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Combined Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net interest income    
Interest income $ 59,601 $ 56,383
Interest expense 29,536 26,824
Net interest income 30,065 29,559
Provision for loan losses 150 150
Net interest income after provision for loan losses 29,915 29,409
Other income    
Operating lease income 19,294 19,147
Tenant recoveries 1,335 2,526
Sale of loans, net 7,830 30,027
Realized gain (loss) on securities (573) 12,150
Unrealized gain (loss) on Agency interest-only securities 660 (1,318)
Realized gain on sale of real estate, net 6,095 7,662
Fee and other income 2,975 3,541
Net result from derivative transactions (50,862) (39,139)
Earnings from investment in unconsolidated joint ventures 794 441
Gain on extinguishment of debt 5,382 0
Total other income (loss) (7,070) 35,037
Costs and expenses    
Salaries and employee benefits 12,615 13,758
Operating expenses 6,295 8,803
Real estate operating expenses 5,719 9,372
Real estate acquisition costs 0 600
Fee expense 731 1,123
Depreciation and amortization 9,802 9,723
Total costs and expenses 35,162 43,379
Income (loss) before taxes (12,317) 21,067
Income tax expense (benefit) (873) 3,104
Net income (loss) (11,444) 17,963
Net (income) loss attributable to noncontrolling interest in consolidated joint ventures 232 (191)
Net (income) loss attributable to noncontrolling interest in operating partnership $ 5,673 (8,597)
Net income (loss) attributable to Class A common shareholders   $ 9,175
Earnings per share:    
Basic (in dollars per share) $ (0.09) $ 0.18
Diluted (in dollars per share) $ (0.09) $ 0.15
Weighted average shares outstanding    
Basic (in shares) 59,596,889 49,986,082
Diluted (in shares) 59,596,889 98,098,672
Class A Common Stock    
Costs and expenses    
Net income (loss) attributable to Class A common shareholders $ (5,539) $ 9,175
Earnings per share:    
Basic (in dollars per share) $ (0.09) $ 0.18
Diluted (in dollars per share) $ (0.09) $ 0.15
Weighted average shares outstanding    
Basic (in shares) 59,596,889 49,986,082
Diluted (in shares) 59,596,889 98,098,672
Dividends per share of common stock (in dollars per share) $ 0.275 $ 0.25