Safehold 10-Q 6 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	1-May-14
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'ISTAR FINANCIAL INC	'
Entity Central Index Key	'0001095651	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	84,854,672
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Entity Well-known Seasoned Issuer	'Yes	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'		'
Real estate, at cost	$3,147,119		$3,220,634
Less: accumulated depreciation	-433,149		-424,453
Real estate, net	2,713,970		2,796,181
Real estate available and held for sale	334,691		360,517
Total real estate	3,048,661		3,156,698
Loans receivable and other lending investments, net	1,476,490	[1]	1,370,109	[1]
Other investments	205,097		207,209
Cash and cash equivalents	409,598		513,568
Restricted cash	50,593		48,769
Accrued interest and operating lease income receivable, net	15,745		14,941
Deferred operating lease income receivable	94,911		92,737
Deferred expenses and other assets, net	186,620		237,980
Total assets	5,487,715		5,642,011
Liabilities:	'		'
Accounts payable, accrued expenses and other liabilities	112,195		170,831
Debt obligations, net	4,102,050		4,158,125
Total liabilities	4,214,245		4,328,956
Commitments and contingencies	0		0
Redeemable noncontrolling interests	11,353		11,590
iStar Financial Inc. shareholders' equity:	'		'
High Performance Units	9,800		9,800
Common Stock, $0.001 par value, 200,000 shares authorized,145,471 issued and 84,855 outstanding at March 31, 2014 and 144,334 issued and 83,717 outstanding at December 31, 2013	145		144
Additional paid-in capital	4,013,303		4,022,138
Retained earnings (deficit)	-2,549,079		-2,521,618
Accumulated other comprehensive income (loss) (see Note 11)	-5,672		-4,276
Treasury stock, at cost, $0.001 par value, 60,617 shares at March 31, 2014 and December 31, 2013	-262,954		-262,954
Total iStar Financial Inc. shareholders' equity	1,205,569		1,243,260
Noncontrolling interests	56,548		58,205
Total equity	1,262,117		1,301,465
Total liabilities and equity	5,487,715		5,642,011
Series D, E, F, G and I Preferred Stock	'		'
iStar Financial Inc. shareholders' equity:	'		'
Preferred Stock	22		22
Series J convertible perpetual preferred stock	'		'
iStar Financial Inc. shareholders' equity:	'		'
Preferred Stock	$4		$4
[1]	The Company's recorded investment in loans as of March 31, 2014 and December 31, 2013 also includes accrued interest of $7.6 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014		Dec. 31, 2013
Common Stock, par value (in dollars per share)	$0.00		$0.00
Common Stock, shares authorized	200,000,000		200,000,000
Common Stock, shares issued	145,471,000		144,334,000
Common Stock, shares outstanding	84,855,000		83,717,000
Treasury stock, par value (in dollars per share)	$0.00		$0.00
Treasury stock, shares	60,617,000		60,617,000
Series D, E, F, G and I Preferred Stock	'		'
Liquidation Preference (in dollars per share)	$25	[1],[2]	$25	[1],[2]
Series J convertible perpetual preferred stock	'		'
Liquidation Preference (in dollars per share)	$50	[1],[2]	$50	[1],[2]
[1]	The Company declared and paid dividends of $2.0 million, $2.8 million, $2.0 million, $1.5 million and $2.3 million on its Series D, E, F, G and I preferred stock during the three months ended March 31, 2014 and 2013. The Company declared and paid dividends of $2.3 million on its Series J preferred stock during the three months ended March 31, 2014. All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding.
[2]	Holders of shares of the Series D, E, F, G, I and J preferred stock are entitled to receive dividends, when and as declared by the Board of Directors, out of funds legally available for the payment of dividends. Dividends are cumulative from the date of original issue and are payable quarterly in arrears on or before the 15th day of each March, June, September and December or, if not a business day, the next succeeding business day. Any dividend payable on the preferred stock for any partial dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends will be payable to holders of record as of the close of business on the first day of the calendar month in which the applicable dividend payment date falls or on another date designated by the Board of Directors of the Company for the payment of dividends that is not more than 30 nor less than 10 days prior to the dividend payment date.

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Revenues:	'		'
Operating lease income	$62,108		$58,015
Interest income	27,914		24,667
Other income	14,584		11,393
Land sales revenue	4,143		0
Total revenues	108,749		94,075
Costs and expenses:	'		'
Interest expense	57,456		71,566
Real estate expense	42,613		37,808
Land cost of sales	3,654		0
Depreciation and amortization	18,613		17,324
General and administrative	19,788		21,848
Provision for (recovery of) loan losses	-3,400	[1]	10,206	[1]
Impairment of assets	2,979		0
Other expense	221		5,625
Total costs and expenses	141,924		164,377
Income (loss) before earnings from equity method investments and other items	-33,175		-70,302
Loss on early extinguishment of debt, net	-1,180		-9,541
Earnings from equity method investments	3,177		21,678
Income (loss) from continuing operations before income taxes	-31,178		-58,165
Income tax (expense) benefit	507	[2]	-4,075	[2]
Income (loss) from continuing operations(1)	-30,671	[3]	-62,240	[3]
Income (loss) from discontinued operations	0		1,246
Gain from discontinued operations	0		5,044
Income from sales of residential property	16,494		23,697
Net income (loss)	-14,177		-32,253
Net (income) loss attributable to noncontrolling interests	-454		189
Net income (loss) attributable to iStar Financial Inc.	-14,631		-32,064
Preferred dividends	-12,830		-10,580
Net (income) loss allocable to HPU holders and Participating Security holders(2)(3)	889	[4],[5]	1,381	[4],[5]
Net income (loss) allocable to common shareholders	($26,572)		($41,263)
Income (loss) attributable to iStar Financial Inc. from continuing operations:	'		'
Basic and diluted (in dollars per share)	($0.31)	[3]	($0.56)	[3]
Net income (loss) attributable to iStar Financial Inc.:	'		'
Basic and diluted (in dollars per share)	($0.31)	[3]	($0.49)	[3]
Weighted average number of common shares—basic and diluted	84,819	[3]	84,824	[3]
Income (loss) attributable to iStar Financial Inc. from continuing operations:	'		'
Basic and diluted (in dollars per share)	($59.27)	[3],[4]	($105.61)	[3],[4]
Net income (loss) attributable to iStar Financial Inc.:	'		'
Basic and diluted (in dollars per share)	($59.27)	[3],[4]	($92.07)	[3],[4]
Weighted average number of HPU shares—basic and diluted	15	[3],[4]	15	[3],[4]
[1]	For the three months ended March 31, 2014 and 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $5.2 million and $4.6 million, respectively.
[2]	Includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
[3]	Income (loss) from continuing operations attributable to iStar Financial Inc. for the three months ended March 31, 2014 and 2013 was $(31.3) million and $(62.1) million, respectively. See Note 13 for details on the calculation of earnings per share.
[4]	HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit Program.
[5]	Participating Security holders are Company employees and directors who hold unvested restricted stock units, restricted stock awards and common stock equivalents granted under the Company's Long Term Incentive Plans that are eligible to participate in dividends (see Note 12 and Note 13).

Consolidated_Statements_of_Ope1

Consolidated Statements of Operations (Parenthetical) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]	'	'
Income (loss) from continuing operations attributable to iStar Financial Inc.	($31.30)	($62.10)

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Statement of Comprehensive Income [Abstract]	'		'
Net income (loss)	($14,177)		($32,253)
Other comprehensive income (loss):	'		'
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization(1)	135	[1]	74	[1]
Unrealized gains/(losses) on available-for-sale securities	68		225
Unrealized gains/(losses) on cash flow hedges	-1,762		37
Unrealized gains/(losses) on cumulative translation adjustment	163		-615
Other comprehensive income (loss)	-1,396		-279
Comprehensive income (loss)	-15,573		-32,532
Net (income) loss attributable to noncontrolling interests	-454		189
Comprehensive income (loss) attributable to iStar Financial Inc.	($16,027)		($32,343)
[1]	Included in "Interest expense" on the Company's Consolidated Statements of Operations.

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Equity (USD $)

Total

Preferred Stock

Series J Preferred Stock

HPU's

Common Stock at Par

Additional Paid-In Capital

Retained Earnings (Deficit)

Accumulated Other Comprehensive Income (Loss)

Treasury Stock at Cost

Noncontrolling Interests

In Thousands, unless otherwise specified

Balance at Dec. 31, 2012

$1,313,154

$22

$0

$9,800

$143

$3,832,780

($2,360,647)

($1,185)

($241,969)

$74,210

Increase (Decrease) in Stockholders' Equity [Roll Forward]

'

'

'

'

'

'

'

'

'

'

Issuance of Preferred Stock

193,510

'

4

[1]

'

'

193,506

'

'

'

'

Dividends declared—preferred

-10,580

'

'

'

'

'

-10,580

'

'

'

Issuance of stock/restricted stock unit amortization, net

-4,691

'

'

'

1

-4,692

'

'

'

'

Net income (loss) for the period

[2]

-31,734

'

'

'

'

'

-32,064

'

'

330

Change in accumulated other comprehensive income (loss)

-279

'

'

'

'

'

'

-279

'

'

Additional paid in capital attributable to redeemable noncontrolling interest

-1,744

'

'

'

'

-1,744

'

'

'

'

Contributions from noncontrolling interests

11,079

[3]

'

'

'

'

'

'

'

'

11,079

[4]

Distributions to noncontrolling interests

-16,623

[4]

'

'

'

'

'

'

'

'

-16,623

[3]

Balance at Mar. 31, 2013

1,452,092

22

[1]

4

[1]

9,800

144

4,019,850

-2,403,291

-1,464

-241,969

68,996

Balance at Dec. 31, 2013

1,301,465

22

4

[1]

9,800

144

4,022,138

-2,521,618

-4,276

-262,954

58,205

Increase (Decrease) in Stockholders' Equity [Roll Forward]

'

'

'

'

'

'

'

'

'

'

Dividends declared—preferred

-12,830

'

'

'

'

'

-12,830

'

'

'

Issuance of stock/restricted stock unit amortization, net

-8,588

'

'

'

1

-8,589

'

'

'

'

Net income (loss) for the period

[2]

-13,693

'

'

'

'

'

-14,631

'

'

938

Change in accumulated other comprehensive income (loss)

-1,396

'

'

'

'

'

'

-1,396

'

'

Additional paid in capital attributable to redeemable noncontrolling interest

-246

'

'

'

'

-246

'

'

'

'

Distributions to noncontrolling interests

-2,595

'

'

'

'

'

'

'

'

-2,595

Balance at Mar. 31, 2014

$1,262,117

$22

$4

[1]

$9,800

$145

$4,013,303

($2,549,079)

($5,672)

($262,954)

$56,548

[1]

See Note 11 for details on the Company's Cumulative Redeemable Preferred Stock.

[2]

For the three months ended March 31, 2014 and 2013, net loss shown above excludes $484 and $519, respectively, of net loss attributable to redeemable noncontrolling interests.

[3]

Includes an $8.8 million payment to redeem a noncontrolling member's interest.

[4]

Includes $9.4 million of operating property assets contributed by a noncontrolling partner (see Note 4).

Consolidated_Statements_of_Cha1

Consolidated Statements of Changes in Equity (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net loss attributable to redeemable noncontrolling interest	$484,000	$519,000
Payments for repurchase of redeemable noncontrolling interest	'	8,800,000
Strategic Venture, Commercial Operating Properties	'	'
Properties acquired in joint venture	'	$9,400,000

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Cash flows from operating activities:	'		'
Net income (loss)	($14,177)		($32,253)
Adjustments to reconcile net income (loss) to cash flows from operating activities:	'		'
Provision for (recovery of) loan losses	-3,400	[1]	10,206	[1]
Impairment of assets	2,979		0
Depreciation and amortization	18,613		17,354
Land cost of sales	3,654		0
Payments for withholding taxes upon vesting of stock-based compensation	-13,456		-9,894
Non-cash expense for stock-based compensation	2,075		5,202
Amortization of discounts/premiums and deferred financing costs on debt	4,668		5,000
Amortization of discounts/premiums and deferred interest on loans	-12,527		-6,853
Earnings from equity method investments	-3,177		-21,678
Distributions from operations of equity method investments	8,630		6,109
Deferred operating lease income	-2,691		-3,592
Income from sales of residential property	-16,494		-23,697
Gain from discontinued operations	0		-5,044
Loss on early extinguishment of debt, net	1,180		9,541
Repayments and repurchases of debt—debt discount and prepayment penalty	-660		-20,057
Other operating activities, net	1,205		1,537
Changes in assets and liabilities:	'		'
Changes in accrued interest and operating lease income receivable, net	-804		973
Changes in deferred expenses and other assets, net	6,418		-12,420
Changes in accounts payable, accrued expenses and other liabilities	-42,714		-4,125
Cash flows from operating activities	-60,678		-83,691
Cash flows from investing activities:	'		'
Investment originations and fundings	-193,943		-13,321
Acquisitions of and capital expenditures on real estate assets	-30,314		-25,104
Repayments of and principal collections on loans	102,928		193,288
Net proceeds from sales of loans	0		37,703
Net proceeds from sales of real estate	157,090		107,192
Distributions from other investments	19,558		13,024
Contributions to other investments	-22,978		-1,448
Other investing activities, net	-1,023		143
Cash flows from investing activities	31,318		311,477
Cash flows from financing activities:	'		'
Borrowings from debt obligations	2,067		658,700
Repayments of debt obligations	-60,863		-846,562
Preferred dividends paid	-12,830		-10,580
Proceeds from issuance of preferred stock	0		193,510
Other financing activities, net	-2,984		-10,804
Cash flows from financing activities	-74,610		-15,736
Changes in cash and cash equivalents	-103,970		212,050
Cash and cash equivalents at beginning of period	513,568		256,344
Cash and cash equivalents at end of period	$409,598		$468,394
[1]	For the three months ended March 31, 2014 and 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $5.2 million and $4.6 million, respectively.

