CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash Flow From Operating Activities:
Net income	$ 4,887	$ 3,290
Adjustments to reconcile net income applicable to common shares to net cash flows from operating activities:
Loss (gain) on sale of land	(634)	48
Gain on sale of income-producing properties	(14,826)	(24,392)
Depreciation and amortization	13,631	16,036
Provision on impairment of notes receivable and real estate assets		214
Amortization of deferred borrowing costs	2,379	3,473
Earnings from unconsolidated joint ventures and investees	276	8
Decrease (increase) in assets:
Accrued interest receivable	9,527	(1,440)
Other assets	2,752	138
Prepaid expense	(2,232)	(1,932)
Escrow	4,029	6,007
Earnest money	(605)	1,170
Rent receivables	(83)	2,786
Related party receivables		(3,856)
Increase (decrease) in liabilities:
Accrued interest payable	51	(2,828)
Related party payables	(18,686)	(10,057)
Other liabilities	(10,781)	(5,141)
Net cash used in operating activities	(10,315)	(16,476)
Cash Flow From Investing Activities:
Originations or advances on notes receivable	(22,136)	(488)
Acquisition of land held for development	(93)	(7)
Acquisition of income-producing properties	(19,534)
Proceeds from sale of income-producing properties	43,823	76,001
Proceeds from sale of land	6,638	2,537
Investment in unconsolidated real estate entities	(82)	(77)
Improvement of land held for development	(1,654)	(373)
Improvement of income-producing properties	(3,621)	(6,396)
Sales of controlling interest		54
Construction and development of new properties	(1,026)	(326)
Net cash provided by investing activities	2,315	70,925
Cash Flow From Financing Activities:
Proceeds from notes payable	105,056	141,452
Recurring amortization of principal on notes payable	(13,942)	(11,356)
Payments on maturing notes payable	(89,420)	(189,837)
Deferred financing costs	(5,623)	(1,408)
Distributions to non-controlling interests	(31)	(14)
Common stock issuance	937
Preferred stock dividends - Series C	(106)	(157)
Preferred stock dividends - Series D	(672)	(673)
Net cash used in financing activities	(3,801)	(61,993)
Net decrease in cash and cash equivalents	(11,801)	(7,544)
Cash and cash equivalents, beginning of period	16,086	16,620
Cash and cash equivalents, end of period	4,285	9,076
Supplemental disclosures of cash flow information:
Cash paid for interest	$ 22,717	$ 29,002