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Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net interest income:        
Interest income from commercial mortgage loans $ 180,441 $ 120,821 $ 520,712 $ 304,631
Interest income from subordinate loans and other lending assets 1,599 13,354 16,416 43,719
Interest expense (121,817) (72,302) (342,963) (173,949)
Net interest income 60,223 61,873 194,165 174,401
Revenue from real estate owned operations 20,934 14,428 66,273 42,098
Total net revenue 81,157 76,301 260,438 216,499
Operating expenses:        
General and administrative expenses (includes equity-based compensation of $4,356 and $13,091 in 2023 and $4,518 and $13,734 in 2022, respectively) (7,664) (7,184) (22,150) (21,501)
Operating expenses related to real estate owned (18,950) (13,308) (52,917) (36,094)
Depreciation and amortization on real estate owned (1,020) 0 (7,208) (704)
Total operating expenses (37,152) (30,211) (110,700) (87,004)
Other income, net 1,465 285 4,537 353
Net realized loss on investment 0 43,577 (86,604) 43,577
Realized gain on extinguishment of debt 30 0 495 0
Decrease (increase) in current expected credit loss allowance, net 5,833 55,564 (60,205) 37,897
Foreign currency translation loss (44,165) (92,782) (3,974) (210,138)
Net income before taxes 46,588 183,030 12,104 269,219
Income tax provision (517) 0 (517) 0
Net income 46,071 183,030 11,587 269,219
Preferred dividends (3,068) (3,068) (9,204) (9,204)
Net income available to common stockholders $ 43,003 $ 179,962 $ 2,383 $ 260,015
Net income per share of common stock:        
Basic (in dollars per share) $ 0.30 $ 1.27 $ 0 $ 1.83
Diluted (in dollars per share) $ 0.30 $ 1.13 $ 0 $ 1.66
Basic weighted-average shares of common stock outstanding 141,350,428 140,594,987 141,255,730 140,513,957
Diluted weighted-average shares of common stock outstanding 141,350,428 164,350,132 141,255,730 169,252,602
Dividend declared per share of common stock (in dollars per share) $ 0.35 $ 0.35 $ 1.05 $ 1.05
Related Party        
Operating expenses:        
Management fees to related party $ (9,518) $ (9,719) $ (28,425) $ (28,705)
Foreign Exchange Forward        
Operating expenses:        
Gain (loss) on sale of derivatives 39,490 129,252 8,239 257,227
Interest rate cap and swaps        
Operating expenses:        
Gain (loss) on sale of derivatives $ (70) $ 1,044 $ (122) $ 10,808