Business_and_Organization

Business and Organization	3 Months Ended
	Mar. 31, 2014
Business and Organization [Abstract]	'
Business and Organization	'
	Business and Organization
	Business—iStar Financial Inc., or the "Company," is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust, or "REIT," has invested more than $35 billion over the past two decades. The Company's primary business segments are real estate finance, net lease, operating properties and land (see Note 15).
	Organization—The Company began its business in 1993 through the management of private investment funds and became publicly traded in 1998. Since that time, the Company has grown through the origination of new lending and leasing transactions, as well as through corporate acquisitions.

Basis_of_Presentation_and_Prin

Basis of Presentation and Principles of Consolidation	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation and Principles of Consolidation	'
	Basis of Presentation and Principles of Consolidation
	Basis of Presentation—The accompanying unaudited Consolidated Financial Statements have been prepared in conformity with the instructions to Form 10-Q and Article 10-01 of Regulation S-X for interim financial statements. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States of America ("GAAP") for complete financial statements. These unaudited Consolidated Financial Statements and related Notes should be read in conjunction with the Consolidated Financial Statements and related Notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013.
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
	In the opinion of management, the accompanying Consolidated Financial Statements contain all adjustments, consisting of normal recurring adjustments necessary for a fair statement of the results for the interim periods presented. Such operating results may not be indicative of the expected results for any other interim periods or the entire year.
	Certain prior year amounts have been reclassified in the Consolidated Financial Statements and the related Notes to conform to the 2014 presentation.
	Principles of Consolidation—The Consolidated Financial Statements include the financial statements of the Company, its wholly owned subsidiaries, controlled partnerships and variable interest entities ("VIEs") for which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation. The Company's involvement with VIEs affects its financial performance and cash flows primarily through amounts recorded in "operating lease income," "earnings from equity method investments," "other income," "real estate expense" and "interest expense" in the Company's Consolidated Statements of Operations. The Company has not provided financial support to these VIEs that it was not previously contractually required to provide.
	Consolidated VIEs—As of March 31, 2014, the Company consolidated 5 VIEs for which the Company is considered the primary beneficiary. At March 31, 2014, the total assets of these consolidated VIEs were $212.9 million and total liabilities were $34.1 million. The classifications of these assets are primarily within "real estate, net," "loans receivable and other lending investments, net" and "other investments" on the Company's Consolidated Balance Sheets. The classifications of liabilities are primarily within "debt obligations, net," and "accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. The liabilities of these VIEs are non-recourse to the Company and can only be satisfied from each VIE's respective assets. The Company's total unfunded commitments related to consolidated VIEs was $38.8 million as of March 31, 2014.
	Unconsolidated VIEs—As of March 31, 2014, 27 of the Company's investments were in VIEs where it is not the primary beneficiary and accordingly the VIEs have not been consolidated in the Company's Consolidated Financial Statements. As of March 31, 2014, the Company's maximum exposure to loss from these investments does not exceed the sum of the $157.0 million carrying value of the investments, which are classified in "other investments" on the Company's Consolidated Balance Sheets, and $29.4 million of related unfunded commitments.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	As of March 31, 2014, the Company's significant accounting policies, which are detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, have not changed materially other than the policies described below.
	Real estate
	Capitalization—For real estate projects, the Company begins to capitalize qualified development and construction costs, including interest, real estate taxes, compensation and certain other carrying costs incurred which are specifically identifiable to a development project once activities necessary to get the asset ready for its intended use have commenced. If specific allocation of costs is not practicable, the Company will allocate costs based on relative fair value prior to construction or relative sales value, relative size or other value methods as appropriate during construction. The Company ceases capitalization on the portions substantially completed and ready for their intended use.
	Dispositions—Revenues from sales of land are recognized in accordance with Accounting Standards Codification ("ASC") 360-20, Real Estate Sales. Sales of land are recognized for full profit recognition upon closing of the sale transactions, when the profit is determinable, the earnings process is virtually complete, the parties are bound by the terms of the contract, all consideration has been exchanged, any permanent financing for which the seller is responsible has been arranged and all conditions for closing have been performed. Revenues from sales of land are included in "Land sales revenue" and costs of land sales are included in "Land cost of sales" on the Company’s Consolidated Statements of Operations.
	New Accounting Pronouncements
	In April 2014, the FASB issued ASU 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity" ("ASU 2014-08"). This guidance requires disposals of a component of an entity or group of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results to be reported as discontinued operations. Assets and liabilities of a disposal group that includes a discontinued operation must be presented separately in asset and liability sections, respectively, of the Company's Consolidated Balance Sheets for each comparative period. Expanded disclosures about the assets, liabilities, revenues and expenses of discontinued operations are also required. For individually significant disposals that do not qualify as discontinued operations, disclosure of pre-tax income is required. ASU 2014-08 is effective for interim and annual periods beginning on or after December 15, 2014. Early adoption is permitted for disposals (or classifications as held for sale) that have not been reported in previously-issued financial statements. The Company has elected to early adopt ASU 2014-08 beginning with disposals and classifications of assets as held for sale that occurred after December 31, 2013.

Real_Estate

Real Estate	3 Months Ended
	Mar. 31, 2014
Real Estate [Abstract]	'
Real Estate	'
	Real Estate
	The Company's real estate assets were comprised of the following ($ in thousands):
		Net Lease			Operating			Land			Total
					Properties
	As of March 31, 2014
	Land and land improvements	$	328,143		$	132,934		$	809,517		$	1,270,594
	Buildings and improvements	1,283,103			593,422			—			1,876,525
	Less: accumulated depreciation and amortization	(343,294		)	(86,173		)	(3,682		)	(433,149		)
	Real estate, net	$	1,267,952		$	640,183		$	805,835		$	2,713,970
	Real estate available and held for sale	—			204,653			130,038			334,691
	Total real estate	$	1,267,952		$	844,836		$	935,873		$	3,048,661
	As of December 31, 2013
	Land and land improvements	$	350,817		$	132,934		$	803,238		$	1,286,989
	Buildings and improvements	1,346,071			587,574			—			1,933,645
	Less: accumulated depreciation and amortization	(338,640		)	(82,420		)	(3,393		)	(424,453		)
	Real estate, net	$	1,358,248		$	638,088		$	799,845		$	2,796,181
	Real estate available and held for sale	—			228,328			132,189			360,517
	Total real estate	$	1,358,248		$	866,416		$	932,034		$	3,156,698
	Real estate available and held for sale—As of March 31, 2014 and December 31, 2013, the Company had $197.7 million and $221.0 million, respectively, of residential properties available for sale in its operating properties portfolio.
	Acquisitions—During the three months ended March 31, 2013, the Company acquired, via foreclosure, title to a residential operating property, which previously served as collateral for a loan receivable held by the Company. The Company contributed the residential operating property which had a fair value of $25.5 million, to an entity of which it owns 63%. Based on the control provisions in the partnership agreement, the Company consolidates the entity and reflects its partner's 37% share of equity in "Noncontrolling interests" on the Company's Consolidated Balance Sheets. The acquisition was accounted for at fair value. No gain or loss was recorded in conjunction with this transaction.
	Dispositions—During the three months ended March 31, 2014 and 2013, the Company sold residential condominiums for total net proceeds of $47.7 million and $75.2 million, respectively, and recorded income from sales of residential properties totaling $16.5 million and $23.7 million, respectively. During the three months ended March 31, 2014, the Company sold residential lots from two of our master planned community properties for proceeds of $4.1 million and which had cost of sales of $3.7 million. During the same period, the Company also sold properties with a carrying value of $6.7 million for proceeds that approximated carrying value.
	During the three months ended March 31, 2014, the Company sold a net lease asset for net proceeds of $93.7 million which approximated carrying value to a newly formed unconsolidated entity in which the Company has a noncontrolling equity interest of 51.9% (see Note 6).
	Additionally, during the three months ended March 31, 2014, the Company sold a net lease asset for net proceeds of $7.8 million. The Company recorded an impairment loss of $3.0 million in connection with the sale.
	During the three months ended March 31, 2013, the Company sold a commercial operating property with a carrying value of $24.1 million resulting in a net gain of $5.0 million. The gain was recorded as "Gain from discontinued operations" on the Company's Consolidated Statements of Operations.
	Discontinued Operations—The Company has elected to early adopt ASU 2014-08 beginning with disposals and classifications of assets as held for sale that occurred after December 31, 2013. During the three months ended March 31, 2014, there were no disposals or assets classified as held for sale which were individually significant or represented a strategic shift that has (or will have) a major effect on the Company's operations and financial results. For the three months ended March 31, 2013, income (loss) from discontinued operations was $1.2 million, which includes revenues of $2.4 million and expenses of $1.2 million.
	Tenant Reimbursements—The Company receives reimbursements from tenants for certain facility operating expenses including common area costs, insurance, utilities and real estate taxes. Tenant expense reimbursements for the three months ended March 31, 2014 and 2013 were $8.5 million and $7.7 million, respectively, and are included in “Operating lease income” on the Company's Consolidated Statements of Operations.
	Allowance for doubtful accounts—As of March 31, 2014 and December 31, 2013, the allowance for doubtful accounts related to real estate tenant receivables was $2.4 million and $3.4 million, respectively and the allowance for doubtful accounts related to deferred operating lease income was $2.1 million and $2.5 million, respectively.

