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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Investment securities available for sale, at fair value $ 99,559 $ 200,844
Equity investments, at fair value 179,746 239,631
Cash and cash equivalents 244,718 289,602
Real estate, net 692,968 1,017,583
Assets of disposal group held for sale 1,151,784 0
Other assets 259,356 215,019
Total assets [1] 6,240,745 5,658,301
Liabilities:    
Convertible notes 0 137,898
Senior unsecured notes 97,384 96,704
Subordinated debentures 45,000 45,000
Mortgages payable on real estate, net 394,707 709,356
Liabilities of disposal group held for sale 883,812 0
Other liabilities 115,991 161,081
Total liabilities [1] 4,376,634 3,226,519
Commitments and Contingencies (See Note 14)
Redeemable Non-Controlling Interest in Consolidated Variable Interest Entities 63,803 66,392
Stockholders' Equity:    
Preferred stock, par value $0.01 per share, 31,500,000 and 29,500,000 shares authorized as of December 31, 2022 and December 31, 2021, respectively, 22,284,994 shares issued and outstanding as of December 31, 2022 and December 31, 2021 ($557,125 aggregate liquidation preference as of December 31, 2022 and December 31, 2021) 538,351 538,221
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 364,774,752 and 379,405,240 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively 3,648 3,794
Additional paid-in capital 2,279,955 2,356,576
Accumulated other comprehensive (loss) income (1,970) 1,778
Accumulated deficit (1,052,768) (559,338)
Company's stockholders' equity 1,767,216 2,341,031
Non-controlling interests 33,092 24,359
Total equity 1,800,308 2,365,390
Total Liabilities and Equity 6,240,745 5,658,301
Repurchase agreements    
Repurchase agreements 737,023 554,259
Collateralized debt obligations    
Collateralized debt obligations ($634,495 at fair value and $1,468,222 at amortized cost, net as of December 31, 2022 and $839,419 at fair value and $682,802 at amortized cost, net as of December 31, 2021) 2,102,717 1,522,221
Residential loans    
Residential loans, at fair value 3,525,080 3,575,601
Multi-family loans    
Multi-family loans, at fair value $ 87,534 $ 120,021
[1] Our 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 December 31, 2022 and December 31, 2021, assets of consolidated VIEs totaled $4,261,097 and $2,940,513, respectively, and the liabilities of consolidated VIEs totaled $3,403,257 and $2,235,665, respectively. See Note 7 for further discussion.