SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables summarize the income and expense activity by segment for the years ended December 31, 2013, 2012 and 2011 and total assets as of December 31, 2013, 2012 and 2011.

	Year Ended December 31,
(Dollars in millions)	2013			2012			2011
Investments
Rental and other revenue	$	43.0		$	8.5		$	5.1
Sale of real estate	10.1			2.3			0.4
Total revenue	53.1			10.8			5.5
Operating expenses	69.1			36.9			19.3
Depreciation and amortization	15.6			4.4			2.4
Total operating expenses	84.7			41.3			21.7
Equity in joint venture income	29.8			21.5			12.5
Income from loan pool participations and notes receivable	13.5			9.2			8.0
Total operating income	11.7			0.2			4.3
Other non-operating (expense) income and discontinued operations	(3.8		)	6.3			2.4
Acquisition-related gains	56.6			25.5			6.3
Interest expense - property level debt	(11.8		)	(2.5		)	(1.6		)
Income before (provision for) benefit from income taxes	$	52.7		$	29.5		$	11.4

	Year Ended December 31,
(Dollars in millions)	2013		2012		2011
Services
Management fees and commissions	$	22.1	$	20.8	$	18.4
Management fees and commissions - related party	46.0		32.5		38.7
Total revenue	68.1		53.3		57.1
Operating expenses	40.7		33.1		31.4
Depreciation and amortization	1.3		0.2		0.1
Total operating expenses	42.0		33.3		31.5
Total operating income	26.1		20.0		25.6
Income before (provision for) benefit from income taxes	$	26.1	$	20.0	$	25.6

	Year Ended December 31,
(Dollars in millions)	2013			2012			2011
Corporate
Rental and other revenue	$	—		$	—		$	—
Total revenue	—			—			—
Operating expenses	21.9			16.7			12.6
Depreciation and amortization	0.5			0.3			0.2
Total operating expenses	22.4			17.0			12.8
Total operating loss	(22.4		)	(17.0		)	(12.8		)
Interest income	0.3			0.2			0.3
Interest expense - corporate debt	(39.9		)	(26.1		)	(19.0		)
Loss before provision for income taxes	(62.0		)	(42.9		)	(31.5		)
(Provision for) benefit from income taxes	(2.9		)	0.2			2.0
Net loss	$	(64.9	)	$	(42.7	)	$	(29.5	)

	Year Ended December 31,
(Dollars in millions)	2013			2012			2011
Consolidated
Management fees and commissions	$	22.1		$	20.8		$	18.4
Management fees and commissions - related party	46.0			32.5			38.7
Rental and other income	43.0			8.5			5.1
Sale of real estate	10.1			2.3			0.4
Total revenue	121.2			64.1			62.6
Operating expenses	131.7			86.6			63.3
Depreciation and amortization	17.4			4.9			2.8
Total operating expenses	149.1			91.5			66.1
Equity in joint venture income	29.8			21.5			12.5
Interest income from loan pool participations and notes receivable	13.5			9.2			8.0
Operating income	15.4			3.3			17.0
Other non-operating (expense) income and discontinued operations	(3.5		)	6.3			2.8
Acquisition-related gains	56.6			25.5			6.3
Interest expense - corporate debt	(39.9		)	(26.1		)	(19.0		)
Interest expense - property level debt	(11.8		)	(2.5		)	(1.6		)
Income before benefit from income taxes	16.8			6.5			5.5
(Provision for) benefit from income taxes	(2.9		)	0.2			2.0
Net Income	$	13.9		$	6.7		$	7.5

	December 31,
(Dollars in millions)	2013		2012
Assets
Investments	$	1,537.4	$	1,070.6
Services	132.6		105.4
Corporate	128.8		107.8
Total assets	$	1,798.8	$	1,283.8

	December 31,
(Dollars in millions)	2013		2012		2011
Expenditures for long lived assets
Investments	$	168.5	$	119.0	$	2.7

Schedule of Revenue, by Geographical Areas

The revenue shown in the table below is allocated based upon the country in which services are performed.

	Year Ended December 31,
(Dollars in millions)	2013		2012		2011
United States	$	85.7	$	44.4	$	39.8
United Kingdom	28.1		19.2		22.3
Ireland	7.0		—		—
Japan	0.4		0.5		0.5
Total Revenue	$	121.2	$	64.1	$	62.6