CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 69,619	$ 77,317
Restricted cash	126,065	110,146
Loans and preferred equity held for investment, net	2,576,332	2,020,497
Real estate securities, available for sale, at fair value	252,824	228,185
Real estate, net	1,484,796	1,959,690
Investments in unconsolidated ventures ($10,283 and $160,851 at fair value, respectively)	595,305	903,037
Receivables, net	46,456	48,806
Deferred leasing costs and intangible assets, net	112,762	134,068
Assets held for sale	189,470	0
Other assets	87,707	62,006
Mortgage loans held in securitization trusts, at fair value	1,872,970	3,116,978
Total assets	7,414,306	8,660,730
Liabilities
Securitization bonds payable, net	833,153	81,372
Mortgage and other notes payable, net	1,256,112	1,173,019
Credit facilities	1,099,233	1,365,918
Due to related party (Note 11)	11,016	15,019
Accrued and other liabilities	140,424	106,187
Intangible liabilities, net	22,149	15,096
Liabilities related to assets held for sale	294	0
Escrow deposits payable	74,497	65,995
Dividends payable	13,164	18,986
Mortgage obligations issued by securitization trusts, at fair value	1,762,914	2,973,936
Total liabilities	5,212,956	5,815,528
Commitments and contingencies (Note 18)
Stockholders’ equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued and outstanding as of December 31, 2019 and 2018	0	0
Additional paid-in capital	2,909,181	2,899,353
Accumulated deficit	(819,738)	(193,327)
Accumulated other comprehensive income (loss)	28,294	(399)
Total stockholders’ equity	2,119,022	2,706,905
Noncontrolling interests in investment entities	31,631	72,683
Noncontrolling interests in the Operating Partnership	50,697	65,614
Total equity	2,201,350	2,845,202
Total liabilities and equity	7,414,306	8,660,730
Primary beneficiary
Assets
Cash and cash equivalents	14,109	12,561
Restricted cash	25,646	18,464
Loans and preferred equity held for investment, net	1,016,781	167,219
Real estate, net	381,608	547,444
Receivables, net	26,044	17,811
Deferred leasing costs and intangible assets, net	36,323	38,681
Assets held for sale	102,397	0
Other assets	26,463	1,698
Mortgage loans held in securitization trusts, at fair value	1,872,970	3,116,978
Total assets	3,502,341	3,920,856
Liabilities
Securitization bonds payable, net	833,153	43,870
Mortgage and other notes payable, net	341,480	325,187
Credit facilities	23,882	0
Accrued and other liabilities	124,969	32,452
Intangible liabilities, net	20,230	11,993
Liabilities related to assets held for sale	251	0
Escrow deposits payable	10,485	9,603
Mortgage obligations issued by securitization trusts, at fair value	1,762,914	2,973,936
Total liabilities	3,117,364	3,397,041
Class A
Stockholders’ equity
Common stock	1,285	834
Class B-3
Stockholders’ equity
Common stock	$ 0	$ 444