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Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Net interest income:    
Interest income from commercial mortgage loans $ 84,424 $ 75,356
Interest income from subordinate loans and other lending assets 15,835 31,459
Interest expense (45,118) (35,664)
Net interest income 55,141 71,151
Revenue from real estate owned operations 9,040 0
Total net revenue 64,181 71,151
Operating expenses:    
General and administrative expenses (includes equity-based compensation of $4,698 and $4,387 in 2022 and 2021, respectively) (7,187) (6,940)
Management fees to related party (9,354) (9,364)
Operating expenses related to real estate owned (9,652) 0
Depreciation and amortization on real estate owned (704) 0
Total operating expenses (26,897) (16,304)
Other income 0 92
Reversal of (provision for) loan losses, net [1] (18,611) 1,238
Realized losses and impairments on real estate owned 0 (550)
Foreign currency translation loss (32,518) (7,449)
Gain on foreign currency forward contracts (includes unrealized gains of $18,142 and $10,502 in 2022 and 2021, respectively) 22,762 9,800
Unrealized gain on interest rate hedging instruments 6,321 357
Net income 15,238 58,335
Preferred dividends (3,068) (3,385)
Net income available to common stockholders $ 12,170 $ 54,950
Net income per share of common stock:    
Basic (in dollars per share) $ 0.08 $ 0.39
Diluted (in dollars per share) $ 0.08 $ 0.37
Basic weighted-average shares of common stock outstanding 140,353,386 139,805,863
Diluted weighted-average shares of common stock outstanding 140,353,386 170,792,684
Dividend declared per share of common stock (in dollars per share) $ 0.35 $ 0.35
[1] Comprised of $30,000 and $0 Specific CECL Allowance and $11,389 and $1,238 of General CECL Reversals for the three months ended March 31, 2022 and 2021, respectively.