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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
NET INTEREST INCOME:        
Interest income $ 57,540 $ 68,020 $ 114,676 $ 126,521
Interest expense 42,404 28,740 81,739 50,205
Total net interest income 15,136 39,280 32,937 76,316
NON-INTEREST INCOME (LOSS):        
Realized gains, net 3,590 2,386 4,671 6,192
Unrealized (losses) gains, net (8,933) (67,694) 19,556 (151,353)
Income from equity investments 2,656 8,100 7,168 14,153
Other (loss) income (16,567) 1,105 (25,565) 2,531
Income from real estate        
Rental income 36,970 32,137 73,251 55,425
Other real estate income 7,806 3,733 13,270 6,033
Total income from real estate 44,776 35,870 86,521 61,458
Total non-interest income (loss) 25,522 (20,233) 92,351 (67,019)
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:        
General and administrative expenses 13,316 13,175 25,999 27,533
Portfolio operating expenses 5,649 12,690 12,721 22,179
Expenses related to real estate        
Interest expense, mortgages payable on real estate 24,075 13,151 46,554 20,308
Depreciation and amortization 6,128 52,394 12,167 87,981
Other real estate expenses 22,328 18,365 44,508 30,767
Total expenses related to real estate 52,531 83,910 103,229 139,056
Total general, administrative and operating expenses 71,496 109,775 141,949 188,768
LOSS FROM OPERATIONS BEFORE INCOME TAXES (30,838) (90,728) (16,661) (179,471)
Income tax (benefit) expense (18) 90 (3) 67
NET LOSS (30,820) (90,818) (16,658) (179,538)
Net loss attributable to non-controlling interests 3,892 18,922 10,593 33,792
NET LOSS ATTRIBUTABLE TO COMPANY (26,928) (71,896) (6,065) (145,746)
Preferred stock dividends (10,474) (10,493) (20,958) (20,986)
Plus: Gain on repurchase of Preferred Stock 200 0 342 0
Net loss attributable to Company's common stockholders (37,202) (82,389) (26,681) (166,732)
Net loss attributable to Company's common stockholders $ (37,202) $ (82,389) $ (26,681) $ (166,732)
Basic loss per common share (in dollars per share) $ (0.41) $ (0.86) $ (0.29) $ (1.75)
Diluted loss per common share (in dollars per share) $ (0.41) $ (0.86) $ (0.29) $ (1.75)
Weighted average shares outstanding-basic (in shares) 91,193 95,300 91,254 95,250
Weighted average shares outstanding-diluted (in shares) 91,193 95,300 91,254 95,250