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Condensed Consolidated Statement of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net interest income:        
Interest income from commercial mortgage loans $ 179,388,000 $ 174,124,000 $ 363,104,000 $ 340,271,000
Interest income from subordinate loans and other lending assets 842,000 5,110,000 1,691,000 14,817,000
Interest expense (128,472,000) (116,278,000) (256,359,000) (221,146,000)
Net interest income 51,758,000 62,956,000 108,436,000 133,942,000
Revenue from real estate owned operations 29,350,000 29,208,000 53,207,000 45,339,000
Total net revenue 81,108,000 92,164,000 161,643,000 179,281,000
Operating expenses:        
General and administrative expenses (includes equity-based compensation of $4,157 and $8,345 in 2024 and $4,377 and $8,735 in 2023, respectively) (7,488,000) (7,471,000) (14,861,000) (14,486,000)
Operating expenses related to real estate owned (21,767,000) (19,961,000) (41,660,000) (33,967,000)
Depreciation and amortization on real estate owned (2,287,000) (2,202,000) (6,943,000) (6,188,000)
Total operating expenses (40,715,000) (39,024,000) (82,058,000) (73,548,000)
Other income, net 641,000 2,340,000 1,211,000 3,072,000
Increase in current expected credit loss allowance, net (10,258,000) (61,648,000) (157,942,000) (66,038,000)
Foreign currency translation gain (loss) (1,362,000) 21,557,000 (20,925,000) 40,191,000
Reversal of valuation allowance, commercial mortgage loan held for sale 679,000 0 0 0
Net realized loss on investments (679,000) (81,980,000) (679,000) (86,604,000)
Gain on extinguishment of debt 252,000 0 465,000
Net income (loss) before taxes 35,885,000 (83,400,000) (68,525,000) (34,484,000)
Income tax provision (100,000) 0 (214,000) 0
Net income (loss) 35,785,000 (83,400,000) (68,739,000) (34,484,000)
Preferred dividends (3,068,000) (3,068,000) (6,136,000) (6,136,000)
Net income (loss) available to common stockholders $ 32,717,000 $ (86,468,000) $ (74,875,000) $ (40,620,000)
Net income (loss) per share of common stock:        
Basic $ 0.23 $ (0.62) $ (0.54) $ (0.3)
Diluted $ 0.23 $ (0.62) $ (0.54) $ (0.3)
Basic weighted-average shares of common stock outstanding 140,438,676 141,341,238 141,154,140 141,207,597
Diluted weighted-average shares of common stock outstanding 140,611,532 141,341,238 141,154,140 141,207,597
Dividend declared per share of common stock $ 0.35 $ 0.35 $ 0.7 $ 0.7
Related Party        
Operating expenses:        
Management fees to related party $ (9,173,000) $ (9,390,000) $ (18,594,000) $ (18,907,000)
Foreign Exchange Forward        
Operating expenses:        
Gain (loss) on sale of derivatives 6,377,000 (17,116,000) 29,775,000 (31,251,000)
Interest rate caps and swaps        
Operating expenses:        
Gain (loss) on sale of derivatives $ 94,000 $ 55,000 $ 450,000 $ (52,000)