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SEGMENTS (Details 3) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Reconciliation of REP EBT to GAAP net income (loss)      
General and administrative $ (34,423) $ (32,342) $ (21,538)
Corporate interest income, Net 9,437 9,876 369
Warrant liability gain (loss) (185,017) 101,584 (140,900)
Benefit (provision) for income taxes (6,887) 18,325 633,459
Reduction in tax indemnity receivable (20,260)    
Equity in earnings from Real Estate Affiliates 3,683 8,578 9,413
Investment in Real Estate Affiliate basis adjustment   (6,053)  
Reorganization items     (57,282)
Net income (loss) (127,543) 148,470 (69,230)
Unallocated amount to segment
     
Reconciliation of REP EBT to GAAP net income (loss)      
General and administrative (34,423) (32,342) (21,538)
Corporate interest income, Net 10,153 8,595 199
Warrant liability gain (loss) (185,017) 101,584 (140,900)
Benefit (provision) for income taxes (6,887) 18,325 633,459
Reduction in tax indemnity receivable (20,260)    
Equity in earnings from Real Estate Affiliates 3,683 8,578 9,413
Investment in Real Estate Affiliate basis adjustment   (6,053)  
Reorganization items     (57,282)
Corporate depreciation (814) (204) (21)
Net income (loss) (127,543) 148,470 (69,230)
Segment Basis
     
Reconciliation of REP EBT to GAAP net income (loss)      
Real estate property EBT 109,705 62,197 (481,871)
Real Estate Affiliates
     
Reconciliation of REP EBT to GAAP net income (loss)      
Real estate property EBT (3,683) (12,210) (10,689)
Consolidated Properties
     
Reconciliation of REP EBT to GAAP net income (loss)      
Real estate property EBT $ 106,022 $ 49,987 $ (492,560)