Arbor Realty Trust, Inc. ABR Cash Flow

Arbor realty trust, inc. (ABR)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Operating activities:
Net (loss) income
56,876	155,238	159,572	153,780	140,989	148,051	130,388	116,934	110,633	97,509	97,130	89,585	83,401	62,481	38,487	39,293	39,553	53,429	53,455	101,514	102,481	93,048	90,888	30,689	21,537	21,298	16,307	13,330	24,728	21,716	-5,798	-10,300	-36,201	-40,096	0	0	0
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization
7,545	7,510	7,577	7,583	7,519	7,453	7,382	7,363	7,334	7,385	7,434	7,414	6,041	5,022	4,428	3,870	4,874	5,436	5,732	6,288	6,998	7,371	7,698	7,760	7,430	7,250	6,941	6,646	6,359	5,904	6,112	6,337	6,695	5,951	0	0	0
Stock-based compensation
9,275	9,514	8,831	7,708	7,306	6,095	5,845	5,499	5,080	4,840	4,406	4,336	4,137	3,514	3,492	3,178	3,432	3,443	3,191	3,020	3,534	1,989	1,856	1,746	1,175	1,600	1,432	1,249	1,096	578	0	0	0	-	-	-	-
Amortization and accretion of interest and fees, net
6,025	5,045	3,646	3,725	5,999	9,291	10,144	10,498	7,885	4,682	5,319	4,752	4,452	4,563	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of capitalized mortgage servicing rights
48,221	48,681	49,216	48,928	48,541	48,124	47,414	47,288	47,179	47,202	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment loss on real estate owned
-	-	-	-	-	-	-	-	-	3,200	0	0	0	-	-	-	-	-	-	-	-	250	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Originations of loans held-for-sale
4,906,416	4,564,032	4,978,175	4,966,145	4,785,240	5,074,662	4,612,598	4,236,638	4,212,963	4,444,939	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of loans held-for-sale, net of gain on sale
4,150,506	4,189,787	4,941,314	4,676,888	4,844,023	4,893,886	4,448,120	4,310,189	4,496,260	4,814,906	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage servicing rights
98,463	90,761	98,904	94,209	93,437	98,839	83,425	77,107	76,424	76,820	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Write-off of capitalized mortgage servicing rights from payoffs
23,887	22,425	23,657	24,028	24,705	25,058	22,347	19,413	17,250	15,832	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loss sharing (net of recoveries)
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for credit losses (net of recoveries)
0	-	-	-	-	8,353	-966	198	565	-456	-566	-2,619	-815	-134	2,088	2,419	3,469	4,467	1,454	2,503	539	-308	806	229	1,921	4,287	6,434	10,533	17,657	22,946	40,808	46,182	45,797	38,542	0	0	0
Provision for loss sharing (net of recoveries)
-	-	-	-	-	3,843	2,986	-1,650	-1,465	-259	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Charge-offs) recoveries for loss-sharing obligations, net
403	797	-328	-717	177	56	3,536	-114	-116	1,638	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	86,312	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax benefit
-15,550	150	1,395	-2,148	-2,913	-12,033	-21,868	-21,471	-22,546	-7,399	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale and restructuring of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Amortization and accretion of interest, fees and intangible assets, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-2,348	-2,096	-4,306	-3,127	-1,968	-1,037	52	1,634	3,673	5,149	9,591	10,167	0	0	0
Income from equity affiliates
12,476	10,635	9,225	4,479	2,601	1,196	-3,603	-1,579	-2,968	-2,951	3,557	7,490	11,860	12,995	12,511	13,935	11,102	12,301	11,202	4,798	3,304	248	70	39	-82	-204	-243	-386	-529	-697	-794	3,147	3,396	3,671	0	0	0
Loss on extinguishment of debt
-9,265	-7,439	0	0	0	-	-	-	-	7,116	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	4,930	4,930	7,907	28,875	30,459	33,417	34,373	15,331	10,878	0	0	0
Changes in operating assets and liabilities
0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	11,631	15,430	15,430	4,407	7,784	0	0	0	-	-	-	-	-	-	-	-	3,953	0	0	0	-	-	-	-
Change in fair value of non-qualifying swaps and linked transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41	-44	-715	-1,951	-1,798	-1,886	-1,655	-847	-1,334	-741	85	145	246	0	0	0
