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Segment Reporting (Table)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Performance Based Segment Reporting Information

The Company evaluates performance based on the following financial measures (in thousands):

 

Year ended December 31, 2021

 

Loans

 

 

Other

 

 

Total

 

Interest and related income

 

$

415,263

 

 

$

—

 

 

$

415,263

 

Less: interest and related expense

 

 

180,589

 

 

 

15,643

 

 

 

196,232

 

Net interest income

 

 

234,674

 

 

 

(15,643

)

 

 

219,031

 

Revenue from real estate owned

 

 

—

 

 

 

27,984

 

 

 

27,984

 

Total revenue

 

 

234,674

 

 

 

12,341

 

 

 

247,015

 

Management fees - affiliate

 

 

—

 

 

 

39,135

 

 

 

39,135

 

Equity compensation

 

 

—

 

 

 

8,812

 

 

 

8,812

 

General and administrative expenses

 

 

—

 

 

 

12,591

 

 

 

12,591

 

Expenses from real estate owned

 

 

—

 

 

 

32,194

 

 

 

32,194

 

Total expenses

 

 

—

 

 

 

92,732

 

 

 

92,732

 

Realized gain (loss) on sale of investments

 

 

(141

)

 

 

—

 

 

 

(141

)

Gain on foreclosure of real estate owned

 

 

—

 

 

 

1,430

 

 

 

1,430

 

Other income

 

 

—

 

 

 

5,855

 

 

 

5,855

 

Reversal of current expected credit loss

 

 

8,962

 

 

 

—

 

 

 

8,962

 

Total other income

 

 

8,821

 

 

 

7,285

 

 

 

16,106

 

Segment income (loss)

 

$

243,495

 

 

$

(73,106

)

 

$

170,389

 

Total Assets as of December 31, 2021

 

$

7,015,804

 

 

$

439,467

 

 

$

7,455,271

 

 

Year ended December 31, 2020

 

Loans

 

 

Other

 

 

Total

 

Interest and related income

 

$

445,940

 

 

$

—

 

 

$

445,940

 

Less: interest and related expense

 

 

172,232

 

 

 

—

 

 

 

172,232

 

Net interest income

 

 

273,708

 

 

 

—

 

 

 

273,708

 

Management fees - affiliate

 

 

—

 

 

 

38,960

 

 

 

38,960

 

Incentive fees - affiliate

 

 

—

 

 

 

7,766

 

 

 

7,766

 

Equity compensation

 

 

—

 

 

 

5,670

 

 

 

5,670

 

General and administrative expenses

 

 

—

 

 

 

9,004

 

 

 

9,004

 

Total expenses

 

 

—

 

 

 

61,400

 

 

 

61,400

 

Realized gain (loss) on sale of investments

 

 

(640

)

 

 

—

 

 

 

(640

)

Provision for loan losses

 

 

(6,000

)

 

 

—

 

 

 

(6,000

)

Total other income (loss)

 

 

(6,640

)

 

 

—

 

 

 

(6,640

)

Segment income (loss)

 

$

267,068

 

 

$

(61,400

)

 

$

205,668

 

Total Assets as of December 31, 2020

 

$

6,952,543

 

 

$

—

 

 

$

6,952,543

 

Year ended December 31, 2019

 

Loans

 

 

Other

 

 

Total

 

Interest and related income

 

$

389,361

 

 

$

—

 

 

$

389,361

 

Less: interest and related expense

 

 

139,747

 

 

 

—

 

 

 

139,747

 

Net interest income

 

 

249,614

 

 

 

—

 

 

 

249,614

 

Management fees - affiliate

 

 

 

 

 

 

32,611

 

 

 

32,611

 

Incentive fees - affiliate

 

 

 

 

 

 

10,219

 

 

 

10,219

 

Equity compensation

 

 

 

 

 

 

29,489

 

 

 

29,489

 

General and administrative expenses

 

 

 

 

 

 

3,392

 

 

 

3,392

 

Total expenses

 

 

—

 

 

 

75,711

 

 

 

75,711

 

Equity in income from investment in CMTG/CN

   Mortgage REIT LLC

 

 

—

 

 

 

40

 

 

 

40

 

Realized gain (loss) on sale of investments

 

 

103

 

 

 

—

 

 

 

103

 

Provision for loan losses

 

 

—

 

 

 

—

 

 

 

—

 

Total other income (loss)

 

 

103

 

 

 

40

 

 

 

143

 

Segment income

 

$

249,717

 

 

$

(75,671

)

 

$

174,046

 

Total Assets as of December 31, 2019

 

$

6,548,121

 

 

$

—

 

 

$

6,548,121