Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities:
Net income (loss)	$ 15,902	$ 26,707
Adjustments to reconcile net income (loss) to cash flow from operating activities:
Provision for loan losses	2,669	4,000
Share-based compensation expense	2,607	2,394
Depreciation and amortization	47,082	36,031
Amortization of deferred financing costs and debt discounts	11,070	9,458
Deferral of loan origination costs, net	(2,059)	(1,682)
Amortization of above/below market leases	(803)	(317)
(Gains) losses on assets	(37,881)	(17,281)
(Gains) losses on extinguishment of debt	(446)
(Gains) on IRT merger with TSRE	(91)
Asset impairment	7,786
Change in fair value of financial instruments	5,680	(12,846)
Provision (benefit) for deferred taxes	(2,841)	(897)
Changes in assets and liabilities:
Decrease (increase) in accrued interest receivable	5,195	(2,956)
(Increase) in other assets	(902)	(2,649)
Increase in accrued interest payable	2,561	2,459
(Decrease) in accounts payable and accrued expenses	(7,164)	(1,609)
Increase in other liabilities	1,807	1,175
Origination of conduit loans	(13,800)	(251,959)
Sales of conduit loans	21,377	223,298
Net conduit loans (originated) sold	7,577	(28,661)
Cash flows provided by (used in) operating activities	57,749	13,326
Investing activities:
Proceeds from sales or repayments of other securities		31,241
Origination of loans for investment	(55,584)	(191,892)
Principal repayments on loans	175,016	130,504
Investments in real estate	(15,250)	(37,500)
IRT's acquisition of TSRE, net of cash acquired	91
Proceeds from the disposition of real estate	127,405	20,596
(Increase) decrease in restricted cash	30,650	(21,562)
Cash flows provided by (used in) investing activities	262,328	(68,613)
Financing activities:
Repayments on secured credit facilities and loans payable on real estate	(242,755)	(20,640)
Proceeds from secured credit facilities, term loans and loans payable on real estate	199,480	58,275
Repayments and repurchase of CDO notes payable and floating rate transactions	(322,887)	(120,194)
Proceeds from issuance of senior notes from floating rate CMBS transactions	22,559	181,215
Repurchase of convertible notes and senior notes	(47,614)
Repayments of senior secured notes	(4,000)	(4,000)
Net proceeds (repayments) related to conduit loan repurchase agreements	(10,495)	7,277
Net proceeds (repayments) related to floating rate loan repurchase agreements	52,405	(14,587)
Proceeds from issuance of joint venture interests accounted for as indebtedness	24,796
Distribution to noncontrolling interests	(15,507)	(9,694)
Issuance of noncontrolling interests	448
Payments for deferred costs and convertible senior note hedges	(2,040)	(4,466)
Financing commitment fee		(4,000)
Preferred share issuance, net of costs incurred		12,676
Common share issuance, net of costs incurred	(945)	(1,140)
Distributions paid to preferred shareholders	(15,795)	(12,872)
Distributions paid to common shareholders	(16,728)	(29,517)
Cash flows (used in) provided by financing activities	(379,078)	38,333
Net change in cash and cash equivalents	(59,001)	(16,954)
Cash and cash equivalents at the beginning of the period	125,886	121,726
Cash and cash equivalents at the end of the period	$ 66,885	$ 104,772