Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 187,301	$ 306,456
Restricted cash	27,588	41,703
Loan principal payments held by servicer	11,000
Loans receivable held-for-investment	7,020,383	7,489,074
Less: current expected credit loss reserve	(142,958)	(128,647)
Loans receivable held-for-investment, net	6,877,425	7,360,427
Loans receivable held-for-sale	261,709
Equity method investment	42,474	41,880
Real estate owned, net	522,959	401,189
Other assets	138,905	89,858
Total assets	8,069,361	8,241,513
Liabilities and Equity
Repurchase agreements	3,805,678	3,966,859
Term participation facility	465,434	257,531
Loan participations sold, net	120,508	263,798
Notes payable, net	283,341	149,521
Secured term loan, net	712,576	736,853
Debt related to real estate owned, net	289,913	289,389
Other liabilities	47,368	59,223
Dividends payable	35,328	52,001
Management fee payable - affiliate	9,315	9,867
Total liabilities	5,769,461	5,785,042
Commitments and contingencies - Note 14
Equity
Common stock, $0.01 par value, 500,000,000 shares authorized, 138,745,357 and 140,055,714 shares issued and 138,745,357 and 138,376,144 shares outstanding at December 31, 2023 and 2022, respectively	1,387	1,400
Additional paid-in capital	2,725,217	2,712,316
Accumulated deficit	(426,704)	(257,245)
Total equity	2,299,900	2,456,471
Total liabilities and equity	$ 8,069,361	$ 8,241,513