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SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Schedule of Company's performance evaluation by segment The Company evaluates performance based on the following financial measures for each segment ($ in thousands):
 
Loans
 
Securities
 
Real
Estate(1)
 
Corporate/Other(2)
 
Company
Total
 
 
 
 
 
 
 
 
 
 
Three months ended March 31, 2017
 

 
 

 
 

 
 

 
 

Interest income
$
44,297

 
$
13,208

 
$
3

 
$
4

 
$
57,512

Interest expense
(6,253
)
 
(1,853
)
 
(6,550
)
 
(16,759
)
 
(31,415
)
Net interest income (expense)
38,044

 
11,355

 
(6,547
)
 
(16,755
)
 
26,097

Provision for loan losses
—

 
—

 
—

 
—

 
—

Net interest income (expense) after provision for loan losses
38,044

 
11,355

 
(6,547
)
 
(16,755
)
 
26,097

 
 
 
 
 
 
 
 
 
 
Operating lease income
—

 
—

 
19,630

 
—

 
19,630

Tenant recoveries
—

 
—

 
1,579

 
—

 
1,579

Sale of loans, net
(999
)
 
—

 
—

 
—

 
(999
)
Realized gain on securities
—

 
5,361

 
—

 
—

 
5,361

Unrealized gain (loss) on Agency interest-only securities
—

 
159

 
—

 
—

 
159

Realized gain (loss) on sale of real estate, net
—

 
—

 
2,331

 
—

 
2,331

Fee and other income
1,621

 
—

 
1,973

 
872

 
4,466

Net result from derivative transactions
(1,681
)
 
(300
)
 
—

 
—

 
(1,981
)
Earnings (loss) from investment in unconsolidated joint ventures
—

 
—

 
(74
)
 
—

 
(74
)
Loss on extinguishment of debt
—

 
—

 
—

 
(54
)
 
(54
)
Total other income (expense)
(1,059
)
 
5,220

 
25,439

 
818

 
30,418

 
 
 
 
 
 
 
 
 
 
Salaries and employee benefits
(1,000
)
 
—

 
—

 
(15,042
)
 
(16,042
)
Operating expenses
43

 
—

 
—

 
(5,522
)
 
(5,479
)
Real estate operating expenses
—

 
—

 
(7,473
)
 
—

 
(7,473
)
Real estate acquisition costs
—

 
—

 
19

 
—

 
19

Fee expense
(535
)
 
(94
)
 
(64
)
 
—

 
(693
)
Depreciation and amortization
—

 
—

 
(8,569
)
 
(23
)
 
(8,592
)
Total costs and expenses
(1,492
)
 
(94
)
 
(16,087
)
 
(20,587
)
 
(38,260
)
 
 
 
 
 
 
 
 
 
 
Income tax (expense) benefit
—

 
—

 
—

 
1,375

 
1,375

Segment profit (loss)
$
35,493

 
$
16,481

 
$
2,805

 
$
(35,149
)
 
$
19,630

 
 
 
 
 
 
 
 
 
 
Total assets as of March 31, 2017
$
2,816,675

 
$
1,701,980

 
$
848,538

 
$
574,429

 
$
5,941,622

 
Loans
 
Securities
 
Real
Estate(1)
 
Corporate/Other(2)
 
Company
Total
 
 
 
 
 
 
 
 
 
 
Three months ended March 31, 2016
 

 
 

 
 

 
 

 
 

Interest income
$
41,328

 
$
18,256

 
$
—

 
$
17

 
$
59,601

Interest expense
(6,151
)
 
(1,970
)
 
(6,195
)
 
(15,220
)
 
(29,536
)
Net interest income (expense)
35,177

 
16,286

 
(6,195
)
 
(15,203
)
 
30,065

Provision for loan losses
(150
)
 
—

 
—

 
—

 
(150
)
Net interest income (expense) after provision for loan losses
35,027

 
16,286

 
(6,195
)
 
(15,203
)
 
29,915

 
 
 
 
 
 
 
 
 
 
Operating lease income
—

 
—

 
19,294

 
—

 
19,294

Tenant recoveries
—

 
—

 
1,335

 
—

 
1,335

Sale of loans, net
7,830

 
—

 
—

 
—

 
7,830

Realized gain on securities
—

 
(573
)
 
—

 
—

 
(573
)
Unrealized gain (loss) on Agency interest-only securities
—

 
660

 
—

 
—

 
660

Realized gain on sale of real estate, net
641

 
—

 
5,454

 
—

 
6,095

Fee and other income
1,805

 
—

 
342

 
828

 
2,975

Net result from derivative transactions
(16,125
)
 
(34,737
)
 
—

 
—

 
(50,862
)
Earnings from investment in unconsolidated joint ventures
—

 
—

 
(98
)
 
892

 
794

Gain (loss) on extinguishment of debt
—

 
—

 
—

 
5,382

 
5,382

Total other income
(5,849
)
 
(34,650
)
 
26,327

 
7,102

 
(7,070
)
 
 
 
 
 
 
 
 
 
 
Salaries and employee benefits
(1,500
)
 
—

 
—

 
(11,115
)
 
(12,615
)
Operating expenses
—

 
—

 
(422
)
 
(5,873
)
 
(6,295
)
Real estate operating expenses
—

 
—

 
(5,719
)
 
—

 
(5,719
)
Fee expense
(436
)
 
—

 
(114
)
 
(181
)
 
(731
)
Depreciation and amortization
—

 
—

 
(9,797
)
 
(5
)
 
(9,802
)
Total costs and expenses
(1,936
)
 
—

 
(16,052
)
 
(17,174
)
 
(35,162
)
 
 
 
 
 
 
 
 
 
 
Income tax expense
—

 
—

 
—

 
873

 
873

Segment profit (loss)
$
27,242

 
$
(18,364
)
 
$
4,080

 
$
(24,402
)
 
$
(11,444
)
 
 
 
 
 
 
 
 
 
 
Total assets as of December 31, 2016
$
2,353,977

 
$
2,100,947

 
$
856,363

 
$
267,050

 
$
5,578,337

 
(1)
Includes the Company’s investment in unconsolidated joint ventures that held real estate of $34.2 million and $34.0 million as of March 31, 2017 and December 31, 2016, respectively
(2)
Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company’s investment in unconsolidated joint ventures and strategic investments that are not related to the other reportable segments above, including the Company’s investment in FHLB stock of $77.9 million as of March 31, 2017 and December 31, 2016, the Company’s deferred tax asset of $4.8 million and $2.1 million as of March 31, 2017 and December 31, 2016, respectively and the Company’s senior unsecured notes of $1.0 billion and $559.8 million as of March 31, 2017 and December 31, 2016, respectively.