Transactions with Related Parties	9 Months Ended
Sep. 30, 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 upon such date and each anniversary thereafter unless earlier terminated. As of September 30, 2018 and December 31, 2017, our consolidated balance sheet included $18.4 million and $14.3 million of accrued management and incentive fees payable to our Manager, respectively. During the three and nine months ended September 30, 2018, we paid management and incentive fees of $22.4 million and $52.2 million, respectively, to our Manager, compared to $14.4 million and $40.1 million during the same periods of 2017. In addition, during the three and nine months ended September 30, 2018, we reimbursed our Manager for expenses incurred on our behalf of $167,000 and $572,000, respectively, compared to $59,000 and $325,000 during the same periods of 2017. As of September 30, 2018, our Manager held 675,333 shares of unvested restricted class A common stock, which had an aggregate grant date fair value of $21.2 million, and vest in installments over three years from the date of issuance. During the three and nine months ended September 30, 2018, we recorded non-cash expenses related to shares held by our Manager of $3.2 million and $9.6 million, respectively, compared to $2.9 million and $8.7 million during the same periods of 2017. We did not issue any shares of restricted class A common stock to our Manager during the nine months ended September 30, 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 nine months ended September 30, 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. In the second quarter of 2018, we acquired from an unaffiliated third-party a 50% interest in a $1.0 billion senior loan to a borrower that is partially owned by a Blackstone-advised investment vehicle. In the third quarter of 2018, we contributed this loan to the 2018 Single Asset Securitization and invested in the related subordinate risk retention position. We will forgo all non-economic rights under the loan, including voting rights, so long as Blackstone-advised investment vehicles own the borrower above a certain threshold. Refer to Note 15 for further details on this transaction. During the nine months ended September 30, 2018 and 2017, we originated three loans and five loans, respectively, 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. During the three and nine months ended September 30, 2018, we incurred $90,000 and $384,000, respectively, of expenses for various administrative, compliance, and capital market data services to third-party service providers that are affiliates of our Manager, compared to $87,000 and $254,000 during the same periods of 2017. In July 2018, in a fully subscribed offering totaling $1.0 billion, certain Blackstone-advised investment vehicles purchased, in the aggregate, $116.1 million of securitized debt obligations issued by the 2018 Single Asset Securitization. In June 2017, in a fully subscribed offering totaling $474.6 million, certain Blackstone-advised investment vehicles purchased, in the aggregate, $72.9 million of securitized debt obligations issued by the 2017 Single Asset Securitization. These investments by the Blackstone-advised investment vehicles represented minority participations in any individual tranche and were purchased by the Blackstone-advised investment vehicles from third-party investment banks on market terms negotiated by the majority third-party investors.

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 upon such date and each anniversary thereafter unless earlier terminated.

As of September 30, 2018 and December 31, 2017, our consolidated balance sheet included $18.4 million and $14.3 million of accrued management and incentive fees payable to our Manager, respectively. During the three and nine months ended September 30, 2018, we paid management and incentive fees of $22.4 million and $52.2 million, respectively, to our Manager, compared to $14.4 million and $40.1 million during the same periods of 2017. In addition, during the three and nine months ended September 30, 2018, we reimbursed our Manager for expenses incurred on our behalf of $167,000 and $572,000, respectively, compared to $59,000 and $325,000 during the same periods of 2017.

As of September 30, 2018, our Manager held 675,333 shares of unvested restricted class A common stock, which had an aggregate grant date fair value of $21.2 million, and vest in installments over three years from the date of issuance. During the three and nine months ended September 30, 2018, we recorded non-cash expenses related to shares held by our Manager of $3.2 million and $9.6 million, respectively, compared to $2.9 million and $8.7 million during the same periods of 2017. We did not issue any shares of restricted class A common stock to our Manager during the nine months ended September 30, 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 nine months ended September 30, 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.

In the second quarter of 2018, we acquired from an unaffiliated third-party a 50% interest in a $1.0 billion senior loan to a borrower that is partially owned by a Blackstone-advised investment vehicle. In the third quarter of 2018, we contributed this loan to the 2018 Single Asset Securitization and invested in the related subordinate risk retention position. We will forgo all non-economic rights under the loan, including voting rights, so long as Blackstone-advised investment vehicles own the borrower above a certain threshold. Refer to Note 15 for further details on this transaction.

During the nine months ended September 30, 2018 and 2017, we originated three loans and five loans, respectively, 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.

During the three and nine months ended September 30, 2018, we incurred $90,000 and $384,000, respectively, of expenses for various administrative, compliance, and capital market data services to third-party service providers that are affiliates of our Manager, compared to $87,000 and $254,000 during the same periods of 2017.

In July 2018, in a fully subscribed offering totaling $1.0 billion, certain Blackstone-advised investment vehicles purchased, in the aggregate, $116.1 million of securitized debt obligations issued by the 2018 Single Asset Securitization. In June 2017, in a fully subscribed offering totaling $474.6 million, certain Blackstone-advised investment vehicles purchased, in the aggregate, $72.9 million of securitized debt obligations issued by the 2017 Single Asset Securitization. These investments by the Blackstone-advised investment vehicles represented minority participations in any individual tranche and were purchased by the Blackstone-advised investment vehicles from third-party investment banks on market terms negotiated by the majority third-party investors.