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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities      
Net income (loss) $ (495,175) $ (64,613) $ 290,726
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of discount and net origination fees on loans receivable and debt securities (23,194) (55,059) (27,038)
Accretion in excess of cash receipts on purchased credit-impaired loan 0 0 (8,515)
Paid-in-kind interest added to loan principal, net of interest received (38,408) (25,152) (29,844)
Straight-line rents (29,330) (32,664) (12,617)
Amortization of above- and below-market lease values, net (6,862) (15,319) 2,045
Amortization of deferred financing costs and debt discount and premium 89,639 83,719 28,936
Equity method earnings (10,560) (285,151) (99,375)
Distributions of income from equity method investments 79,995 72,197 79,361
Provision for loan loss 43,034 19,741 35,005
Allowance for doubtful accounts 26,860 14,602 3,314
Impairment of real estate and intangibles 588,223 104,360 11,717
Goodwill impairment 0 316,000 0
Depreciation and amortization 572,406 617,779 171,682
Equity-based compensation 41,876 154,429 13,638
Change in fair value of contingent consideration—Internalization (1,730) (20,600) (11,740)
Gain on sales of real estate, net (167,231) (135,262) (73,616)
Deferred income tax benefit (69,430) (138,459) (7,618)
Other (gain) loss, net (49,976) 45,360 0
Increase in other assets and due from affiliates (40,123) (66,287) 2,053
Decrease in accrued and other liabilities and due to affiliates (470) (11,169) 45,365
Other adjustments, net (2,579) 4,094 (8,307)
Net cash provided by operating activities 506,965 582,546 405,172
Cash Flows from Investing Activities      
Contributions to investments in unconsolidated ventures (548,163) (522,935) (226,665)
Return of capital from equity method investments 433,144 225,477 113,491
Acquisition of loans receivable and securities (104,247) (590,536) (199,638)
Cash and restricted cash assumed in Merger, net of payments for merger-related liabilities (Note 3) 0 132,377 0
Net disbursements on originated loans (317,952) (392,790) (385,702)
Repayments of loans receivable 143,360 831,074 732,393
Proceeds from sales of loans receivable and securities 225,607 117,540 220,900
Cash receipts in excess of accretion on purchased credit-impaired loans 159,229 357,423 140,057
Acquisition of and additions to real estate, related intangibles and leasing commissions (1,349,467) (1,325,122) (501,221)
Proceeds from sales of real estate, net of debt assumed by buyers 864,347 1,607,806 390,943
Proceeds from paydown and maturity of securities 43,625 112,939 0
Cash and restricted cash contributed to Colony Credit (Note 4) (141,153) 0 0
Proceeds from sale of investments in unconsolidated ventures (Notes 7 and 22) 231,040 553,327 0
Proceeds from sale of equity interests in securitization trusts, net of cash and restricted cash deconsolidated (Note 15) 142,270 0 0
Proceeds from syndication of investment, net of cash and restricted cash deconsolidated 0 156,897 0
Proceeds from sale of Townsend, net of cash assumed by buyer (Note 17) 0 454,579 0
Acquisition of CPI, net of cash and restricted cash acquired (Note 3) 0 (23,111) 0
Acquisition of THL Hotel Portfolio, net of cash and restricted cash acquired (Note 3) 0 (8,976) 0
Investment deposits (34,314) (480) (67,693)
Receipt (return) of borrower escrow deposits 0 (20,237) (34,260)
Net (payments) receipts on settlement of derivative instruments (15,954) (11,800) 34,471
Other investing activities, net 415 12,935 (1,619)
Net cash provided by (used in) investing activities (268,213) 1,666,387 215,457
Cash Flows from Financing Activities      
Proceeds from issuance of preferred stock, net 0 638,100 0
Dividends paid to preferred stockholders (120,702) (130,182) (48,372)
Dividends paid to common stockholders (310,519) (482,156) (181,172)
Repurchase of common stock (343,143) (300,177) 0
Borrowings from corporate credit facility 685,000 1,041,000 694,000
Repayment of borrowings from corporate credit facility (735,000) (1,413,600) (586,400)
Borrowings from secured debt 1,791,021 4,573,099 1,072,556
Repayments of secured debt (1,985,990) (4,733,640) (1,601,423)
Payment of deferred financing costs (28,630) (96,069) (22,464)
Contributions from noncontrolling interests 1,019,888 1,173,432 819,033
Distributions to and redemptions of noncontrolling interests (518,864) (970,615) (627,629)
Redemption of preferred stock (200,000) (635,785) (19,998)
Reissuance of preferred stock to an equity method investee 0 0 19,998
Shares canceled for tax withholdings on vested stock awards (34,203) (5,837) (2,860)
Redemption of OP Units for cash (4,830) (5,085) (2,557)
Acquisition of noncontrolling interests 0 0 (3,963)
Repurchase of exchangeable senior notes 0 (15,455) 0
Other financing activities, net (2,432) (1,411) 0
Net cash used in financing activities (788,404) (1,364,381) (491,251)
Effect of exchange rates on cash, cash equivalents and restricted cash (11,538) 11,482 (4,554)
Net increase (decrease) in cash, cash equivalents and restricted cash (561,190) 896,034 124,824
Cash, cash equivalents and restricted cash, beginning of period 1,393,920 497,886 373,062
Cash, cash equivalents and restricted cash, end of period 832,730 1,393,920 497,886
Reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets      
Cash and cash equivalents 921,822 376,005 185,854
Restricted cash 471,078 111,959 187,208
Cash and restricted cash included in assets held for sale 1,020 9,922 0
Cash, cash equivalents and restricted cash, beginning of period 1,393,920 497,886 373,062
Cash and cash equivalents 461,912 921,822 376,005
Restricted cash 366,758 471,078 111,959
Cash and restricted cash included in assets held for sale 4,060 1,020 9,922
Cash, cash equivalents and restricted cash, end of period $ 832,730 $ 1,393,920 $ 497,886