XML 16 R3.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Assets:    
Cash and cash equivalents $ 222,030 $ 343,106
Total carrying value, net 8,681,990 7,857,260
Real estate owned, held for investment, net (net of $2,645 accumulated depreciation in 2021) 302,688 151,788
Assets related to real estate owned, held for sale 162,397 0
Derivative assets, net 128,640 16,788
Other assets 70,607 47,753
Total Assets 9,568,352 8,416,695
Liabilities:    
Convertible senior notes, net 229,361 569,979
Accounts payable, accrued expenses and other liabilities [1] 227,360 102,609
Debt related to real estate owned, held for investment, net 160,294 0
Participations sold 25,130 27,064
Payable to related party 9,728 9,773
Total Liabilities 7,213,848 6,122,069
Commitments and Contingencies (see Note 17)
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, 140,595,995 and 139,894,060 shares issued and outstanding in 2022 and 2021, respectively 1,406 1,399
Additional paid-in-capital 2,716,907 2,721,042
Accumulated deficit (363,877) (427,883)
Total Stockholders’ Equity 2,354,504 2,294,626
Total Liabilities and Stockholders’ Equity 9,568,352 8,416,695
Secured Debt    
Liabilities:    
Secured debt arrangements, net 5,296,825 4,150,268
Senior secures term loans and notes, net 763,813 768,325
Senior Notes    
Liabilities:    
Senior secures term loans and notes, net 494,844 494,051
Mortgages    
Liabilities:    
Secured debt arrangements, net 6,493 0
Debt related to real estate owned, held for investment, net 160,300  
Commercial Mortgage Portfolio Segment    
Assets:    
Total carrying value, net [2],[3] 8,121,109 7,012,312
Liabilities:    
Participations sold 25,130 27,064
Subordinate Mortgage Portfolio Segment    
Assets:    
Total carrying value, net [3],[4] $ 560,881 $ 844,948
[1] Includes $4,347 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 $7,482,658 and $5,957,707 pledged as collateral under secured debt arrangements in 2022 and 2021, respectively.
[3] Net of $159,724 and $178,588 CECL Allowance in 2022 and 2021, respectively, comprised of $133,500 and $145,000 Specific CECL Allowance and $26,224 and $33,588 General CECL Allowance, respectively.
[4] Includes $191,608 and $0 pledged as collateral under secured debt arrangements in 2022 and 2021, respectively.