Consolidated Statements Of Operations (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Revenue:
Interest income	$ 132,351	$ 153,955	$ 381,979
Rental income	91,880	72,373	44,637
Fee and other income	9,923	18,242	26,498
Total revenue	234,154	244,570	453,114
Expenses:
Interest expense	89,649	96,690	261,824
Real estate operating expense	55,285	51,276	35,179
Compensation expense	23,993	28,732	27,578
General and administrative expense	17,380	18,232	21,770
Provision for losses	3,900	38,307	226,567
Asset impairments	0	0	46,015
Depreciation and amortization expense	29,490	28,654	21,122
Total expenses	219,697	261,891	640,055
Operating Income	14,457	(17,321)	(186,941)
Interest and other income (expense)	348	472	5,161
Gains (losses) on sale of assets	6,353	11,626	(376,751)
Gains (losses) on extinguishment of debt	15,001	71,575	115,869
Change in fair value of financial instruments	(75,154)	45,840	1,563
Income (loss) before taxes and discontinued operations	(38,995)	112,192	(441,099)
Income tax benefit (provision)	538	(1,602)	958
Income (loss) from continuing operations	(38,457)	110,590	(440,141)
Income (loss) from discontinued operations	747	323	(840)
Net income (loss)	(37,710)	110,913	(440,981)
Income (loss) allocated to preferred shares	(13,649)	(13,641)	(13,641)
Income (loss) allocated to noncontrolling interests	229	880	13,419
Net income (loss) allocable to common shares	$ (51,130)	$ 98,152	$ (441,203)
Earnings (loss) per share-Basic:
Continuing operations	$ (1.35)	$ 3.38	$ (20.26)
Discontinued operations	$ 0.02	$ 0.01	$ (0.04)
Total earnings (loss) per share-Basic	$ (1.33)	$ 3.39	$ (20.30)
Weighted-average shares outstanding-Basic	38,508,086	28,951,422	21,735,078
Earnings (loss) per share-Diluted:
Continuing operations	$ (1.35)	$ 3.33	$ (20.26)
Discontinued operations	$ 0.02	$ 0.01	$ (0.04)
Total earnings (loss) per share-Diluted	$ (1.33)	$ 3.34	$ (20.30)
Weighted-average shares outstanding-Diluted	38,508,086	29,417,337	21,735,078
Dividends declared per common share	$ 0.27	$ 0.00	$ 0.00