Real Estate Owned (Tables)

6 Months Ended

Jun. 30, 2013

Real Estate [Abstract]

Summary of carrying amounts for real estate owned (at cost)

The following table summarizes the carrying amounts for our real estate owned (at cost) as of June 30, 2013 and December 31, 2012(dollar amounts in thousands):

	June 30, 2013			December 31, 2012
Land	$	1,265,049		$	1,907,169
Depreciable property — held and used:
Building and improvements	6,054,933			5,384,971
Furniture, fixtures and equipment	262,999			272,640
Under development:
Land	112,091			151,154
Construction in progress	321,616			339,894
Real estate owned	8,016,688			8,055,828
Accumulated depreciation	(2,071,649		)	(1,924,682		)
Real estate owned, net	$	5,945,039		$	6,131,146