Combined Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016		Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ 113,720		$ 146,134	$ 97,626
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
(Gain) loss on extinguishment of debt	(5,382)		0	150
Depreciation and amortization	39,447		39,061	28,447
Unrealized (gain) loss on derivative instruments	(4,224)		(10,182)	14,378
Unrealized (gain) loss on Agency interest-only securities	56		1,249	(2,144)
Unrealized (gain) loss on investment in mutual fund	14		0	0
Provision for loan losses	300		600	600
Amortization of equity based compensation	17,640		13,788	14,451
Amortization of deferred financing costs included in interest expense	7,459		5,757	5,802
Amortization of premium on mortgage loan financing	(894)		(902)	(629)
Amortization of above- and below-market lease intangibles	(108)		(249)	652
Amortization of premium/(accretion) of discount and other fees on loans	(8,941)		(12,241)	(6,918)
Amortization of premium/(accretion) of discount and other fees on securities	76,475		87,906	91,306
Realized gain on sale of mortgage loan receivables held for sale	(26,009)		(71,066)	(145,275)
Realized gain on disposition of loan	0		(820)	0
Realized (gain) loss on real estate securities	(7,724)		(24,007)	(26,977)
Realized gain on sale of real estate, net	(20,636)		(40,386)	(29,760)
Realized gain on assignment of mortgage loan financing	0		0	(432)
Realized gain on sale of derivative instruments	24		0	0
Origination of mortgage loan receivables held for sale	(1,128,651)		(2,594,141)	(3,345,372)
Purchases of mortgage loan receivables held for sale	73,421		0	0
Repayment of mortgage loan receivables held for sale	1,768		2,308	1,293
Proceeds from sales of mortgage loan receivables held for sale	1,440,195		2,509,090	3,523,689
Income from investments in unconsolidated joint ventures in excess of distributions received	(426)		(371)	(1,990)
Distributions from operations of investment in unconsolidated joint ventures	1,017		294	1,957
Deferred tax asset	1,868		2,900	(7,175)
Changes in operating assets and liabilities:
Accrued interest receivable	(1,662)		621	(9,687)
Other assets	(3,673)		(1,770)	(17,446)
Accrued expenses and other liabilities	(9,085)		(12,985)	22,126
Net cash provided by (used in) operating activities	409,147		40,588	208,672
Cash flows from investing activities:
Reduction (addition) of cash collateral held by broker for derivatives	7,616		16,918	(13,864)
Purchase of derivative instruments	(73)		0	(7)
Sale of derivative instruments	39		0	0
Purchases of real estate securities	(977,062)		(725,888)	(2,157,391)
Repayment of real estate securities	684,143		186,902	186,310
Proceeds from sales of real estate securities	539,295		845,648	768,590
Purchase of FHLB stock	0		(7,984)	(22,890)
Sale of FHLB stock	0		2,409	0
Origination of mortgage loan receivables held for investment	(919,023)		(963,023)	(1,201,968)
Repayment of mortgage loan receivables held for investment	649,914		752,452	214,511
Reduction (addition) of cash collateral held by broker	3,793		(5,291)	(53)
Addition (reduction) of deposits received for loan originations	960		(2,368)	(91)
Escrow cash and title deposits included in other assets	(4,014)		5,375	(9,621)
Capital contributions to investment in unconsolidated joint ventures	0		(31,085)	0
Distributions received from investments in unconsolidated joint ventures in excess of income	48		3,747	3,255
Capitalization of interest on investment in unconsolidated joint ventures	(867)		(341)	0
Capital contributions to investment in mutual fund	(10,001)		0	0
Purchases of real estate	(62,495)		(197,501)	(254,497)
Capital improvements of real estate	(10,640)		(8,375)	(5,192)
Proceeds from sale of real estate	72,953	[1]	98,558	123,444
Net cash provided by (used in) investing activities	(25,414)		(29,847)	(2,369,464)
Cash flows from financing activities:
Deferred financing costs paid	(5,927)		(2,330)	(9,863)
Proceeds from borrowings under debt obligations	12,359,830		16,280,023	16,885,636
Repayment of borrowings under debt obligations	(12,689,064)		(16,137,339)	(14,907,233)
Cash dividends paid to Class A common shareholders	(67,166)		(39,934)	0
Partners’ capital distributions	0		0	(369)
Payment of liability assumed in exchange for shares for the minimum withholding taxes on vesting restricted stock	(786)		(4,897)	(125)
Purchase of treasury stock	(4,652)		(994)	0
Issuance of common stock	0		0	259,037
Common stock offering costs	0		0	(20,523)
Net cash provided by (used in) financing activities	(448,077)		22,000	2,158,268
Net increase (decrease) in cash	(64,344)		32,741	(2,524)
Cash and cash equivalents at beginning of period	108,959		76,218	78,742
Cash and cash equivalents at end of period	44,615		108,959	76,218
Supplemental information:
Cash paid for interest, net of amounts capitalized	115,246		107,362	63,171
Cash paid for income taxes	8,775		7,306	45,981
Non-cash investing and financing activities:
Securities and derivatives purchased, not settled	(394)		0	0
Securities sold, not settled	0		4	3
Origination of mortgage loans receivable held for investment	50,400		0	0
Repayment of mortgage loans receivable held for investment	(70,678)		0	0
Settlement of mortgage loan receivable held for investment by real estate	0		4,620	0
Acquisitions	0		15,249	0
Dispositions	0		(62,093)	0
Receivable from qualified intermediary - other assets	0		6,483	0
Real estate acquired in settlement of mortgage loan receivable held for investment	0		6,700	0
Net settlement of sale of real estate, subject to debt - real estate	0		(11,310)	0
Net settlement of sale of real estate, subject to debt - debt obligations	0		51,060	0
Exchange of noncontrolling interest for common stock	145,841		53,659	0
Change in deferred tax asset related to exchanges of noncontrolling interest for common stock	980		(320)	1,014
Dividends declared, not paid	23,364		17,456	0
Stock dividends	64,100		0	0
Proceeds from sale of real estate related to prior year sales	(6,500)
Operating Partnership
Cash flows from financing activities:
Capital contributed by noncontrolling interests in operating partnership	250		0	0
Capital distributed to noncontrolling interests in operating partnership	(39,805)		(68,673)	(47,926)
Consolidated Joint Venture
Cash flows from financing activities:
Capital contributed by noncontrolling interests in operating partnership	0		74	1,841
Capital distributed to noncontrolling interests in operating partnership	$ (757)		$ (3,930)	$ (2,207)

[1] Includes cash proceeds received in the current year that relate to prior year sales of real estate of $6.5 million.