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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flow From Operating Activities:      
Net income (loss) $ 182,692 $ (8,876) $ (2,410)
Adjustments to reconcile net income (loss) applicable to common shares to net cash provided by (used in) operating activities:      
Gain on disposition of 50% interest in VAA (154,126)    
Gain on sale of land (17,404) (4,884) (3,121)
Gain on sale of income-producing properties   (16,698) (16,207)
Depreciation and amortization 22,670 25,679 23,785
Provision on impairment of notes receivable and real estate assets   558  
Amortization of deferred borrowing costs 4,994 3,591 4,357
Amortization of bond issuance costs 2,994 971  
Equity earnings from VAA (44)    
Earnings from other unconsolidated investees (1,469) (309) (493)
(Increase) decrease in assets:      
Accrued interest receivable (33,279) (581) (1,151)
Other assets (86,796) 11,751 (2,343)
Prepaid expense 19,125 (15,192) (9,222)
Rent receivables (3,213) (425) 2,844
Related party receivables (11,894) (12,871) (706)
Increase (decrease) in liabilities:      
Accrued interest payable (2,316) 4,599 3,475
Other liabilities (94,266) (17,439) 10,340
Net cash (used in) provided by operating activities (172,332) (30,126) 10,134
Cash Flow From Investing Activities:      
Proceeds from disposition of 50% interest in VAA 236,752    
Proceeds from notes receivables 6,541 30,233 6,532
Origination of notes receivables (16,801) (15,741) (11,703)
Acquisition of land held for development     (12,508)
Acquisition of income producing properties (10,558) (37,044) (79,736)
Proceeds from sale of income producing properties 4,889 4,623 21,850
Proceeds from sale of land 11,857 6,301 29,128
Investment in unconsolidated real estate entities   (267) 2,278
Improvement of land held for development   (1,986) (3,023)
Improvement of income producing properties (3,688)   (5,998)
Sale of controlling interest     3,021
Construction and development of new properties (81,367) (76,147) (10,941)
Net cash provided by (used in) investing activities 147,625 (90,028) (61,100)
Cash Flow From Financing Activities:      
Proceeds from bonds 59,213 115,337  
Bond issuance costs (5,257) (6,887)  
Proceeds from notes payable 123,345 135,116 242,215
Recurring payment of principal on notes payable (107,866) (86,091) (22,851)
Acquisition of Series A preferred stock by consolidated subsidiary (9,000)    
Payments on maturing notes payable (16,750)   (173,160)
Deferred financing costs   (3,599) 841
Preferred stock dividends - Series A (901) (1,105) (1,101)
Net cash provided by financing activities 42,784 152,771 45,944
Net increase in cash and cash equivalents 18,077 32,617 (5,022)
Cash and cash equivalents, beginning of period 88,538 55,921 60,943
Cash and cash equivalents, end of period 106,615 88,538 55,921
Supplemental disclosures of cash flow information:      
Cash paid for interest 57,981 $ 39,732 $ 50,945
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