CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 218,170	$ 306,320
Restricted cash	84,587	92,508
Loans and preferred equity held for investment	3,219,701	3,574,989
Current expected credit loss reserve	(106,728)	(106,247)
Loans and preferred equity held for investment, net	3,112,973	3,468,742
Real estate, net	771,383	732,468
Receivables, net	53,481	40,698
Deferred leasing costs and intangible assets, net	58,033	53,980
Other assets ($2,790 and $3,035 at fair value, respectively)	56,126	55,673
Total assets	4,354,753	4,750,389
Liabilities
Securitization bonds payable, net	992,583	1,167,600
Mortgage and other notes payable, net	644,891	656,468
Credit facilities	1,217,251	1,339,993
Accrued and other liabilities	79,296	87,633
Intangible liabilities, net	4,871	4,839
Escrow deposits payable	67,319	79,055
Dividends payable	26,000	25,777
Total liabilities	3,032,211	3,361,365
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively	0	0
Common stock	1,300	1,289
Additional paid-in capital	2,856,225	2,853,723
Accumulated deficit	(1,530,351)	(1,466,568)
Accumulated other comprehensive income (loss)	(5,745)	(676)
Total stockholders’ equity	1,321,429	1,387,768
Noncontrolling interests in investment entities	1,113	1,256
Total equity	1,322,542	1,389,024
Total liabilities and equity	4,354,753	4,750,389
Primary beneficiary
Assets
Cash and cash equivalents	4,474	5,163
Restricted cash	9,503	7,831
Loans and preferred equity held for investment, net	1,255,511	1,444,398
Real estate, net	168,459	167,821
Receivables, net	25,245	11,869
Deferred leasing costs and intangible assets, net	9,368	10,956
Other assets ($2,790 and $3,035 at fair value, respectively)	21,883	21,977
Total assets	1,494,443	1,670,015
Liabilities
Securitization bonds payable, net	992,583	1,167,600
Mortgage and other notes payable, net	172,187	173,960
Accrued and other liabilities	9,515	5,026
Intangible liabilities, net	4,149	4,839
Escrow deposits payable	571	2,366
Total liabilities	$ 1,179,005	$ 1,353,791