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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income (loss) $ 35,028 $ (15,372)
Adjustments to reconcile net income to cash flows from operating activities:    
Recovery of loan losses (855) (4,928)
Impairment of assets 4,100 4,413
Depreciation and amortization 11,110 13,067
Non-cash expense for stock-based compensation 9,091 5,881
Amortization of discounts/premiums and deferred financing costs on debt obligations, net 3,943 3,512
Amortization of discounts/premiums on loans and deferred interest on loans, net (9,067) (14,652)
Deferred interest on loans received 17,930 1
Earnings from equity method investments (3,332) (5,702)
Distributions from operations of other investments 3,101 20,029
Deferred operating lease income (2,239) (2,185)
Income from sales of real estate (17,048) (8,618)
Land development revenue in excess of cost of sales [1] (17,048) (8,110)
Loss on early extinguishment of debt, net 372 210
Other operating activities, net 865 3,689
Changes in assets and liabilities:    
Changes in accrued interest and operating lease income receivable 617 2,131
Changes in deferred expenses and other assets, net (2,016) (8,035)
Changes in accounts payable, accrued expenses and other liabilities (45,144) (24,987)
Cash flows provided by (used in) operating activities (46,566) (35,686)
Cash flows from investing activities:    
Originations and fundings of loans receivable, net (103,288) (61,605)
Capital expenditures on real estate assets (7,840) (7,781)
Capital expenditures on land and development assets (30,954) (27,604)
Repayments of and principal collections on loans receivable and other lending investments, net 114,525 171,066
Net proceeds from sales of real estate 48,469 30,215
Net proceeds from sales of land and development assets 130,304 20,923
Distributions from other investments 17,813 4,709
Contributions to and acquisition of interest in other investments (43,391) (1,813)
Other investing activities, net 491 1,801
Cash flows provided by investing activities 126,129 129,911
Cash flows from financing activities:    
Borrowings from debt obligations and convertible notes 0 854,637
Repayments and repurchases of debt obligations (349,658) (353,458)
Preferred dividends paid (8,124) (12,830)
Repurchase of stock (8,304) 0
Payments for deferred financing costs (252) (11,497)
Payments for withholding taxes upon vesting of stock-based compensation (3,845) (420)
Payments for debt prepayment or extinguishment costs 0 (847)
Other financing activities, net 9 (661)
Cash flows provided by (used in) financing activities (370,174) 474,924
Effect of exchange rate changes on cash 22 1
Changes in cash, cash equivalents and restricted cash (290,589) 569,150
Cash, cash equivalents and restricted cash at beginning of period 677,733 354,627
Cash, cash equivalents and restricted cash at end of period 387,144 923,777
Supplemental disclosure of non-cash investing and financing activity:    
Fundings and repayments of loan receivables and loan participations, net (17,117) 22,602
Accounts payable for capital expenditures on real estate assets 338 781
Acquisitions of land and development assets through foreclosure 4,600 0
Profit sharing arrangement 28,831 0
Financing provided on sales of land and development assets, net 142,639 0
Land and Development    
Adjustments to reconcile net income to cash flows from operating activities:    
Land development revenue in excess of cost of sales $ (53,022) $ (4,140)
[1] Income from sales of real estate represents gains from sales of real estate that do not qualify as discontinued operations