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Debt and Preferred Equity Investments (Details) (USD $)
3 Months Ended 9 Months Ended 12 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended 9 Months Ended 1 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2012
Dec. 31, 2011
Sep. 30, 2013
Debt investment
Dec. 31, 2012
Debt investment
Sep. 30, 2013
Fixed rate debt
Dec. 31, 2012
Fixed rate debt
Sep. 30, 2013
Other loan with an initial maturity of March 2015
Dec. 31, 2012
Other loan with an initial maturity of March 2015
Sep. 30, 2013
Mezzanine loan with an initial maturity date of February 2016
Dec. 31, 2012
Mezzanine loan with an initial maturity date of February 2016
Sep. 30, 2013
Mortgage/Mezzanine loan with an initial maturity date of May 2016
Dec. 31, 2012
Mortgage/Mezzanine loan with an initial maturity date of May 2016
Sep. 30, 2013
Mezzanine loan with an initial maturity date of May 2016
Dec. 31, 2012
Mezzanine loan with an initial maturity date of May 2016
Sep. 30, 2013
Junior participation with an initial maturity date of June 2016
Dec. 31, 2012
Junior participation with an initial maturity date of June 2016
Sep. 30, 2013
Mezzanine loan with an initial maturity date of November 2016
Dec. 31, 2012
Mezzanine loan with an initial maturity date of November 2016
Jan. 31, 2013
Mortgage/Mezzanine loan with an initial maturity date of March 2017
Sep. 30, 2013
Mortgage/Mezzanine loan with an initial maturity date of March 2017
Dec. 31, 2012
Mortgage/Mezzanine loan with an initial maturity date of March 2017
Sep. 30, 2013
Other loan with an initial maturity of September 2021
Dec. 31, 2012
Other loan with an initial maturity of September 2021
May 31, 2013
Mortgage
Sep. 30, 2013
Mortgage
Dec. 31, 2012
Mortgage
Sep. 30, 2013
Total floating rate
Dec. 31, 2012
Total floating rate
Sep. 30, 2013
Mezzanine loan with an initial maturity date of December 2013
Dec. 31, 2012
Mezzanine loan with an initial maturity date of December 2013
Jun. 30, 2013
Junior participation with an initial maturity date of June 2013 extended to February 2014
Sep. 30, 2013
Junior participation with an initial maturity date of June 2013 extended to February 2014
Dec. 31, 2012
Junior participation with an initial maturity date of June 2013 extended to February 2014
Sep. 30, 2013
Junior participation with an initial maturity date of February 2014
Dec. 31, 2012
Junior participation with an initial maturity date of February 2014
Sep. 30, 2013
Mortgage/Mezzanine Loan with an initial maturity date of July 2014
Dec. 31, 2012
Mortgage/Mezzanine Loan with an initial maturity date of July 2014
Sep. 30, 2013
Mezzanine loan with an initial maturity date of July 2014
Dec. 31, 2012
Mezzanine loan with an initial maturity date of July 2014
Sep. 30, 2013
Mezzanine loan with an initial maturity date of August 2014
Dec. 31, 2012
Mezzanine loan with an initial maturity date of August 2014
Sep. 30, 2013
Mortgage with initial maturity date of September 2014
Dec. 31, 2012
Mortgage with initial maturity date of September 2014
Sep. 30, 2013
Mezzanine Loan with initial maturity date of October 2014
Dec. 31, 2012
Mezzanine Loan with initial maturity date of October 2014
Sep. 30, 2013
Mortgage/Mezzanine loan with an initial maturity date of February 2015
Dec. 31, 2012
Mortgage/Mezzanine loan with an initial maturity date of February 2015
Sep. 30, 2013
Mezzainine Loan with an Initial Maturity Date of September 2015 [Member]
Dec. 31, 2012
Mezzainine Loan with an Initial Maturity Date of September 2015 [Member]
Jun. 30, 2013
Mezzanine loan with an initial maturity date of December 2015
Sep. 30, 2013
Mezzanine loan with an initial maturity date of December 2015
Dec. 31, 2012
Mezzanine loan with an initial maturity date of December 2015
Sep. 30, 2013
Mortgage with initial maturity date of March 2016
Dec. 31, 2012
Mortgage with initial maturity date of March 2016
Jun. 30, 2013
Mezzanine loan with an initial maturity date of June 2016
Sep. 30, 2013
Mezzanine loan with an initial maturity date of June 2016
Dec. 31, 2012
Mezzanine loan with an initial maturity date of June 2016
Sep. 30, 2013
Mezzanine loan with an initial maturity date of July 2016
Dec. 31, 2012
Mezzanine loan with an initial maturity date of July 2016
Sep. 30, 2013
Mortgage/Mezzanine Loan with an initial maturity date of July 2018
Dec. 31, 2012
Mortgage/Mezzanine Loan with an initial maturity date of July 2018
Sep. 30, 2013
Other Liabilities [Member]
Mezzanine loan with an initial maturity date of July 2014
Debt investment                                                                                                                                    
Increase in debt and preferred equity investments (net of discounts and deferred origination fees), including investments classified as held-for-sale     $ 497,400,000 $ 374,000,000                                                                                                                            
Decrease in debt and preferred equity investments (net of discounts), including investments classified as held-for-sale     530,200,000 288,300,000                                                                                                                            
Loan loss reserves 0 0 0 3,000,000 3,000,000                                                                                                                          
Aggregate weighted average current yield (as a percent)     11.30%                                                                                                                              
Senior Financing 4,465,422,000   4,465,422,000           2,369,855,000   398,500,000   205,000,000   167,355,000   177,000,000   133,000,000   165,000,000     1,109,000,000 [1]   15,000,000     0 [2]   2,095,567,000   0     57,750,000 [3]   80,932,000 [4]   330,000,000   62,500,000 [5]   180,000,000   0   87,374,000 [6]   0 [7]   110,000,000     92,711,000 [8]   775,000,000     160,000,000 [9]   87,300,000   72,000,000    
