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Collateralized Debt Obligations (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Mortgages Payable in Consolidated VIEs

The following tables present a summary of the Company's CDOs as of March 31, 2022 and December 31, 2021, respectively (dollar amounts in thousands):

			March 31, 2022
			Outstanding Face Amount						Carrying Value						Weighted Average Interest Rate (1)												Stated Maturity (2)
Consolidated SLST (3)			$	780,539					$	754,264					2.75		%										2059
Residential loan securitizations			1,150,186						1,143,855						2.73		%										2026 - 2061
Total collateralized debt obligations			$	1,930,725					$	1,898,119

			December 31, 2021
			Outstanding Face Amount						Carrying Value						Weighted Average Interest Rate (1)												Stated Maturity (2)
Consolidated SLST (3)			$	814,256					$	839,419					2.75		%										2059
Residential loan securitizations			686,122						682,802						2.43		%										2026 - 2061
Total collateralized debt obligations			$	1,500,378					$	1,522,221

(1)Weighted average interest rate is calculated using the outstanding face amount and stated interest rate of notes issued by the securitization and not owned by the Company.

(2)The actual maturity of the Company's CDOs are primarily determined by the rate of principal prepayments on the assets of the issuing entity. The CDOs are also subject to redemption prior to the stated maturity according to the terms of the respective governing documents. As a result, the actual maturity of the CDOs may occur earlier than the stated maturity.

(3)The Company has elected the fair value option for CDOs issued by Consolidated SLST (see Note 14).

The following table presents detailed information for these mortgages payable on real estate as of March 31, 2022 and December 31, 2021, respectively (dollar amounts in thousands):

			Maximum Committed Mortgage Principal Amount						Outstanding Mortgage Balance						Net Deferred Finance Cost						Mortgage Payable, Net						Stated Maturity						Weighted Average Interest Rate (1)
March 31, 2022			$	1,177,108					$	1,102,179					$	(18,808)					$	1,083,371					2024 - 2032						3.63		%
December 31, 2021			745,915						718,717						(9,361)						709,356						2024 - 2031						3.56		%

(1)Weighted average interest rate is calculated using the outstanding mortgage balance and interest rate as of the date indicated.

Schedule of Maturities of Collateralized Debt Obligations

The Company's collateralized debt obligations as of March 31, 2022 had stated maturities as follows:

Year ending December 31,						Total
2022						$	—
2023						—
2024						—
2025						—
2026						180,000
2027						225,000
Thereafter						1,525,725
Total						$	1,930,725

As of March 31, 2022, maturities for debt on the Company's condensed consolidated balance sheet are as follows (dollar amounts in thousands):

Year Ending December 31,						Total
2022						$	—
2023						—
2024						291,970
2025						367,595
2026						133,925
2027						—
Thereafter						453,689
						$	1,247,179

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