Loans_Receivable_and_Other_Len

Loans Receivable and Other Lending Investments, net	3 Months Ended
	Mar. 31, 2014
Receivables [Abstract]	'
Loans Receivable and Other Lending Investments, net	'
	Loans Receivable and Other Lending Investments, net
	The following is a summary of the Company's loans receivable and other lending investments by class ($ in thousands):
		As of
	Type of Investment	March 31,				December 31,
		2014				2013
	Senior mortgages	$	1,103,471			$	1,071,662
	Subordinate mortgages	61,764				60,679
	Corporate/Partnership loans	527,865				473,045
	Total gross carrying value of loans	$	1,693,100			$	1,605,386
	Reserves for loan losses	(370,076		)		(377,204		)
	Total loans receivable, net	$	1,323,024			$	1,228,182
	Other lending investments—securities	153,466				141,927
	Total loans receivable and other lending investments, net(1)	$	1,476,490			$	1,370,109
	Explanatory Note:
	_______________________________________________________________________________
	-1	The Company's recorded investment in loans as of March 31, 2014 and December 31, 2013 also includes accrued interest of $7.6 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.
	During the three months ended March 31, 2013, the Company sold loans with total carrying values of $38.3 million, which resulted in a net realized loss of $0.6 million. Gains and losses on sales of loans are included in "Other income" on the Company's Consolidated Statements of Operations.
	Reserve for loan losses—Changes in the Company's reserve for loan losses were as follows ($ in thousands):
		For the Three Months Ended March 31,
		2014				2013
	Reserve for loan losses at beginning of period	$	377,204			$	524,499
	Provision for (recovery of) loan losses(1)	(3,400		)		10,206
	Charge-offs	(3,728		)		(12,910		)
	Reserve for loan losses at end of period	$	370,076			$	521,795
	Explanatory Note:
	_______________________________________________________________________________
	-1	For the three months ended March 31, 2014 and 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $5.2 million and $4.6 million, respectively.
	The Company's recorded investment in loans (comprised of a loan's carrying value plus accrued interest) and the associated reserve for loan losses were as follows ($ in thousands):
		Individually				Collectively				Loans Acquired				Total
		Evaluated for				Evaluated for				with Deteriorated
		Impairment(1)				Impairment(2)				Credit Quality(3)
	As of March 31, 2014
	Loans	$	687,812			$	1,003,264			$	9,586			$	1,700,662
	Less: Reserve for loan losses	(339,076		)		(31,000		)		—				(370,076		)
	Total	$	348,736			$	972,264			$	9,586			$	1,330,586
	As of December 31, 2013
	Loans	$	752,425			$	849,613			$	9,889			$	1,611,927
	Less: Reserve for loan losses	(348,004		)		(29,200		)		—				(377,204		)
	Total	$	404,421			$	820,413			$	9,889			$	1,234,723
	Explanatory Notes:
	_______________________________________________________________________________
	-1	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $0.2 million and a net premium of $0.5 million as of March 31, 2014 and December 31, 2013, respectively. The Company's loans individually evaluated for impairment primarily represent loans on non-accrual status and therefore, the unamortized amounts associated with these loans are not currently being amortized into income.
	-2	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $7.6 million and $4.6 million as of March 31, 2014 and December 31, 2013, respectively.
	-3	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net premium of $0.4 million and $0.4 million as of March 31, 2014 and December 31, 2013, respectively. These loans had cumulative principal balances of $9.9 million and $10.2 million, as of March 31, 2014 and December 31, 2013, respectively.
	Credit Characteristics—As part of the Company's process for monitoring the credit quality of its loans, it performs a quarterly loan portfolio assessment and assigns risk ratings to each of its performing loans. Risk ratings are based on judgments which are inherently uncertain and there can be no assurance that actual performance will not be different than current expectation.
	The Company's recorded investment in performing loans, presented by class and by credit quality, as indicated by risk rating, was as follows ($ in thousands):
		As of
		March 31, 2014							December 31, 2013
		Performing				Weighted			Performing				Weighted
		Loans				Average			Loans				Average
						Risk Ratings							Risk Ratings
	Senior mortgages	$	624,044			2.69			$	591,145			2.5
	Subordinate mortgages	62,449				3.4			61,364				3.37
	Corporate/Partnership loans	494,012				3.66			438,831				3.88
	Total	$	1,180,505			3.14			$	1,091,340			3.11
	As of March 31, 2014, the Company's recorded investment in loans, aged by payment status and presented by class, were as follows ($ in thousands):
		Current				Less Than				Greater				Total				Total
						and Equal				Than				Past Due
						to 90 Days				90 Days
	Senior mortgages	$	658,085			$	—			$	448,737			$	448,737			$	1,106,822
	Subordinate mortgages	62,449				—				—				—				62,449
	Corporate/Partnership loans	531,391				—				—				—				531,391
	Total	$	1,251,925			$	—			$	448,737			$	448,737			$	1,700,662
Impaired Loans—The Company's recorded investment in impaired loans, presented by class, were as follows ($ in thousands)(1):
	As of March 31, 2014												As of December 31, 2013
	Recorded				Unpaid				Related				Recorded				Unpaid				Related
	Investment				Principal				Allowance				Investment				Principal				Allowance
					Balance												Balance
With no related allowance recorded:
Senior mortgages	$	94,013			$	93,286			$	—			$	3,012			$	2,992			$	—
With an allowance recorded:
Senior mortgages	$	505,745			$	502,319			$	(297,173	)		$	650,337			$	645,463			$	(304,544	)
Corporate/Partnership loans	88,054				88,027				(41,903		)		99,076				99,067				(43,460		)
Subtotal	$	593,799			$	590,346			$	(339,076	)		$	749,413			$	744,530			$	(348,004	)
Total:
Senior mortgages	$	599,758			$	595,605			$	(297,173	)		$	653,349			$	648,455			$	(304,544	)
Corporate/Partnership loans	88,054				88,027				(41,903		)		99,076				99,067				(43,460		)
Total	$	687,812			$	683,632			$	(339,076	)		$	752,425			$	747,522			$	(348,004	)
Explanatory Note:
_______________________________________________________________________________
-1	All of the Company's non-accrual loans are considered impaired and included in the table above. In addition, as of March 31, 2014 and December 31, 2013, certain loans modified through troubled debt restructurings with a recorded investment of $167.7 million and $231.8 million, respectively, are also included as impaired loans in accordance with GAAP although they are performing and on accrual status.
The Company's average recorded investment in impaired loans and interest income recognized, presented by class, were as follows ($ in thousands):
	For the Three Months Ended March 31,
	2014								2013
	Average				Interest				Average				Interest
	Recorded				Income				Recorded				Income
	Investment				Recognized				Investment				Recognized
With no related allowance recorded:
Senior mortgages	$	48,512			$	501			$	63,394			$	844
Corporate/Partnership loans	—				—				10,110				120
Subtotal	$	48,512			$	501			$	73,504			$	964
With an allowance recorded:
Senior mortgages	$	578,041			$	53			$	911,082			$	506
Subordinate mortgages	—				—				53,888				—
Corporate/Partnership loans	93,565				65				62,326				78
Subtotal	$	671,606			$	118			$	1,027,296			$	584
Total:
Senior mortgages	$	626,553			$	554			$	974,476			$	1,350
Subordinate mortgages	—				—				53,888				—
Corporate/Partnership loans	93,565				65				72,436				198
Total	$	720,118			$	619			$	1,100,800			$	1,548
Troubled Debt Restructurings—During the three months ended March 31, 2014 the Company did not modify loans that were determined to be troubled debt restructurings. During the three months ended March 31, 2013, the Company modified one loan that was determined to be a troubled debt restructuring.
The recorded investment in this loan was impacted by the modification as follows, presented by class ($ in thousands):
	For the Three Months Ended March 31,
	2014											2013
	Number			Pre-Modification				Post-Modification				Number			Pre-Modification				Post-Modification
	of Loans			Outstanding				Outstanding				of Loans			Outstanding				Outstanding
				Recorded				Recorded							Recorded				Recorded
				Investment				Investment							Investment				Investment
Senior mortgages	—			$	—			$	—			1			$	72,674			$	65,000
During the three months ended March 31, 2013, the Company restructured one non-performing loan with a recorded investment of $72.7 million in which the Company received a $13.3 million paydown and accepted a discounted payoff option on this loan. At the time of the restructuring, the Company reclassified the loan from non-performing to performing status as the Company believed the borrower would perform under the modified terms of the agreement. The loan was repaid in January 2014 at the discounted payoff amount.
Generally when granting concessions, the Company will seek to protect its position by requiring incremental pay downs, additional collateral or guarantees and in some cases lookback features or equity kickers to offset concessions granted should conditions impacting the loan improve. The Company's determination of credit losses is impacted by troubled debt restructurings whereby loans that have gone through troubled debt restructurings are considered impaired, assessed for specific reserves, and are not included in the Company's assessment of general loan loss reserves. Loans previously restructured under troubled debt restructurings that subsequently default are reassessed to incorporate the Company's current assumptions on expected cash flows and additional provision expense is recorded to the extent necessary. As of March 31, 2014, the Company had $6.7 million of unfunded commitments associated with modified loans considered troubled debt restructurings.
Securities—As of March 31, 2014, other lending investments—securities includes the following ($ in thousands):
	Face Value				Amortized Cost Basis				Net Unrealized Gain (Loss)				Estimated Fair Value				Net Carrying Value
Available-for-Sale Securities
Municipal debt securities	$	1,040			$	1,040			$	47			$	1,087			$	1,087
Held-to-Maturity Securities
Corporate debt securities	149,176				152,379				—				152,379				152,379
Total	$	150,216			$	153,419			$	47			$	153,466			$	153,466

Other_Investments

Other Investments	3 Months Ended
	Mar. 31, 2014
Investments, All Other Investments [Abstract]	'
Other Investments	'
	Other Investments
	The Company's other investments and its proportionate share of results from equity method investments were as follows ($ in thousands):
		Carrying Value as of					Equity in Earnings for the
							Three Months Ended March 31,
		March 31, 2014			December 31, 2013		2014			2013
	Real estate equity investments	$	82,546		$	62,205	$	245		$	1,763
	Other equity method investments	46,605			45,954		1,036			1,753
	Madison Funds	45,520			67,782		(402		)	2,259
	Oak Hill Funds	20,810			21,366		2,298			1,157
	LNR	—			—		—			14,746
	Total equity method investments	$	195,481		$	197,307	$	3,177		$	21,678
	Other	9,616			9,902
	Total other investments	$	205,097		$	207,209
	LNR—In July 2010, the Company acquired an ownership interest of approximately 24% in LNR Property Corporation ("LNR"). LNR is a servicer and special servicer of commercial mortgage loans and CMBS and a diversified real estate investment, finance and management company. In the transaction, the Company and a group of investors, including other creditors of LNR, acquired 100% of the common stock of LNR in exchange for cash and the extinguishment of existing senior notes of LNR's parent holding company (the "Holdco Notes"). The Company contributed $100.0 million aggregate principal amount of Holdco Notes and $100.0 million in cash in exchange for an equity interest of $120.0 million.
	Beginning in September 2012, the Company and other owners of LNR entered into negotiations with potential purchasers of LNR. After an extensive due diligence and negotiation process, the LNR owners entered into a definitive contract to sell LNR in January 2013 at a fixed sale price which, from the Company's perspective, reflected in part the Company's then-current expectations about the future results of LNR and potential volatility in its business. The definitive sale contract provided that LNR would not make cash distributions to its owners during the fourth quarter of 2012 through the closing of the sale. Notwithstanding the fixed terms of the contract, our investment balance in LNR increased due to equity in earnings recorded which resulted in our recognition of other than temporary impairment on our investment during the year ended December 31, 2013. In April 2013, the Company completed the sale of its 24% equity interest in LNR and received $220.3 million in net proceeds. Approximately $25.2 million of net proceeds were placed in escrow for potential indemnification obligations, which was released to the Company in April 2014.
	The following table represents investee level summarized financial information for LNR ($ in thousands)(1):
		For the Three Months
		Ended December 31,
		2012
	Income Statements
	Total revenue(2)	$	77,780
	Income tax (expense) benefit	$	(279	)
	Net income attributable to LNR	$	189,249
	iStar's ownership percentage	24		%
	iStar's equity in earnings from LNR(3)	$	45,375
	Explanatory Notes:
	_______________________________________________________________________________
	-1	The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the three months ended March 31, 2013 were based on balances and results from LNR for the three months ended December 31, 2012.
	-2	LNR consolidates certain commercial mortgage-backed securities and collateralized debt obligation trusts that are considered VIEs (and for which it is the primary beneficiary), that have been included in the amounts presented above. For the three months ended December 31, 2012, total revenue presented above includes $29.3 million of servicing fee revenue that is eliminated upon consolidation of the VIE's at the LNR level. This income is then added back through consolidation at the LNR level as an adjustment to income allocable to noncontrolling entities and has no net impact on net income attributable to LNR.
	-3	During the three months ended March 31, 2013, the Company recorded an other than temporary impairment of $30.9 million.
	The following table reconciles the activity related to the Company's investment in LNR for the three months ended March 31, 2013 ($ in thousands):
		For the Three Months Ended March 31, 2013
	Carrying value of LNR at beginning of period	$	205,773
	Equity in earnings of LNR for the period	$	45,375		(a)
	Balance before other than temporary impairment	$	251,148
	Other than temporary impairment	$	(30,867	)	(b)
	Carrying value of LNR at end of period	$	220,281
	For the three months ended March 31, 2013, the amount that was recognized as income in the Company's Consolidated Statements of Operations is the sum of items (a) and (b), or $14.7 million.
	Madison Funds—As of March 31, 2014, the Company owned a 29.52% interest in Madison International Real Estate Fund II, LP, a 32.92% interest in Madison International Real Estate Fund III, LP and a 29.52% interest in Madison GP1 Investors, LP (collectively, the "Madison Funds"). The Madison Funds invest in ownership positions of entities that own real estate assets. The Company determined that these entities are variable interest entities and that the Company is not the primary beneficiary.
	Oak Hill Funds—As of March 31, 2014, the Company owned a 5.92% interest in OHA Strategic Credit Master Fund, L.P. ("OHASCF"). OHASCF was formed to acquire and manage a diverse portfolio of assets, investing in distressed, stressed and undervalued loans, bonds, equities and other investments. The Company determined that this entity is a variable interest entity and that the Company is not the primary beneficiary.
	Real estate equity investments—During the three months ended March 31, 2014, the Company sold a net lease asset for net proceeds of $93.7 million to a newly formed unconsolidated entity in which the Company contributed $17.7 million for a noncontrolling equity interest of approximately 51.9%. The Company partnered with a sovereign wealth fund to form the venture in which the partners plan to contribute up to an aggregate $500 million of equity to acquire and develop net lease assets over time. The Company is responsible for sourcing new opportunities and managing the venture and its assets in exchange for a promote and management fee. Several of the Company's senior executives whose time is substantially devoted to the net lease venture own a total of 0.6% equity ownership in the venture via co-investment. These executives are also entitled to an amount equal to 50% of any promote payment received based on the 47.5% partner's interest. As of March 31, 2014, the Company had a recorded equity interest of $17.1 million.
	In addition, as of March 31, 2014, the Company's other real estate equity investments included equity interests in real estate ventures ranging from 31% to 76%, comprised of investments of $16.4 million in net lease assets, $15.8 million in operating properties and $33.3 million in land assets. As of December 31, 2013, the Company's real estate equity investments included $16.4 million in net lease assets, $16.0 million in operating properties and $29.8 million in land assets. One of the Company's equity investments in operating properties represents a 33% interest in residential property units. For the three months ended March 31, 2013, the Company's earnings from its interest in this property includes income from sales of residential units of $2.5 million.
	Other investments—The Company also had smaller investments in real estate related funds and other strategic investments in several other entities that were accounted for under the equity method or cost method.

