Transactions with Related Parties	3 Months Ended
Mar. 31, 2018
Related Party Transactions [Abstract]
Transactions with Related Parties	16. TRANSACTIONS WITH RELATED PARTIES We are managed by our Manager pursuant to the Management Agreement, the current term of which expires on December 19, 2018, and will be automatically renewed for a one-year term each anniversary thereafter unless earlier terminated. As of March 31, 2018 and December 31, 2017, our consolidated balance sheet included $15.5 million and $14.3 million of accrued management and incentive fees payable to our Manager, respectively. During the three months ended March 31, 2018, we paid $14.3 million of management and incentive fees to our Manager, compared to $12.8 million during the same period of 2017. In addition, during the three months ended March 31, 2018, we reimbursed our Manager for $190,000 of expenses incurred on our behalf compared to $93,000 during the same period of 2017. As of March 31, 2018, our Manager held 804,483 shares of unvested restricted class A common stock, which had an aggregate grant date fair value of $25.0 million, and vest in installments over three years from the date of issuance. During the three months ended March 31, 2018 and 2017, we recorded non-cash expenses related to shares held by our Manager of $3.2 million and $2.9 million, respectively. We did not issue any shares of restricted class A common stock to our Manager during the three months ended March 31, 2018 or 2017, respectively. Refer to Note 13 for further details on our restricted class A common stock. An affiliate of our Manager is the special servicer of the CLO. This affiliate did not earn any special servicing fees related to the CLO during the three months ended March 31, 2018 or 2017. In March of 2018, we originated €1.0 billion of a total €7.3 billion senior term facility, or the Senior Term Facility, for the acquisition of a portfolio of Spanish real estate assets and a Spanish real estate management and loan servicing company by a joint venture between Banco Santander S.A and certain Blackstone-advised investment vehicles. These investment vehicles own 51% of the joint venture, and we will forgo all non-economic rights under the Senior Term Facility, including voting rights, so long as Blackstone-advised investment vehicles control the joint venture. The Senior Term Facility was negotiated by the joint venture with third-party investment banks without our involvement, and our 14% interest in the Senior Term Facility was made on such market terms. In the first quarter of 2018, we originated a $330.0 million senior loan, the proceeds of which were used by the borrower to repay an existing loan owned by a Blackstone-advised investment vehicle. During the three months ended March 31, 2017, we originated two loans whereby each respective borrower engaged an affiliate of our Manager to act as title insurance agent in connection with each transaction. We did not incur any expenses or receive any revenues as a result of these transactions. We did not have any similar transactions during the three months ended March 31, 2018. During the three months ended March 31, 2018 and 2017, we incurred $141,000 and $88,000, respectively, of expenses for various administrative, compliance, and capital market data services to third-party service providers that are affiliates of our Manager.

16. TRANSACTIONS WITH RELATED PARTIES

We are managed by our Manager pursuant to the Management Agreement, the current term of which expires on December 19, 2018, and will be automatically renewed for a one-year term each anniversary thereafter unless earlier terminated.

As of March 31, 2018 and December 31, 2017, our consolidated balance sheet included $15.5 million and $14.3 million of accrued management and incentive fees payable to our Manager, respectively. During the three months ended March 31, 2018, we paid $14.3 million of management and incentive fees to our Manager, compared to $12.8 million during the same period of 2017. In addition, during the three months ended March 31, 2018, we reimbursed our Manager for $190,000 of expenses incurred on our behalf compared to $93,000 during the same period of 2017.

As of March 31, 2018, our Manager held 804,483 shares of unvested restricted class A common stock, which had an aggregate grant date fair value of $25.0 million, and vest in installments over three years from the date of issuance. During the three months ended March 31, 2018 and 2017, we recorded non-cash expenses related to shares held by our Manager of $3.2 million and $2.9 million, respectively. We did not issue any shares of restricted class A common stock to our Manager during the three months ended March 31, 2018 or 2017, respectively. Refer to Note 13 for further details on our restricted class A common stock.

An affiliate of our Manager is the special servicer of the CLO. This affiliate did not earn any special servicing fees related to the CLO during the three months ended March 31, 2018 or 2017.

In March of 2018, we originated €1.0 billion of a total €7.3 billion senior term facility, or the Senior Term Facility, for the acquisition of a portfolio of Spanish real estate assets and a Spanish real estate management and loan servicing company by a joint venture between Banco Santander S.A and certain Blackstone-advised investment vehicles. These investment vehicles own 51% of the joint venture, and we will forgo all non-economic rights under the Senior Term Facility, including voting rights, so long as Blackstone-advised investment vehicles control the joint venture. The Senior Term Facility was negotiated by the joint venture with third-party investment banks without our involvement, and our 14% interest in the Senior Term Facility was made on such market terms.

In the first quarter of 2018, we originated a $330.0 million senior loan, the proceeds of which were used by the borrower to repay an existing loan owned by a Blackstone-advised investment vehicle.

During the three months ended March 31, 2017, we originated two loans whereby each respective borrower engaged an affiliate of our Manager to act as title insurance agent in connection with each transaction. We did not incur any expenses or receive any revenues as a result of these transactions. We did not have any similar transactions during the three months ended March 31, 2018.

During the three months ended March 31, 2018 and 2017, we incurred $141,000 and $88,000, respectively, of expenses for various administrative, compliance, and capital market data services to third-party service providers that are affiliates of our Manager.