Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Cash flows from operating activities:
Net (loss) income	$ (1,597)	$ 140,622
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Net impairments recognized in earnings		160
Recovery of provision for loan losses		(8)
Valuation allowance on loans held-for-sale	200
Fair value adjustment on investment in CT Legacy Asset		(3,954)
Gain on deconsolidation of subsidiary		(146,380)
Income from equity investments in unconsolidated subsidiaries		(696)
Distributions of income from unconsolidated subsidiaries		61
Employee stock-based compensation		129
Incentive awards plan expense	963	(282)
Deferred directors' compensation	38	56
Distributions from CT Legacy Asset		1,830
Amortization of premiums/discounts on loans and securities and deferred interest on loans		(171)
Amortization of deferred gains and losses on settlement of swaps		(56)
Amortization of deferred financing costs and premiums/discounts on debt obligations	174	8,813
Loss on interest rate swaps not designated as cash flow hedges		2,772
Changes in assets and liabilities, net:
Accrued interest receivable	432	(2,999)
Deferred income taxes		(1,423)
Prepaid expenses and other assets	812	2,986
Accounts payable and accrued expenses	(266)	(182)
Net cash provided by operating activities	756	1,278
Cash flows from investing activities:
Principal collections and proceeds from securities		21,496
Principal collections of loans receivable	1,135	83,000
Contributions to unconsolidated subsidiaries		(324)
Distributions from unconsolidated subsidiaries		677
Decrease in restricted cash	1,527	473
Net cash provided by investing activities	2,662	105,322
Cash flows from financing activities:
Borrowings under repurchase obligations		123,977
Repayments under repurchase obligations		(58,464)
Repayments under mezzanine loan		(63,000)
Repayment of securitized debt obligations	(2,239)	(106,729)
Purchase of and distribution to noncontrolling interests	(1,097)
Redemption of noncontrolling interests	(144)
Vesting of restricted Class A common stock		(4)
Net cash used in financing activities	(3,480)	(104,220)
Net (decrease) increase in cash and cash equivalents	(62)	2,380
Cash and cash equivalents at beginning of period	15,423	34,818
Cash and cash equivalents at end of period	$ 15,361	$ 37,198