Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 100,501		$ 165,305		$ 56,893
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
(Gain) loss on extinguishment of debt	(10,718)		(685)		0
Depreciation and amortization	29,914		32,673		37,801
Non-cash operating lease expense	1,522		0		0
Unrealized (gain) loss on derivative instruments	390		(645)		(42)
Unrealized (gain) loss on equity securities	(25)		41		0
Unrealized (gain) loss on Agency interest-only securities	(4)		45		91
Provision for (release of) loan loss reserves	25,096		3,711		(8,713)
Amortization of equity based compensation	18,577		31,584		15,300
Amortization of deferred financing costs included in interest expense	12,428		15,565		21,530
Amortization of premium/discount on mortgage loan financing included in interest expense	(604)		(731)		(1,226)
Amortization of above- and below-market lease intangibles	(1,797)		(1,763)		(1,888)
(Accretion)/amortization of discount, premium and other fees on loans	(19,046)		(20,759)		(13,832)
(Accretion)/amortization of discount and premium on securities	(1,352)		(827)		236
Net result from mortgage loan receivables held for sale	523		2,511		(8,398)
Realized (gain) loss on disposition of loan via foreclosure	0		0		26
Realized (gain) loss on securities	276		73		(1,594)
Realized (gain) loss on sale of real estate, net	(8,808)		(115,998)		(55,766)
Realized (gain) loss on sale of derivative instruments	291		(64)		0
(Earnings) loss from investments in unconsolidated ventures in excess of distributions received	(658)		(785)		(1,462)
Insurance proceeds for remediation work due to property damage	473		0		2,092
Insurance proceeds used for remediation work due to property damage	(462)		(27)		(1,888)
Origination of mortgage loan receivables held for sale	0		(61,318)		(220,359)
Repayment of mortgage loan receivables held for sale	0		68		183
Proceeds from sales of mortgage loan receivables held for sale	0		29,151		259,092
Change in deferred tax asset (liability)	1,182		(505)		271
Changes in operating assets and liabilities:
Accrued interest receivable	706		(11,294)		649
Other assets	7,552		4,425		5,758
Accrued expenses and other liabilities	24,647		36,959		(5,015)
Net cash provided by (used in) operating activities	180,604		106,710		79,739
Cash flows from investing activities:
Origination and funding of mortgage loan receivables held for investment	(68,415)		(1,234,765)		(2,309,888)
Purchases of mortgage loan receivables held for investment	0		0		(63,600)
Repayment of mortgage loan receivables held for investment	738,464		909,766		1,103,614
Proceeds from sale of mortgage loan receivables held for investment	0		0		46,557
Purchases of securities	(143,953)		(96,173)		(247,022)
Repayment of securities	232,124		184,838		164,494
Basis recovery of interest-only securities	4,116		4,960		6,589
Proceeds from sales of securities	17,838		5,780		438,594
Purchases of real estate	0		0		(20,452)
Capital improvements of real estate	(4,374)		(6,949)		(4,873)
Proceeds from sale of real estate	13,391		310,527		190,870
Capital distribution from investment in unconsolidated ventures	0		2,284		24,561
Proceeds from FHLB stock	4,410		2,250		19,165
Purchase of derivative instruments	(223)		(1,097)		(69)
Sale of derivative instruments	125		169		0
Net cash provided by (used in) investing activities	793,503		81,590		(651,460)
Cash flows from financing activities:
Deferred financing costs paid	(3,378)		(8,311)		(3,221)
Proceeds from borrowings under debt obligations	921,008		2,426,666		4,519,064
Repayment and repurchase of borrowings under debt obligations	(1,348,093)		(2,412,961)		(4,493,566)
Cash dividends paid to Class A common shareholders	(116,419)		(107,011)		(100,553)
Re-issuance of treasury stock	0		0		(1)
Payment of liability assumed in exchange for shares for the minimum withholding taxes on vesting restricted stock	(7,862)		(11,356)		(4,457)
Purchase of treasury stock	(2,481)		(7,916)		(9,007)
Issuance of common stock	0		0		1
Net cash provided by (used in) financing activities	(557,766)		(150,244)		(91,017)
Net increase (decrease) in cash, cash equivalents and restricted cash	416,341		38,056		(662,738)
Cash, cash equivalents and restricted cash at beginning of period	659,602		621,546		1,284,284
Cash, cash equivalents and restricted cash at end of period	1,075,943		659,602		621,546
Supplemental information:
Cash paid for interest, net of amounts capitalized	233,637		177,977		173,128
Cash paid (received) for income taxes	(2,402)		(1,169)		(2,527)
Non-cash investing and financing activities:
Securities and derivatives purchased, not settled	0		2,953		18
Securities and derivatives sold, not settled	0		10		10
Repayment in transit of mortgage loans receivable held for investment (other assets)	7,867		18,928		26,636
Settlement of mortgage loan receivable held for investment by real estate, net	(91,408)		0		(81,129)
Real estate acquired in settlement of mortgage loan receivable held for investment, net	87,526		9,386		81,750
Net settlement of sale of real estate, subject to debt - real estate	(31,292)		0		(29,827)
Net settlement of sale of real estate, subject to debt - debt obligations	31,292		0		29,827
Real estate acquired in former unconsolidated venture agreement	0		15,436		0
Transfer of real estate, net into real estate held for sale	0		0		25,179
Dividends declared, not paid	32,294		32,000		27,591
Cash and cash equivalents	1,015,678	[1]	609,078	[1]	548,744
Restricted cash	15,450		50,524		72,802
Short-term unsettled U.S. Treasury securities classified in other assets on the consolidated balance sheet	44,815		0		0
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	1,075,943		659,602		621,546
Consolidated Joint Venture
Cash flows from financing activities:
Capital contributed by noncontrolling interests in consolidated ventures	0		186		1,506
Capital distributed to noncontrolling interests in consolidated ventures	$ (541)		$ (29,541)		$ (783)

[1] Includes amounts relating to consolidated variable interest entities. Refer to Note 2 and Note 9.