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Segment Reporting (Schedule of Segments) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
segments
Jun. 30, 2013
Dec. 31, 2013
Segment Reporting          
Number of reportable segments     4    
Operating lease income $ 60,967 $ 57,112 $ 123,075 $ 115,128  
Interest income 35,127 29,682 63,041 54,349  
Other income 29,262 13,125 43,846 24,544  
Land sales revenue 4,487 0 8,630 0  
Total revenues 129,843 99,919 238,592 194,021  
Earnings (loss) from equity method investments 24,093 8,323 27,270 30,001  
Income from sales of residential property 17,180 34,319 33,674 58,016  
Income (loss) from discontinued operations(4)   502 [1]   1,844 [1]  
Gain from discontinued operations 0 8,279 0 13,323  
Revenue and other earnings 171,116 151,342 299,536 297,205  
Real estate expense (40,554) (36,981) (83,167) (74,815)  
Land cost of sales (3,611) 0 (7,265) 0  
Other expense (4,690) (146) (4,911) (5,770)  
Allocated interest expense (56,530) (69,157) [2] (113,986) (140,723) [2]  
Allocated general and administrative(2) (23,427) [3] (16,157) [3] (41,140) [3] (32,802) [3]  
Segment profit (loss)(3) 42,304 [4] 28,901 [4] 49,067 [4] 43,095 [4]  
Provision for (recovery of) loan losses (2,792) [5] 5,020 [5] (6,192) [5] 15,226 [5]  
Impairment of assets 3,300 427 [2] 6,279 395 [2]  
Depreciation and amortization 18,822 17,400 [2] 37,435 34,854 [2]  
Capitalized expenditures 32,138 31,346 60,179 47,660  
Real estate, at cost 3,184,770   3,184,770   3,220,634
Less: accumulated depreciation (443,380)   (443,380)   (424,453)
Real estate, net 2,741,390   2,741,390   2,796,181
Real estate available and held for sale 354,814   354,814   360,517
Total real estate 3,096,204   3,096,204   3,156,698
Loans receivable and other lending investments, net 1,456,407 [6]   1,456,407 [6]   1,370,109 [6]
Other investments 241,561   241,561   207,209
Total portfolio assets 4,794,172   4,794,172   4,734,016
Cash and other assets 679,313   679,313   907,995
Total assets 5,473,485   5,473,485   5,642,011
Stock-based compensation expense 3,196 4,719 5,271 9,921  
LNR Property LLC (LNR)
         
Segment Reporting          
Earnings (loss) from equity method investments 0 1,719 0 16,465  
Operating Segments | Real Estate Finance
         
Segment Reporting          
Operating lease income 0 0 0 0  
Interest income 35,127 29,682 63,041 54,349  
Other income 19,043 290 19,442 2,498  
Land sales revenue 0   0    
Total revenues 54,170 29,972 82,483 56,847  
Earnings (loss) from equity method investments 0 0 0 0  
Income from sales of residential property 0 0 0 0  
Income (loss) from discontinued operations(4)   0 [1]   0 [1]  
Gain from discontinued operations   0   0  
Revenue and other earnings 54,170 29,972 82,483 56,847  
Real estate expense 0 0 0 0  
Land cost of sales 0   0    
Other expense (303) (414) (733) (1,857)  
Allocated interest expense (15,858) (18,470) [2] (31,310) (39,532) [2]  
Allocated general and administrative(2) (4,444) [3] (2,895) [3] (7,534) [3] (6,135) [3]  
Segment profit (loss)(3) 33,565 [4] 8,193 [4] 42,906 [4] 9,323 [4]  
Provision for (recovery of) loan losses (2,792) 5,020 (6,192) 15,226  
Impairment of assets 0 0 [2] 0 0 [2]  
Depreciation and amortization 0 0 [2] 0 0 [2]  
Capitalized expenditures 0 0 0 0  
Real estate, at cost 0   0   0
Less: accumulated depreciation 0   0   0
Real estate, net 0   0   0
Real estate available and held for sale 0   0   0
Total real estate 0   0   0
Loans receivable and other lending investments, net 1,456,407   1,456,407   1,370,109
Other investments 0   0   0
Total portfolio assets 1,456,407   1,456,407   1,370,109
Operating Segments | Net Lease
         
