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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flow From Operating Activities:    
Net income (loss) $ 4,919 $ 3,105
Adjustments to reconcile net income applicable to common shares to net cash flow from operating activities:    
Gain on sale of land (634) (563)
Gain on sale of income-producing properties (14,826) (25,429)
Depreciation and amortization 13,763 16,120
Provision on impairment of notes receivable and real estate assets 0 1,926
Amortization of deferred borrowing costs 2,415 3,705
(Earnings) losses from unconsolidated subsidiaries and investees 54 (256)
Decrease (increase) in assets:    
Accrued interest receivable 10,727 (3,260)
Other assets 2,002 (17)
Prepaid expense (2,318) (1,937)
Escrow 3,556 6,074
Earnest money (5) 1,545
Rent receivables (15) (676)
Increase (decrease) in liabilities:    
Accrued interest payable 43 (1,752)
Payable to related parties (8,844) (2,492)
Other liabilities (17,294) (9,027)
Net cash used in operating activities (6,457) (12,934)
Cash Flow From Investing Activities:    
Proceeds from notes receivable 0 2,855
Origination or advances of notes receivable (20,798) (38)
Acquisition of land held for development (3,425) (7)
Acquisition of income producing properties (19,534) 0
Proceeds from sale of income-producing properties 41,666 73,621
Proceeds from sale of land 6,252 3,664
Investment in unconsolidated real estate entities (402) (1,911)
Improvement of land held for development (1,654) (373)
Improvement of income-producing properties (3,625) (6,396)
Acquisition of non-controlling interest 0 (77)
Sale of non-controlling interest (289) 0
Sale of controlling interest 0 50
Construction and development of new properties (1,026) (327)
Net cash provided by (used in) investing activities (2,835) 71,061
Cash Flow From Financing Activities:    
Proceeds from notes payable 110,308 142,802
Recurring amortization of principal on notes payable (14,540) (13,401)
Payments on maturing notes payable (97,564) (191,291)
Stock-secured borrowings (568) (411)
Deferred financing costs (5,707) (1,524)
Distributions to non-controlling interests (257) (179)
Preferred stock dividends - Series A (1,653) (1,839)
Conversion of preferred stock into common stock 7,219 0
Net cash used in financing activities (2,762) (65,843)
Net decrease in cash and cash equivalents (12,054) (7,716)
Cash and cash equivalents, beginning of period 16,437 17,141
Cash and cash equivalents, end of period 4,383 9,425
Supplemental disclosures of cash flow information:    
Cash paid for interest $ 28,004 $ 22,659