Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net loss	$ (16,220)	$ (43,525)
Adjustments to reconcile net loss to net cash used in operating activities:
Net gain on real estate and mortgage loans	(1,370)	(12,619)
Depreciation and amortization	40,608	42,321
Impairment	889	2,596
Share-based compensation	2,423	2,930
Amortization of deferred financing costs	3,657	2,528
Casualty losses	632	577
Insurance recoveries	(75)	(538)
Change in fair value of interest rate cap derivatives in profit or loss	2,761	2,235
Changes in operating assets and liabilities:
Accounts receivable	859	2,630
Deferred leasing costs	(1,477)	(1,418)
Prepaid expenses and other assets	(2,913)	(30)
Accounts payable and accrued liabilities	3,366	(6,557)
Payable to AAMC	(1,128)	24
Net cash provided by (used in) operating activities	32,012	(8,846)
Investing activities:
Investment in real estate	(543)	(7,374)
Investment in renovations	(16,205)	(13,707)
Payment of real estate tax advances	0	(29)
Proceeds from mortgage loan resolutions and dispositions	0	1,690
Receipt of mortgage loan payments	0	138
Proceeds from dispositions of real estate	21,456	144,432
Proceeds from casualty insurance	75	1,550
Net cash provided by investing activities	4,783	126,700
Financing activities:
Proceeds from issuance of common stock, including stock option exercises	55,086	137
Payment of tax withholdings on share-based compensation plan awards	(21)	(76)
Shares withheld for taxes upon vesting of restricted stock	(1,183)	(438)
Dividends on common stock	(8,557)	(16,237)
Proceeds from repurchase and loan agreements	42,568	32,068
Repayments of repurchase and loan agreements	(57,530)	(131,983)
Payment of financing costs	(3,642)	(463)
Principal repayments of finance leases	(513)	(632)
Net cash provided by (used in) financing activities	26,208	(117,624)
Net change in cash, cash equivalents and restricted cash	63,003	230
Cash, cash equivalents and restricted cash as of beginning of the period	78,009	81,160
Cash, cash equivalents and restricted cash as of end of the period	141,012	81,390
Cash paid for:
Interest	32,687	38,911
Non-cash transactions:
Transfer of mortgage loans to real estate owned, net	0	3,740
Changes in accrued capital expenditures	(202)	(2,064)
Changes in receivables from mortgage loan resolutions and dispositions, payments and real estate tax advances to borrowers, net	0	(68)
Changes in receivables from real estate owned dispositions	(3,205)	(8,767)
Change in other comprehensive loss from cash flow hedges	1,050	(8,856)
Right-of-use lease assets recognized - operating leases	0	1,485
Right-of-use lease assets recognized - finance leases	333	1,103
Operating lease liabilities incurred	0	1,437
Finance lease liabilities incurred	333	1,109
Dividends declared but not paid	$ 405	$ 8,376