Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Investments in mortgages and loans, at amortized cost:
Commercial mortgages, mezzanine loans, other loans and preferred equity interests	$ 1,161,766	$ 1,075,129
Allowance for losses	(24,222)	(30,400)
Total investments in mortgages and loans	1,137,544	1,044,729
Investments in real estate, net of accumulated depreciation of $112,325 and $97,392, respectively	949,649	918,189
Investments in securities and security-related receivables, at fair value	603,173	655,509
Cash and cash equivalents	60,401	100,041
Restricted cash	99,119	90,641
Accrued interest receivable	51,331	47,335
Other assets	54,171	45,459
Deferred financing costs, net of accumulated amortization of $17,080 and $15,811, respectively	17,863	19,734
Intangible assets, net of accumulated amortization of $3,277 and $2,976, respectively	2,324	2,343
Total assets	2,975,575	2,923,980
Liabilities and Equity
Indebtedness ($316,620 and $216,703 at fair value, respectively)	1,919,620	1,799,595
Accrued interest payable	25,867	24,129
Accounts payable and accrued expenses	26,252	22,990
Derivative liabilities	123,458	151,438
Deferred taxes, borrowers' escrows and other liabilities	52,951	35,704
Total liabilities	2,148,148	2,033,856
Series D cumulative redeemable preferred shares, $0.01 par value per share, 4,000,000 shares authorized, 2,600,000 shares issued and outstanding	51,282	52,278
Shareholders' equity:
Common shares, $0.03 par value per share, 200,000,000 shares authorized, 69,960,454 and 58,913,142 issued and outstanding, including 391,268 unvested restricted common share awards at June 30, 2013	2,100	1,760
Additional paid in capital	1,929,797	1,837,389
Accumulated other comprehensive income (loss)	(77,527)	(95,173)
Retained earnings (deficit)	(1,083,924)	(910,086)
Total shareholders' equity	770,523	833,961
Noncontrolling interests	5,622	3,885
Total equity	776,145	837,846
Total liabilities and equity	2,975,575	2,923,980
7.75% Series A cumulative redeemable preferred shares
Shareholders' equity:
Preferred shares, $0.01 par value per share, 25,000,000 shares authorized	37	31
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	17	17
Series E cumulative redeemable preferred shares
Shareholders' equity:
Preferred shares, $0.01 par value per share, 25,000,000 shares authorized	$ 0	$ 0