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SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Schedule of Company's performance evaluation by segment The Company evaluates performance based on the following financial measures for each segment ($ in thousands):
 
Loans
 
Securities
 
Real
Estate(1)
 
Corporate/Other(2)
 
Company
Total
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2016
 

 
 

 
 

 
 

 
 

Interest income
$
161,315

 
$
74,987

 
$
10

 
$
60

 
$
236,372

Interest expense
(25,531
)
 
(9,740
)
 
(25,333
)
 
(60,223
)
 
(120,827
)
Net interest income (expense)
135,784

 
65,247

 
(25,323
)
 
(60,163
)
 
115,545

Provision for loan losses
(300
)
 
—

 
—

 
—

 
(300
)
Net interest income (expense) after provision for loan losses
135,484

 
65,247

 
(25,323
)
 
(60,163
)
 
115,245

 
 
 
 
 
 
 
 
 
 
Operating lease income
—

 
—

 
77,277

 
—

 
77,277

Tenant recoveries
—

 
—

 
5,958

 
—

 
5,958

Sale of loans, net
26,009

 
—

 
—

 
—

 
26,009

Realized gain on securities
—

 
7,724

 
—

 
—

 
7,724

Unrealized gain (loss) on Agency interest-only securities
—

 
(56
)
 
—

 
—

 
(56
)
Realized gain (loss) on sale of real estate, net
—

 
—

 
20,636

 
—

 
20,636

Fee and other income
7,547

 
—

 
7,253

 
6,565

 
21,365

Net result from derivative transactions
8,371

 
(9,780
)
 
—

 
—

 
(1,409
)
Earnings from investment in unconsolidated joint ventures
—

 
—

 
(466
)
 
892

 
426

Gain (loss) on extinguishment of debt
—

 
—

 
—

 
5,382

 
5,382

Total other income (expense)
41,927

 
(2,112
)
 
110,658

 
12,839

 
163,312

 
 
 
 
 
 
 
 
 
 
Salaries and employee benefits
(11,000
)
 
—

 
—

 
(53,270
)
 
(64,270
)
Operating expenses
—

 
—

 
—

 
(20,552
)
 
(20,552
)
Real estate operating expenses
—

 
—

 
(29,953
)
 
—

 
(29,953
)
Real estate acquisition costs
—

 
—

 
(592
)
 
—

 
(592
)
Fee expense
(2,343
)
 
(166
)
 
(618
)
 
(576
)
 
(3,703
)
Depreciation and amortization
—

 
—

 
(39,354
)
 
(93
)
 
(39,447
)
Total costs and expenses
(13,343
)
 
(166
)
 
(70,517
)
 
(74,491
)
 
(158,517
)
 
 
 
 
 
 
 
 
 
 
Tax (expense) benefit
—

 
—

 
—

 
(6,320
)
 
(6,320
)
Segment profit (loss)
$
164,068

 
$
62,969

 
$
14,818

 
$
(128,135
)
 
$
113,720

 
 
 
 
 
 
 
 
 
 
Total assets as of December 31, 2016
$
2,353,977

 
$
2,100,947

 
$
856,363

 
$
267,050

 
$
5,578,337

 
Loans
 
Securities
 
Real
Estate(1)
 
Corporate/Other(2)
 
Company
Total
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2015
 

 
 

 
 

 
 

 
 

Interest income
$
165,403

 
$
76,083

 
$
—

 
$
53

 
$
241,539

Interest expense
(24,039
)
 
(7,256
)
 
(23,873
)
 
(58,135
)
 
(113,303
)
Net interest income (expense)
141,364

 
68,827

 
(23,873
)
 
(58,082
)
 
128,236

Provision for loan losses
(600
)
 
—

 
—

 
—

 
(600
)
Net interest income (expense) after provision for loan losses
140,764

 
68,827

 
(23,873
)
 
(58,082
)
 
127,636

 
 
 
 
 
 
 
 
 
 
Operating lease income
—

 
—

 
80,465

 
—

 
80,465

Tenant recoveries
—

 
—

 
9,907

 
—

 
9,907

Sale of loans, net
71,066

 
—

 
—

 
—

 
71,066

Realized gain on securities
—

 
24,007

 
—

 
—

 
24,007

Unrealized gain (loss) on Agency interest-only securities
—

 
(1,249
)
 
—

 
—

 
(1,249
)
Realized gain on sale of real estate, net
2,346

 
—

 
38,040

 
—

 
40,386

Fee and other income
5,999

 
230

 
5,989

 
2,987

 
15,205

Net result from derivative transactions
(12,609
)
 
(26,328
)
 
—

 
—

 
(38,937
)
Earnings from investment in unconsolidated joint ventures
—

 
—

 
255

 
116

 
371

Total other income
66,802

 
(3,340
)
 
134,656

 
3,103

 
201,221

 
 
 
 
 
 
 
 
 
 
Salaries and employee benefits
(16,531
)
 
—

 
—

 
(45,081
)
 