Loss on termination of swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,630	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on acceleration of deferred income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,172	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities
-	-	-	-	-	-	-	-	-23,698	308	16,886	19,946	47,529	4,624	-929	-10,122	-8,941	-2,535	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	3,679	3,925	2,830	964	0	0	0
Distributions of operations from equity affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	97	97	97	96	0	0	0
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	2,985	6,674	2,647	3,324	0	0	0
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-
Due to/from related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-1,236	-2,138	-2,307	10,761	0	0	0
Net cash (used in) provided by operating activities
-728,161	-226,537	214,952	-134,046	209,857	-37,735	-123,270	171,555	407,928	459,704	39,954	90,559	-129,779	-198,515	149,627	34,424	37,823	36,258	41,574	36,831	28,494	30,795	24,824	22,904	25,239	22,522	31,232	26,108	21,873	20,166	15,756	17,453	13,365	-389	0	0	0
Investing Activities:
Loans and investments funded, originated and purchased, net
3,124,099	2,712,354	2,276,683	2,069,121	1,665,318	1,545,499	1,979,855	2,191,137	2,012,378	1,867,393	1,196,586	945,709	725,260	870,166	975,382	903,676	939,394	985,008	957,749	1,009,848	969,983	908,769	848,728	764,820	761,029	594,127	524,556	459,110	322,662	261,875	288,177	234,828	233,568	219,608	0	0	0
Payoffs and paydowns of loans and investments
1,771,573	1,753,691	1,516,528	1,328,288	1,049,565	960,769	889,589	932,578	959,967	959,696	894,166	713,177	700,614	667,902	819,525	845,563	969,847	985,789	991,278	2,013,708	1,390,854	987,700	1,272,624	-25,635	185,299	378,738	-229,858	-141,229	-181,526	-185,675	-232,659	-205,333	-154,282	-157,753	0	0	0
Deferred fees
25,183	22,340	21,364	18,310	12,301	13,114	12,324	14,276	13,582	10,982	11,739	10,384	9,322	11,938	8,580	6,962	6,268	4,876	4,702	4,642	4,571	5,687	6,627	6,896	7,357	5,305	4,027	3,558	2,764	3,062	3,337	2,871	3,373	2,860	0	0	0
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,050	0	0	0
Investments in real estate, net
503	475	265	434	503	367	419	459	619	672	538	603	315	588	810	1,248	1,721	2,224	3,065	3,900	4,330	4,714	6,010	6,273	6,482	8,004	6,990	6,395	6,141	4,206	0	0	0	-	-	-	-
Contributions to equity affiliates
7,552	13,522	9,153	6,138	6,063	2,493	2,480	2,503	2,805	693	2,142	2,553	3,990	6,091	6,948	8,561	8,513	19,324	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of securities held-to-maturity, net
-	20,000	45,862	35,862	49,054	47,499	30,471	40,972	27,780	27,173	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Payoffs and paydowns of securities held-to-maturity
14,280	12,488	5,636	4,429	3,651	2,269	1,607	971	597	460	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from equity affiliates
-	-	-	-	-	3,122	5,440	7,104	6,894	4,671	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,536	0	0	0
Proceeds from sale of real estate, net
-	-	-	-	-	-	-	-	-	-	-	-	-	49,030	70,624	70,624	30,942	40,077	0	0	0	-	-	-	-	-	-	-	-	26,443	0	0	0	-	-	-	0
Proceeds from sale of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	1,567	0	0	0	-	-	-	-	33,904	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from insurance settlements, net
-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Due to borrowers and reserves
36,192	37,121	25,193	30,680	4,035	65,213	2,353	19,460	24,816	-38,372	0	0	0	-	-	-	-	-	-	-	-	-	36	36	36	585	585	779	761	505	599	976	1,671	1,397	0	0	0
Purchases of securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29,024	0	0	0	-	-	-	-	-	-	-	-
Principal collection on securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	663	8,942	14,665	31,662	38,614	42,183	53,856	53,618	55,895	0	0	0	-	-	-	-
Net cash used in investing activities
-1,367,097	-994,740	-814,187	-792,265	-661,298	-681,875	-1,106,713	-1,299,417	-1,110,822	-906,845	-339,372	-309,021	-38,013	-196,917	-151,891	10,692	59,544	24,734	58,884	83,193	504	144,951	79,096	82,297	-121,965	-200,076	-277,053	-300,256	-115,897	-46,533	-22,969	-2,785	-69,798	-40,348	0	0	0
Financing activities:
