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Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Net interest income:    
Interest income from commercial mortgage loans $ 183,716,000 $ 166,147,000
Interest income from subordinate loans and other lending assets 849,000 9,707,000
Interest expense (127,887,000) (104,868,000)
Net interest income 56,678,000 70,986,000
Revenue from real estate owned operations 23,857,000 16,131,000
Total net revenue 80,535,000 87,117,000
Operating expenses:    
General and administrative expenses (includes equity-based compensation of $4,188 and $4,358 in 2024 and 2023, respectively) (7,373,000) (7,015,000)
Operating expenses related to real estate owned (19,893,000) (14,006,000)
Depreciation and amortization on real estate owned (4,656,000) (3,986,000)
Total operating expenses (41,343,000) (34,524,000)
Other income, net 570,000 732,000
Increase in current expected credit loss allowance, net (147,684,000) (4,390,000)
Foreign currency translation gain (loss) (19,563,000) 18,634,000
Valuation allowance, commercial mortgage loan held for sale (679,000) 0
Net realized loss on investments 0 (4,624,000)
Gain on extinguishment of debt 0 213,000
Net income (loss) before taxes (104,410,000) 48,916,000
Income tax provision (114,000) 0
Net income (loss) (104,524,000) 48,916,000
Preferred dividends (3,068,000) (3,068,000)
Net income (loss) available to common stockholders $ (107,592,000) $ 45,848,000
Net income (loss) per share of common stock:    
Basic (in dollars per share) $ (0.76) $ 0.32
Diluted (in dollars per share) $ (0.76) $ 0.32
Basic weighted-average shares of common stock outstanding 141,869,604 141,072,471
Diluted weighted-average shares of common stock outstanding 141,869,604 155,483,979
Dividend declared per share of common stock (in dollars per share) $ 0.35 $ 0.35
Related Party    
Operating expenses:    
Management fees to related party $ (9,421,000) $ (9,517,000)
Foreign Exchange Forward    
Operating expenses:    
Gain (loss) on sale of derivatives 23,398,000 (14,135,000)
Interest rate cap and swaps    
Operating expenses:    
Gain (loss) on sale of derivatives $ 356,000 $ (107,000)