CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents		$ 88,960	$ 87,246
Restricted cash		90,229	21,876
Commercial mortgage loans, held for investment, net of allowance of $21,702 and $921 as of March 31, 2020 and December 31, 2019, respectively		2,640,979	2,762,042
Commercial mortgage loans, held-for-sale, measured at fair value		91,813	112,562
Commercial mortgage loans, held-for-sale		9,619	0
Real estate securities, available for sale, measured at fair value, amortized cost of $509,745 and $387,294 as of March 31, 2020 and December 31, 2019, respectively		441,160	386,316
Derivative instruments, at fair value		1,173	1,119
Other real estate investments, measured at fair value		2,496	2,557
Receivable for loan repayment	[1]	28,206	89,317
Accrued interest receivable		15,877	16,308
Prepaid expenses and other assets		10,848	5,322
Intangible lease asset, net of amortization		14,165	14,377
Operating right of use asset, net of amortization		5,902	5,979
Real estate owned, net of depreciation		49,306	35,333
Receivable for unsettled trades		11,152	266
Total assets		3,501,885	3,540,620
LIABILITIES AND STOCKHOLDERS' EQUITY
Collateralized loan obligations		1,739,009	1,803,185
Par Value Issued		40,167	29,167
Other financing and loan participation - commercial mortgage loans		15,190	0
Derivative instruments, at fair value		5,528	1,581
Interest payable		2,886	4,958
Distributions payable		6,956	6,912
Accounts payable and accrued expenses		10,008	10,925
Due to affiliates		14,038	4,789
Operating lease liabilities		6,176	6,136
Deferred rent revenue		61	150
Total liabilities		2,571,423	2,514,705
Commitment and contingencies (See Note 10)
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding as of March 31, 2020 and December 31, 2019		0	0
Common stock, $0.01 par value, 949,999,000 shares authorized, 44,396,346 and 43,916,815 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively		445	441
Additional paid-in capital		910,905	903,310
Accumulated other comprehensive income (loss)		(68,585)	(978)
Accumulated deficit		(121,500)	(85,968)
Total stockholders' equity		721,265	816,805
Total liabilities, redeemable convertible preferred stock and stockholders' equity		3,501,885	3,540,620
CMBS
ASSETS
Real estate securities, available for sale, measured at fair value, amortized cost of $509,745 and $387,294 as of March 31, 2020 and December 31, 2019, respectively		441,160	386,316
LIABILITIES AND STOCKHOLDERS' EQUITY
Repurchase agreements		234,524	252,543
Real Estate Securities
LIABILITIES AND STOCKHOLDERS' EQUITY
Repurchase agreements		496,880	394,359
Series A Convertible Preferred Stock
LIABILITIES AND STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding as of March 31, 2020 and December 31, 2019		202,235	202,144
Series C Convertible Preferred Stock
LIABILITIES AND STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding as of March 31, 2020 and December 31, 2019		$ 6,962	$ 6,966

[1] Includes $28.2 million and $89.3 million of cash held by servicer related to loan payoffs pledged to the CLOs as of March 31, 2020 and December 31, 2019, respectively.