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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Assets:    
Cash and cash equivalents $ 241,619 $ 343,106
Total carrying value, net 8,937,360 7,857,260
Assets related to real estate owned, held for sale 162,846 0
Derivative assets, net 139,748 16,788
Other assets 71,368 47,753
Real estate owned, net (net of $2,645 accumulated depreciation in 2021) 0 151,788
Total Assets 9,552,941 8,416,695
Liabilities:    
Convertible senior notes, net 573,944 569,979
Accounts payable, accrued expenses and other liabilities [1] 220,100 102,609
Participations sold 24,356 27,064
Payable to related party 9,632 9,773
Total Liabilities 7,279,629 6,122,069
Commitments and Contingencies (see Note 17) 0 0
Stockholders’ Equity:    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, Series B-1, 6,770,393 shares issued and outstanding ($169,260 liquidation preference) in 2022 and 2021 (see Note 16) 68 68
Common stock, $0.01 par value, 450,000,000 shares authorized, 140,590,843 and 139,894,060 shares issued and outstanding in 2022 and 2021, respectively 1,406 1,399
Additional paid-in-capital 2,707,872 2,721,042
Accumulated deficit (436,034) (427,883)
Total Stockholders’ Equity 2,273,312 2,294,626
Total Liabilities and Stockholders’ Equity 9,552,941 8,416,695
Secured Debt    
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $10,024 and $9,062 in 2022 and 2021, respectively) 5,183,837 4,150,268
Senior secures term loans and notes, net 766,159 768,325
Senior Notes    
Liabilities:    
Senior secures term loans and notes, net 494,445 494,051
Mortgages    
Liabilities:    
Secured debt arrangements, net (net of deferred financing costs of $10,024 and $9,062 in 2022 and 2021, respectively) 7,156 0
Commercial Mortgage Portfolio Segment    
Assets:    
Total carrying value, net [2],[3] 8,176,149 7,012,312
Liabilities:    
Participations sold 24,356 27,064
Subordinate Mortgage Portfolio Segment    
Assets:    
Total carrying value, net [3] 753,711 844,948
Subordinate Mortgage Portfolio Segment, Held For Sale    
Assets:    
Total carrying value, net $ 7,500 $ 0
[1] Includes $3,999 and $3,106 of General CECL Allowance related to unfunded commitments on commercial mortgage loans, subordinate loans and other lending assets, net in 2022 and 2021, respectively.
[2] Includes $7,222,253 and $5,957,707 pledged as collateral under secured debt arrangements in 2022 and 2021, respectively.
[3] Net of $195,362 and $178,588 CECL Allowances in 2022 and 2021, respectively, comprised of $172,000 and $145,000 Specific CECL Allowance and $23,362 and $33,588 General CECL Allowance, respectively.