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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
NET INTEREST INCOME:        
Interest income $ 90,775 $ 57,540 $ 174,666 $ 114,676
Interest expense 71,731 42,404 137,759 81,739
Total net interest income 19,044 15,136 36,907 32,937
NET LOSS FROM REAL ESTATE:        
Rental income 30,817 36,970 63,971 73,251
Other real estate income 5,649 7,806 10,572 13,270
Total income from real estate 36,466 44,776 74,543 86,521
Interest expense, mortgages payable on real estate 16,551 24,075 37,320 46,554
Depreciation and amortization 12,235 6,128 24,811 12,167
Other real estate expenses 20,786 22,328 41,885 44,508
Total expenses related to real estate 49,572 52,531 104,016 103,229
Total net loss from real estate (13,106) (7,755) (29,473) (16,708)
OTHER (LOSS) INCOME:        
Realized (losses) gains, net (7,491) 378 (18,024) 1,459
Unrealized (losses) gains, net (16,512) (27,294) (55,902) 5,557
Gains on derivative instruments, net 15,471 21,573 64,682 17,211
Income from equity investments 6,108 2,656 3,973 7,168
Impairment of real estate (4,071) (16,864) (40,319) (27,139)
Loss on reclassification of disposal group 0 0 (14,636) 0
Other income (loss) 415 297 (3,175) 1,574
Total other (loss) income (6,080) (19,254) (63,401) 5,830
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:        
General and administrative expenses 11,648 13,316 24,703 25,999
Portfolio operating expenses 7,399 5,649 15,141 12,721
Debt issuance costs 4,552 0 8,098 0
Total general, administrative and operating expenses 23,599 18,965 47,942 38,720
LOSS FROM OPERATIONS BEFORE INCOME TAXES (23,741) (30,838) (103,909) (16,661)
Income tax expense (benefit) 342 (18) 232 (3)
NET LOSS (24,083) (30,820) (104,141) (16,658)
Net loss attributable to non-controlling interests 8,494 3,892 30,652 10,593
NET LOSS ATTRIBUTABLE TO COMPANY (15,589) (26,928) (73,489) (6,065)
Preferred stock dividends (10,439) (10,474) (20,878) (20,958)
Gain on repurchase of preferred stock 0 200 0 342
NET LOSS ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS (26,028) (37,202) (94,367) (26,681)
NET LOSS ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS $ (26,028) $ (37,202) $ (94,367) $ (26,681)
Basic loss per common share (in dollars per share) $ (0.29) $ (0.41) $ (1.04) $ (0.29)
Diluted loss per common share (in dollars per share) $ (0.29) $ (0.41) $ (1.04) $ (0.29)
Weighted average shares outstanding-basic (in shares) 90,989 91,193 91,053 91,254
Weighted average shares outstanding-diluted (in shares) 90,989 91,193 91,053 91,254