Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Assets
Real estate investments, net	$ 1,401,526	$ 1,398,399
Loans held for investment, net	33,139	210,040
Commercial mortgage-backed securities	59,435	145,965
Cash and cash equivalents	71,160	32,742
Other assets	76,363	83,125
Total Assets	1,641,623	1,870,271
Liabilities and Stockholders' Equity
Mortgages on real estate investments	972,924	928,429
Collateralized debt obligations		254,210
Credit agreement	70,668	105,345
Secured term loan	88,142	101,880
Convertible senior notes	34,522	33,926
Other long-term debt	30,930	30,930
Total debt obligations	1,197,186	1,454,720
Intangible liabilities on real estate investments	35,219	37,405
Accounts payable and other liabilities	17,371	21,134
Dividends and distributions payable	5,946	5,373
Total Liabilities	1,255,722	1,518,632
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 100,000,000 shares authorized, Series A cumulative redeemable preferred, liquidation preference $25.00 per share, 3,204,900 shares issued and outstanding	73,880	73,880
Common stock, $0.01 par value, 500,000,000 shares authorized, 66,275,535 and 57,471,268 shares issued and outstanding, respectively	664	576
Additional paid in capital	321,302	296,232
Accumulated other comprehensive loss	(11,051)	(20,216)
Total Stockholders' Equity	384,795	350,472
Non-controlling interest in consolidated subsidiaries	1,106	1,167
Total Equity	385,901	351,639
Total Liabilities and Equity	$ 1,641,623	$ 1,870,271