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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income (loss) $ (17,771) $ (46,651)
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
Provision for (recovery of) loan losses (6,192) [1] 15,226 [1]
Impairment of assets 6,279 550
Depreciation and amortization 37,435 34,750
Land cost of sales 7,265 0
Payments for withholding taxes upon vesting of stock-based compensation (18,266) (13,790)
Non-cash expense for stock-based compensation 5,271 9,921
Amortization of discounts/premiums and deferred financing costs on debt 9,030 10,403
Amortization of discounts/premiums and deferred interest on loans (30,129) (16,858)
(Gain) loss from sales of loans (18,995) 596
Earnings from equity method investments (27,270) (30,001)
Distributions from operations of equity method investments 10,939 10,211
Deferred operating lease income (4,950) (6,477)
Gain (Loss) on Sale of Properties 33,674 58,016
Gain from discontinued operations 0 (13,323)
Loss on early extinguishment of debt, net 24,767 13,270
Repayments and repurchases of debt—debt discount and prepayment penalty (14,387) (20,394)
Other operating activities, net 6,848 4,109
Changes in assets and liabilities:    
Changes in accrued interest and operating lease income receivable, net 606 5,763
Changes in deferred expenses and other assets, net 3,042 4,702
Changes in accounts payable, accrued expenses and other liabilities (23,325) (10,527)
Cash flows from operating activities (83,477) (106,536)
Cash flows from investing activities:    
Investment originations and fundings (319,938) (89,328)
Acquisitions of and capital expenditures on real estate assets (63,858) (56,450)
Repayments of and principal collections on loans 162,032 298,633
Net proceeds from sales of loans 56,404 79,671
Net proceeds from sales of real estate 204,236 260,937
Net proceeds from sale of other investments 0 220,281
Distributions from other investments 23,186 20,437
Contributions to other investments (30,561) (3,248)
Changes in restricted cash held in connection with investing activities 25,779 (23,133)
Other investing activities, net 1,411 908
Cash flows from investing activities 58,691 708,708
Cash flows from financing activities:    
Borrowings from debt obligations 1,323,822 1,232,259
Repayments of debt obligations (1,408,935) (1,519,101)
Preferred dividends paid (25,660) (23,360)
Proceeds from issuance of preferred stock 0 193,510
Payments of Financing Costs (17,491) (12,857)
Other financing activities, net (4,005) (13,061)
Cash flows from financing activities (132,269) (142,610)
Changes in cash and cash equivalents (157,055) 459,562
Cash and cash equivalents at beginning of period 513,568 256,344
Cash and cash equivalents at end of period $ 356,513 $ 715,906
[1] For the three and six months ended June 30, 2014, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $2.4 million and $7.6 million, respectively. For the three and six months ended June 30, 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $6.4 million and $11.0 million, respectively.