Other_Assets_and_Other_Liabili

Other Assets and Other Liabilities	3 Months Ended
	Mar. 31, 2014
Other Assets and Other Liabilities [Abstract]	'
Other Assets and Other Liabilities	'
	Other Assets and Other Liabilities
	Deferred expenses and other assets, net, consist of the following items ($ in thousands):
		As of
		March 31, 2014			December 31, 2013
	Intangible assets, net(1)	$	60,014		$	100,652
	Other receivables	25,939			34,655
	Deferred financing fees, net(2)	31,048			33,591
	Leasing costs, net(3)	22,240			21,799
	Corporate furniture, fixtures and equipment, net(4)	6,190			6,557
	Other assets	41,189			40,726
	Deferred expenses and other assets, net	$	186,620		$	237,980
	Explanatory Notes:
	_______________________________________________________________________________
	-1	Intangible assets, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible assets was $34.6 million and $38.1 million as of March 31, 2014 and December 31, 2013, respectively. The amortization of above market leases decreased operating lease income on the Company's Consolidated Statements of Operations by $2.3 million and $1.6 million for the three months ended March 31, 2014 and 2013, respectively. The amortization expense for other intangible assets was $2.5 million and $2.5 million for the three months ended March 31, 2014 and 2013, respectively. These amounts are included in “Depreciation and amortization” on the Company's Consolidated Statements of Operations.
	-2	Accumulated amortization on deferred financing fees was $11.5 million and $9.9 million as of March 31, 2014 and December 31, 2013, respectively.
	-3	Accumulated amortization on leasing costs was $7.0 million and $7.1 million as of March 31, 2014 and December 31, 2013, respectively.
	-4	Accumulated depreciation on corporate furniture, fixtures and equipment was $6.4 million and $6.2 million as of March 31, 2014 and December 31, 2013, respectively.
	Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands):
		As of
		March 31, 2014			December 31, 2013
	Accrued expenses	$	31,230		$	58,840
	Accrued interest payable	29,378			40,015
	Intangible liabilities, net(1)	13,619			26,223
	Other liabilities	37,968			45,753
	Accounts payable, accrued expenses and other liabilities	$	112,195		$	170,831
	Explanatory Note:
	_______________________________________________________________________________
	-1	Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $4.5 million and $4.6 million as of March 31, 2014 and December 31, 2013, respectively. The amortization of intangible liabilities increased operating lease income on the Company's Consolidated Statements of Operations by $0.7 million and $1.1 million for the three months ended March 31, 2014 and 2013, respectively.
	Deferred tax assets and liabilities of the Company's TRS entities were as follows ($ in thousands):
		As of
		March 31, 2014			31-Dec-13
	Deferred tax assets(1)	$	56,801		$	55,962
	Valuation allowance	(56,801		)	(55,962		)
	Net deferred tax assets (liabilities)	$	—		$	—
	Explanatory Note:
	_______________________________________________________________________________
	-1	Deferred tax assets as of March 31, 2014 include real estate basis differences of $33.3 million, net operating loss carryforwards of $16.0 million and investment basis differences of $7.5 million. Deferred tax assets as of December 31, 2013 include real estate basis differences of $33.0 million, net operating loss carryforwards of $14.9 million and investment basis differences of $8.1 million.

Debt_Obligations_net

Debt Obligations, net	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt Obligations, net	'
	Debt Obligations, net
	As of March 31, 2014 and December 31, 2013, the Company's debt obligations were as follows ($ in thousands):
		Carrying Value as of
		March 31,			December 31,			Stated			Scheduled
		2014			2013			Interest Rates			Maturity Date
	Secured credit facilities and term loans:
	2012 Tranche A-2 Facility	$	418,145		$	431,475		LIBOR + 5.75%		-1	Mar-17
	February 2013 Secured Credit Facility	1,333,372			1,379,407			LIBOR + 3.50%		-2	Oct-17
	Term loans collateralized by net lease assets	278,726			278,817			4.851% - 7.26%		-3	Various through 2026
	Total secured credit facilities and term loans	$	2,030,243		$	2,089,699
	Unsecured notes:
	6.05% senior notes	105,765			105,765			6.05	%		Apr-15
	5.875% senior notes	261,403			261,403			5.875	%		Mar-16
	3.875% senior notes	265,000			265,000			3.875	%		Jul-16
	3.0% senior convertible notes(4)	200,000			200,000			3	%		Nov-16
	1.50% senior convertible notes(5)	200,000			200,000			1.5	%		Nov-16
	5.85% senior notes	99,722			99,722			5.85	%		Mar-17
	9.0% senior notes	275,000			275,000			9	%		Jun-17
	7.125% senior notes	300,000			300,000			7.125	%		Feb-18
	4.875% senior notes	300,000			300,000			4.875	%		Jul-18
	Total unsecured notes	$	2,006,890		$	2,006,890
	Other debt obligations:
	Other debt obligations	$	100,000		$	100,000		LIBOR + 1.50%			Oct-35
	Total debt obligations	$	4,137,133		$	4,196,589
	Debt discounts, net	(35,083		)	(38,464		)
	Total debt obligations, net	$	4,102,050		$	4,158,125
	Explanatory Notes:
	_______________________________________________________________________________
	-1	These loans each have a LIBOR floor of 1.25%. As of March 31, 2014, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.
	-2	This loan has a LIBOR floor of 1.00%. As of March 31, 2014, inclusive of the floor, the February 2013 Secured Credit Facility incurred interest at a rate of 4.50%.
	-3	Includes a loan with a floating rate of LIBOR plus 2.00% and a loan with a floating rate of LIBOR plus 2.75%.
	-4	The Company's 3.0% senior convertible fixed rate notes due November 2016 ("3.0% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.0% Convertible Notes, at any time prior to the close of business on November 14, 2016.
	-5	The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at any time prior to the close of business on November 14, 2016.
	Future Scheduled Maturities—As of March 31, 2014, future scheduled maturities of outstanding long-term debt obligations are as follows ($ in thousands):
		Unsecured Debt			Secured Debt			Total
	2014 (remaining nine months)	$	—		$	23,603		$	23,603
	2015	105,765			—			105,765
	2016	926,403			—			926,403
	2017	374,722			1,751,517			2,126,239
	2018	600,000			16,611			616,611
	Thereafter	100,000			238,512			338,512
	Total principal maturities	$	2,106,890		$	2,030,243		$	4,137,133
	Unamortized debt discounts, net	(10,430		)	(24,653		)	(35,083		)
	Total long-term debt obligations, net	$	2,096,460		$	2,005,590		$	4,102,050
	February 2013 Secured Credit Facility—On February 11, 2013, the Company entered into a $1.71 billion senior secured credit facility due October 15, 2017 (the “February 2013 Secured Credit Facility”) that amended and restated its $1.82 billion senior secured credit facility, dated October 15, 2012 (the “October 2012 Secured Credit Facility”). The February 2013 Credit Facility amended the October 2012 Secured Credit Facility by: (i) reducing the interest rate from LIBOR plus 4.50%, with a 1.25% LIBOR floor, to LIBOR plus 3.50%, with a 1.00% LIBOR floor; and (ii) extending the call protection period for the lenders from October 15, 2013 to December 31, 2013.
	Borrowings under the February 2013 Secured Credit Facility are collateralized by a first lien on a fixed pool of assets, with required minimum collateral coverage of not less than 125% of outstanding borrowings. If collateral coverage is less than 137.5% of outstanding borrowings, 100% of the proceeds from principal repayments and sales of collateral will be applied to repay outstanding borrowings under the February 2013 Secured Credit Facility. For so long as collateral coverage is between 137.5% and 150% of outstanding borrowings, 50% of proceeds from principal repayments and sales of collateral will be applied to repay outstanding borrowings under the February 2013 Secured Credit Facility and for so long as collateral coverage is greater than 150% of outstanding borrowings, the Company may retain all proceeds from principal repayments and sales of collateral. The Company retains proceeds from interest, rent, lease payments and fee income in all cases. At March 31, 2014, the Company's collateral coverage on the February 2013 Secured Credit Facility exceeded 137.5%.
	In connection with the February 2013 Secured Credit Facility transaction, the Company incurred $17.1 million of lender fees, of which $14.4 million was capitalized in "Debt Obligations, net" on the Company's Consolidated Balance Sheets and $2.7 million was recorded as a loss in "Gain (loss) on early extinguishment of debt, net" on the Company's Consolidated Statements of Operations as it related to the lenders who did not participate in the new facility. The Company also incurred $3.8 million in third party fees, of which $3.6 million was recognized in “Other expense” on the Company's Consolidated Statements of Operations, as it related primarily to those lenders from the original facility that modified their debt under the new facility, and $0.2 million was recorded in “Deferred expenses and other assets, net” on the Company's Consolidated Balance Sheets, as it related to the new lenders.
	Through March 31, 2014, the Company has made cumulative amortization repayments of $373.6 million on the February 2013 Secured Credit Facility bringing the outstanding balance to $1.33 billion. Repayments of the February 2013 Secured Credit Facility prior to the scheduled maturity date have resulted in losses on early extinguishment of debt of $0.9 million for the three months ended March 31, 2014 related to the accelerated amortization of discounts and unamortized deferred financing fees on the portion of the facility that was repaid. The remaining $25.6 million of unamortized fees and discounts from the October 2012 Secured Credit Facility outstanding at the time of refinancing will continue to be amortized into interest expense over the remaining term of the February 2013 Secured Credit Facility.
	March 2012 Secured Credit Facilities—In March 2012, the Company entered into an $880.0 million senior secured credit agreement providing for two tranches of term loans: a $410.0 million 2012 A-1 tranche due March 2016, which bears interest at a rate of LIBOR + 4.00% (the "2012 Tranche A-1 Facility"), and a $470.0 million 2012 A-2 tranche due March 2017, which bears interest at a rate of LIBOR + 5.75% (the "2012 Tranche A-2 Facility," together the "March 2012 Secured Credit Facilities"). The 2012 A-1 and A-2 tranches were issued at 98.0% of par and 98.5% of par, respectively, and both tranches include a LIBOR floor of 1.25%. Proceeds from the March 2012 Secured Credit Facilities, together with cash on hand, were used to repurchase and repay at maturity $606.7 million aggregate principal amount of the Company's convertible notes due October 2012, to fully repay the $244.0 million balance on the Company's unsecured credit facility due June 2012, and to repay, upon maturity, $90.3 million outstanding principal balance of its 5.50% senior unsecured notes.
	The March 2012 Secured Credit Facilities are collateralized by a first lien on a fixed pool of assets. Proceeds from principal repayments and sales of collateral are applied to amortize the March 2012 Secured Credit Facilities. Proceeds received for interest, rent, lease payments and fee income are retained by the Company. The 2012 Tranche A-1 Facility required amortization payments of $41.0 million to be made every six months beginning December 31, 2012. The 2012 Tranche A-1 Facility was fully repaid in August 2013. Proceeds from principal repayments and sales of collateral will be used to amortize the 2012 Tranche A-2 Facility. The Company may make optional prepayments on each tranche of term loans, subject to prepayment fees. Repayments of the 2012 Tranche A-1 Facility prior to scheduled amortization dates resulted in losses on early extinguishment of debt of $3.0 million during the three months ended March 31, 2013 related to the accelerated amortization of discounts and unamortized deferred financing fees on the portion of the facility that was repaid.
	Additionally, through March 31, 2014, the Company made cumulative amortization repayments of $51.9 million on the 2012 Tranche A-2 Facility. For the three months ended March 31, 2014, repayments of the 2012 Tranche A-2 Facility prior to maturity resulted in losses on early extinguishment of debt of $0.3 million related to the accelerated amortization of discounts and unamortized deferred financing fees on the portion of the facility that was repaid.
	Encumbered/Unencumbered Assets—As of March 31, 2014 and December 31, 2013, the carrying value of the Company's encumbered and unencumbered assets by asset type are as follows ($ in thousands):
		As of
		31-Mar-14						31-Dec-13
		Encumbered Assets			Unencumbered Assets			Encumbered Assets				Unencumbered Assets
	Real estate, net	$	1,589,847		$	1,124,123		$	1,644,463			$	1,151,718
	Real estate available and held for sale	129,005			205,686			152,604				207,913
	Loans receivable and other lending investments, net(1)	836,572			670,918			860,557				538,752
	Other investments	21,034			184,063			24,093				183,116
	Cash and other assets	—			757,467			—				907,995
	Total	$	2,576,458		$	2,942,257		$	2,681,717			$	2,989,494
	Explanatory Note:
	_______________________________________________________________________________
-1	As of March 31, 2014 and December 31, 2013, the amounts presented exclude general reserves for loan losses of $31.0 million and $29.2 million, respectively.
Debt Covenants
The Company's outstanding unsecured debt securities contain corporate level covenants that include a covenant to maintain a ratio of unencumbered assets to unsecured indebtedness of at least 1.2x and a restriction on debt incurrence based upon the effect of the debt incurrence on the Company's fixed charge coverage ratio. If any of the Company's covenants are breached and not cured within applicable cure periods, the breach could result in acceleration of its debt securities unless a waiver or modification is agreed upon with the requisite percentage of the bondholders. While the Company expects that its ability to incur new indebtedness under the fixed charge coverage ratio will be limited for the foreseeable future, which may put limitations on its ability to make new investments, it will continue to be permitted to incur indebtedness for the purpose of refinancing existing indebtedness and for other permitted purposes under the indentures.
The Company's March 2012 Secured Credit Facilities and February 2013 Secured Credit Facility are collectively defined as the "Secured Credit Facilities." The Company's Secured Credit Facilities contain certain covenants, including covenants relating to collateral coverage, dividend payments, restrictions on fundamental changes, transactions with affiliates, matters relating to the liens granted to the lenders and the delivery of information to the lenders. In particular, the Company is required to maintain collateral coverage of 1.25x outstanding borrowings. In addition, for so long as the Company maintains its qualification as a REIT, the Secured Credit Facilities permit the Company to distribute 100% of its REIT taxable income on an annual basis and the February 2013 Secured Credit Facility permits the Company to distribute to its shareholders real estate assets, or interests therein, having an aggregate equity value not to exceed $200 million, so long as such assets are not collateral for the February 2013 Secured Credit Facility. The Company may not pay common dividends if it ceases to qualify as a REIT (except that the February 2013 Secured Credit Facility permits the Company to distribute certain real estate assets as described in the preceding sentence).
The Company's Secured Credit Facilities contain cross default provisions that would allow the lenders to declare an event of default and accelerate the Company's indebtedness to them if the Company fails to pay amounts due in respect of its other recourse indebtedness in excess of specified thresholds or if the lenders under such other indebtedness are otherwise permitted to accelerate such indebtedness for any reason. The indentures governing the Company's unsecured public debt securities permit the bondholders to declare an event of default and accelerate the Company's indebtedness to them if the Company's other recourse indebtedness in excess of specified thresholds is not paid at final maturity or if such indebtedness is accelerated.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Unfunded Commitments—The Company generally funds construction and development loans and build-outs of space in net lease assets over a period of time if and when the borrowers and tenants meet established milestones and other performance criteria. The Company refers to these arrangements as Performance-Based Commitments. In addition, the Company sometimes establishes a maximum amount of additional funding which it will make available to a borrower or tenant for an expansion or addition to a project if it approves of the expansion or addition in its sole discretion. The Company refers to these arrangements as Discretionary Fundings. Finally, the Company has committed to invest capital in several real estate funds and other ventures. These arrangements are referred to as Strategic Investments.
	As of March 31, 2014, the maximum amount of fundings the Company may be required to make under each category, assuming all performance hurdles and milestones are met under the Performance-Based Commitments, that it approves all Discretionary Fundings and that 100% of its capital committed to Strategic Investments is drawn down, are as follows ($ in thousands):
		Loans and Other Lending Investments		Real Estate		Strategic		Total
						Investments
	Performance-Based Commitments	$	233,015	$	51,759	$	—	$	284,774
	Discretionary Fundings	—		—		—		—
	Strategic Investments	—		—		46,382		46,382
	Total	$	233,015	$	51,759	$	46,382	$	331,156
	Legal Proceedings—The Company and/or one or more of its subsidiaries is party to various pending litigation matters that are considered ordinary routine litigation incidental to the Company's business as a finance and investment company focused on the commercial real estate industry, including loan foreclosure and foreclosure-related proceedings. In addition to such matters, the Company is a party to the following legal proceeding:
	On March 7, 2014, a shareholder action purporting to assert derivative, class and individual claims was filed in the Circuit Court for Baltimore City, Maryland naming the Company, a number of our current and former senior executives (including our chief executive officer) and current and former directors as defendants.  The complaint seeks unspecified damages and other relief and alleges breach of fiduciary duty, breach of contract and other causes of action arising out of shares of our common stock issued by the Company to our senior executives pursuant to restricted stock unit awards granted in December 2008 and modified in July 2011. We believe the claims have no merit and we intend to defend the action vigorously.
	The Company evaluates, on a quarterly basis, developments in legal proceedings that could require a liability to be accrued and/or disclosed. Based on its current knowledge, and after consultation with legal counsel, the Company believes it is not a party to, nor are any of its properties the subject of, any pending legal proceeding that would have a material adverse effect on the Company's Consolidated Financial Statements.

