ 84,304 $ 74,522 $ 242,107 $ 232,018
Interest income from subordinate loans and other lending assets 18,836 28,857 82,070 95,491
Interest expense (42,391) (34,824) (117,792) (113,527)
Net interest income 60,749 68,555 206,385 213,982
Revenue from real estate owned operations 5,896 0 7,270
Total net revenue 66,645 68,555 213,655 213,982
Operating expenses:        
General and administrative expenses (includes equity-based compensation of $4,405 and $13,149 in 2021 and $4,212 and $12,727 in 2020, respectively) (6,561) (6,624) (20,235) (19,580)
Management fees to related party (9,583) (9,927) (28,387) (30,152)
Operating expenses related to real estate owned (6,914) 0 (8,908) 0
Depreciation and amortization on real estate owned (1,096) 0 (1,548) 0
Total operating expenses (24,154) (16,551) (59,078) (49,732)
Other income 3,676 128 3,785 1,479
Realized loss on investments 0 (1,037) (20,000) (17,442)
Reversal of (provision for) loan losses, net [1] 5,766 6,342 36,590 (151,954)
Realized losses and impairments on real estate owned 0 0 (550) 0
Foreign currency translation gain (loss) (24,413) 27,002 (27,808) (8,388)
Net income (loss) 60,392 49,338 186,418 (18,303)
Preferred dividends (3,126) (3,385) (9,896) (10,155)
Net income (loss) available to common stockholders $ 57,266 $ 45,953 $ 176,522 $ (28,458)
Net income (loss) per share of common stock:        
Basic (in dollars per share) $ 0.40 $ 0.31 $ 1.24 $ (0.20)
Diluted (in dollars per share) $ 0.38 $ 0.31 $ 1.18 $ (0.20)
Basic weighted-average shares of common stock outstanding 139,891,777 146,612,313 139,860,882 150,679,773
Diluted weighted-average shares of common stock outstanding 170,884,172 146,612,313 170,836,682 150,679,773
Dividend declared per share of common stock (in dollars per share) $ 0.35 $ 0.35 $ 1.05 $ 1.10
Foreign currency forward, net        
Operating expenses:        
Gain (loss) on sale of derivatives $ 32,947 $ (34,537) $ 39,653 $ 32,959
Interest rate cap and swaps        
Operating expenses:        
Gain (loss) on sale of derivatives $ (75) $ (564) $ 171 $ (39,207)
[1] Comprised of $0, $30,000, $550 and $(139,950) Specific CECL Reversals (Allowance) for the three and nine months ended September 30, 2021 and 2020, respectively, and $5,766, $6,590, $5,792, and $(12,004) of General CECL Reversals (Allowance) for the three and nine months ended September 30, 2021 and 2020, respectively.