Segment Reporting          
Operating lease income 37,674 35,783 76,555 72,436  
Interest income 0 0 0 0  
Other income 519 0 733 0  
Land sales revenue 0   0    
Total revenues 38,193 35,783 77,288 72,436  
Earnings (loss) from equity method investments 862 652 1,148 1,338  
Income from sales of residential property 0 0 0 0  
Income (loss) from discontinued operations(4)   392 [1]   1,001 [1]  
Gain from discontinued operations   3,365   3,395  
Revenue and other earnings 39,055 40,192 78,436 78,170  
Real estate expense (5,520) (5,673) (11,194) (11,269)  
Land cost of sales 0   0    
Other expense 0 0 0 0  
Allocated interest expense (18,009) (20,079) [2] (36,619) (40,069) [2]  
Allocated general and administrative(2) (5,183) [3] (3,158) [3] (8,982) [3] (6,217) [3]  
Segment profit (loss)(3) 10,343 [4] 11,282 [4] 21,641 [4] 20,615 [4]  
Provision for (recovery of) loan losses 0 0 0 0  
Impairment of assets 0 0 [2] 2,979 0 [2]  
Depreciation and amortization 9,682 9,589 [2] 19,810 19,229 [2]  
Capitalized expenditures 201 13,889 705 17,656  
Real estate, at cost 1,611,446   1,611,446   1,696,888
Less: accumulated depreciation (352,418)   (352,418)   (338,640)
Real estate, net 1,259,028   1,259,028   1,358,248
Real estate available and held for sale 0   0   0
Total real estate 1,259,028   1,259,028   1,358,248
Loans receivable and other lending investments, net 0   0   0
Other investments 33,740   33,740   16,408
Total portfolio assets 1,292,768   1,292,768   1,374,656
Operating Segments | Operating Properties
         
Segment Reporting          
Operating lease income 23,117 21,329 46,118 42,692  
Interest income 0 0 0 0  
Other income 7,874 11,440 20,540 19,579  
Land sales revenue 0   0    
Total revenues 30,991 32,769 66,658 62,271  
Earnings (loss) from equity method investments 731 1,816 948 4,473  
Income from sales of residential property 17,180 30,842 33,674 54,539  
Income (loss) from discontinued operations(4)   110 [1]   843 [1]  
Gain from discontinued operations   4,914   9,928  
Revenue and other earnings 48,902 70,451 101,280 132,054  
Real estate expense (28,929) (24,781) (57,543) (50,515)  
Land cost of sales 0   0    
Other expense 0 0 0 0  
Allocated interest expense (10,229) (12,452) [2] (20,488) (25,935) [2]  
Allocated general and administrative(2) (3,078) [3] (2,147) [3] (5,267) [3] (4,410) [3]  
Segment profit (loss)(3) 6,666 [4] 31,071 [4] 17,982 [4] 51,194 [4]  
Provision for (recovery of) loan losses 0 0 0 0  
Impairment of assets 3,900 427 [2] 3,900 395 [2]  
Depreciation and amortization 8,368 7,231 [2] 16,232 14,437 [2]  
Capitalized expenditures 13,564 9,485 26,418 14,406  
Real estate, at cost 744,212   744,212   720,508
Less: accumulated depreciation (86,747)   (86,747)   (82,420)
Real estate, net 657,465   657,465   638,088
Real estate available and held for sale 232,771   232,771   228,328
Total real estate 890,236   890,236   866,416
Loans receivable and other lending investments, net 0   0   0
Other investments 15,097   15,097   16,032
Total portfolio assets 905,333   905,333   882,448
Operating Segments | Land
         
Segment Reporting          
Operating lease income 176 0 402 0  
Interest income 0 0 0 0  
Other income 143 0 369 500  
Land sales revenue 4,487   8,630    
Total revenues 4,806 0 9,401 500  
Earnings (loss) from equity method investments (151) (1,511) (409) (3,090)  
Income from sales of residential property 0 3,477 0 3,477  
Income (loss) from discontinued operations(4)   0 [1]   0 [1]  
Gain from discontinued operations   0   0  
Revenue and other earnings 4,655 1,966 8,992 887  
Real estate expense (6,105) (6,527) (14,430) (13,031)  
Land cost of sales (3,611)   (7,265)    
Other expense 0 0 0 0  
Allocated interest expense (7,294) (7,943) [2] (14,453) (15,625) [2]  
Allocated general and administrative(2) (4,224) [3] (1,788) [3] (7,273) [3] (3,635) [3]  
Segment profit (loss)(3) (16,579) [4] (14,292) [4] (34,429) [4] (31,404) [4]  
Provision for (recovery of) loan losses 0 0 0 0  
Impairment of assets (600) 0 [2] (600) 0 [2]  
Depreciation and amortization 490 265 [2] 794 530 [2]  
Capitalized expenditures 18,373 7,972 33,056 15,598  
Real estate, at cost 829,112   829,112   803,238
Less: accumulated depreciation (4,215)   (4,215)   (3,393)
Real estate, net 824,897   824,897   799,845
Real estate available and held for sale 122,043   122,043   132,189
Total real estate 946,940   946,940   932,034
Loans receivable and other lending investments, net 0   0   0
Other investments 49,367   49,367   29,765
Total portfolio assets 996,307   996,307   961,799
Corporate, Non-Segment | Corporate/Other
         
