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Real Estate Owned and Held-For-Sale (Details) (USD $)
9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Sep. 30, 2014
Multifamily Portfolio
Dec. 31, 2013
Multifamily Portfolio
Sep. 30, 2014
Hotel Portfolio
Dec. 31, 2013
Hotel Portfolio
Sep. 30, 2014
Land
Dec. 31, 2013
Land
Sep. 30, 2014
Land
Multifamily Portfolio
Dec. 31, 2013
Land
Multifamily Portfolio
Sep. 30, 2014
Land
Hotel Portfolio
Dec. 31, 2013
Land
Hotel Portfolio
Sep. 30, 2014
Building and intangible assets
Dec. 31, 2013
Building and intangible assets
Sep. 30, 2014
Building and intangible assets
Multifamily Portfolio
Dec. 31, 2013
Building and intangible assets
Multifamily Portfolio
Sep. 30, 2014
Building and intangible assets
Hotel Portfolio
Dec. 31, 2013
Building and intangible assets
Hotel Portfolio
Sep. 30, 2014
Real Estate owned
Dec. 31, 2013
Real Estate owned
Sep. 30, 2014
Real Estate owned
Multifamily Portfolio
item
Jun. 30, 2014
Real Estate owned
Multifamily Portfolio
Mar. 31, 2014
Real Estate owned
Multifamily Portfolio
Dec. 31, 2013
Real Estate owned
Multifamily Portfolio
Sep. 30, 2014
Real Estate owned
Hotel Portfolio
item
Sep. 30, 2013
Real Estate owned
Hotel Portfolio
Sep. 30, 2014
Real Estate held for sale
Multifamily Portfolio
item
Dec. 31, 2014
Real Estate held for sale
Multifamily Portfolio
Subsequent event
item
Sep. 30, 2014
First mortgage
Multifamily Portfolio
Jun. 30, 2014
First mortgage
Multifamily Portfolio
Real Estate owned                                                            
Real estate owned, gross             $ 16,432,495 $ 22,276,230 $ 5,538,844 $ 11,382,579 $ 10,893,651 $ 10,893,651 $ 94,250,878 $ 107,748,075 $ 31,129,305 $ 46,115,430 $ 63,121,573 $ 61,632,645                        
Less: accumulated depreciation and amortization (19,945,236) (18,306,128) (7,077,163) (8,598,915) (12,868,073) (9,707,213)                                                
Real estate owned, net 90,738,137 111,718,177 29,590,986 48,899,094 61,147,151 62,819,083                               11,400,000                
Number of properties                                         3       5          
Number of properties sold                                                       1    
Proceeds from sale of properties                                         3,100,000                  
Gain on sale of property                                         (200,000)             500,000    
Reduction of mortgage note payable                                         3,400,000                  
Weighted average occupancy rate of properties (as a percent)                                         86.00%     85.00% 57.00% 56.00%        
Impairment loss on real estate owned 250,000                                           300,000              
Amount of weighted average daily rate of properties                                                 79 80        
Amount of weighted average daily rate of properties                                                 44 45        
First lien mortgage - real estate owned 25,022,701 42,745,650                                     25,000,000     42,700,000           11,000,000
Depreciation in connection with reclassification of property from real estate held-for-sale to real estate owned, net                                           300,000                
Restricted cash due to escrow requirement 143,848,917 54,962,316                                 1,500,000 900,000                    
Real Estate Held-For-Sale                                                            
Number of properties reclassified as real estate held-for-sale                                                     3      
Carrying value of real estate properties classified as held-for-sale                                                     26,400,000 11,000,000 23,800,000  
Mortgage notes payable-held-for-sale $ 23,791,205 $ 11,005,354