Arbor realty trust, inc. (ABR)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Operating activities:
Net (loss) income

-68,356

44,612

43,217

37,403

30,006

48,946

37,425

24,612

37,068

31,283

23,971

18,311

23,944

30,904

16,426

12,126

3,023

6,910

17,232

12,387

16,898

6,937

65,290

13,354

7,465

4,777

5,091

4,202

7,227

-213

2,114

15,599

4,215

-27,727

-2,388

-10,300

320

Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization

1,947

1,847

1,842

1,909

1,912

1,914

1,848

1,845

1,846

1,843

1,829

1,816

1,897

1,892

1,808

443

877

1,298

1,250

1,447

1,438

1,595

1,806

2,158

1,811

1,922

1,868

1,827

1,632

1,612

1,574

1,540

1,176

1,820

1,800

1,898

432

Stock-based compensation

3,517

1,940

2,316

1,502

3,756

1,257

1,193

1,100

2,545

1,007

847

681

2,305

573

777

481

1,681

552

463

735

1,692

300

292

1,248

147

167

182

677

571

0

0

524

53

-

-

-

-

Amortization and accretion of interest and fees, net

1,633

1,932

1,021

1,439

653

533

1,100

3,713

3,945

1,386

1,454

1,100

742

2,023

887

800

852

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of capitalized mortgage servicing rights

11,822

11,950

12,125

12,324

12,282

12,485

11,837

11,937

11,865

11,775

11,711

11,828

11,888

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment loss on real estate owned

-

-

-

-

-

-

-

-

-

500

0

1,500

1,200

-

-

-

-

-

-

-

-

0

0

0

250

-

-

-

-

-

-

-

-

-

-

-

-

Originations of loans held-for-sale

1,088,699

1,205,282

1,386,874

1,225,561

746,315

1,619,425

1,374,844

1,044,656

1,035,737

1,157,361

998,884

1,020,981

1,267,713

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of loans held-for-sale, net of gain on sale

957,060

887,869

1,454,430

851,147

996,341

1,639,396

1,190,004

1,018,282

1,046,204

1,193,630

1,052,073

1,204,353

1,364,850

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage servicing rights

21,934

27,909

29,911

18,709

14,232

36,052

25,216

17,937

19,634

20,638

18,898

17,254

20,030

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write-off of capitalized mortgage servicing rights from payoffs

5,920

6,598

6,779

4,590

4,458

7,830

7,150

5,267

4,811

5,119

4,216

3,104

3,393

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for loss sharing (net of recoveries)

21,537

-

-

-

454

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for credit losses (net of recoveries)

54,382

-

-

-

-

9,320

835

-2,127

325

1

1,999

-1,760

-696

-109

-54

44

-15

2,113

277

1,093

982

-899

1,326

-870

134

215

750

821

2,500

2,362

4,849

7,945

7,789

20,224

10,223

7,560

535

Provision for loss sharing (net of recoveries)

-

-

-

-

-

1,003

2,019

348

473

146

-2,617

533

1,679

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Charge-offs) recoveries for loss-sharing obligations, net

-160

1,127

373

-937

234

2

-16

-43

113

3,482

-3,666

-45

1,867

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

15

-

-

-

-

85,793

0

0

518

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax benefit

-19,900

1,176

2,224

950

-4,200

2,421

-1,319

185

-13,320

-7,414

-922

-890

1,827

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on sale and restructuring of loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-1,000

Amortization and accretion of interest, fees and intangible assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,527

-

-1,135

1,568

-1,393

-1,387

-883

-640

-214

-229

47

449

1,367

1,809

1,523

4,891

1,943

Income from equity affiliates

3,992

1,502

3,718

3,264

2,151

92

-1,028

1,386

746

-4,707

996

-3

763

1,801

4,929

4,367

1,897

1,317

6,353

1,534

3,095

219

-51

40

40

40

-81

-81

-81

2

-225

-224

-250

-94

3,717

24

24

Loss on extinguishment of debt

-1,954

-7,311

0

0

-128

-

-

-

-

0

0

0

7,116

-

-

-

-

-

-

-

-

-

-

-

-

0

1,167

0

3,763

0

4,144

20,968

5,346

2,958

5,100

1,926

892

Changes in operating assets and liabilities

90,282

-

-30,281

10,750

14,501

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

11,023

607

3,799

0

0

3,984

-

-

-

-

-

-

-

-

466

0

0

3,487

-

-

-

-

Change in fair value of non-qualifying swaps and linked transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0