Derivatives

Derivatives

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

'

Derivatives

'

Derivatives

The Company's use of derivative financial instruments is primarily limited to the utilization of interest rate swaps, interest rate caps and foreign exchange contracts. The principal objective of such financial instruments is to minimize the risks and/or costs associated with the Company's operating and financial structure and to manage its exposure to interest rates and foreign exchange rates. Derivatives not designated as hedges are not speculative and are used to manage the Company's exposure to interest rate movements, foreign exchange rate movements, and other identified risks, but may not meet the strict hedge accounting requirements.

The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013 ($ in thousands):

Derivative Assets as of

Derivative Liabilities as of

March 31, 2014

December 31, 2013

March 31, 2014

December 31, 2013

Derivative

Balance Sheet

Fair

Balance Sheet

Fair

Balance Sheet

Fair

Balance Sheet

Fair

Location

Value

Location

Value

Location

Value

Location

Value

Foreign exchange contracts

Other Assets

$

1,467

Other Assets

$

1,418

Other Liabilities

$

1,623

Other Liabilities

$

1,653

Interest rate swap

Other Assets

488

Other Assets

650

N/A

—

N/A

—

Interest rate cap

Other Assets

8,144

Other Assets

9,107

N/A

—

N/A

—

Total

$

10,099

$

11,175

$

1,623

$

1,653

The tables below present the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2014 and 2013 ($ in thousands):

Derivatives Designated in Hedging Relationships

Location of Gain (Loss)

Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)

Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)

Amount of Gain (Loss) Recognized in Earnings (Ineffective Portion)

Recognized in Income

For the three months ended March 31, 2014

Interest rate cap

Interest Expense

$

(962

)

$

—

N/A

Interest rate swap

Interest Expense

$

(348

)

$

135

N/A

Foreign exchange contracts

Other Expense

$

(452

)

$

—

N/A

For the three months ended March 31, 2013

Interest rate swap

Interest Expense

$

37

$

74

N/A

Foreign exchange contracts—The Company is exposed to fluctuations in foreign exchange rates on investments it holds in foreign entities. The Company uses foreign exchange contracts to hedge its exposure to changes in foreign exchange rates on its foreign investments. Foreign exchange contracts involve fixing the U.S. dollar ("USD") to the respective foreign currency exchange rate for delivery of a specified amount of foreign currency on a specified date. The foreign exchange contracts are typically cash settled in USD for their fair value at or close to their settlement date.

For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in Accumulated Other Comprehensive Income as part of the cumulative translation adjustment. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of Accumulated Other Comprehensive Income into earnings when the hedged net investment is either sold or substantially liquidated. During the three months ended March 31, 2014, the Company entered into a foreign exchange contract to hedge its exposure in a subsidiary whose functional currency is Indian rupee ("INR").  The foreign exchange contract replaced an existing contract which matured in January 2014.

As of March 31, 2014, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were designated ($ in thousands):

Derivative Type

Notional

Notional

Maturity

Amount

(USD Equivalent)

Sells INR/Buys USD Forward

₨

456,000

$

7,614

Jun-15

For derivatives not designated as net investment hedges, the changes in the fair value of the derivatives are reported in the Consolidated Statements of Operations within other expense. As of March 31, 2014, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were not designated ($ in thousands):

Derivative Type

Notional

Notional

Maturity

Amount

(USD Equivalent)

Sells euro ("EUR")/Buys USD Forward

€

72,200

$

99,479

Apr-14

Sells pound sterling ("GBP")/Buys USD Forward

£

3,800

$

6,335

Apr-14

Sells Canadian dollar ("CAD")/Buys USD Forward

C$

41,500

$

37,564

Apr-14

Amount of Gain or (Loss)

Recognized in Income

Location of Gain or

For the Three Months Ended March 31,

(Loss) Recognized in

Derivatives not Designated in Hedging Relationships

Income

2014

2013

Foreign Exchange Contracts

Other Expense

$

1,498

$

10,156

The Company marks its foreign investments each quarter based on current exchange rates and records the gain or loss through “Other expense” on its Consolidated Statements of Operations for loan investments or “Accumulated other comprehensive income (loss),” on its Consolidated Balance Sheets for net investments in foreign subsidiaries. During the three months ended March 31, 2014 and 2013, the Company recorded net gains related to foreign investments of $0.3 million and $0.1 million, respectively, in its Consolidated Statements of Operations.

Qualifying cash flow hedges—In August 2013, the Company entered into an interest rate cap agreement to reduce exposure to expected increases in future interest rates and the resulting payments associated with variable interest rate debt. In October 2012, the Company entered into an interest rate swap to convert its variable rate debt to fixed rate on a $28.0 million secured term loan maturing in 2019. The following table presents the Company's qualifying cash flow hedges outstanding as of March 31, 2014 ($ in thousands).

Derivative Type

Notional

Variable Rate

Fixed Rate

Effective Date

Maturity

Amount

Interest Rate Cap

$

500,000

LIBOR

1.00%

Jul-14

Jul-17

Interest Rate Swap

$

27,831

LIBOR + 2.00%

3.47%

Oct-12

Nov-19

Over the next 12 months, the Company expects that $0.6 million will be reclassified to interest expense from cash flow hedges and $0.5 million will be reclassified to income related to terminated cash flow hedges from "Accumulated other comprehensive income (loss)" into earnings.

Credit risk-related contingent features—The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations.

In connection with its foreign currency derivatives, as of March 31, 2014 and December 31, 2013, the Company has posted collateral of $7.2 million and $7.2 million, respectively, which is included in "Restricted cash" on the Company's Consolidated Balance Sheets.

Equity

Equity	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Equity	'
	Equity
	Preferred Stock—The Company had the following series of Cumulative Redeemable Preferred Stock outstanding as of March 31, 2014 and December 31, 2013:
								Cumulative Preferential Cash
								Dividends(1)(2)
	Series		Shares Issued and		Par Value			Liquidation Preference	Rate per Annum		Equivalent to
			Outstanding								Fixed Annual
			(in thousands)								Rate (per share)
	D		4,000		$	0.001		$25.00	8	%	$	2
	E		5,600		$	0.001		$25.00	7.875	%	$	1.97
	F		4,000		$	0.001		$25.00	7.8	%	$	1.95
	G		3,200		$	0.001		$25.00	7.65	%	$	1.91
	I		5,000		$	0.001		$25.00	7.5	%	$	1.88
	J		4,000		$	0.001		$50.00	4.5	%	$	2.25
			25,800
	Explanatory Notes:
	_______________________________________________________________________________
	-1	Holders of shares of the Series D, E, F, G, I and J preferred stock are entitled to receive dividends, when and as declared by the Board of Directors, out of funds legally available for the payment of dividends. Dividends are cumulative from the date of original issue and are payable quarterly in arrears on or before the 15th day of each March, June, September and December or, if not a business day, the next succeeding business day. Any dividend payable on the preferred stock for any partial dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends will be payable to holders of record as of the close of business on the first day of the calendar month in which the applicable dividend payment date falls or on another date designated by the Board of Directors of the Company for the payment of dividends that is not more than 30 nor less than 10 days prior to the dividend payment date.
	-2	The Company declared and paid dividends of $2.0 million, $2.8 million, $2.0 million, $1.5 million and $2.3 million on its Series D, E, F, G and I preferred stock during the three months ended March 31, 2014 and 2013. The Company declared and paid dividends of $2.3 million on its Series J preferred stock during the three months ended March 31, 2014. All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding.
	In March 2013, the Company completed a public offering of $200.0 million of its 4.5% Series J Cumulative Convertible Perpetual Preferred Stock, having a liquidation preference of $50.00 per share. Each share of the Series J Preferred Stock is convertible at the holder's option at any time, initially into 3.9087 shares of the Company's common stock (equal to an initial conversion price of approximately $12.79 per share), subject to specified adjustments. The Company may not redeem the Series J Preferred Stock prior to March 15, 2018. On or after March 15, 2018, the Company may, at its option, redeem the Series J Preferred Stock, in whole or in part, at any time and from time to time, for cash at a redemption price equal to 100% of the liquidation preference of $50.00 per share, plus accrued and unpaid dividends, if any, to the redemption date.
	The Series D, E, F, G and I Cumulative Redeemable Preferred Stock are redeemable without premium at the option of the Company at their respective liquidation preferences.
	Dividends—In order to maintain its election to qualify as a REIT, the Company must currently distribute, at a minimum, an amount equal to 90% of its taxable income, excluding net capital gains, and must distribute 100% of its taxable income (including net capital gains) to avoid paying corporate federal income taxes. The Company has recorded net operating losses and may record net operating losses in the future, which may reduce its taxable income in future periods and lower or eliminate entirely the Company's obligation to pay dividends for such periods in order to maintain its REIT qualification. As of March 31, 2014, the Company had $608.0 million of net operating loss carryforwards based on its most recently filed tax return at the corporate REIT level that can generally be used to offset both ordinary and capital taxable income in future years and will expire through 2032 if unused. The amount of net operating loss carryforwards as of December 31, 2013 will be subject to finalization of the 2013 tax returns. Because taxable income differs from cash flow from operations due to non-cash revenues and expenses (such as depreciation and certain asset impairments), in certain circumstances, the Company may generate operating cash flow in excess of its dividends or, alternatively, may need to make dividend payments in excess of operating cash flows. The Company's 2013 and 2012 Secured Credit Facilities permit the Company to distribute 100% of its REIT taxable income on an annual basis, for so long as the Company maintains its qualification as a REIT. The 2013 and 2012 Secured Credit Facilities restrict the Company from paying any common dividends if it ceases to qualify as a REIT. The Company did not declare or pay any Common Stock dividends for the three months ended March 31, 2014 and 2013.
	Stock Repurchase Programs—On May 15, 2012, the Company's Board of Directors approved a stock repurchase program that authorized the repurchase of up to $20.0 million of its Common Stock from time to time in open market and privately negotiated purchases, including pursuant to one or more trading plans. In September 2013, the Company's Board of Directors approved an increase in the repurchase limit to $50.0 million from the $16.0 million that remained from the previously approved program. There were no stock repurchases during the three months ended March 31, 2014. As of March 31, 2014, the Company had remaining authorization to repurchase up to $29.0 million of Common Stock out of the $50.0 million authorized by its Board in 2013.
	Accumulated Other Comprehensive Income (Loss)—"Accumulated other comprehensive income (loss)" reflected in the Company's shareholders' equity is comprised of the following ($ in thousands):
		As of
		March 31, 2014			December 31, 2013
	Unrealized losses on available-for-sale securities	$	(226	)	$	(294	)
	Unrealized gains (losses) on cash flow hedges	(965		)	662
	Unrealized losses on cumulative translation adjustment	(4,481		)	(4,644		)
	Accumulated other comprehensive income (loss)	$	(5,672	)	$	(4,276	)

