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Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income (loss) $ (6,970,000) $ 35,028,000
Adjustments to reconcile net income to cash flows from operating activities:    
Recovery of loan losses (97,000) (855,000)
Impairment of assets 3,851,000 4,100,000
Depreciation and amortization 15,668,000 11,110,000
Stock-based compensation expense 4,249,000 9,091,000
Amortization of discounts/premiums and deferred financing costs on debt obligations, net 3,616,000 3,943,000
Amortization of discounts/premiums and deferred interest on loans, net (9,853,000) (9,067,000)
Deferred interest on loans received 5,850,000 17,930,000
Earnings from equity method investments (5,309,000) (3,332,000)
Distributions from operations of other investments 1,389,000 3,101,000
Deferred operating lease income (4,222,000) (2,239,000)
Income from sales of real estate (9,407,000) (17,048,000)
Land development revenue in excess of cost of sales 1,750,000 (53,022,000)
Loss on early extinguishment of debt, net 468,000 372,000
Other operating activities, net (181,000) 865,000
Changes in assets and liabilities:    
Changes in accrued interest and operating lease income receivable (954,000) 617,000
Changes in deferred expenses and other assets, net (1,512,000) (2,016,000)
Changes in accounts payable, accrued expenses and other liabilities (44,869,000) (45,144,000)
Cash flows used in operating activities (46,533,000) (46,566,000)
Cash flows from investing activities:    
Originations and fundings of loans receivable, net (58,318,000) (103,288,000)
Capital expenditures on real estate assets (5,184,000) (7,840,000)
Capital expenditures on land and development assets (37,762,000) (30,954,000)
Acquisitions of real estate assets (109,663,000) 0
Repayments of and principal collections on loans receivable and other lending investments, net 157,915,000 114,525,000
Net proceeds from sales of real estate 58,529,000 48,469,000
Net proceeds from sales of land and development assets 11,455,000 130,304,000
Distributions from other investments 46,778,000 17,813,000
Contributions to and acquisition of interest in other investments (260,297,000) (43,391,000)
Other investing activities, net (16,685,000) 491,000
Cash flows provided by (used in) investing activities (213,232,000) 126,129,000
Cash flows from financing activities:    
Borrowings from debt obligations 63,500,000 0
Repayments and repurchases of debt obligations (379,797,000) (349,658,000)
Preferred dividends paid (8,124,000) (8,124,000)
Common dividends paid (6,127,000) 0
Repurchase of stock (15,328,000) (8,304,000)
Payments for deferred financing costs 0 (252,000)
Payments for withholding taxes upon vesting of stock-based compensation (1,842,000) (3,845,000)
Distributions to noncontrolling interests (3,255,000) 0
Other financing activities, net 0 9,000
Cash flows used in financing activities (350,973,000) (370,174,000)
Effect of exchange rate changes on cash 8,000 22,000
Changes in cash, cash equivalents and restricted cash (610,730,000) (290,589,000)
Cash, cash equivalents and restricted cash at beginning of period 974,544,000 677,733,000
Cash, cash equivalents and restricted cash at end of period 363,814,000 387,144,000
Supplemental disclosure of non-cash investing and financing activity:    
Fundings and repayments of loan receivables and loan participations, net 2,502,000 (17,117,000)
Accrued repurchase of stock 3,841,000 0
Contributions of land and development assets to equity method investments, net 4,073,000 0
Accounts payable for capital expenditures on real estate assets 0 338,000
Developer fee payable 0 28,831,000
Acquisitions of land and development assets through foreclosure 0 4,600,000
Financing provided on sales of land and development assets, net $ 0 $ 142,639,000