CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 437,951	$ 69,619
Restricted cash		84,011	126,065
Loans and preferred equity held for investment, net	[1]	2,242,574	2,576,332
Real estate securities, available for sale, at fair value		60,010	252,824
Real estate, net		823,531	1,484,796
Investments in unconsolidated ventures		417,307	595,305
Receivables, net		46,325	46,456
Deferred leasing costs and intangible assets, net		79,780	112,762
Assets held for sale		760,290	189,470
Other assets		58,535	87,707
Mortgage loans held in securitization trusts, at fair value		1,839,953	1,872,970
Total assets		6,850,267	7,414,306
Liabilities
Securitization bonds payable, net		834,088	833,153
Mortgage and other notes payable, net		1,174,146	1,256,112
Credit facilities		900,173	1,099,233
Due to related party (Note 10)		9,639	11,016
Accrued and other liabilities		101,945	140,424
Intangible liabilities, net		8,378	22,149
Liabilities related to assets held for sale		12,131	294
Escrow deposits payable		50,605	74,497
Dividends payable		0	13,164
Mortgage obligations issued by securitization trusts, at fair value		1,758,325	1,762,914
Total liabilities		4,849,430	5,212,956
Commitments and contingencies (Note 16)
Stockholders’ equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively		0	0
Common stock, $0.01 par value per share; Class A, 950,000,000 shares authorized, 128,583,198 and 128,538,703 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively		1,286	1,285
Additional paid-in capital		2,840,134	2,909,181
Accumulated deficit		(1,186,754)	(819,738)
Accumulated other comprehensive income		25,241	28,294
Total stockholders’ equity		1,679,907	2,119,022
Noncontrolling interests in investment entities		281,041	31,631
Noncontrolling interests in the Operating Partnership		39,889	50,697
Total equity		2,000,837	2,201,350
Total liabilities and equity		6,850,267	7,414,306
Primary beneficiary
Assets
Cash and cash equivalents		15,688	14,109
Restricted cash		20,055	25,646
Loans and preferred equity held for investment, net		996,148	1,016,781
Real estate, net		417,227	381,608
Investments in unconsolidated ventures		292,298	0
Receivables, net		27,224	26,044
Deferred leasing costs and intangible assets, net		56,461	36,323
Assets held for sale		188,477	102,397
Other assets		24,537	26,463
Mortgage loans held in securitization trusts, at fair value		1,839,953	1,872,970
Total assets		3,878,068	3,502,341
Liabilities
Securitization bonds payable, net		834,088	833,153
Mortgage and other notes payable, net		501,590	341,480
Credit facilities		7,106	23,882
Accrued and other liabilities		94,771	124,969
Intangible liabilities, net		8,378	20,230
Liabilities related to assets held for sale		10,842	251
Escrow deposits payable		4,719	10,485
Mortgage obligations issued by securitization trusts, at fair value		1,758,325	1,762,914
Total liabilities		$ 3,219,819	$ 3,117,364

[1] Net of $52.5 million and $272.6 million of allowance for loan losses at June 30, 2020 and December 31, 2019, respectively. See Note 3, “Loans and Preferred Equity Held for Investments, net and Loans Held for Sale” for further details.