StockBased_Compensation_Plans_

Stock-Based Compensation Plans and Employee Benefits	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-Based Compensation Plans and Employee Benefits	'
	Stock-Based Compensation Plans and Employee Benefits
	Stock-based Compensation—The Company recorded stock-based compensation expense of $2.1 million and $5.2 million for the three months ended March 31, 2014 and 2013, respectively, in "General and administrative" on the Company's Consolidated Statements of Operations. As of March 31, 2014, there was $5.0 million of total unrecognized compensation cost related to all unvested restricted stock units that are expected to be recognized over a weighted average remaining vesting/service period of 0.86 years. As of March 31, 2014, approximately $0.6 million of stock-based compensation was included in "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets.
	As of March 31, 2014, an aggregate of 4.0 million shares remain available for issuance pursuant to future awards under the Company's 2006 and 2009 Long-Term Incentive Plans.
	2014 Activity—During the three months ended March 31, 2014, 1,736,053 restricted stock units, or Units, that were previously granted became vested, resulting in the issuance of 898,598 shares of our Common Stock to employees, net of statutory minimum required tax withholdings. These vested Units were comprised of 1,696,053 Units which vested in January 2014, and 40,000 service-based Units granted to certain employees in March 2011 that cliff vested in March 2014. In addition, 229,235 fully-vested shares of our Common Stock were granted to employees in January 2014, subject to restrictions on transfer, pursuant to our annual incentive award program which included a mix of cash and equity awards (see below).
	During the three months ended March 31, 2014, the Company granted stock-based compensation awards to certain employees in the form of annual incentive awards and long-term incentive awards:
	Effective January 10, 2014, the Company granted 229,235 shares of our Common Stock to certain employees as part of annual incentive awards which included a mix of cash and equity awards. The shares are fully-vested and were issued net of statutory minimum required tax withholdings. The employees are restricted from selling these shares for up to two years from the date of grant.
	Effective January 10, 2014, the Company also granted 67,637 service-based Units representing the right to receive an equivalent number of shares of our Common Stock (after deducting shares for minimum required statutory withholdings) if and when the Units vest. The Units will cliff vest in one installment three years from the grant date, if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue but will not be paid unless and until the Units vest and are settled. As of March 31, 2014, 66,564 of such service-based Units were outstanding.
	Effective January 10, 2014, the Company also granted 51,726 target amount of performance-based Units based on the Company's total shareholder return, or TSR, measured over a performance period ending on December 31, 2016, which is the vesting date. Vesting will range from 0% to 200% of the target amount of the award, depending on the Company's TSR performance relative to the NAREIT All REITs Index (one-half of the target amount of the award) and the Russell 2000 Index (one-half of the target amount of the award). The Company as well as any companies not included in the index at the beginning and end of the performance period are excluded from calculation of the performance of such index. To the extent Units vest based on the Company's TSR performance, holders will receive an equivalent number of shares of our Common Stock (after deducting shares for minimum required statutory withholdings), if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue but will not be paid unless and until the Units vest and are settled. The fair values of the performance-based Units were determined by utilizing a Monte Carlo model to simulate a range of possible future stock prices for the Company's Common Stock. The assumptions used to estimate the fair value of these performance-based awards were 0.76% for risk-free interest rate and 44.84% for expected stock price volatility. As of March 31, 2014, 51,458 Units were outstanding.
	As of March 31, 2014, the Company had the following additional stock-based compensation awards outstanding:
	•	195,382 service-based Units, granted on February 1, 2013, representing the right to receive an equivalent number of shares of our Common Stock (after deducting shares for minimum required statutory withholdings) if and when the Units vest. The Units will cliff vest in one installment on February 1, 2016, three years from the grant date, if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue but will not be paid unless and until the Units vest and are settled.
	•	195,209 target amount of performance-based Units, granted on February 1, 2013, representing the right to receive shares of our Common Stock (after deducting shares for minimum required statutory withholdings) if and when the Units vest based on the Company's total shareholder return, or TSR, measured over a performance period ending on the vesting date of December 31, 2014, which is the vesting date. Vesting will range from 0% to 200% of the target amount of the awards, depending on the Company's TSR performance relative to the NAREIT All REITs Index (one-half of the target amount of the award) and the Russell 2000 Index (one-half of the target amount of the award). The Company and any companies not included in the index at the beginning and end of the performance period are excluded from calculation of the performance of such index. To the extent these Units vest based on the Company's TSR performance, holders will receive an equivalent number of shares of our Common Stock (after deducting shares for minimum required statutory withholdings), if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue but will not be paid unless and until the Units vest and are settled. The fair values of the performance-based Units were determined by utilizing a Monte Carlo model to simulate a range of possible future stock prices for the Company's Common Stock. The assumptions used to estimate the fair value of these performance-based awards were 0.26% for risk-free interest rate and 50.44% for expected stock price volatility.
	•	600,000 service-based Units granted to the Company's Chairman and Chief Executive Officer in October 2011 that will vest on June 15, 2014. Upon vesting of these Units, the holder will receive shares of the Company's Common Stock in the amount of the vested Units, net of statutory minimum required tax withholdings. These awards carry dividend equivalent rights that entitle the holder to receive dividend payments prior to vesting, if and when dividends are paid on shares of the Company's Common Stock.
	•	50,666 service-based Units granted on various dates to employees with an original vesting term of three years. Upon vesting of these units, holders will receive shares of the Company's Common Stock in the amount of the vested units, net of statutory minimum required tax withholdings. These awards carry dividend equivalent rights that entitle the holders to receive dividend payments prior to vesting, if and when dividends are paid on shares of the Company's Common Stock.
	Directors' Awards—During the three months ended March 31, 2014, the Company issued 55,076 shares of our Common Stock to a former director in settlement of previously vested common stock equivalent, or CSE, awards granted under the Non-Employee Directors Deferral Plan. As of March 31, 2014, a total of 312,058 CSEs and restricted shares of our Common Stock granted to members of the Company's Board of Directors remained outstanding under such Plan, with an aggregate intrinsic value of $4.6 million.
	401(k) Plan—The Company made gross contributions of approximately $0.6 million and $0.5 million for the three months ended March 31, 2014 and 2013, respectively.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings Per Share
	EPS is calculated using the two-class method, which allocates earnings among common stock and participating securities to calculate EPS when an entity's capital structure includes either two or more classes of common stock or common stock and participating securities. HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit (HPU) Program. These HPU units are treated as a separate class of common stock.
	The following table presents a reconciliation of income (loss) from continuing operations used in the basic and diluted earnings per share calculations ($ in thousands, except for per share data):
			For the Three Months Ended
			March 31,
			2014				2013
	Income (loss) from continuing operations		$	(30,671	)		$	(62,240	)
	Net (income) loss attributable to noncontrolling interests		(454		)		189
	Income from sales of residential property		16,494				23,697
	Preferred dividends		(12,830		)		(10,580		)
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders		$	(27,461	)		$	(48,934	)
	Earnings allocable to common shares:
	Numerator for basic and diluted earnings per share:
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders	$	(26,572	)		$	(47,350	)
	Income (loss) from discontinued operations	—				1,206
	Gain from discontinued operations	—				4,881
	Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders	$	(26,572	)		$	(41,263	)
	Denominator for basic and diluted earnings per share:
	Weighted average common shares outstanding for basic and diluted earnings per common share	84,819				84,824
	Basic and diluted earnings per common share:
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders	$	(0.31	)		$	(0.56	)
	Income (loss) from discontinued operations	—				0.01
	Gain from discontinued operations	—				0.06
	Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders	$	(0.31	)		$	(0.49	)
		For the Three Months Ended
		March 31,
		2014				2013
	Earnings allocable to High Performance Units:
	Numerator for basic and diluted earnings per HPU share:
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders	$	(889	)		$	(1,584	)
	Income (loss) from discontinued operations	—				40
	Gain from discontinued operations	—				163
	Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders	$	(889	)		$	(1,381	)
	Denominator for basic and diluted earnings per HPU share:
	Weighted average High Performance Units outstanding for basic and diluted earnings per share	15				15
	Basic and diluted earnings per HPU share:
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders	$	(59.27	)		$	(105.61	)
	Income (loss) from discontinued operations	—				2.67
	Gain from discontinued operations	—				10.87
	Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders	$	(59.27	)		$	(92.07	)
	For the three months ended March 31, 2014 and 2013, the following shares were not included in the diluted EPS calculation because they were anti-dilutive ($ in thousands):
		For the Three Months Ended
		March 31,
		2014				2013
	Joint venture shares	$	298			$	298
	3.00% convertible senior unsecured notes	$	16,992			$	16,992
	Series J convertible perpetual preferred stock	$	15,635			$	15,635
	1.50% convertible senior unsecured notes	$	11,567			$	—

Fair_Values

Fair Values	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Values	'
	Fair Values
	Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following fair value hierarchy prioritizes the inputs to be used in valuation techniques to measure fair value:
	Level 1:    Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
	Level 2:    Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
	Level 3:    Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).
	Certain of the Company's assets and liabilities are recorded at fair value either on a recurring or non-recurring basis. Assets required to be marked-to-market and reported at fair value every reporting period are classified as being valued on a recurring basis. Assets not required to be recorded at fair value every period may be recorded at fair value if a specific provision or other impairment is recorded within the period to mark the carrying value of the asset to market as of the reporting date. Such assets are classified as being valued on a non-recurring basis.
	The following fair value hierarchy table summarizes the Company's assets and liabilities recorded at fair value on a recurring and non-recurring basis by the above categories ($ in thousands):
				Fair Value Using
		Total		Quoted market		Significant other		Significant
				prices in		observable		unobservable
				active markets		inputs		inputs
				(Level 1)		(Level 2)		(Level 3)
	As of March 31, 2014
	Recurring basis:
	Derivative assets	$	10,099	$	—	$	10,099	$	—
	Derivative liabilities	$	1,623	$	—	$	1,623	$	—
	Non-recurring basis:
	Impaired loans(1)	$	136,536	$	—	$	—	$	136,536
	As of December 31, 2013
	Recurring basis:
	Derivative assets	$	11,175	$	—	$	11,175	$	—
	Derivative liabilities	$	1,653	$	—	$	1,653	$	—
	Non-recurring basis:
	Impaired loans	$	115,423	$	—	$	—	$	115,423
	Impaired real estate	$	35,680	$	—	$	5,744	$	29,936
	Explanatory Notes:
	_______________________________________________________________________________
	-1	The Company recorded a recovery on three loans with a combined fair value of $136.5 million based on the loans' remaining weighted average term of 1.2 years and weighted average discount rate of 7.3% using discounted cash flow analysis.
	Fair values of financial instruments—The Company's estimated fair values of its loans receivable and other lending investments and debt obligations were $1.5 billion and $4.4 billion, respectively, as of March 31, 2014 and $1.4 billion and $4.5 billion, respectively, as of December 31, 2013. The Company determined that the significant inputs used to value its loans receivable and other lending investments and debt obligations fall within Level 3 of the fair value hierarchy. The carrying value of other financial instruments including cash and cash equivalents, restricted cash, accrued interest receivable and accounts payable, approximate the fair values of the instruments. Cash and cash equivalents and restricted cash values are considered Level 1 on the fair value hierarchy. The fair value of other financial instruments, including derivative assets and liabilities, are included in the fair value hierarchy table above.