-0

88

-46

-86

-671

-1,148

107

-174

-440

-339

-379

418

385

-279

-278

Loss on termination of swaps

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0

-340

0

-4,289

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on acceleration of deferred income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

8,162

0

11,009

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities

-

-

-

-

-

-

-

-

18,961

-6,060

-4,872

-31,727

42,967

10,518

-1,812

-4,143

61

4,965

-11,005

-2,963

6,468

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

79

194

1,437

-

-159

349

-13

-

-228

2,652

1,563

-308

17

1,557

-302

Distributions of operations from equity affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40

40

40

-

24

24

24

-

24

24

24

23

24

24

24

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,503

-443

83

-

1,249

4,119

-4,160

-

-1,416

4,996

-3,912

3,317

2,272

970

-3,235

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

419

179

-

30

572

-239

-

214

341

-424

-

-

-

-

Due to/from related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-109

-449

1,836

-

-1,418

-1,006

2,189

-

-563

-504

1,223

-1,392

-1,465

-673

14,293

Net cash (used in) provided by operating activities

-233,235

-283,688

134,849

-346,087

268,389

157,801

-214,149

-2,184

20,797

72,266

80,676

234,189

72,573

-347,483

131,281

13,849

3,837

658

16,078

17,248

2,271

5,974

11,336

8,911

4,572

3

9,416

11,246

1,855

8,713

4,292

7,012

147

4,303

5,989

2,924

-13,607

Investing Activities:
Loans and investments funded, originated and purchased, net

815,501

817,262

496,258

995,078

403,756

381,591

288,696

591,275

283,937

815,947

499,978

412,516

138,952

145,140

249,101

192,066

283,857

250,356

177,394

227,785

329,471

223,098

229,494

187,920

268,256

163,057

145,586

184,128

101,354

93,486

80,140

47,680

40,567

119,789

26,790

46,421

26,607

Payoffs and paydowns of loans and investments

298,701

509,900

447,139

515,833

280,819

272,737

258,899

237,110

192,023

201,557

301,888

264,499

191,752

136,027

120,898

251,936

159,039

287,650

146,936

376,220

174,980

293,140

1,169,367

-246,634

-228,173

578,064

-128,892

-35,699

-34,733

-30,532

-40,264

-75,995

-38,882

-77,517

-12,937

-24,944

-42,353

Deferred fees

4,857

5,534

5,301

9,491

2,014

4,558

2,247

3,482

2,827

3,768

4,199

2,788

227

4,525

2,843

1,725

2,842

1,168

1,225

1,031

1,450

995

1,165

960

2,566

1,934

1,434

1,421

515

655

965

627

813

930

499

1,129

300

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,050

Investments in real estate, net

230

268

-80

85

202

58

89

154

66

110

129

314

119

-23

193

26

391

198

631

499

894

1,040

1,466

929

1,278

2,336

1,729

1,139

2,799

1,322

1,134

884

864

-

-

-

-

Contributions to equity affiliates

60

4,382

3,035

75

6,030

13

20

0

2,460

0

43

302

348

1,449

454

1,739

2,448

2,306

2,068

1,690

13,259

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of securities held-to-maturity, net

-

0

10,000

0

10,000

25,862

0

13,192

8,445

8,834

10,501

0

7,838

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,750

15,823

44,969

-

-

-

-

Payoffs and paydowns of securities held-to-maturity

3,313

7,898

1,911

1,158

1,521

1,046

704

380

139

384

68

6

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions from equity affiliates

-

-

-

-

-

12

303

199

2,608

2,330

1,967

-11

385

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-24

4,511

0

49

Proceeds from sale of real estate, net

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

39,681

9,347

21,594

0

0

18,482

-

-

-

-

-

-

-

-

2,312

0

0

24,131

-

-

-

1,447

Proceeds from sale of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-0

0

0

1,567

-

-

-

-

0

0

0

33,904

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from insurance settlements, net

-

-

-

-

-

-

-801

-984

2,278

-

-521

367

647

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due to borrowers and reserves

1,834

13,845

-776

21,289

2,763

1,917

4,711

-5,356

63,941

-60,943

21,818

0

753

-

-

-

-

-

-

-

-

-

0

-0

36

0

0

0

585

0

194

-18

328

94

570

677

54

Purchases of securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

8,524

20,500

-

-

-

-

-

-

-

-

Principal collection on securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