Segment Reporting          
Operating lease income 0 [7] 0 [7] 0 [7] 0 [7]  
Interest income 0 [7] 0 [7] 0 [7] 0 [7]  
Other income 1,683 [7] 1,395 [7] 2,762 [7] 1,967 [7]  
Land sales revenue 0 [7]   0 [7]    
Total revenues 1,683 [7] 1,395 [7] 2,762 [7] 1,967 [7]  
Earnings (loss) from equity method investments 22,651 [7] 7,366 [7] 25,583 [7] 27,280 [7]  
Income from sales of residential property 0 [7] 0 [7] 0 [7] 0 [7]  
Income (loss) from discontinued operations(4)   0 [1],[7]   0 [1],[7]  
Gain from discontinued operations   0 [7]   0 [7]  
Revenue and other earnings 24,334 [7] 8,761 [7] 28,345 [7] 29,247 [7]  
Real estate expense 0 [7] 0 [7] 0 [7] 0 [7]  
Land cost of sales 0 [7]   0 [7]    
Other expense (4,387) [7] 268 [7] (4,178) [7] (3,913) [7]  
Allocated interest expense (5,140) [7] (10,213) [2],[7] (11,116) [7] (19,562) [2],[7]  
Allocated general and administrative(2) (6,498) [3],[7] (6,169) [3],[7] (12,084) [3],[7] (12,405) [3],[7]  
Segment profit (loss)(3) 8,309 [4],[7] (7,353) [4],[7] 967 [4],[7] (6,633) [4],[7]  
Provision for (recovery of) loan losses 0 [7] 0 [7] 0 [7] 0 [7]  
Impairment of assets 0 [7] 0 [2],[7] 0 [7] 0 [2],[7]  
Depreciation and amortization 282 [7] 315 [2],[7] 599 [7] 658 [2],[7]  
Capitalized expenditures 0 [7] 0 [7] 0 [7] 0 [7]  
Real estate, at cost 0 [7]   0 [7]   0 [7]
Less: accumulated depreciation 0 [7]   0 [7]   0 [7]
Real estate, net 0 [7]   0 [7]   0 [7]
Real estate available and held for sale 0 [7]   0 [7]   0 [7]
Total real estate 0 [7]   0 [7]   0 [7]
Loans receivable and other lending investments, net 0 [7]   0 [7]   0 [7]
Other investments 143,357 [7]   143,357 [7]   145,004 [7]
Total portfolio assets $ 143,357 [7]   $ 143,357 [7]   $ 145,004 [7]
[1] For the three and six months ended June 30, 2013, excludes certain amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
[2] For the three and six months ended June 30, 2013, includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
[3] General and administrative excludes stock-based compensation expense of $3.2 million and $5.3 million for the three and six months ended June 30, 2014, respectively, and $4.7 million and $9.9 million for the three and six months ended June 30, 2013, respectively.
[4] The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Three Months EndedJune 30, For the Six Months Ended June 30, 2014 2013 2014 2013Segment profit (loss)$42,304 $28,901 $49,067 $43,095Less: (Provision for) recovery of loan losses2,792 (5,020) 6,192 (15,226)Less: Impairment of assets(4)(3,300) (427) (6,279) (395)Less: Stock-based compensation expense(3,196) (4,719) (5,271) (9,921)Less: Depreciation and amortization(4)(18,822) (17,400) (37,435) (34,854)Less: Income tax (expense) benefit(4)215 (491) 722 (4,566)Less: Loss on early extinguishment of debt, net(23,587) (15,242) (24,767) (24,784)Net income (loss)$(3,594) $(14,398) $(17,771) $(46,651)
[5] For the three and six months ended June 30, 2014, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $2.4 million and $7.6 million, respectively. For the three and six months ended June 30, 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $6.4 million and $11.0 million, respectively.
[6] The Company's recorded investment in loans as of June 30, 2014 and December 31, 2013 also includes accrued interest of $7.7 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.
[7] Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not related to the other reportable segments above, including the Company's share of equity in earnings from LNR of $1.7 million and $16.5 million for the three and six months ended June 30, 2013. See Note 6 for further details on the Company's investment in LNR and summarized financial information of LNR.