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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ 108,642 $ (26,131)
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
(Recovery of) provision for loan losses (12,749) 30,944
Impairment of assets 11,753 5,590
Depreciation and amortization 42,184 49,804
Payments for withholding taxes upon vesting of stock-based compensation (1,203) (1,683)
Non-cash expense for stock-based compensation 7,644 10,066
Amortization of discounts/premiums and deferred financing costs on debt obligations, net 12,954 12,745
Amortization of discounts/premiums on loans, net (10,835) (8,688)
Deferred interest on loans, net (5,632) (43,915)
Earnings from equity method investments (74,254) (25,904)
Distributions from operations of other investments 44,893 13,487
Deferred operating lease income (7,340) (5,374)
Income from sales of real estate (88,387) (66,021)
Land development revenue in excess of cost of sales (88,387) (66,021)
Loss on early extinguishment of debt, net 1,618 279
Debt discount on repayments of debt obligations (5,369) (576)
Other operating activities, net 4,115 3,492
Changes in assets and liabilities:    
Changes in accrued interest and operating lease income receivable, net 5,715 834
Changes in deferred expenses and other assets, net (14,194) 97
Changes in accounts payable, accrued expenses and other liabilities (11,773) (29,737)
Cash flows used in operating activities (15,765) (86,964)
Cash flows from investing activities:    
Originations and fundings of loans receivable, net (226,012) (435,700)
Capital expenditures on real estate assets (55,385) (57,419)
Capital expenditures on land and development assets (87,891) (65,169)
Acquisitions of real estate assets (4,740) 0
Repayments of and principal collections on loans receivable and other lending investments, net 243,780 238,468
Net proceeds from sales of loans receivable 0 6,655
Net proceeds from sales of real estate 412,335 281,346
Net proceeds from sales of land and development assets 64,159 29,390
Net proceeds from sales of other investments 39,810 0
Distributions from other investments 25,795 93,156
Contributions to other investments (45,635) (9,304)
Changes in restricted cash held in connection with investing activities (603) (9,065)
Other investing activities, net (14,265) 12,347
Cash flows provided by (used in) investing activities 351,348 84,705
Cash flows from financing activities:    
Borrowings from debt obligations 696,401 549,000
Repayments and repurchases of debt obligations (1,065,253) (430,048)
Proceeds from loan participations payable 22,844 138,075
Preferred dividends paid (38,490) (38,490)
Repurchase of stock (99,335) (19,004)
Redemption of HPUs 0 (9,811)
Payments for deferred financing costs (8,930) (2,255)
Other financing activities, net (6,427) (939)
Cash flows (used in) provided by financing activities (499,190) 186,528
Effect of exchange rate changes on cash 16 412
Changes in cash and cash equivalents (163,591) 184,681
Cash and cash equivalents at beginning of period 711,101 472,061
Cash and cash equivalents at end of period 547,510 656,742
Supplemental disclosure of non-cash investing and financing activity:    
Fundings of loan receivables (loan participations) 31,030 10,001
Developer fee payable 9,478 6,543
Deed-in-lieu transfers 9,083 13,424
Accounts payable for capital expenditures on land and development assets 3,187 3,543
Accounts payable for capital expenditures on real estate assets 0 5,669
Redemption of HPUs 0 15,240
Repurchase of stock 0 1,298
Land and Development    
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
Land development revenue in excess of cost of sales $ (23,547) $ (6,273)