Concentration of Credit Risk (Tables)

3 Months Ended

Mar. 31, 2019

Loans And Leases Receivable Disclosure [Line Items]

Summary of Loan Portfolio by Property/ Loan Category Type

Property Type

A summary of the loan portfolio by property type as of March 31, 2019 and December 31, 2018 based on total loan commitment and current unpaid principal balance (“UPB”) is as follows (dollars in thousands):

	As of March 31, 2019
Property Type	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
Office	$	1,926,459	$	312,218		35.9	%	$	1,614,241		34.2	%
Multifamily		1,384,512		129,447		25.8			1,255,065		26.5
Mixed Use		919,485		107,801		17.1			811,684		17.1
Hotel		667,793		37,188		12.4			630,605		13.3
Retail		233,554		48,844		4.3			184,710		3.9
Condominium		129,868		5,211		2.4			124,657		2.6
Industrial		—		—		—			—		—
Other		112,000		—		2.1			112,000		2.4
Total	$	5,373,671	$	640,709		100.0	%	$	4,732,962		100.0	%
	As of December 31, 2018
Property Type	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
Office	$	1,898,511	$	316,510		38.5	%	$	1,582,001		36.8	%
Multifamily		1,247,860		131,177		25.2			1,116,683		25.9
Mixed Use		838,200		114,748		16.9			723,452		16.8
Hotel		508,450		10,896		10.3			497,554		11.5
Retail		233,555		50,247		4.7			183,308		4.2
Condominium		154,673		10,580		3.1			144,093		3.3
Industrial		66,500		—		1.3			66,500		1.5
Other		—		—		—			—		—
Total	$	4,947,749	$	634,158		100.0	%	$	4,313,591		100.0	%

Summary of Geographic Composition of Loans Held for Investment Based on Current UPB and Loan Commitment

All of the Company’s loans held for investment are secured by properties within the United States. The geographic composition of loans held for investment based on total loan commitment and current UPB is as follows (dollars in thousands):

	March 31, 2019
Geographic Region	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
East	$	2,070,677	$	159,512		38.6	%	$	1,911,165		40.5	%
South		1,586,916		259,802		29.5			1,327,114		28.0
West		902,274		77,586		16.8			824,688		17.4
Midwest		725,704		122,509		13.5			603,195		12.7
Various		88,100		21,300		1.6			66,800		1.4
Total	$	5,373,671	$	640,709		100.0	%	$	4,732,962		100.0	%
	December 31, 2018
Geographic Region	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
East	$	2,084,807	$	170,131		42.1	%	$	1,914,676		44.4	%
South		1,525,173		270,933		30.8			1,254,240		29.1
West		760,416		100,422		15.4			659,994		15.3
Midwest		577,353		92,672		11.7			484,681		11.2
Various		—		—		—			—		—
Total	$	4,947,749	$	634,158		100.0	%	$	4,313,591		100.0	%

Loan Category

Loans And Leases Receivable Disclosure [Line Items]

Summary of Loan Portfolio by Property/ Loan Category Type

A summary of the loan portfolio by category as of March 31, 2019 and December 31, 2018 based on total loan commitment and current UPB is as follows (dollars in thousands):

	March 31, 2019
Loan Category	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
Bridge	$	2,661,392	$	193,047		49.5	%	$	2,468,345		52.1	%
Light Transitional		1,460,627		168,838		27.2			1,291,789		27.3
Moderate Transitional		1,251,652		278,824		23.3			972,828		20.6
Total	$	5,373,671	$	640,709		100.0	%	$	4,732,962		100.0	%
	December 31, 2018
Loan Category	Loan Commitment		Unfunded Commitment		% of Loan Commitment			Loan UPB		% of Loan UPB
Bridge	$	2,414,456	$	199,397		48.8	%	$	2,215,059		51.3	%
Light Transitional		1,513,227		212,290		30.6			1,300,937		30.2
Moderate Transitional		1,020,066		222,471		20.6			797,595		18.5
Total	$	4,947,749	$	634,158		100.0	%	$	4,313,591		100.0	%

Loan commitments represent principal commitments made by the Company at March 31, 2019 and December 31, 2018, respectively.