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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flow From Operating Activities:    
Net income (loss) $ 28,526 $ (7,350)
Adjustments to reconcile net income (loss) applicable to common shares to net cash provided by (used in) operating activities:    
(Gain) loss on sale of land (13,578) (1,032)
Gain on sale of income-producing properties   (12,760)
Depreciation and amortization 19,768 19,113
Amortization of deferred borrowing costs 1,296 2,885
Amortization of bond issuance costs 2,346 462
Earnings from unconsolidated subsidiaries and investees (802) 249
(Increase) decrease in assets:    
Accrued interest receivable 1,177 1,934
Other assets 521 12,617
Prepaid expense 1,407 (5,662)
Rent receivables (621) 543
Related party receivables (28,341) (5,665)
Increase (decrease) in liabilities:    
Accrued interest payable (3,324) 1,508
Other liabilities (19,590) 12,199
Net cash provided by (used in) operating activities (11,215) 19,041
Cash Flow From Investing Activities:    
Proceeds from notes receivables 6,541 32,738
Origination of notes receivables (14,557) (10,665)
Acquisition of land held for development   (11,440)
Proceeds from sale of income producing properties 2,706  
Proceeds from sale of land 3,649 2,446
Investment in unconsolidated real estate entities 249
Improvement of land held for development   (908)
Improvement of income producing properties (3,688) (4,499)
Construction and development of new properties (66,567) (41,489)
Net cash used in investing activities (71,916) (33,568)
Cash Flow From Financing Activities:    
Proceeds from bonds 59,213 106,583
Bond issuance costs (5,257) 6,182
Proceeds from notes payable 68,943 55,069
Recurring payment of principal on notes payable (14,443) (7,279)
Payments on maturing notes payable (16,750) (60,960)
Deferred financing costs   (833)
Preferred stock dividends - Series A (675) (825)
Net cash provided by financing activities 91,031 97,937
Net increase in cash and cash equivalents 7,900 83,410
Cash and cash equivalents, beginning of period 88,538 17,522
Cash and cash equivalents, end of period 96,438 100,932
Supplemental disclosures of cash flow information:    
Cash paid for interest 45,655 $ 39,732
Schedule of noncash investing and financing activities:    
Notes receivable received from sale of income-producing properties 1,735  
Seller financing note - acquisition of income-producing properties 1,895  
Notes payable issued on acquisition of income-producing properties $ 31,175