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Secured Term Loans, Net (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Line Items]  
Schedule of Debt
The following table details our secured credit facilities as of June 30, 2020 ($ in thousands):    
  
June 30, 2020
 
 
Credit Facility Borrowings
   
Collateral
 
Lender
 
Potential
(1)
 
  
Outstanding
 
  
Available
(1)
 
  
Assets
(2)
  
Deutsche Bank
  $
2,011,496
    $
2,011,496
    $
—  
     $
2,673,795
 
Barclays
   
1,637,749
     
1,607,267
     
30,482
     
2,110,436
 
Wells Fargo
   
1,516,822
     
1,497,542
     
19,280
     
1,960,089
 
Citibank
   
916,680
     
899,627
     
17,053
     
1,189,282
 
Goldman Sachs
   
582,860
     
582,854
     
6
     
781,016
 
Bank of America
   
540,376
     
540,376
     
—  
      
750,722
 
Morgan Stanley
   
492,293
     
492,293
     
—  
      
786,931
 
MetLife
   
444,502
     
444,502
     
—  
      
556,015
 
JP Morgan
   
415,535
     
388,182
     
27,353
     
558,291
 
Santander
   
244,607
     
244,607
     
—  
      
306,082
 
Société Générale
   
236,698
     
236,698
     
—  
      
301,932
 
Goldman Sachs - Multi. JV
(3)
    
234,464
     
234,464
     
—  
      
306,555
 
US Bank - Multi. JV
(3)
    
220,139
     
217,281
     
2,858
     
275,174
 
Bank of America - Multi. JV
(3)
    
33,920
     
33,920
     
—  
      
42,400
 
                                 
                                
   $
9,528,141
    $
9,431,109
    $
97,032
    $
12,598,720
 
                                 
                        
  
(1) 
  
Potential borrowings represents the total amount we could draw under each facility based on collateral already approved and pledged. When undrawn, these amounts are immediately available to us at our sole discretion under the terms of each credit facility.
(2)
 
Represents the principal balance of the collateral assets.
(3)
 
These facilities finance the loan investments of our consolidated Multifamily Joint Venture. Refer to Note 2 for additional discussion of our Multifamily Joint Venture.
The following table details our secured credit facilities as of December 31, 2019 ($ in thousands):
 
December 31, 2019
 
 
Credit Facility Borrowings
   
Collateral
 
Lender
 
Potential
(1)
 
  
Outstanding
 
  
Available
(1)
 
  
Assets
(2)
 
Wells Fargo
  $
2,056,769
    $
2,018,057
    $
38,712
    $
2,621,806
 
Deutsche Bank
   
2,037,795
     
1,971,860
     
65,935
     
2,573,447
 
Barclays
   
1,629,551
     
1,442,083
     
187,468
     
2,044,654
 
Citibank
   
1,159,888
     
1,109,837
     
50,051
     
1,473,745
 
Bank of America
   
603,660
     
513,660
     
90,000
     
775,678
 
Morgan Stanley
   
524,162
     
468,048
     
56,114
     
706,080
 
Goldman Sachs
   
474,338
     
450,000
     
24,338
     
632,013
 
MetLife
   
417,677
     
417,677
     
—  
      
536,553
 
Société Générale
   
333,473
     
333,473
     
—  
      
437,130
 
US Bank - Multi. JV
(3)
    
279,838
     
279,552
     
286
     
350,034
 
JP Morgan
   
303,288
     
259,062
     
44,226
     
386,545
 
Santander
   
239,332
     
239,332
     
—  
      
299,597
 
Goldman Sachs - Multi. JV
(3)
    
203,846
     
203,846
     
—  
      
261,461
 
Bank of America - Multi. JV
(3)
    
46,572
     
46,572
     
—  
      
58,957
 
                                 
                                
   $
10,310,189
    $
9,753,059
    $
557,130
    $
13,157,700
 
                                 
                        
  
(1)  
  
Potential borrowings represents the total amount we could draw under each facility based on collateral already approved and pledged. When undrawn, these amounts are immediately available to us at our sole discretion under the terms of each credit facility.
(2)
 
Represents the principal balance of the collateral assets.
(3)
 
These facilities finance the loan investments of our consolidated Multifamily Joint Venture. Refer to Note 2 for additional discussion of our Multifamily Joint Venture.
Schedule of Net Book Value of Our Secured Term Loans on Our Consolidated Balance Sheets
The following table details the net book value of our Convertible Notes on our consolidated balance sheets ($ in thousands):    
  
June 30, 2020
 
  
December 31, 2019
 
Face value
  $
   622,500
    $
   622,500
 
Unamortized discount
   
(7,277
 )    
(8,801
 )
Deferred financing costs
   
(513
 )    
(628
 )
                 
Net book value
  $
614,710
    $
613,071
 
                 
Secured Debt [Member]  
Debt Disclosure [Line Items]  
Schedule of Debt As of June 30, 2020, the following senior secured term loan facilities, or Secured Term Loans, were outstanding ($ in thousands):
Term Loans
 
Face Value
 
  
Interest Rate
(1)
 
  
All-in
 Cost
(1)(2)
 
  
Maturity
 
2019 Term Loan
  $
743,134
     
L+2.25
 %    
L+2.52
 %    
April 23, 2026
 
2020 Term Loan
 
$
325,000
     
L+4.75
 %    
L+5.60
 %    
April 23, 2026
 
                        
  
(1)
  
The 2020 Term Loan includes a LIBOR floor of 1.00%.
(2)
 
Includes issue discount and transaction expenses that are amortized through interest expense over the life of the Secured Term Loans.
Secured Term Loan [Member]  
Debt Disclosure [Line Items]  
Schedule of Net Book Value of Our Secured Term Loans on Our Consolidated Balance Sheets
The following table details the net book value of our Secured Term Loans on our consolidated balance sheets ($ in thousands):    
  
June 30, 2020
 
  
December 31, 2019
 
Face value
  $
1,068,134
    $
746,878
 
Unamortized discount
   
(10,739
 )    
(1,456
 )
Deferred financing costs
   
(12,232
 )    
(9,280
 )
 
                 
Net book value
  $
 
1,045,163
    $
736,142