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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
NET INTEREST INCOME:        
Interest income $ 65,195 $ 68,920 $ 179,871 $ 195,441
Interest expense 48,406 38,563 130,145 88,767
Total net interest income 16,789 30,357 49,726 106,674
NET LOSS FROM REAL ESTATE:        
Rental income 34,176 35,354 107,427 90,779
Other real estate income 8,215 5,430 21,486 11,464
Total income from real estate 42,391 40,784 128,913 102,243
Interest expense, mortgages payable on real estate 21,604 16,136 68,158 36,445
Depreciation and amortization 6,204 32,933 18,371 120,914
Other real estate expenses 22,371 20,750 66,878 51,517
Total expenses related to real estate 50,179 69,819 153,407 208,876
Total net loss from real estate (7,788) (29,035) (24,494) (106,633)
OTHER INCOME (LOSS):        
Realized (losses) gains, net (3,679) 19,674 (2,220) 25,867
Unrealized losses, net (61,295) (152,078) (55,738) (303,430)
Gains on derivative instruments, net 20,993 24,943 38,204 24,943
Income (loss) from equity investments 2,056 (3,098) 9,223 11,056
Impairment of real estate (44,157) 0 (71,296) 0
Other income 139 12,747 1,712 15,275
Total other (loss) income (85,943) (97,812) (80,115) (226,289)
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:        
General and administrative expenses 11,826 11,610 37,824 39,143
Portfolio operating expenses 5,161 10,124 17,882 32,303
Total general, administrative and operating expenses 16,987 21,734 55,706 71,446
LOSS FROM OPERATIONS BEFORE INCOME TAXES (93,929) (118,224) (110,589) (297,694)
Income tax benefit (56) (330) (59) (262)
NET LOSS (93,873) (117,894) (110,530) (297,432)
Net loss attributable to non-controlling interests 9,364 2,617 19,957 36,409
Net (loss) income attributable to Company (84,509) (115,277) (90,573) (261,023)
Preferred stock dividends (10,435) (10,493) (31,394) (31,478)
Gain on repurchase of preferred stock 125 0 467 0
Net loss attributable to Company's common stockholders (94,819) (125,770) (121,500) (292,501)
Net loss attributable to Company's common stockholders $ (94,819) $ (125,770) $ (121,500) $ (292,501)
Basic loss per common share (in dollars per share) $ (1.04) $ (1.33) $ (1.33) $ (3.08)
Diluted loss per common share (in dollars per share) $ (1.04) $ (1.33) $ (1.33) $ (3.08)
Weighted average shares outstanding-basic (in shares) 90,984 94,269 91,163 94,919
Weighted average shares outstanding-diluted (in shares) 90,984 94,269 91,163 94,919