Proceeds from repurchase agreements and credit facilities
9,590,056	8,986,286	9,656,091	9,321,406	8,921,436	9,166,255	8,518,617	7,843,132	7,646,333	8,215,669	0	0	0	-	-	-	0	-	-	-	679,842	402,080	326,655	309,165	343,528	235,145	227,860	164,635	149,111	162,922	0	0	0	-	-	-	-
Paydowns and payoffs of repurchase agreements and credit facilities
8,773,232	8,443,275	9,440,254	8,610,721	8,516,225	8,559,057	7,910,435	7,436,933	7,873,444	8,593,411	8,181,878	8,235,229	6,005,419	3,571,929	1,832,311	382,705	503,619	636,940	654,302	418,888	545,271	382,019	414,381	386,860	128,527	205,482	149,743	190,835	206,073	108,366	92,920	38,995	11,859	4,848	0	0	0
Proceeds from issuance of collateralized loan obligations
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payoffs and paydowns of collateralized loan obligations
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	177,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions paid to noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	175	212	212	212	217	217	218	217	281	0	0	0
Proceeds from issuance of common stock
0	-	-	-	-	156,417	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	6,800	6,800	49,280	49,280	134,176	0	0	0	-	-	-	-	-	-	-	-
Proceeds from collateralized loan obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	177,000	0	0	0	-	-	-	-	-	-	-	-
Payoffs and paydowns of collateralized debt obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	312,071	352,221	342,497	420,465	307,482	363,956	308,895	228,692	167,154	99,349	157,447	190,709	158,956	137,141	98,443	97,863	64,413	0	0	0
Settlements of convertible senior unsecured notes
250,437	231,940	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of senior unsecured notes
385,000	200,000	90,000	90,000	115,000	125,000	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of operating partnership units
1,643	1,674	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of withholding taxes on net settlement of vested stock
1,777	3,634	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on financial instruments underlying linked transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	59,613	110,480	127,432	193,002	165,385	0	0	0	-	-	-	-	-	-	-	-
Receipts on financial instruments underlying linked transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	66,027	351,048	201,066	141,734	175,181	0	0	0	-	-	-	-	-	-	-	-
Payments on swaps and margin calls to counterparties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	290	1,050	1,300	1,975	2,032	5,320	24,797	54,842	75,139	129,262	110,306	73,336	61,541	3,370	8,860	19,090	15,930	0	0	0
Repurchase of common stock
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	684	0	0	0	-	-	-	-
Distributions paid on common stock
117,994	107,846	97,613	89,102	78,222	68,083	59,371	51,558	46,836	42,612	39,113	36,227	32,891	31,798	31,217	30,639	30,577	29,495	28,412	27,330	26,203	26,029	25,855	24,900	23,559	21,326	0	0	0	-	-	-	-	-	-	-	-
Distributions paid on noncontrolling interest
23,931	23,387	22,818	22,187	21,758	20,650	19,108	17,620	16,135	15,286	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions paid on preferred stock
7,554	7,554	7,554	7,554	7,554	7,554	7,554	7,554	7,554	7,554	7,553	7,554	7,553	7,554	7,554	7,554	7,554	7,554	7,553	7,553	7,575	7,096	0	0	0	-	-	-	-	-	-	-	0	-	0	0	0
Distributions paid on preferred stock of private REIT
14	15	14	15	14	14	15	15	15	15	15	14	15	15	14	14	14	14	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Paydowns and payoffs of mortgage note payable - real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	27,155	27,154	27,154	42	30,984	0	0	0	-	-	-	-	-	-	-	-	20,750	0	0	0	-	-	-	-
Proceeds from mortgage note payable - real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27,155	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payoffs of related party financing
-	-	-	-	-	50,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of deferred financing costs
37,200	26,543	11,283	19,325	19,017	20,499	32,888	29,255	27,617	24,576	17,017	16,318	11,367	10,617	5,181	4,626	5,367	10,776	11,187	9,938	15,348	10,573	10,588	7,786	2,657	5,037	0	0	0	-	-	-	-	-	-	-	-
