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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
NET INTEREST INCOME:      
Interest income $ 401,280 $ 258,660 $ 258,388
Interest expense 317,425 192,134 129,419
Total net interest income 83,855 66,526 128,969
NET LOSS FROM REAL ESTATE:      
Rental income 112,488 141,057 126,293
Other real estate income 20,151 30,717 15,363
Total income from real estate 132,639 171,774 141,656
Interest expense, mortgages payable on real estate 60,232 90,221 56,011
Depreciation and amortization 39,822 24,620 126,824
Other real estate expenses 75,426 88,235 72,400
Total expenses related to real estate 175,480 203,076 255,235
Total net loss from real estate (42,841) (31,302) (113,579)
OTHER LOSS:      
Realized (losses) gains, net (29,351) (27,059) 26,625
Unrealized (losses) gains, net (90,530) 97,196 (347,363)
Gains (losses) on derivative instruments, net 95,996 (26,378) 27,206
Income from equity investments 16,011 17,785 15,074
Impairment of real estate (48,875) (89,548) (2,449)
Loss on reclassification of disposal group (14,636) (16,163) 0
Other income 29,149 4,736 18,738
Total other income (loss) (42,236) (39,431) (262,169)
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:      
General and administrative expenses 48,672 49,565 52,440
Portfolio operating expenses 30,688 23,952 40,888
Debt issuance costs 12,335 0 0
Total general, administrative and operating expenses 91,695 73,517 93,328
LOSS FROM OPERATIONS BEFORE INCOME TAXES (92,917) (77,724) (340,107)
Income tax expense 1,036 75 542
Net income (loss) (93,953) (77,799) (340,649)
Net loss attributable to non-controlling interests 31,924 29,134 42,044
Net income (loss) attributable to Company (62,029) (48,665) (298,605)
Preferred stock dividends (41,756) (41,837) (41,972)
Gain on repurchase of preferred stock 0 467 0
NET LOSS ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS (103,785) (90,035) (340,577)
NET LOSS ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS $ (103,785) $ (90,035) $ (340,577)
Basic loss per common share(in dollars per share) $ (1.14) $ (0.99) $ (3.61)
Diluted loss per common share (in dollars per share) $ (1.14) $ (0.99) $ (3.61)
Weighted average shares outstanding-basic (in shares) 90,815 91,042 94,322
Weighted average shares outstanding-diluted (in shares) 90,815 91,042 94,322