Depreciation and amortization of real estate investments
1,728
1,426
631
620
Amortization of deferred financing costs
-4
-
0
137
Provision for (reversal of) credit losses
773
-2,983
14,380
15,680
Net change in unrealized (gain) loss on investments held at fair value
-1,268
746
19,348
48,344
Equity in (income) losses of unconsolidated equity method ventures
-705
54
54
12
Net realized (gain) loss
396
-1,102
-1,444
3,266
Stock-based compensation expense
1,751
1,405
1,514
1,504
Payment in kind income
15,931
25,701
22,743
3,021
Loss on extinguishment of debt
-
-
1,839
-2,125
Fair value adjustment for preferred stock
-4,716
-
-
-
Accrued interest and dividends receivable
3,291
-6,704
1,434
11,343
Accounts receivable and other assets
1,174
-219
963
-1,133
Accrued interest payable
-3,614
3,176
-1,532
3,820
Accounts payable, accrued expenses and other liabilities
-1,416
182
826
-1,495
Net cash provided by operating activities
-6,040
9,400
-4,536
8,095
Proceeds from sale of loans held-for-investment-Variable Interest Entity Primary Beneficiary
44,575
103,535
70,004
139,799
Proceeds from sale of loans held-for-investment-Consolidated Entity Excluding Variable Interest Entities VIE
73,896
42,814
1,163
78,251
Originations of loans, held-for-investment, net-Variable Interest Entity Primary Beneficiary
-
-
-
-25,182
Purchases of debt securities, at fair value-CMBSStructured Pass Through Certificates-Consolidated Entity Excluding Variable Interest Entities VIE
-
-
-
0
Purchases of cmbs structured pass through certificates, at fair value
-
-
11,590
-
Originations of loans, held-for-investment, net-Consolidated Entity Excluding Variable Interest Entities VIE
-
-
-
67,072
Originations of mortgage loans, held-for-investment, net
95,837
61,169
97,753
-
Purchases of cmbs securitizations held in variable interest entities, at fair value-CMBSStructured Pass Through Certificates-Consolidated Entity Excluding Variable Interest Entities VIE
-
-
3,320
0
Purchases of preferred stock and stock warrants
37
-
3,161
42,499
Sales of cmbs securitizations held in variable interest entities, at fair value
-
-
-
0
Purchases of equity method investments
2,000
-
534
500
Purchases of debt securities, at fair value-Mortgage Backed Securities-Variable Interest Entity Primary Beneficiary
-
-
-
0
Increase in cash in connection with vie consolidation
2,696
-
796
-
Sale of mortgage backed securities, at fair value
-
-
-
0
Proceeds from payments received on sale of equity method investments
2,312
-
0
392
Additions to real estate investments
1,449
486
787
-174
Net proceeds from dispositions of real estate investments
-
-
0
56,348
Net cash provided by investing activities
24,156
84,694
41,884
190,075
Borrowings under secured financing agreements
357,007
-
0
-23,359
Proceeds from secured borrowings of cmbs securitizations held in vies, at fair value
0
19,769
-
-
Principal repayments on borrowings under secured financing agreements
40,473
12,545
-1,209
35,433
Distributions to bondholders of variable interest entities-Variable Interest Entity Primary Beneficiary
28,908
85,915
67,856
137,281
Principal repayment on unsecured notes
180,000
-
-
-
Borrowings under master repurchase agreements
7,657
4,386
4,926
2,429
Principal repayments on borrowings under master repurchase agreements
20,081
22,915
4,493
5,771
Proceeds received from unsecured promissory note
-
-
42,525
0
Principal repayment on unsecured promissory note
-
-
36,500
0
Borrowings under bridge facility
-
-
-
0
Proceeds from the issuance of preferred stock through public offering, net of offering costs-Series BPreferred Stock
-
-
210,738
-
Distributions from the redemptions of series b preferred stock through public offering, net of redemption fees
1,916
-
-
-
Bridge facility repayments
-
-
-
0
Proceeds from the issuance of preferred stock through public offering, net of offering costs-Series CPreferred Stock
24,879
16,381
1,868
-
Proceeds from the issuance of series b preferred stock through public offering, net of offering costs
-
-
-
59,957
Proceeds received from mortgages payable
-
-
0
-
Principal repayments on mortgages payable
-
-
0
31,961
Payments for taxes related to net share settlement of stock-based compensation
1,307
878
0
0
Dividends paid to common stockholders
9,424
12,323
9,362
8,360
Dividends paid to preferred stockholders-Series APreferred Stock
874
874
874
874
Dividends paid to preferred stockholders-Series BPreferred Stock
9,023
6,044
7,698
7,174
Dividends paid to preferred stockholders-Series CPreferred Stock
577
150
-
-
Distributions to redeemable noncontrolling interests in the op
2,093
2,093
2,519
2,520
Net cash used in financing activities
94,867
-103,201
-24,555
-190,347
Net increase (decrease) in cash, cash equivalents, and restricted cash
112,983
-9,107
12,793
7,823
Cash, cash equivalents and restricted cash, beginning of period
25,247
34,354
21,561
7,053
Cash, cash equivalents and restricted cash, end of period
138,230
25,247
34,354
21,561
Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.
Time Plot
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