Payoffs of junior subordinated notes to subsidiary trust issuing preferred securities
-	-	-	-	-	-	-	-	-	12,691	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	7,168	-	85,161	80,173	69,978	-162,354	-30,702	-122,469	-24,762	-12,514	-65,983	42,989	-34,005	23,820	-12,931	-13,073	13,942	-45,425	0	0	0
Receipts on swaps and returns of margin calls from counterparties
-	-	-	-	-	-	-	-	-	430	1,589	2,780	4,100	4,600	4,950	4,890	4,500	4,840	5,080	5,760	6,617	8,993	14,458	34,114	61,748	80,653	130,386	109,710	74,542	61,478	6,620	9,210	17,136	15,280	0	0	0
Expenses paid on issuance of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	285	345	1,815	2,020	4,788	0	0	0	-	-	-	-	-	-	-	-
Proceeds from issuance of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,500	22,500	22,500	54,000	70,287	0	0	0	-	-	-	-	-	-	-	-
Expenses paid on issuance of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	858	779	797	2,067	2,632	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
2,205,285	1,391,170	629,232	1,161,029	633,604	816,507	1,303,427	1,140,517	716,995	522,953	401,393	277,981	194,465	326,382	-211,534	-184,802	-227,469	-92,501	-57,719	-37,774	43,731	-185,719	-95,705	-108,100	51,465	208,755	269,630	260,578	118,533	320	-11,290	7,218	42,743	-5,149	0	0	0
Net increase in cash, cash equivalents and restricted cash
110,027	169,893	29,997	234,718	182,163	96,897	73,444	12,655	14,101	75,812	101,974	59,519	26,671	-69,050	-213,798	-139,685	-130,101	-31,509	42,738	82,249	72,730	-9,971	8,215	-2,898	-45,260	31,200	23,809	-13,569	24,509	-26,047	-18,503	21,885	-13,689	-45,888	0	0	0
Supplemental cash flow information:
Cash used to pay interest
171,067	167,581	158,755	146,024	130,596	118,923	104,572	99,115	88,075	75,582	69,874	65,170	56,928	53,012	47,560	44,207	42,944	43,939	44,354	45,119	43,918	42,756	42,241	43,457	44,552	46,717	44,944	44,114	41,589	38,566	38,578	38,259	41,295	41,559	0	0	0
Cash used to pay taxes
19,284	19,611	19,161	22,514	18,316	20,026	22,721	18,069	23,791	20,823	14,618	13,603	953	264	199	54	132	287	389	355	288	80	328	324	360	462	667	1,231	1,146	1,159	572	7	-6	161	0	0	0
Supplemental schedule of non-cash investing and financing activities:
Issuance of common stock from convertible debt
71,320	69,232	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Special dividend - common stock issued
-	10,079	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Special dividend - special voting preferred stock and operating partnership units issued
-	2,478	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of conversion feature of convertible senior unsecured notes
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Settlements of convertible senior unsecured notes
0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans converted to real estate owned, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	83,099	0	0	0
Assumption of mortgage notes payable - real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55,351	0	0	0
Issuance of special voting preferred shares and operating partnership units in connection with the Acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,974	0	0	0
Investments transferred from real estate owned, net to real estate held-for-sale, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage note payable - real estate held-for-sale, net transferred to real estate owned, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued and unpaid expenses on preferred stock offerings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-
Accrued and unpaid expenses on common stock offerings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
8.25% Series A preferred stock
Distributions accrued on preferred stock
267	267	267	267	267	267	0	267	267	267	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
7.75% Series B preferred stock
Distributions accrued on preferred stock
203	203	203	203	203	203	0	203	203	203	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
8.50% Series C preferred stock
Distributions accrued on preferred stock
159	159	159	159	159	159	0	159	159	159	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-