(61,612
)
Operating expenses
381

 
—

 
—

 
(25,484
)
 
(25,103
)
Real estate operating expenses
—

 
—

 
(35,886
)
 
—

 
(35,886
)
Real estate acquisition costs
—

 
—

 
(1,982
)
 
(1
)
 
(1,983
)
Fee expense
(1,693
)
 
(40
)
 
(470
)
 
(2,318
)
 
(4,521
)
Depreciation and amortization
—

 
—

 
(38,953
)
 
(108
)
 
(39,061
)
Total costs and expenses
(17,843
)
 
(40
)
 
(77,291
)
 
(72,992
)
 
(168,166
)
 
 
 
 
 
 
 
 
 
 
Tax (expense) benefit
—

 
—

 
—

 
(14,557
)
 
(14,557
)
Segment profit (loss)
$
189,723

 
$
65,447

 
$
33,492

 
$
(142,528
)
 
$
146,134

 
 
 
 
 
 
 
 
 
 
Total assets as of December 31, 2015
$
2,310,409

 
$
2,407,217

 
$
868,528

 
$
309,058

 
$
5,895,212

 
Loans
 
Securities
 
Real
Estate(1)
 
Corporate/Other(2)
 
Company
Total
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2014
 

 
 

 
 

 
 

 
 

Interest income
$
113,943

 
$
73,331

 
$
—

 
$
51

 
$
187,325

Interest expense
(13,205
)
 
(6,588
)
 
(15,984
)
 
(41,797
)
 
(77,574
)
Net interest income (expense)
100,738

 
66,743

 
(15,984
)
 
(41,746
)
 
109,751

Provision for loan losses
(600
)
 
—

 
—

 
—

 
(600
)
Net interest income (expense) after provision for loan losses
100,138

 
66,743

 
(15,984
)
 
(41,746
)
 
109,151

 
 
 
 
 
 
 
 
 
 
Operating lease income
—

 
—

 
56,649

 
—

 
56,649

Tenant recoveries
—

 
—

 
9,183

 
—

 
9,183

Sale of loans, net
145,275

 
—

 
—

 
—

 
145,275

Gain on securities
—

 
26,977

 
—

 
—

 
26,977

Unrealized gain (loss) on Agency interest-only securities
—

 
2,144

 
—

 
—

 
2,144

Sale of real estate, net
1,525

 
—

 
28,235

 
—

 
29,760

Fee and other income
3,854

 
—

 
5,374

 
2,476

 
11,704

Net result from derivative transactions
(34,599
)
 
(60,199
)
 
—

 
—

 
(94,798
)
Earnings from investment in unconsolidated joint ventures
—

 
—

 
900

 
1,090

 
1,990

Gain on assignment of mortgage loan financing
—

 
—

 
432

 
—

 
432

Loss on extinguishment of debt
—

 
—

 
—

 
(150
)
 
(150
)
Total other income
116,055

 
(31,078
)
 
100,773

 
3,416

 
189,166

 
 
 
 
 
 
 
 
 
 
Salaries and employee benefits
(22,400
)
 
—

 
—

 
(59,744
)
 
(82,144
)
Operating expenses
235

 
—

 
—

 
(25,633
)
 
(25,398
)
Real estate operating expenses
—

 
—

 
(32,670
)
 
—

 
(32,670
)
Real estate acquisition costs
—

 
—

 
(2,400
)
 
(4
)
 
(2,404
)
Fee expense
(2,172
)
 
(65
)
 
(83
)
 
(703
)
 
(3,023
)
Depreciation and amortization
—

 
—

 
(28,271
)
 
(176
)
 
(28,447
)
Total costs and expenses
(24,337
)
 
(65
)
 
(63,424
)
 
(86,260
)
 
(174,086
)
 
 
 
 
 
 
 
 
 
 
Tax (expense) benefit
—

 
—

 
—

 
(26,605
)
 
(26,605
)
Segment profit (loss)
$
191,856

 
$
35,600

 
$
21,365

 
$
(151,195
)
 
$
97,626

 
 
 
 
 
 
 
 
 
 
Total assets as of December 31, 2014
$
1,939,008

 
$
2,815,566

 
$
771,129

 
$
288,532

 
$
5,814,235

 
(1)
Includes the Company’s investment in unconsolidated joint ventures that held real estate of $34.0 million and $33.7 million as of December 31, 2016 and 2015, respectively
(2)
Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to combined consolidated Company totals. This caption also includes the Company’s investment in unconsolidated joint ventures and strategic investments that are not related to the other reportable segments above, including the Company’s investment in unconsolidated joint ventures of $48,771 as of December 31, 2015, the Company’s investment in FHLB stock of $77.9 million as of December 31, 2016 and 2015, the Company’s deferred tax asset of $2.1 million and $5.0 million as of December 31, 2016 and 2015, respectively and the Company’s senior unsecured notes of $559.8 million and $612.6 million as of December 31, 2016 and 2015, respectively.