663

8,278

5,723

16,996

7,615

11,848

17,396

16,757

9,892

-

-

-

-

Net cash used in investing activities

-510,754

-312,212

-54,086

-490,045

-138,397

-131,659

-32,164

-359,078

-158,974

-556,497

-224,868

-170,483

45,003

10,975

-194,516

100,524

-113,900

56,000

-31,932

149,376

-148,710

90,150

-7,623

66,688

-4,263

24,295

-4,422

-137,575

-82,374

-52,680

-27,626

46,783

-13,010

-29,116

-7,442

-20,228

16,438

Financing activities:
Proceeds from repurchase agreements and credit facilities

2,229,200

2,120,117

2,739,739

2,501,000

1,625,430

2,789,922

2,405,054

2,101,030

1,870,249

2,142,284

1,729,569

1,904,231

2,439,585

-

-

-

105,388

-

-

-

409,849

150,869

89,147

29,975

132,087

75,445

71,657

64,338

23,704

68,160

8,432

48,814

37,515

-

-

-

-

Paydowns and payoffs of repurchase agreements and credit facilities

2,058,588

1,827,220

2,975,948

1,911,476

1,728,631

2,824,199

2,146,415

1,816,980

1,771,463

2,175,577

1,672,913

2,253,491

2,491,430

1,764,044

1,726,263

23,680

57,939

24,427

276,657

144,593

191,260

41,789

41,244

270,977

28,007

74,152

13,722

12,644

104,962

18,414

54,814

27,882

7,254

2,968

889

746

244

Proceeds from issuance of collateralized loan obligations

668,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payoffs and paydowns of collateralized loan obligations

282,874

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

177,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16

55

53

50

53

54

53

55

54

54

53

118

Proceeds from issuance of common stock

19,424

-

-

-

-

100,509

1

52,893

3,014

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,800

0

42,480

0

91,696

-

-

-

-

-

-

-

-

Proceeds from collateralized loan obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

219,000

-

-

-

-

0

0

0

177,000

-

-

-

-

-

-

-

-

Payoffs and paydowns of collateralized debt obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0

71,099

8,320

232,650

40,150

61,376

86,288

119,668

96,623

6,315

6,084

58,130

28,819

64,413

39,346

26,377

7,004

25,715

38,765

-7,072

Settlements of convertible senior unsecured notes

21,516

228,791

112

18

3,019

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of senior unsecured notes

275,000

110,000

0

0

90,000

0

0

25,000

100,000

-

-

-

13,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of operating partnership units

1,600

1

0

42

1,631

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of withholding taxes on net settlement of vested stock

1,630

0

147

0

3,487

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on financial instruments underlying linked transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

13,732

45,881

50,866

16,951

79,302

18,265

-

-

-

-

-

-

-

-

Receipts on financial instruments underlying linked transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

132,055

-13,642

-52,385

285,020

-17,925

-72,974

-18,939

-

-

-

-

-

-

-

-

Payments on swaps and margin calls to counterparties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

290

760

250

675

347

4,048

19,726

30,719

20,644

58,171

770

-6,250

8,850

0

6,260

3,980

5,690

Repurchase of common stock

11,291

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

684

-

-

-

-

Distributions paid on common stock

33,249

30,668

27,432

26,645

23,101

20,435

18,921

15,765

12,962

11,723

11,108

11,043

8,738

8,224

8,222

7,707

7,644

7,644

7,644

7,644

6,562

6,562

6,562

6,517

6,387

6,387

5,607

5,176

4,154

-

-

-

-

-

-

-

-

Distributions paid on noncontrolling interest

6,110

6,145

5,940

5,736

5,566

5,576

5,309

5,307

4,458

4,034

3,821

3,822

3,609

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid on preferred stock

1,888

1,889

1,888

1,889

1,888

1,889

1,888

1,889

1,888

1,889

1,888

1,889

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,909

1,410

-

-

-

-

-

-

-

3

-

3

3

3

Distributions paid on preferred stock of private REIT

4

4

3

3

5

3

4

2

5

4

4

2

5

4

3

2

4

3

3

3

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Paydowns and payoffs of mortgage note payable - real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

27,112

42

-0

0

0

30,984

-

-

-

-

-

-

-

-

0

0

0

20,750

-

-

-

-

Proceeds from mortgage note payable - real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

27,155

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payoffs of related party financing

-

-

-

-

-

0

0

0

50,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of deferred financing costs

