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Consolidated Statement of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net interest income:      
Interest income from commercial mortgage loans $ 456,513 $ 327,702 $ 309,134
Interest income from subordinate loans and other lending assets 55,590 100,413 118,435
Interest expense (270,525) (162,522) (148,891)
Net interest income 241,578 265,593 278,678
Revenue from real estate owned operations 62,062 18,917 0
Total net revenue 303,640 284,510 278,678
Operating expenses:      
General and administrative expenses (includes equity-based compensation of $18,252, $17,633 and $16,815 in 2022, 2021 and 2020, respectively) (29,662) (28,845) (26,849)
Management fees to related party (38,419) (38,160) (39,750)
Operating expenses related to real estate owned (52,368) (19,923) 0
Depreciation and amortization on real estate owned (704) (2,645) 0
Total operating expenses (121,153) (89,573) (66,599)
Other income 2,494 3,821 1,604
Realized gain (loss) on investments 18,683 (20,767) (47,632)
Reversal of (provision for) loan losses, net 17,623 34,773 (125,600)
Realized losses and impairments on real estate owned 0 (550) 0
Foreign currency translation gain (loss) (116,399) (31,687) 26,916
Gain on foreign currency forward contracts (includes unrealized gains (losses) of $104,159, $46,714 and $(26,499) in 2022, 2021 and 2020, respectively) 146,981 41,674 (9,743)
Gain (loss) on interest rate hedging instruments (includes unrealized gains of $7,692, $1,314, and $14,604) 13,363 1,314 (39,247)
Net income 265,232 223,515 18,377
Preferred dividends (12,272) (12,964) (13,540)
Net income available to common stockholders $ 252,960 $ 210,551 $ 4,837
Net income per share of common stock:      
Basic (in dollars per share) $ 1.77 $ 1.48 $ 0.01
Diluted (in dollars per share) $ 1.68 $ 1.46 $ 0.01
Basic weighted-average shares of common stock outstanding 140,534,635 139,869,244 148,004,385
Diluted weighted-average shares of common stock outstanding 165,504,660 168,402,515 148,004,385
Dividend declared per share of common stock (in dollars per share) $ 1.40 $ 1.40 $ 1.45