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Combined Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 86,659 $ 48,643
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 19,677 14,445
Unrealized (gain) loss on derivative instruments (5,351) 16,785
Unrealized (gain) loss on Agency interest-only securities 1,369 (1,748)
Provision for loan losses 300 300
Amortization of equity based compensation 7,214 6,553
Amortization of deferred financing costs included in interest expense 2,899 2,625
Amortization of premium on mortgage loan financing (431) (306)
Amortization of above- and below-market lease intangibles 803 345
Accretion/amortization of discount, premium and other fees on loans (5,608) (3,613)
Accretion/amortization of discount, premium and other fees on securities 47,808 40,820
Realized gain on sale of mortgage loan receivables held for sale (44,551) (86,721)
Realized gain on real estate securities (23,167) (7,185)
Realized gain on sale of real estate, net (14,940) (15,753)
Origination of mortgage loan receivables held for sale (1,132,259) (1,291,510)
Repayment of mortgage loan receivables held for sale 542 782
Proceeds from sales of mortgage loan receivables held for sale 1,086,513 1,727,178
Accrued interest receivable 4,090 (3,477)
Earnings on investment in unconsolidated joint ventures (605) (1,336)
Distributions from operations of investment in unconsolidated joint ventures 282 1,604
Deferred tax asset (755) 0
Changes in operating assets and liabilities:    
Other assets (1,912) (27,884)
Accrued expenses and other liabilities (28,513) 11,727
Net cash provided by (used in) operating activities 64 432,274
Cash flows from investing activities:    
Reduction (addition) of cash collateral held by broker for derivatives 5,442 (8,004)
Purchase of derivative instruments 0 (7)
Purchases of real estate securities (353,828) (510,746)
Repayment of real estate securities 114,848 122,764
Proceeds from sales of real estate securities 726,986 196,481
Purchase of FHLB stock 0 (7,790)
Sale of FHLB stock 2,409 0
Origination and purchases of mortgage loan receivables held for investment (653,662) (575,327)
Repayment of mortgage loan receivables held for investment 439,216 78,642
Reduction (addition) of cash collateral held by broker (7,459) (1,471)
Addition of deposits received for loan originations 1,809 2,418
Title deposits included in other assets (10,604) 1,660
Distributions of return of capital from investment in unconsolidated joint ventures 3,372 3,157
Purchases of real estate (140,234) 0
Capital improvements of real estate (1,390) (623)
Proceeds from sale of real estate 63,778 64,902
Net cash provided by (used in) investing activities 190,683 (633,944)
Cash flows from financing activities:    
Deferred financing costs (1,308) (2,282)
Proceeds from borrowings under debt obligations 8,807,532 7,433,122
Repayment of borrowings under debt obligations (8,902,700) (7,419,456)
Cash dividends paid to Class A common shareholders (25,237) 0
Partners’ capital distributions 0 (369)
Capital distributed to noncontrolling interests in operating partnership (38,423) (40,442)
Capital contributed by noncontrolling interests in consolidated joint ventures 74 0
Capital distributed to noncontrolling interests in consolidated joint ventures (232) (1,218)
Payment of liability assumed in exchange for shares for the minimum withholding taxes on vesting restricted stock (3,794) 0
Issuance of common stock 0 259,037
Common stock offering costs 0 (20,498)
Net cash provided by (used in) financing activities (164,088) 207,894
Net increase (decrease) in cash 26,659 6,224
Cash and cash equivalents at beginning of period 76,218 78,742
Cash and cash equivalents at end of period 102,877 84,966
Supplemental information:    
Cash paid for interest 52,390 29,266
Cash paid for income taxes 19,688 11,417
Supplemental disclosure of non-cash investing activities:    
Securities purchased, not settled (17,898) (16,866)
Securities sold, not settled 0 33,434
Supplemental disclosure of non-cash financing activities:    
Exchange of capital for common stock 0 483,568
Exchange of predecessor LP Units for common stock 0 697,097
Exchange of noncontrolling interest for common stock 15,688 0
Change in deferred tax asset related to change in tax receivable agreement $ 561 $ 0