13,050

15,965

1,216

6,969

2,393

705

9,258

6,661

3,875

13,094

5,625

5,023

834

5,535

4,926

71

83

99

4,372

812

5,491

510

3,123

6,222

716

526

320

1,094

3,096

-

-

-

-

-

-

-

-

Payoffs of junior subordinated notes to subsidiary trust issuing preferred securities

-

-

-

-

-

-

-

-

-

0

0

0

12,691

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12,909

-138,844

27,771

-

17,929

-49,018

190,312

-74,062

12,942

-59,213

-42,020

57,589

-78,824

38,492

-29,771

4,119

30,149

-38,503

28,054

-32,631

30,006

-11,487

-31,312

Receipts on swaps and returns of margin calls from counterparties

-

-

-

-

-

-

-

-

-

0

-1

1

430

1,159

1,190

1,320

930

1,510

1,130

930

1,270

1,750

1,810

1,787

3,646

7,215

21,465

29,420

22,551

56,948

790

-5,746

9,486

2,090

3,380

2,180

7,630

Expenses paid on issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64

0

15

206

124

1,470

219

2,974

-

-

-

-

-

-

-

-

Proceeds from issuance of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

22,500

0

0

31,500

38,787

-

-

-

-

-

-

-

-

Expenses paid on issuance of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

79

0

14

764

0

18

1,284

1,329

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

759,824

781,131

-270,804

935,134

-54,291

19,193

260,993

407,709

128,612

506,113

98,083

-15,813

-65,430

384,553

-25,328

-99,329

66,486

-153,362

1,402

-141,996

201,455

-118,581

21,347

-60,490

-27,994

-28,567

8,952

99,075

129,294

32,307

-99

-42,969

11,081

20,696

18,409

-7,444

-36,810

Net increase in cash, cash equivalents and restricted cash

15,835

185,231

-190,041

99,002

75,701

45,335

14,680

46,447

-9,565

21,882

-46,109

47,893

52,146

48,044

-88,563

15,044

-43,575

-96,704

-14,450

24,629

55,016

-22,456

25,060

15,109

-27,685

-4,269

13,946

-27,252

48,775

-11,659

-23,433

10,826

-1,781

-4,115

16,956

-24,748

-33,979

Supplemental cash flow information:
Cash used to pay interest

42,666

45,609

36,196

46,596

39,180

36,783

23,465

31,168

27,507

22,432

18,008

20,128

15,014

16,724

13,303

11,886

11,097

11,273

9,950

10,623

12,091

11,688

10,715

9,423

10,928

11,173

11,931

10,517

13,094

9,400

11,102

7,992

10,071

9,411

10,783

11,027

10,336

Cash used to pay taxes

1,681

3,925

2,500

11,178

2,008

3,475

5,853

6,980

3,718

6,170

1,201

12,702

750

-34

185

51

60

-98

40

129

215

3

6

63

6

252

1

99

108

457

565

15

120

-128

0

2

288

Supplemental schedule of non-cash investing and financing activities:
Issuance of common stock from convertible debt

4,595

66,725

0

0

2,507

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Special dividend - common stock issued

-

0

0

0

10,079

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Special dividend - special voting preferred stock and operating partnership units issued

-

0

0

0

2,478

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value of conversion feature of convertible senior unsecured notes

-183

-

-

-

1,175

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Settlements of convertible senior unsecured notes

4,778

-

-2,674

6

1,331

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans converted to real estate owned, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

83,099

Assumption of mortgage notes payable - real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

55,351

Issuance of special voting preferred shares and operating partnership units in connection with the Acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,974

Investments transferred from real estate owned, net to real estate held-for-sale, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28,590

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage note payable - real estate held-for-sale, net transferred to real estate owned, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27,112

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued and unpaid expenses on preferred stock offerings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-14

94

-

-

-123

142

-

-

-

-

-

-

-

-

Accrued and unpaid expenses on common stock offerings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-15

80

-

-

-

120

-

-

-

-

-

-

-

-

8.25% Series A preferred stock
Distributions accrued on preferred stock

267

0

0

0

267

0

0

0

267

0

0

0

267

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7.75% Series B preferred stock
Distributions accrued on preferred stock

203

0

0

0

203

0

0

0

203

0

0

0

203

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8.50% Series C preferred stock
Distributions accrued on preferred stock

159

0

0

0

159

0

0

0

159

0

0

0

159

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-