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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flow From Operating Activities:    
Net Loss $ (5,330) $ (1,787)
Adjustments to reconcile net income applicable to common shares to net cash flow from operating activities:    
Gain on sale of land (3,925) (7,861)
Gain on sale of income producing properties (4,925) (735)
Depreciation and amortization 16,660 16,410
Amortization of deferred borrowing costs 3,201 1,748
Earnings from unconsolidated subsidiaries and investees (430) (276)
Decrease (increase) in assets:    
Accrued interest receivable 1,881 764
Other assets 528 1,397
Prepaid expense (3,196) (12,953)
Escrow 11,537 5,845
Earnest money 449 (1,193)
Rent receivables   (1,384)
Related party receivables 13,886 (21,887)
Increase (decrease) in liabilities:    
Accrued interest payable (766) (242)
Other liabilities (1,037) (6,030)
Net cash provided by (used in) operating activities 28,533 (28,184)
Cash Flow From Investing Activities:    
Proceeds from notes receivables 6,438 27,084
Origination or advances of notes receivables (7,150) (7,655)
Acquisition of income producing properties (41,750) (131,220)
Proceeds from sale of income producing properties 9,377  
Proceeds from sale of land 7,152 12,364
Investment in unconsolidated real estate entities 2,341 (597)
Improvement of land held for development (2,486) (2,930)
Improvement of income producing properties (4,459) (7,945)
Sale of non-controlling interest   (336)
Construction and development of new properties (31,844) (5,110)
Net cash used in investing activities (62,381) (116,345)
Cash Flow From Financing Activities:    
Proceeds from notes payable 115,031 225,950
Recurring amortization of principal on notes payable (12,040) (22,202)
Debt assumption by buyer, part of seller proceeds   (18,495)
Payments on maturing notes payable (73,538) (33,860)
Deferred financing costs (2,669) (8,552)
Distributions to non-controlling interests   11
Preferred stock dividends - Series A (825) (941)
Conversion of preferred stock into common stock   2,308
Net cash provided by (used in) financing activities 25,959 144,219
Net increase (decrease) in cash and cash equivalents (7,889) (310)
Cash and cash equivalents, beginning of period 15,232 12,299
Cash and cash equivalents, end of period 7,343 11,989
Supplemental disclosures of cash flow information:    
Cash paid for interest $ 31,857 $ 9,193