Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Assets
Commercial mortgages, mezzanine loans, other loans and preferred equity interests	$ 1,090,481	$ 996,363
Allowance for losses	(39,877)	(46,082)
Total investments in mortgages and loans	1,050,604	950,281
Investments in real estate, net of accumulated depreciation of $83,037 and $69,372,respectively	911,128	891,502
Investments in securities and security-related receivables, at fair value	657,783	647,461
Cash and cash equivalents	44,265	29,720
Restricted cash	101,347	278,607
Accrued interest receivable	43,143	39,455
Other assets	44,881	39,771
Deferred financing costs, net of accumulated amortization of $13,706 and $11,613, respectively	21,050	23,178
Intangible assets, net of accumulated amortization of $2,590 and $2,337,respectively	2,376	2,629
Total assets	2,876,577	2,902,604
Liabilities and Equity
Indebtedness (including $181,527 and $144,956 at fair value, respectively)	1,785,358	1,748,274
Accrued interest payable	24,619	22,541
Accounts payable and accrued expenses	23,956	20,825
Derivative liabilities	167,155	181,499
Deferred taxes, borrowers escrows and other liabilities	30,183	15,371
Total liabilities	2,031,271	1,988,510
Shareholders' equity:
Common shares, $0.03 par value per share, 200,000,000 shares authorized, 49,905,866 and 41,289,566 issued and outstanding	1,490	1,236
Additional paid in capital	1,779,514	1,735,969
Accumulated other comprehensive income (loss)	(108,721)	(118,294)
Retained earnings (deficit)	(830,738)	(708,671)
Total shareholders equity	841,612	910,307
Noncontrolling interests	3,694	3,787
Total equity	845,306	914,094
Total liabilities and equity	2,876,577	2,902,604
7.75% Series A Cumulative Redeemable Preferred Shares
Shareholders' equity:
Preferred shares, $0.01 par value per share, 25,000,000 shares authorized	28	28
8.375% Series B Cumulative Redeemable Preferred Shares
Shareholders' equity:
Preferred shares, $0.01 par value per share, 25,000,000 shares authorized	23	23
8.875% Series C Cumulative Redeemable Preferred Shares
Shareholders' equity:
Preferred shares, $0.01 par value per share, 25,000,000 shares authorized	$ 16	$ 16