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Risk Management and Derivatives (Tables)
 12 Months Ended
Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of total investment portfolio by property/collateral types
As of December 31, 2012, the Company's total investment portfolio was comprised of the following property/collateral types ($ in thousands)(1):

Property/Collateral Types
 
Real Estate Finance
 
Net Lease
Assets
 
Operating Properties
 
Land
 
Total
 
% of
Total
Land
 
$
297,039

 
$
—

 
$
—

 
$
970,593

 
$
1,267,632

 
22.3
%
Office
 
124,058

 
301,304

 
258,977

 
—

 
684,339

 
12.0
%
Condominium
 
237,534

 
—

 
385,229

 
—

 
622,763

 
11.0
%
Industrial / R&D
 
94,617

 
472,149

 
55,439

 
—

 
622,205

 
10.9
%
Retail
 
293,651

 
50,529

 
184,000

 
—

 
528,180

 
9.3
%
Entertainment / Leisure
 
98,423

 
414,849

 
14

 
—

 
513,286

 
9.0
%
Hotel
 
298,293

 
91,746

 
84,375

 
—

 
474,414

 
8.3
%
Mixed Use / Mixed Collateral
 
237,989

 
—

 
179,337

 
—

 
417,326

 
7.3
%
Other Property Types
 
181,481

 
9,424

 
24,541

 
—

 
215,446

 
3.7
%
Strategic Investments
 
—

 
—

 
—

 
—

 
351,225

 
6.2
%
Total
 
$
1,863,085

 
$
1,340,001

 
$
1,171,912

 
$
970,593

 
$
5,696,816

 
100.0
%

Explanatory Note:
_______________________________________________________________________________

(1)
Based on the carrying value of the Company's total investment portfolio gross of general loan loss reserves.
Schedule of total investment portfolio by geographical region
As of December 31, 2012, the Company's total investment portfolio had the following characteristics by geographical region ($ in thousands)(1):
Geographic Region
 
Real Estate Finance
 
Net Lease
Assets
 
Operating Properties
 
Land
 
Total
 
% of
Total
West
 
$
340,457

 
$
340,896

 
$
237,496

 
$
367,470

 
$
1,286,319

 
22.6
%
Northeast
 
421,660

 
317,003

 
175,894

 
180,744

 
1,095,301

 
19.2
%
Southeast
 
308,559

 
201,535

 
251,410

 
89,035

 
850,539

 
14.9
%
Southwest
 
197,478

 
182,329

 
209,424

 
120,293

 
709,524

 
12.5
%
Mid-Atlantic
 
43,866

 
104,205

 
217,379

 
180,290

 
545,740

 
9.6
%
International(2)
 
308,210

 
—

 
—

 
—

 
308,210

 
5.4
%
Central
 
159,460

 
68,434

 
61,938

 
9,500

 
299,332

 
5.2
%
Northwest
 
83,236

 
56,409

 
18,371

 
23,261

 
181,277

 
3.2
%
Various
 
159

 
69,190

 
—

 
—

 
69,349

 
1.2
%
Strategic Investments(2)
 
—

 
—

 
—

 
—

 
351,225

 
6.2
%
Total
 
$
1,863,085

 
$
1,340,001

 
$
1,171,912

 
$
970,593

 
$
5,696,816

 
100.0
%

Explanatory Notes:
_______________________________________________________________________________

(1)
Based on the carrying value of the Company's total investment portfolio gross of general loan loss reserves.
(2)
Strategic investments includes $36.6 million of international assets. Additionally, international and strategic investments include $228.7 million of European assets, including $117.6 million in Germany and $111.1 million
Schedule of fair value of derivative financial instruments as well as their classification on Consolidated Balance Sheets
The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of December 31, 2012 and 2011 ($ in thousands):

 
Derivative Assets as of December 31,
 
Derivative Liabilities as of December 31,
 
2012
 
2011
 
2012
 
2011
Derivative
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Foreign exchange contracts
N/A
 
$
—

 
N/A
 
$
—

 
Other Liabilities
 
$
2,855

 
Other Liabilities
 
$
1,342

Cash flow interest rate swap
N/A
 
—

 
N/A
 
—

 
Other Liabilities
 
580

 
Other Liabilities
 
1,031

Total
 
 
$
—

 
 
 
$
—

 
 
 
$
3,435

 
 
 
$
2,373
Schedule of derivative financial instruments on Consolidated Statements of Operations
Derivatives Designated in Hedging Relationships
 
Location of Gain (Loss)
Recognized in
Income on Derivative
 
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)
 
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)
 
Amount of Gain (Loss) Recognized in Earnings (Ineffective Portion)
For Year Ended December 31, 2012
 
 
 
 

 
 

 
 
Cash flow interest rate swap
 
Interest Expense
 
$
(968
)
 
$
(44
)
 
N/A
For the Year Ended December 31, 2011
 
 
 
 

 
 

 
 
Cash flow interest rate swap
 
Interest Expense
 
$
(1,553
)
 
$
(180
)
 
N/A

 
 
 
 
Amount of Gain or (Loss)
Recognized in Income on Derivative
 
 
Location of Gain or
(Loss) Recognized in
Income on Derivative
 
For the Years Ended December 31,
Derivatives not Designated in Hedging Relationships
 
2012
 
2011
 
2010
Foreign Exchange Contracts
 
Other Expense
 
$
(8,920
)
 
$
17,406

 
$
(1,010
)
Schedule of foreign currency derivatives outstanding
The following table presents the Company's foreign currency derivatives outstanding as of December 31, 2012 ($ in thousands):

Derivative Type
 
Notional
Amount
 
Notional
(USD Equivalent)
 
Maturity
Sells EUR/Buys USD Forward
 
€
109,000

 
$
143,925

 
January 2013
Sells GBP/Buys USD Forward
 
£
52,850

 
$
85,856

 
January 2013
Sells CAD/Buys USD Forward
 
C$
50,700

 
$
51,065

 
January 2013