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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income (loss) $ (111,233) $ (241,430) $ (25,693)
Adjustments to reconcile net income (loss) to cash flows from operating activities:      
Provision for loan losses 5,489 81,740 [1] 46,412 [1]
Impairment of assets 14,507 38,077 22,386
Loss on transfer of interest to unconsolidated subsidiary 7,373 0 0
Depreciation and amortization 71,530 70,786 63,928
Payments for withholding taxes upon vesting of stock-based compensation (14,098) (12,589) (6,273)
Non-cash expense for stock-based compensation 19,261 15,293 29,702
Amortization of discounts/premiums and deferred financing costs on debt 20,915 31,981 32,345
Amortization of discounts/premiums and deferred interest on loans (36,787) (47,279) (62,194)
Earnings from equity method investments (41,520) (103,009) (95,091)
Distributions from operations of equity method investments 17,252 105,586 85,766
Deferred operating lease income (12,077) (11,812) (9,390)
Deferred income taxes 0 0 (13,729)
Income from sales of residential property (86,658) (63,472) (5,721)
Gain from discontinued operations (22,233) (27,257) (25,110)
(Gain) loss on early extinguishment of debt, net 19,655 22,405 (97,742)
Repayments and repurchases of debt—debt discount and prepayment penalty (24,001) (74,712) (5,748)
Other operating activities, net 6,917 9,427 6,492
Changes in assets and liabilities:      
Changes in accrued interest and operating lease income receivable, net 2,310 1,337 4,793
Changes in deferred expenses and other assets, net (23,012) 1,271 20,580
Changes in accounts payable, accrued expenses and other liabilities 5,945 11,725 5,710
Cash flows from operating activities (180,465) (191,932) (28,577)
Cash flows from investing activities:      
Investment originations and fundings (257,600) (47,603) (120,333)
Acquisitions of and capital expenditures on real estate assets (211,767) (92,820) (64,169)
Repayments of and principal collections on loans 613,615 728,657 1,208,403
Net proceeds from sales of loans 81,614 56,998 95,859
Net proceeds from sales of real estate 437,817 562,705 215,930
Net proceeds from sale of other investments 220,281 0 0
Distributions from other investments 36,918 78,238 188,467
Contributions to other investments (12,784) (10,640) (41,820)
Changes in restricted cash held in connection with investing activities (19,388) (5,127) (20,042)
Other investing activities, net 4,741 (3,361) (1,038)
Cash flows from investing activities 893,447 1,267,047 1,461,257
Cash flows from financing activities:      
Borrowings from debt obligations 1,444,565 3,498,794 3,037,825
Repayments of debt obligations (1,984,102) (4,608,133) (4,464,254)
Payments for deferred financing costs (17,539) (21,662) (35,545)
Preferred dividends paid (49,020) (42,320) (42,320)
Proceeds from issuance of preferred stock 193,510 0 0
Purchase of treasury stock (20,985) (4,628) (78,849)
Other financing activities, net (22,187) 2,352 2,424
Cash flows from financing activities (455,758) (1,175,597) (1,580,719)
Changes in cash and cash equivalents 257,224 (100,482) (148,039)
Cash and cash equivalents at beginning of period 256,344 356,826 504,865
Cash and cash equivalents at end of period 513,568 256,344 356,826
Cash paid during the period for interest, net of amount capitalized $ 237,457 $ 329,546 $ 322,601
[1] For the years ended December 31, 2013, 2012 and 2011, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $63.1 million, $4.6 million and $23.6 million, respectively.