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting	'
	Segment Reporting
	The Company has determined that it has four reportable segments based on how management reviews and manages its business. These reportable segments include: Real Estate Finance, Net Lease, Operating Properties and Land. The Real Estate Finance segment includes all of the Company's activities related to senior and mezzanine real estate loans and real estate related securities. The Net Lease segment includes all of the Company's activities related to the ownership and leasing of corporate facilities. The Operating Properties segment includes all of the Company's activities and operations related to its commercial and residential properties. The Land segment includes the Company's activities related to its developable land portfolio.
	The Company evaluates performance based on the following financial measures for each segment. The Company's segment information is as follows ($ in thousands):
		Real Estate Finance			Net Lease			Operating Properties			Land			Corporate/Other(1)			Company Total
	For the three months ended March 31, 2014
	Operating lease income	$	—		$	38,881		$	23,001		$	226		$	—		$	62,108
	Interest income	27,914			—			—			—			—			27,914
	Other income	399			214			12,666			226			1,079			14,584
	Land sales revenue	—			—			—			4,143			—			4,143
	Total revenue	$	28,313		$	39,095		$	35,667		$	4,595		$	1,079		$	108,749
	Earnings (loss) from equity method investments	—			286			217			(258		)	2,932			3,177
	Income from sales of residential property	—			—			16,494			—			—			16,494
	Revenue and other earnings	$	28,313		$	39,381		$	52,378		$	4,337		$	4,011		$	128,420
	Real estate expense	—			(5,674		)	(28,614		)	(8,325		)	—			(42,613		)
	Land cost of sales	—			—			—			(3,654		)	—			(3,654		)
	Other expense	(430		)	—			—			—			209			(221		)
	Allocated interest expense	(15,452		)	(18,610		)	(10,259		)	(7,159		)	(5,976		)	(57,456		)
	Allocated general and administrative(2)	(3,090		)	(3,799		)	(2,189		)	(3,049		)	(5,586		)	(17,713		)
	Segment profit (loss)(4)	$	9,341		$	11,298		$	11,316		$	(17,850	)	$	(7,342	)	$	6,763
	Other significant non-cash items:
	Provision for (recovery of) loan losses	$	(3,400	)	$	—		$	—		$	—		$	—		$	(3,400	)
	Impairment of assets	$	—		$	2,979		$	—		$	—		$	—		$	2,979
	Depreciation and amortization	$	—		$	10,128		$	7,864		$	304		$	317		$	18,613
	Capitalized expenditures	$	—		$	504		$	12,854		$	14,683		$	—		$	28,041
	As of March 31, 2014
	Real estate
	Real estate, at cost	$	—		$	1,611,246		$	726,356		$	809,517		$	—		$	3,147,119
	Less: accumulated depreciation	—			(343,294		)	(86,173		)	(3,682		)	—			(433,149		)
	Real estate, net	$	—		$	1,267,952		$	640,183		$	805,835		$	—		$	2,713,970
	Real estate available and held for sale	—			—			204,653			130,038			—			334,691
	Total real estate	$	—		$	1,267,952		$	844,836		$	935,873		$	—		$	3,048,661
	Loans receivable and other lending investments, net	1,476,490			—			—			—			—			1,476,490
	Other investments	—			33,441			15,794			33,312			122,550			205,097
	Total portfolio assets	$	1,476,490		$	1,301,393		$	860,630		$	969,185		$	122,550		$	4,730,248
	Cash and other assets																757,467
	Total assets																$	5,487,715
		Real Estate Finance			Net Lease			Operating Properties			Land			Corporate/Other(1)			Company Total
	For the three months ended March 31, 2013
	Operating lease income	$	—		$	36,651		$	21,364		$	—		$	—		$	58,015
	Interest income	24,667			—			—			—			—			24,667
	Other income	2,208			—			8,112			500			573			11,393
	Total revenue	$	26,875		$	36,651		$	29,476		$	500		$	573		$	94,075
	Earnings (loss) from equity method investments	—			686			2,657			(1,579		)	19,914			21,678
	Income from sales of residential property	—			—			23,697			—			—			23,697
	Net operating income from discontinued operations(2)	—			610			734			—			—			1,344
	Gain from discontinued operations	—			29			5,015			—			—			5,044
	Revenue and other earnings	$	26,875		$	37,976		$	61,579		$	(1,079	)	$	20,487		$	145,838
	Real estate expense	—			(5,569		)	(25,736		)	(6,503		)	—			(37,808		)
	Other expense	(1,444		)	—			—			—			(4,181		)	(5,625		)
	Allocated interest expense(3)	(19,952		)	(20,745		)	(14,622		)	(9,288		)	(6,959		)	(71,566		)
	Allocated general and administrative(2)	(3,074		)	(3,052		)	(2,231		)	(1,849		)	(6,440		)	(16,646		)
	Segment profit (loss)(4)	$	2,405		$	8,610		$	18,990		$	(18,719	)	$	2,907		$	14,193
	Other significant non-cash items:
	Provision for (recovery of) loan losses	$	10,206		$	—		$	—		$	—		$	—		$	10,206
	Impairment of assets(3)	$	—		$	—		$	(32	)	$	—		$	—		$	(32	)
	Depreciation and amortization(3)	$	—		$	9,642		$	7,206		$	264		$	342		$	17,454
	Capitalized expenditures	$	—		$	3,766		$	4,921		$	7,627		$	—		$	16,314
	As of December 31, 2013
	Real estate
	Real estate, at cost	$	—		$	1,696,888		$	720,508		$	803,238		$	—		$	3,220,634
	Less: accumulated depreciation	—			(338,640		)	(82,420		)	(3,393		)	—			(424,453		)
	Real estate, net	$	—		$	1,358,248		$	638,088		$	799,845		$	—		$	2,796,181
	Real estate available and held for sale	—			—			228,328			132,189			—			360,517
Total real estate	$	—		$	1,358,248		$	866,416		$	932,034		$	—		$	3,156,698
Loans receivable and other lending investments, net	1,370,109			—			—			—			—			1,370,109
Other investments	—			16,408			16,032			29,765			145,004			207,209
Total portfolio assets	$	1,370,109		$	1,374,656		$	882,448		$	961,799		$	145,004		$	4,734,016
Cash and other assets																907,995
Total assets																$	5,642,011
Explanatory Notes:
_______________________________________________________________________________
-1	Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not related to the other reportable segments above, including the Company's share of equity in earnings from LNR of $14.7 million for the three months ended March 31, 2013. See Note 6 for further details on the Company's investment in LNR and summarized financial information of LNR.
-2	General and administrative excludes stock-based compensation expense of $2.1 million and $5.2 million for the three months ended March 31, 2014 and 2013, respectively.
-3	Includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
-4	The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands):
	For the Three Months Ended
	March 31,
	2014			2013
Segment profit (loss)	$	6,763		$	14,193
Less: (Provision for) recovery of loan losses	3,400			(10,206		)
Less: Impairment of assets(3)	(2,979		)	32
Less: Stock-based compensation expense	(2,075		)	(5,202		)
Less: Depreciation and amortization(3)	(18,613		)	(17,454		)
Less: Income tax (expense) benefit(3)	507			(4,075		)
Add: Gain (loss) on early extinguishment of debt, net	(1,180		)	(9,541		)
Net income (loss)	$	(14,177	)	$	(32,253	)

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Property, Plant and Equipment [Line Items]	'
Capitalization	'
	Capitalization—For real estate projects, the Company begins to capitalize qualified development and construction costs, including interest, real estate taxes, compensation and certain other carrying costs incurred which are specifically identifiable to a development project once activities necessary to get the asset ready for its intended use have commenced. If specific allocation of costs is not practicable, the Company will allocate costs based on relative fair value prior to construction or relative sales value, relative size or other value methods as appropriate during construction. The Company ceases capitalization on the portions substantially completed and ready for their intended use.
New Accounting Pronouncements	'
	New Accounting Pronouncements
	In April 2014, the FASB issued ASU 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity" ("ASU 2014-08"). This guidance requires disposals of a component of an entity or group of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results to be reported as discontinued operations. Assets and liabilities of a disposal group that includes a discontinued operation must be presented separately in asset and liability sections, respectively, of the Company's Consolidated Balance Sheets for each comparative period. Expanded disclosures about the assets, liabilities, revenues and expenses of discontinued operations are also required. For individually significant disposals that do not qualify as discontinued operations, disclosure of pre-tax income is required. ASU 2014-08 is effective for interim and annual periods beginning on or after December 15, 2014. Early adoption is permitted for disposals (or classifications as held for sale) that have not been reported in previously-issued financial statements. The Company has elected to early adopt ASU 2014-08 beginning with disposals and classifications of assets as held for sale that occurred after December 31, 2013.
Land	'
Property, Plant and Equipment [Line Items]	'
Dispositions	'
	Dispositions—Revenues from sales of land are recognized in accordance with Accounting Standards Codification ("ASC") 360-20, Real Estate Sales. Sales of land are recognized for full profit recognition upon closing of the sale transactions, when the profit is determinable, the earnings process is virtually complete, the parties are bound by the terms of the contract, all consideration has been exchanged, any permanent financing for which the seller is responsible has been arranged and all conditions for closing have been performed. Revenues from sales of land are included in "Land sales revenue" and costs of land sales are included in "Land cost of sales" on the Company’s Consolidated Statements of Operations.

Real_Estate_Tables

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2014
Real Estate [Abstract]	'
Schedule of Real Estate Assets	'
	The Company's real estate assets were comprised of the following ($ in thousands):
		Net Lease			Operating			Land			Total
					Properties
	As of March 31, 2014
	Land and land improvements	$	328,143		$	132,934		$	809,517		$	1,270,594
	Buildings and improvements	1,283,103			593,422			—			1,876,525
	Less: accumulated depreciation and amortization	(343,294		)	(86,173		)	(3,682		)	(433,149		)
	Real estate, net	$	1,267,952		$	640,183		$	805,835		$	2,713,970
	Real estate available and held for sale	—			204,653			130,038			334,691
	Total real estate	$	1,267,952		$	844,836		$	935,873		$	3,048,661
	As of December 31, 2013
	Land and land improvements	$	350,817		$	132,934		$	803,238		$	1,286,989
	Buildings and improvements	1,346,071			587,574			—			1,933,645
	Less: accumulated depreciation and amortization	(338,640		)	(82,420		)	(3,393		)	(424,453		)
	Real estate, net	$	1,358,248		$	638,088		$	799,845		$	2,796,181
	Real estate available and held for sale	—			228,328			132,189			360,517
	Total real estate	$	1,358,248		$	866,416		$	932,034		$	3,156,698

