Secured Debt Arrangements, Net (Tables)

9 Months Ended

Sep. 30, 2019

Weighted Average Maturities and Interest Rates of Borrowings

At September 30, 2019 and December 31, 2018, our borrowings had the following secured debt arrangements, maturities and weighted-average interest rates ($ in thousands):



	September 30, 2019 ⁽²⁾						December 31, 2018 ⁽²⁾
	Maximum Amount of Borrowings		Borrowings Outstanding			Maturity ⁽¹⁾	Maximum Amount of Borrowings		Borrowings Outstanding			Maturity ⁽¹⁾
JPMorgan Facility (USD)	$	1,253,271	$	1,067,635		June 2024	$	1,333,503	$	680,141		June 2021
JPMorgan Facility (GBP)	46,729		46,729			June 2024	48,497		48,497			June 2021
DB Repurchase Facility (USD)	1,116,993		558,905			March 2021	904,181		419,823			March 2021
DB Repurchase Facility (GBP)	133,007		133,007			March 2021	150,819		150,819			March 2021
Goldman Facility	500,000		267,711			November 2021	300,000		210,072			November 2020
CS Facility - USD	174,279		174,279			March 2020	187,117		187,117			June 2019
CS Facility - GBP	124,707		124,707			March 2020	151,773		151,773			June 2019
HSBC Facility - GBP	36,621		36,621			December 2019	48,835		48,835			December 2019
HSBC Facility - EUR	149,724		149,724			January 2021	—		—			N/A
Sub-total	3,535,331		2,559,318				3,124,725		1,897,077
less: deferred financing costs	N/A		(18,031		)		N/A		(17,555		)
Total / Weighted-Average	$	3,535,331	$	2,541,287			$	3,124,725	$	1,879,522
Total / Weighted-Average	$	3,535,331	$	2,541,287			$	3,124,725	$	1,879,522

———————

(1) Maturity date assumes extensions at our option are exercised.

(2) Weighted-average rates as of September 30, 2019 and December 31, 2018 were USD L + 2.09% / GBP L + 2.31% / EUR L + 1.35% and USD L + 2.17% / GBP L + 2.28%, respectively.

Remaining Maturities of Borrowings

At September 30, 2019, our borrowings had the following remaining maturities ($ in thousands):



	Less than 1 year⁽¹⁾		1 to 3 years⁽¹⁾		3 to 5 years ⁽¹⁾		More than 5 years		Total
JPMorgan Facility	$	60,500	$	311,219	$	742,645	$	—	$	1,114,364
DB Repurchase Facility	102,896		589,016		—		—		691,912
Goldman Facility	—		267,711		—		—		267,711
CS Facility - USD	174,279		—		—		—		174,279
CS Facility - GBP	124,707		—		—		—		124,707
HSBC Facility - GBP	36,621		—		—		—		36,621
HSBC Facility - EUR	—		149,724		—		—		149,724
Total	$	499,003	$	1,317,670	$	742,645	$	—	$	2,559,318

———————

(1) Assumes underlying assets are financed through the fully extended maturity date of the facility.

Schedule of Outstanding, Maximum and Average Balances of Debt

The table below summarizes the outstanding balances at September 30, 2019, as well as the maximum and average month-end balances for the nine months ended September 30, 2019 for our borrowings under secured debt arrangements ($ in thousands).



	As of September 30, 2019				For the nine months ended September 30, 2019
	Balance		Amortized Cost of Collateral		Maximum Month-End Balance		Average Month-End Balance
JPMorgan Facility	$	1,114,364	$	1,809,170	$	1,150,317	$	875,895
DB Repurchase Facility	691,912		1,205,456		691,912		598,285
Goldman Facility	267,711		445,898		312,507		220,631
CS Facility - USD	174,279		241,989		188,037		180,792
CS Facility - GBP	124,707		178,612		150,811		139,991
HSBC Facility - GBP	36,621		52,593		50,784		44,007
HSBC Facility - EUR	149,724		185,208		152,155		150,914
Total	$	2,559,318	$	4,118,926