Subsequent Events |
9 Months Ended |
---|---|
Sep. 30, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Investment activity. Subsequent to the end of the quarter, we committed capital of $387.0 million, $273.2 million of which was funded at closing, of first mortgage loans. In addition, we funded approximately $23.9 million for loans closed prior to the quarter. Loan Repayments. Subsequent to the end of the quarter, we received approximately $180.9 million from loan repayments. On October 5, 2018, we completed a public offering of $230.0 million aggregate principal amount of 5.375% Convertible Senior Notes due 2023 (the "2023 Notes"), which included $30.0 million due to underwriters’ exercise in full of their option to purchase additional 2023 Notes. The public offering generated net proceeds of approximately $223.7 million, after deducting the underwriting discount and offering expenses. The 2023 Notes bear interest at a rate of 5.375% per annum. The conversion rate is initially equal to 48.7187 shares of common stock per $1,000 principal amount of notes, which is equivalent to a conversion price of approximately $20.53 per share of common stock, representing an approximate 10% conversion premium to the closing price of our common stock of $18.66 per share on October 2, 2018. |