XML 118 R2.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
ASSETS    
Investment securities, available for sale, at fair value $ 1,904,018 $ 1,512,252
Investments in unconsolidated entities 168,933 73,466
Preferred equity and mezzanine loan investments 178,997 165,555
Multi-family loans held in securitization trusts, at fair value 15,863,264 11,679,847
Derivative assets 20,673 10,263
Cash and cash equivalents 65,906 103,724
Real estate held for sale in consolidated variable interest entities 0 29,704
Goodwill 25,222 25,222
Receivables and other assets 205,642 114,821
Total Assets [1] 19,759,249 14,737,638
Liabilities:    
Repurchase agreements 1,823,910 1,543,577
Convertible notes 132,395 130,762
Subordinated debentures 45,000 45,000
Mortgages and notes payable in consolidated variable interest entities 935 31,227
Securitized debt 0 42,335
Accrued expenses and other liabilities 153,722 101,228
Total Liabilities [1] 17,912,250 13,557,345
Commitments and Contingencies
Stockholders' Equity:    
Common stock, $0.01 par value, 400,000,000 shares authorized, 262,621,039 and 155,589,528 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 2,626 1,556
Additional paid-in capital 1,648,661 1,013,391
Accumulated other comprehensive income (loss) 21,916 (22,135)
Accumulated deficit (145,896) (103,178)
Company's stockholders' equity 1,847,508 1,179,389
Non-controlling interest in consolidated variable interest entities (509) 904
Total equity 1,846,999 1,180,293
Total Liabilities and Stockholders' Equity 19,759,249 14,737,638
Series B Preferred Stock    
Stockholders' Equity:    
Preferred stock 75,733 72,397
Series C Preferred Stock    
Stockholders' Equity:    
Preferred stock 100,170 86,862
Series D Preferred Stock    
Stockholders' Equity:    
Preferred stock 144,298 130,496
Repurchase agreements    
Liabilities:    
Repurchase agreements 2,559,880 2,131,505
Residential collateralized debt obligations    
Liabilities:    
Collateralized debt obligations 42,119 53,040
Multi-family collateralized debt obligations, at fair value    
Liabilities:    
Collateralized debt obligations 14,978,199 11,022,248
Distressed and other residential mortgage loans (including pledged securities)    
ASSETS    
Residential mortgage loans, net 1,116,128 737,523
Residential mortgage loans held in securitization trusts, net    
ASSETS    
Residential mortgage loans, net $ 210,466 $ 285,261
[1]
Our condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company is the primary beneficiary of these VIEs. As of September 30, 2019 and December 31, 2018, assets of consolidated VIEs totaled $15,976,914 and $11,984,374, respectively, and the liabilities of consolidated VIEs totaled $15,072,191 and $11,191,736, respectively. See Note 9 for further discussion.