Carrying Value, Net of Discounts and Deferred Origination Fees, at fixed rate                 344,374,000 583,565,000 14,837,000 0 67,740,000 66,307,000 44,549,000 44,013,000 15,226,000 15,906,000 49,000,000 49,000,000 71,254,000 70,967,000   78,268,000 [1] 115,804,000 [1] 3,500,000 3,500,000   0 [2] 218,068,000 [2]                                                                        
Carrying Value, Net of Discounts and Deferred Origination Fees, at floating rate                                                             617,054,000 433,290,000 29,912,000 0   10,869,000 [3] 10,869,000 [3] 23,953,000 [4] 0 [4] 131,595,000 131,231,000 37,394,000 [5] 37,288,000 [5] 59,852,000 59,739,000 14,855,000 14,745,000 37,365,000 [6] 34,444,000 [6] 53,258,000 [7] 47,253,000 [7] 48,991,000 0   27,772,000 [8] 55,336,000 [8] 72,585,000 0   22,515,000 [9] 7,624,000 [9] 25,580,000 34,761,000 20,558,000 0  
Carrying value, net of discounts             961,428,000 1,016,855,000                                                                                                                    
Loan loss reserve (4,000,000)   (4,000,000)   (7,000,000) (50,175,000) (4,000,000) [10] (7,000,000) [10]                                                                                                                    
Total, net of reserve             957,428,000 1,009,855,000                                                                                                                    
Percentage of loan sold (percent)                                             50.00%                                                             50.00%                        
Amount recovered from sale of loan                                             57,800,000                                                                                      
Additional income recognized on sale                                             12,900,000         6,400,000                                                                            
Value of mortgage                                                                                                           85,000,000         30,000,000              
Extension term (extension term)                                                                     4 months                                                              
Additional commitments to fund in connection with loan                                                                           900,000                   12,300,000   5,200,000         13,600,000                      
Loan Participation Amount included in Other assets and/or Other liabilities                                                                                                                     7,400,000             5,000,000 [5]
Amount funded in origination                                                                                                             56,300,000                      
Repayments of debt                                                                                                                     $ 15,000,000              
[1] Interest is added to the principal balance for this accrual only loan. In January 2013, we sold 50% of the mezzanine loan for $57.8 million and recognized additional income of $12.9 million, which is included in investment and preferred equity income on the consolidated statements of income. The unaccrued interest during the period in which the loan was on non-accrual status is being accreted as of January 2013.
[2] In connection with the repayment of the loan in May 2013, we recognized additional income of $6.4 million, which is included in investment and preferred equity income on our consolidated statements of income.
[3] In June 2013, the loan was extended to February 2014, subject to an additional four-month extension option.
[4] As of September 30, 2013, we were committed to fund an additional $0.9 million in connection with this loan.
[5] As a result of the transfer not meeting the conditions for sale accounting, the $5.0 million portion of the outstanding loan that was participated out has been recorded in other liabilities in the accompanying consolidated balance sheets.
[6] As of September 30, 2013, we were committed to fund an additional $12.3 million in connection with this loan.
[7] As of September 30, 2013, we were committed to fund an additional $5.2 million in connection with this loan.
[8] We funded $56.3 million at origination. In June 2013, we sold 50% of our interest in the $85.0 million mezzanine loan. As of September 30, 2013, we were committed to fund an additional $13.6 million in connection with our share of this loan.
[9] As part of the refinancing of the related senior mortgage in June 2013, we originated a $30.0 million mezzanine loan and our previous investment in the amount of $15.0 million, including the $7.4 million participated interest, was repaid in full. Following the refinancing, we entered into a loan participation agreement in the amount of $7.4 million on this $30.0 million mezzanine loan. Due to our continued involvement with the loan, the portion that was participated out has been recorded in other assets and other liabilities in the accompanying consolidated balance sheets.
[10] Loan loss reserves are specifically allocated to investments. Our reserves reflect management's judgment of the probability and severity of losses based on Level 3 data. We cannot be certain that our judgment will prove to be correct or that reserves will be adequate over time to protect against potential future losses.