Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Real estate held for use:
Land	$ 322,062	$ 220,800
Rental residential properties	1,381,110	926,320
Real estate owned	64,036	289,141
Total real estate held for use	1,767,208	1,436,261
Less: accumulated depreciation	(73,655)	(27,541)
Total real estate held for use, net	1,693,553	1,408,720
Real estate assets held for sale	75,718	133,327
Mortgage loans, at fair value	11,477	460,444
Mortgage loans held for sale	0	108,036
Cash and cash equivalents	113,666	106,276
Restricted cash	47,822	22,947
Accounts receivable, net	19,555	34,931
Prepaid expenses and other assets	12,758	10,166
Total assets	1,974,549	2,284,847
Liabilities:
Repurchase and loan agreements	1,270,157	1,220,972
Other secured borrowings	0	144,099
Accounts payable and accrued liabilities	55,639	51,442
Related party payables	4,151	5,266
Total liabilities	1,329,947	1,421,779
Commitments and contingencies (Note 8)	0	0
Equity:
Common stock, $0.01 par value, 200,000,000 authorized shares; 53,447,950 and 53,667,631 shares issued and outstanding as of December 31, 2017 and 2016, respectively	534	537
Additional paid-in capital	1,181,327	1,182,245
Accumulated deficit	(537,259)	(319,714)
Total equity	644,602	863,068
Total liabilities and equity	$ 1,974,549	$ 2,284,847