Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities:
Net income (loss)	$ (138,423)	$ 15,902
Adjustments to reconcile net income (loss) to cash flow from operating activities:
Provision for loan losses	22,398	2,669
Share-based compensation expense	1,054	2,607
Depreciation and amortization expense	17,573	47,082
Amortization of deferred financing costs and debt discounts	7,399	11,070
Deferral of loan origination fees and costs, net	1,233	(2,059)
Amortization of above/below market leases	(573)	(803)
(Gains) losses on assets	(22,765)	(37,881)
(Gains) losses on extinguishments of debt	(1,588)	(446)
Losses on deconsolidation of properties	15,947
(Gains) on IRT merger with TSRE	0	(91)
Asset impairment	93,233	7,786
Goodwill impairment	8,342
Change in fair value of financial instruments	(1,940)	5,680
Provision (benefit) for deferred taxes	22	(2,841)
Changes in assets and liabilities:
Decrease in accrued interest receivable	4,132	5,195
Decrease (increase) in other assets	3,749	(902)
Increase in accrued interest payable	1,840	2,561
(Decrease) in accounts payable and accrued expenses	(3,456)	(7,164)
(Decrease) increase in other liabilities	(1,433)	1,807
Origination of conduit loans		(13,800)
Sales of conduit loans		21,377
Net conduit loans (originated) sold		7,577
Cash flows provided by operating activities	6,744	57,749
Investing activities:
Origination of loans for investment	(263,464)	(55,584)
Principal repayments on loans	274,615	175,016
Investments in real estate	(3,630)	(15,250)
IRT's acquisition of TSRE, net of cash acquired		91
Proceeds from the disposition of real estate	143,409	127,405
(Increase) decrease in restricted cash	(8,789)	30,650
Cash flows provided by investing activities	142,141	262,328
Financing activities:
Repayments on secured credit facilities and loans payable on real estate	(667)	(242,755)
Proceeds from secured credit facilities, term loans and loans payable on real estate		199,480
Repayments and repurchase of CDO notes payable and floating rate securitizations	(369,346)	(322,887)
Net proceeds from issuance of CDO notes and floating rate securitizations	276,894	22,559
Repayments of senior secured notes	(46,500)	(4,000)
Net proceeds (repayments) related to conduit loan repurchase agreements		(10,495)
Net proceeds related to floating rate loan repurchase agreements	4,287	52,405
Proceeds from issuance of other indebtedness	17,022	24,796
Distribution to noncontrolling interests	(1,702)	(15,507)
Issuance of noncontrolling interests	66	448
Payments for deferred costs	(4,415)	(2,040)
Common share issuance, net of costs incurred	(1,017)	(945)
Repurchase of Series D preferred shares	(10,057)
Distributions paid to preferred shareholders	(17,937)	(15,795)
Distributions paid to common shareholders	(16,727)	(16,728)
Cash flows (used in) financing activities	(170,099)	(379,078)
Repurchase of convertible notes and senior notes		(47,614)
Net change in cash and cash equivalents	(21,214)	(59,001)
Net change in cash and cash equivalents from discontinued operations	0	(10,146)
Net change in cash and cash equivalents from continuing operations	(21,214)	(48,855)
Cash and cash equivalents at the beginning of the period	110,531	87,581
Cash and cash equivalents at the end of the period	$ 89,317	$ 38,726