Combined Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 89,458	$ 85,820
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	29,238	21,274
Unrealized (gain) loss on derivative instruments	8,407	2,753
Unrealized (gain) loss on Agency interest-only securities	639	(466)
Provision for loan losses	450	450
Amortization of equity based compensation	11,342	10,304
Amortization of deferred financing costs included in interest expense	4,167	4,081
Amortization of premium on mortgage loan financing	(678)	(471)
Amortization of above- and below-market lease intangibles	(201)	533
Accretion/amortization of discount, premium and other fees on loans	(8,584)	(4,342)
Accretion/amortization of discount, premium and other fees on securities	67,773	68,094
Capitalization of interest on investment in unconsolidated joint ventures	(128)	0
Realized gain on sale of mortgage loan receivables held for sale	(59,717)	(107,135)
Realized gain on real estate securities	(23,680)	(21,259)
Realized gain on sale of real estate, net	(21,347)	(24,225)
Realized gain on assignment of mortgage loan financing	0	(432)
Origination of mortgage loan receivables held for sale	(1,781,355)	(2,027,845)
Repayment of mortgage loan receivables held for sale	1,613	951
Proceeds from sales of mortgage loan receivables held for sale	1,923,883	2,379,818
Accrued interest receivable	2,438	(6,103)
Earnings on investment in unconsolidated joint ventures	(580)	(1,662)
Distributions from operations of investment in unconsolidated joint ventures	294	1,732
Deferred tax asset	(1,588)	(5,544)
Changes in operating assets and liabilities:
Other assets	(4,278)	(26,292)
Amount payable pursuant to tax receivable agreement	0	672
Accrued expenses and other liabilities	(31,443)	16,006
Net cash provided by (used in) operating activities	206,123	366,712
Cash flows from investing activities:
Reduction (addition) of cash collateral held by broker for derivatives	(4,877)	(791)
Purchase of derivative instruments	0	(7)
Purchases of real estate securities	(578,299)	(1,286,236)
Repayment of real estate securities	142,680	165,755
Proceeds from sales of real estate securities	788,964	565,097
Purchase of FHLB stock	(7,984)	(10,290)
Sale of FHLB stock	2,409	0
Origination and purchases of mortgage loan receivables held for investment	(840,652)	(951,438)
Repayment of mortgage loan receivables held for investment	575,028	159,329
Reduction (addition) of cash collateral held by broker	(3,605)	(25,214)
Addition of deposits received for loan originations	1,226	6,461
Title deposits included in other assets	(3,382)	(5,289)
Capital contributions to investment in unconsolidated joint ventures	(31,085)	0
Distributions of return of capital from investment in unconsolidated joint ventures	3,747	3,255
Purchases of real estate	(166,763)	(126,997)
Capital improvements of real estate	(2,006)	(1,971)
Proceeds from sale of real estate	84,656	103,462
Net cash provided by (used in) investing activities	(39,943)	(1,404,874)
Cash flows from financing activities:
Deferred financing costs paid	(1,924)	(7,215)
Proceeds from borrowings under debt obligations	12,833,258	11,484,815
Repayment of borrowings under debt obligations	(12,790,584)	(10,922,908)
Cash dividends paid to Class A common shareholders	(39,934)	0
Proceeds from Notes issued	0	300,000
Partners’ capital distributions	0	(369)
Capital distributed to noncontrolling interests in operating partnership	(56,274)	(44,829)
Capital contributed by noncontrolling interests in consolidated joint ventures	74	1,278
Capital distributed to noncontrolling interests in consolidated joint ventures	(589)	(2,046)
Payment of liability assumed in exchange for shares for the minimum withholding taxes on vesting restricted stock	(4,885)	(125)
Issuance of common stock	0	259,037
Common stock offering costs	0	(20,523)
Adjustment to tax receivable agreement as a result of the exchange of Class B shares	0	138
Net cash provided by (used in) financing activities	(60,858)	1,047,253
Net increase (decrease) in cash	105,322	9,091
Cash and cash equivalents at beginning of period	76,218	78,742
Cash and cash equivalents at end of period	181,540	87,833
Supplemental information:
Cash paid for interest	90,565	50,509
Cash paid for income taxes	19,676	9,539
Supplemental disclosure of non-cash investing activities:
Securities purchased, not settled	(2,012)	0
Securities sold, not settled	0	3
Supplemental disclosure of non-cash financing activities:
Exchange of capital for common stock	0	483,568
Exchange of predecessor LP Units for common stock	0	697,097
Exchange of noncontrolling interest for common stock	51,072	0
Change in deferred tax asset related to change in tax receivable agreement	1,615	1,293
Mortgage debt assumed by buyer in real estate sale	$ 11,310	$ 0