Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 18,737	$ 25,070
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of premiums	9,900	2,516
Accretion of discounts	(3,030)	(1,668)
Depreciation and amortization of real estate investment	944	0
Amortization of deferred financing costs	12	0
Loan loss provision	151	124
Net change in unrealized (gain) loss on investments held at fair value	8,545	(16,476)
Net realized losses	0	65
Vesting of stock-based compensation	673	391
Payment in kind income	(168)	0
Changes in operating assets and liabilities:
Accrued interest and dividends receivable	(1,912)	(568)
Accounts receivable and other assets	(1,317)	(2,639)
Accrued interest payable	3,711	480
Accounts payable, accrued expenses and other liabilities	2,265	1,781
Net cash provided by operating activities	38,511	9,076
Cash flows from investing activities
Proceeds from payments received on mortgage loans	124,633	834
Originations of bridge loan	(13,433)	0
Originations of loans, held-for-investment, net	(99,708)	(25,876)
Purchases of CMBS structured pass-through certificates, at fair value	(4,543)	0
Additions to real estate investments	(21)	0
Net cash provided by investing activities	211,105	71,409
Cash flows from financing activities
Principal repayments on borrowings under secured financing agreements	(86,410)	(766)
Borrowings under master repurchase agreements	25,141	5,737
Principal repayments on borrowings under master repurchase agreements	(14,474)	(5,034)
Proceeds received from unsecured notes offering, net	34,173	0
Proceeds from the issuance of common stock	113,535	0
Redemption of redeemable noncontrolling interests in the OP	(113,535)	0
Payments for taxes related to net share settlement of stock-based compensation	(140)	0
Dividends paid to common stockholders	(7,197)	(2,386)
Dividends paid to preferred stockholders	(874)	(874)
Distributions to redeemable noncontrolling interests in the OP	(3,569)	(5,912)
Net cash used in financing activities	(247,425)	(98,469)
Net increase (decrease) in cash, cash equivalents and restricted cash	2,191	(17,984)
Cash, cash equivalents and restricted cash, beginning of period	33,232	33,471
Cash, cash equivalents and restricted cash, end of period	35,423	15,487
Supplemental Disclosure of Cash Flow Information
Interest paid	4,910	7,289
Supplemental Disclosure of Noncash Investing and Financing Activities
Increase in dividends payable upon vesting of restricted stock units	324	248
Increase in dividends payable to preferred stockholders	0	874
Public Offering [Member]
Cash flows from financing activities
Proceeds from the issuance of common stock	1,812	0
Variable Interest Entity, Primary Beneficiary [Member]
Cash flows from investing activities
Proceeds from payments received on mortgage loans	211,277	96,451
Purchases of CMBS structured pass-through certificates, at fair value	(7,100)	0
Cash flows from financing activities
Distributions to bondholders of variable interest entities	$ (195,887)	$ (89,234)