CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash Flow From Operating Activities:
Net income (loss) (2)	$ 41,977	$ 59,509	$ (8,104)
Adjustments to reconcile net income (loss) applicable to common shares to net cash used in operating activities:
(Gain) loss on sale of land	(561)	1,073	(6,935)
Gain on sale of income producing properties	(61,879)	(97,405)	(5,217)
Depreciation and amortization	18,150	21,404	22,488
Provision on impairment of notes receivable and real estate assets (1)	0	11,320	4,730
Amortization of deferred borrowing costs	3,970	1,349	2,428
Earnings from unconsolidated subsidiaries and investees	298	142	11
(Increase) decrease in assets:
Accrued interest receivable	7,648	(8,432)	(5,517)
Other assets	2,784	(1,443)	(3,462)
Prepaid expense	(1,995)	(1,722)	(236)
Escrow	(16,733)	3,625	1,157
Earnest money	(420)	(310)	235
Rent receivables	(1,486)	2,445	(1,094)
Increase (decrease) in liabilities:
Accrued interest payable	104	(5,262)	(7,498)
Related party payables	(6,024)	(62,437)	(7,408)
Other liabilities	(15,215)	9,449	(10,316)
Net cash used in operating activities	(29,382)	(66,695)	(24,738)
Cash Flow From Investing Activities:
Proceeds from notes receivables	12,504	0	11,993
Originations of notes receivables	(35,430)	(458)	13,477
Acquisition of land held for development	(2,604)	(83)	(18,948)
Acquisition of income producing properties	(78,557)	0	0
Proceeds from sales of income producing properties	135,074	261,495	31,751
Proceeds from sale of land	8,777	13,671	36,648
Proceeds from sale of investments	0	0	132
Investment in unconsolidated real estate entities	(144)	3,600	780
Improvement of land held for development	(3,137)	(399)	(184)
Improvement of income producing properties	(4,563)	(7,681)	(2,201)
Acquisition of non-controlling interest	0	0	(69)
Sale of controlling interest	0	56	113
Construction and development of new properties	(3,016)	(1,152)	(5,683)
Net cash provided by investing activities	28,904	269,049	67,809
Cash Flow From Financing Activities:
Proceeds from notes payable	178,514	202,535	139,459
Recurring amortization of principal on notes payable	(21,352)	(15,761)	(21,541)
Payments on maturing notes payable	(153,595)	(386,710)	(163,553)
Deferred financing costs	(6,875)	1,791	(3,305)
Distributions to non-controlling interests	(31)	(14)	(8)
Common stock issuance	937	0	0
Preferred stock dividends - Series C	(106)	(210)	(212)
Preferred stock dividends - Series D	(899)	(900)	(901)
Net cash used in financing activities	(3,407)	(199,269)	(50,061)
Net increase (decrease) in cash and cash equivalents	(3,885)	3,085	(6,990)
Cash and cash equivalents, beginning of period	16,086	13,001	19,991
Cash and cash equivalents, end of period	12,201	16,086	13,001
Supplemental disclosures of cash flow information:
Cash paid for interest	30,110	37,776	44,737
Schedule of noncash investing and financing activities:
Affiliate payable/receivable for ARL cost basis sales adjustment	0	0	10,445
Acquisition of land for ARL cost basis sales adjustment	0	0	(10,445)
Notes receivable received from affiliate	0	0	6,000
Sale of notes receivable to affiliate	$ 0	$ 0	$ (20,387)