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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 180,635 $ 50,487
Adjustments to reconcile net income to cash flows from operating activities:    
(Recovery of) provision for loan losses (5,528) 2,206
Impairment of assets 14,696 3,012
Depreciation and amortization 26,352 29,182
Non-cash expense for stock-based compensation 9,796 6,211
Amortization of discounts/premiums and deferred financing costs on debt obligations, net 6,615 8,901
Amortization of discounts/premiums on loans, net (6,978) (7,237)
Deferred interest on loans, net (1,290) 4,631
Gain from discontinued operations (123,418) 0
Earnings from equity method investments (11,217) (47,714)
Distributions from operations of other investments 35,502 31,479
Deferred operating lease income (3,204) (4,993)
Income from sales of real estate (9,462) (53,943)
Land development revenue in excess of cost of sales [1] (8,954) (53,943)
Loss on early extinguishment of debt, net 775 1,582
Debt discount on repayments of debt obligations (5,745) (5,369)
Other operating activities, net 9,770 2,651
Changes in assets and liabilities:    
Changes in accrued interest and operating lease income receivable, net 2,881 4,436
Changes in deferred expenses and other assets, net (6,821) 1,677
Changes in accounts payable, accrued expenses and other liabilities 3,941 (13,052)
Cash flows provided by operating activities 102,916 150
Cash flows from investing activities:    
Originations and fundings of loans receivable, net (130,701) (158,262)
Capital expenditures on real estate assets (16,346) (35,674)
Capital expenditures on land and development assets (53,894) (58,961)
Acquisitions of real estate assets 0 (3,915)
Repayments of and principal collections on loans receivable and other lending investments, net 367,028 202,014
Net proceeds from sales of real estate 154,291 247,956
Net proceeds from sales of land and development assets 146,713 33,660
Net proceeds from sales of other investments 0 39,810
Distributions from other investments 11,275 8,632
Contributions to other investments (139,139) (8,283)
Changes in restricted cash held in connection with investing activities 1,757 3,220
Other investing activities, net 5,317 (5,677)
Cash flows provided by investing activities 346,301 264,520
Cash flows from financing activities:    
Borrowings from debt obligations 854,637 646,401
Repayments and repurchases of debt obligations (626,492) (991,184)
Proceeds from loan participations payable 0 22,844
Preferred dividends paid (25,660) (25,660)
Repurchase of stock 0 (90,481)
Payments for deferred financing costs (12,243) (8,003)
Payments for withholding taxes upon vesting of stock-based compensation (511) (1,203)
Other financing activities, net (13,420) (7,144)
Cash flows provided by (used in) financing activities 176,311 (454,430)
Effect of exchange rate changes on cash 7 22
Changes in cash and cash equivalents 625,535 (189,738)
Cash and cash equivalents at beginning of period 328,744 711,101
Cash and cash equivalents at end of period 954,279 521,363
Supplemental disclosure of non-cash investing and financing activity:    
Fundings and repayments of loan receivables and loan participations, net (52,406) 12,267
Accounts payable for capital expenditures on land and development assets 2,984 5,575
Accounts payable for capital expenditures on real estate assets 1,488 0
Receivable from sales of real estate and land parcels 3,139 1,741
Developer fee payable 0 6,438
Accruals for repurchase of stock 0 2,260
Land and Development    
Adjustments to reconcile net income to cash flows from operating activities:    
Land development revenue in excess of cost of sales $ (14,384) $ (13,997)
[1] Income from sales of real estate represents gains from sales of real estate that do not qualify as discontinued operations.