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Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 13,900,000 $ 6,700,000 $ 7,500,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Net (gain) loss from sale of real estate (2,700,000) 200,000 (400,000)
Acquisition related gain (56,600,000) (25,500,000) (6,300,000)
Gain on sale of marketable securities    (4,300,000)   
Depreciation and amortization 17,400,000 4,900,000 2,800,000
Provision for (benefit from) deferred income taxes 2,700,000 (500,000) (4,700,000)
Amortization of deferred loan costs 2,200,000 1,200,000 800,000
Amortization of discount and accretion of premium on issuance of the senior notes payable (1,200,000) 100,000   
Equity in joint venture income (29,800,000) (21,500,000) (12,500,000)
Accretion of interest income on loan pool participations and notes receivable (12,400,000) (8,100,000) (6,700,000)
Stock compensation expense 7,500,000 8,100,000 5,100,000
Change in assets and liabilities:      
Accounts receivable (200,000) (900,000) (1,000,000)
Accounts receivable—related party 10,900,000 (6,800,000) (9,000,000)
Operating distributions from joint ventures 56,100,000 40,400,000 13,000,000
Operating distributions from loan pool participation 11,600,000 18,600,000 2,400,000
Other assets (1,400,000) (3,100,000) (3,800,000)
Accounts payable 200,000    200,000
Accrued expenses and other liabilities 1,200,000 1,400,000 12,100,000
Accrued salaries and benefits 11,900,000 5,800,000 3,900,000
Net cash provided by operating activities 31,300,000 16,700,000 3,400,000
Cash flows from investing activities:      
Additions to notes receivable (51,000,000) (167,900,000) (6,100,000)
Settlements of notes receivable 39,400,000 7,100,000 3,600,000
Additions to notes receivable—related party (10,700,000) (17,100,000) (35,300,000)
Settlements of notes receivable—related party 6,600,000 9,100,000 4,900,000
Sale of participation interests 3,800,000    
Sale of participation interests—related party 2,800,000    
Capitalized development costs (1,400,000) 0 0
Non refundable escrow deposits (4,000,000) 0 0
Net proceeds from sale of real estate 10,100,000 18,700,000 7,100,000
Purchases of and additions to real estate (168,500,000) (119,000,000) (2,700,000)
Investment in marketable securities (3,700,000) 0 (32,800,000)
Short-term investments (10,000,000) 10,000,000   
Proceeds from sale of marketable securities    34,100,000   
Investing distributions from joint ventures 81,500,000 38,700,000 23,300,000
Contributions to joint ventures (322,700,000) (178,600,000) (105,400,000)
Investing distributions from loan pool participation 93,900,000 58,100,000 66,400,000
Contributions to loan pool participation (34,900,000) (72,900,000) (130,500,000)
Net cash used in investing activities (348,800,000) (399,700,000) (207,500,000)
Cash flow from financing activities:      
Borrowings under senior notes payable    160,300,000 249,300,000
Repayment of notes payable       (24,800,000)
Borrowings under lines of credit 125,000,000 85,800,000 74,000,000
Repayment of lines of credit (125,000,000) (85,800,000) (101,800,000)
Borrowings under mortgage loans payable 112,500,000 157,700,000 17,100,000
Repayment of mortgage loans payable (1,700,000)    (37,600,000)
Debt issue costs (2,200,000) (7,300,000) (7,700,000)
Issuance of common stock 275,900,000 106,200,000 123,100,000
Repurchase of common stock (3,800,000)    (500,000)
Repurchase of warrants (1,400,000) (1,600,000) (6,100,000)
Exercise of warrants 15,400,000 0 0
Dividends paid (24,100,000) [1] (21,900,000) [1] (11,700,000)
Acquisition of noncontrolling interests    (500,000)   
Contributions from noncontrolling interests 1,400,000 400,000 4,400,000
Distributions to noncontrolling interests (600,000) (4,900,000) (5,100,000)
Net cash provided by financing activities 371,400,000 388,400,000 272,600,000
Effect of currency exchange rate changes on cash and cash equivalents 3,400,000 (400,000) 500,000
Net change in cash and cash equivalents 57,300,000 5,000,000 69,000,000
Cash and cash equivalents, beginning of year 120,900,000 115,900,000 46,900,000
Cash and cash equivalents, end of year 178,200,000 120,900,000 115,900,000
Supplemental disclosure of non-cash investing and financing activities:      
Unrealized gain (loss) on marketable securities, net of tax 0 3,300,000 (3,200,000)
Supplemental cash flow information:      
Interest 49,700,000 [2] 28,700,000 [2] 17,000,000 [2]
Income taxes 2,300,000 100,000 0
Cash paid for interest 800,000 2,300,000 2,700,000
Sale of condo unit with seller back financing [Member]
     
Supplemental disclosure of non-cash investing and financing activities:      
Sale of condo unit with seller back financing    1,200,000   
Acquisitions of property by assumption of mortgage loan and note payable [Member]
     
Supplemental disclosure of non-cash investing and financing activities:      
Acquisitions of property    33,800,000   
Acquisition of properties in lieu of settlement of notes receivable and interest receivable [Member]
     
Supplemental disclosure of non-cash investing and financing activities:      
Acquisitions of property    $ 36,900,000   
[1] The difference between declared and paid is the amount accrued on the consolidated balance sheets.
[2] Cash paid for interest includes capitalized interest of $0.8 million, $2.3 million, and $2.7 million for the years ended December 31, 2013, 2012, and 2011.