Loans_Receivable_and_Other_Len1

Loans Receivable and Other Lending Investments, net (Tables)	3 Months Ended
	Mar. 31, 2014
Receivables [Abstract]	'
Schedule of the Company's loans and other lending investments by class	'
	The following is a summary of the Company's loans receivable and other lending investments by class ($ in thousands):
		As of
	Type of Investment	March 31,				December 31,
		2014				2013
	Senior mortgages	$	1,103,471			$	1,071,662
	Subordinate mortgages	61,764				60,679
	Corporate/Partnership loans	527,865				473,045
	Total gross carrying value of loans	$	1,693,100			$	1,605,386
	Reserves for loan losses	(370,076		)		(377,204		)
	Total loans receivable, net	$	1,323,024			$	1,228,182
	Other lending investments—securities	153,466				141,927
	Total loans receivable and other lending investments, net(1)	$	1,476,490			$	1,370,109
	Explanatory Note:
	_______________________________________________________________________________
	-1	The Company's recorded investment in loans as of March 31, 2014 and December 31, 2013 also includes accrued interest of $7.6 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.
Schedule of changes in the Company's reserve for loan losses	'
	Reserve for loan losses—Changes in the Company's reserve for loan losses were as follows ($ in thousands):
		For the Three Months Ended March 31,
		2014				2013
	Reserve for loan losses at beginning of period	$	377,204			$	524,499
	Provision for (recovery of) loan losses(1)	(3,400		)		10,206
	Charge-offs	(3,728		)		(12,910		)
	Reserve for loan losses at end of period	$	370,076			$	521,795
	Explanatory Note:
	_______________________________________________________________________________
	-1	For the three months ended March 31, 2014 and 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $5.2 million and $4.6 million, respectively.
Schedule of recorded investment in loans and associated reserve for loan losses	'
	The Company's recorded investment in loans (comprised of a loan's carrying value plus accrued interest) and the associated reserve for loan losses were as follows ($ in thousands):
		Individually				Collectively				Loans Acquired				Total
		Evaluated for				Evaluated for				with Deteriorated
		Impairment(1)				Impairment(2)				Credit Quality(3)
	As of March 31, 2014
	Loans	$	687,812			$	1,003,264			$	9,586			$	1,700,662
	Less: Reserve for loan losses	(339,076		)		(31,000		)		—				(370,076		)
	Total	$	348,736			$	972,264			$	9,586			$	1,330,586
	As of December 31, 2013
	Loans	$	752,425			$	849,613			$	9,889			$	1,611,927
	Less: Reserve for loan losses	(348,004		)		(29,200		)		—				(377,204		)
	Total	$	404,421			$	820,413			$	9,889			$	1,234,723
	Explanatory Notes:
	_______________________________________________________________________________
	-1	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $0.2 million and a net premium of $0.5 million as of March 31, 2014 and December 31, 2013, respectively. The Company's loans individually evaluated for impairment primarily represent loans on non-accrual status and therefore, the unamortized amounts associated with these loans are not currently being amortized into income.
	-2	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $7.6 million and $4.6 million as of March 31, 2014 and December 31, 2013, respectively.
	-3	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net premium of $0.4 million and $0.4 million as of March 31, 2014 and December 31, 2013, respectively. These loans had cumulative principal balances of $9.9 million and $10.2 million, as of March 31, 2014 and December 31, 2013, respectively.
Schedule of investment in performing loans, presented by class and by credit quality, as indicated by risk rating	'
	The Company's recorded investment in performing loans, presented by class and by credit quality, as indicated by risk rating, was as follows ($ in thousands):
		As of
		March 31, 2014							December 31, 2013
		Performing				Weighted			Performing				Weighted
		Loans				Average			Loans				Average
						Risk Ratings							Risk Ratings
	Senior mortgages	$	624,044			2.69			$	591,145			2.5
	Subordinate mortgages	62,449				3.4			61,364				3.37
	Corporate/Partnership loans	494,012				3.66			438,831				3.88
	Total	$	1,180,505			3.14			$	1,091,340			3.11
Schedule of recorded investment in loans, aged by payment status and presented by class	'
	As of March 31, 2014, the Company's recorded investment in loans, aged by payment status and presented by class, were as follows ($ in thousands):
		Current				Less Than				Greater				Total				Total
						and Equal				Than				Past Due
						to 90 Days				90 Days
	Senior mortgages	$	658,085			$	—			$	448,737			$	448,737			$	1,106,822
	Subordinate mortgages	62,449				—				—				—				62,449
	Corporate/Partnership loans	531,391				—				—				—				531,391
	Total	$	1,251,925			$	—			$	448,737			$	448,737			$	1,700,662
Schedule of recorded investment in impaired loans, presented by class	'
	Impaired Loans—The Company's recorded investment in impaired loans, presented by class, were as follows ($ in thousands)(1):
		As of March 31, 2014												As of December 31, 2013
		Recorded				Unpaid				Related				Recorded				Unpaid				Related
		Investment				Principal				Allowance				Investment				Principal				Allowance
						Balance												Balance
	With no related allowance recorded:
	Senior mortgages	$	94,013			$	93,286			$	—			$	3,012			$	2,992			$	—
	With an allowance recorded:
	Senior mortgages	$	505,745			$	502,319			$	(297,173	)		$	650,337			$	645,463			$	(304,544	)
	Corporate/Partnership loans	88,054				88,027				(41,903		)		99,076				99,067				(43,460		)
	Subtotal	$	593,799			$	590,346			$	(339,076	)		$	749,413			$	744,530			$	(348,004	)
	Total:
	Senior mortgages	$	599,758			$	595,605			$	(297,173	)		$	653,349			$	648,455			$	(304,544	)
	Corporate/Partnership loans	88,054				88,027				(41,903		)		99,076				99,067				(43,460		)
	Total	$	687,812			$	683,632			$	(339,076	)		$	752,425			$	747,522			$	(348,004	)
	Explanatory Note:
	_______________________________________________________________________________
	-1	All of the Company's non-accrual loans are considered impaired and included in the table above. In addition, as of March 31, 2014 and December 31, 2013, certain loans modified through troubled debt restructurings with a recorded investment of $167.7 million and $231.8 million, respectively, are also included as impaired loans in accordance with GAAP although they are performing and on accrual status.
Schedule of average recorded investment in impaired loans and interest income recognized, presented by class	'
	The Company's average recorded investment in impaired loans and interest income recognized, presented by class, were as follows ($ in thousands):
		For the Three Months Ended March 31,
		2014								2013
		Average				Interest				Average				Interest
		Recorded				Income				Recorded				Income
		Investment				Recognized				Investment				Recognized
	With no related allowance recorded:
	Senior mortgages	$	48,512			$	501			$	63,394			$	844
	Corporate/Partnership loans	—				—				10,110				120
	Subtotal	$	48,512			$	501			$	73,504			$	964
	With an allowance recorded:
	Senior mortgages	$	578,041			$	53			$	911,082			$	506
	Subordinate mortgages	—				—				53,888				—
	Corporate/Partnership loans	93,565				65				62,326				78
	Subtotal	$	671,606			$	118			$	1,027,296			$	584
	Total:
	Senior mortgages	$	626,553			$	554			$	974,476			$	1,350
	Subordinate mortgages	—				—				53,888				—
	Corporate/Partnership loans	93,565				65				72,436				198
	Total	$	720,118			$	619			$	1,100,800			$	1,548
Schedule of troubled debt restructurings, presented by class	'
	The recorded investment in this loan was impacted by the modification as follows, presented by class ($ in thousands):
		For the Three Months Ended March 31,
		2014											2013
		Number			Pre-Modification				Post-Modification				Number			Pre-Modification				Post-Modification
		of Loans			Outstanding				Outstanding				of Loans			Outstanding				Outstanding
					Recorded				Recorded							Recorded				Recorded
					Investment				Investment							Investment				Investment
	Senior mortgages	—			$	—			$	—			1			$	72,674			$	65,000
Marketable securities	'
	As of March 31, 2014, other lending investments—securities includes the following ($ in thousands):
		Face Value				Amortized Cost Basis				Net Unrealized Gain (Loss)				Estimated Fair Value				Net Carrying Value
	Available-for-Sale Securities
	Municipal debt securities	$	1,040			$	1,040			$	47			$	1,087			$	1,087
	Held-to-Maturity Securities
	Corporate debt securities	149,176				152,379				—				152,379				152,379
	Total	$	150,216			$	153,419			$	47			$	153,466			$	153,466

Other_Investments_Tables

Other Investments (Tables)	3 Months Ended
	Mar. 31, 2014
Schedule of Equity Method Investments [Line Items]	'
Schedule of other investments and its proportionate share of results for equity method investments	'
	The Company's other investments and its proportionate share of results from equity method investments were as follows ($ in thousands):
		Carrying Value as of					Equity in Earnings for the
							Three Months Ended March 31,
		March 31, 2014			December 31, 2013		2014			2013
	Real estate equity investments	$	82,546		$	62,205	$	245		$	1,763
	Other equity method investments	46,605			45,954		1,036			1,753
	Madison Funds	45,520			67,782		(402		)	2,259
	Oak Hill Funds	20,810			21,366		2,298			1,157
	LNR	—			—		—			14,746
	Total equity method investments	$	195,481		$	197,307	$	3,177		$	21,678
	Other	9,616			9,902
	Total other investments	$	205,097		$	207,209
LNR Property LLC (LNR)	'
Schedule of Equity Method Investments [Line Items]	'
Schedule of other investments and its proportionate share of results for equity method investments	'
	The following table reconciles the activity related to the Company's investment in LNR for the three months ended March 31, 2013 ($ in thousands):
		For the Three Months Ended March 31, 2013
	Carrying value of LNR at beginning of period	$	205,773
	Equity in earnings of LNR for the period	$	45,375		(a)
	Balance before other than temporary impairment	$	251,148
	Other than temporary impairment	$	(30,867	)	(b)
	Carrying value of LNR at end of period	$	220,281
Schedule of summarized Income Statements	'
	The following table represents investee level summarized financial information for LNR ($ in thousands)(1):
		For the Three Months
		Ended December 31,
		2012
	Income Statements
	Total revenue(2)	$	77,780
	Income tax (expense) benefit	$	(279	)
	Net income attributable to LNR	$	189,249
	iStar's ownership percentage	24		%
	iStar's equity in earnings from LNR(3)	$	45,375
	Explanatory Notes:
	_______________________________________________________________________________
	-1	The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the three months ended March 31, 2013 were based on balances and results from LNR for the three months ended December 31, 2012.
	-2	LNR consolidates certain commercial mortgage-backed securities and collateralized debt obligation trusts that are considered VIEs (and for which it is the primary beneficiary), that have been included in the amounts presented above. For the three months ended December 31, 2012, total revenue presented above includes $29.3 million of servicing fee revenue that is eliminated upon consolidation of the VIE's at the LNR level. This income is then added back through consolidation at the LNR level as an adjustment to income allocable to noncontrolling entities and has no net impact on net income attributable to LNR.
	-3	During the three months ended March 31, 2013, the Company recorded an other than temporary impairment of $30.9 million.

Other_Assets_and_Other_Liabili1

Other Assets and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2014
Other Assets and Other Liabilities [Abstract]	'
Schedule of deferred expenses and other assets, net	'
	Deferred expenses and other assets, net, consist of the following items ($ in thousands):
		As of
		March 31, 2014			December 31, 2013
	Intangible assets, net(1)	$	60,014		$	100,652
	Other receivables	25,939			34,655
	Deferred financing fees, net(2)	31,048			33,591
	Leasing costs, net(3)	22,240			21,799
	Corporate furniture, fixtures and equipment, net(4)	6,190			6,557
	Other assets	41,189			40,726
	Deferred expenses and other assets, net	$	186,620		$	237,980
	Explanatory Notes:
	_______________________________________________________________________________
	-1	Intangible assets, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible assets was $34.6 million and $38.1 million as of March 31, 2014 and December 31, 2013, respectively. The amortization of above market leases decreased operating lease income on the Company's Consolidated Statements of Operations by $2.3 million and $1.6 million for the three months ended March 31, 2014 and 2013, respectively. The amortization expense for other intangible assets was $2.5 million and $2.5 million for the three months ended March 31, 2014 and 2013, respectively. These amounts are included in “Depreciation and amortization” on the Company's Consolidated Statements of Operations.
	-2	Accumulated amortization on deferred financing fees was $11.5 million and $9.9 million as of March 31, 2014 and December 31, 2013, respectively.
	-3	Accumulated amortization on leasing costs was $7.0 million and $7.1 million as of March 31, 2014 and December 31, 2013, respectively.
	-4	Accumulated depreciation on corporate furniture, fixtures and equipment was $6.4 million and $6.2 million as of March 31, 2014 and December 31, 2013, respectively.
Schedule of accounts payable, accrued expenses and other liabilities	'
	Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands):
		As of
		March 31, 2014			December 31, 2013
	Accrued expenses	$	31,230		$	58,840
	Accrued interest payable	29,378			40,015
	Intangible liabilities, net(1)	13,619			26,223
	Other liabilities	37,968			45,753
	Accounts payable, accrued expenses and other liabilities	$	112,195		$	170,831
	Explanatory Note:
	_______________________________________________________________________________
	-1	Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $4.5 million and $4.6 million as of March 31, 2014 and December 31, 2013, respectively. The amortization of intangible liabilities increased operating lease income on the Company's Consolidated Statements of Operations by $0.7 million and $1.1 million for the three months ended March 31, 2014 and 2013, respectively.
Schedule of deferred tax assets and liabilities	'
	Deferred tax assets and liabilities of the Company's TRS entities were as follows ($ in thousands):
		As of
		March 31, 2014			31-Dec-13
	Deferred tax assets(1)	$	56,801		$	55,962
	Valuation allowance	(56,801		)	(55,962		)
	Net deferred tax assets (liabilities)	$	—		$	—
	Explanatory Note:
	_______________________________________________________________________________
	-1	Deferred tax assets as of March 31, 2014 include real estate basis differences of $33.3 million, net operating loss carryforwards of $16.0 million and investment basis differences of $7.5 million. Deferred tax assets as of December 31, 2013 include real estate basis differences of $33.0 million, net operating loss carryforwards of $14.9 million and investment basis differences of $8.1 million.

Debt_Obligations_net_Tables

Debt Obligations, net (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Schedule of debt obligations	'
	As of March 31, 2014 and December 31, 2013, the Company's debt obligations were as follows ($ in thousands):
		Carrying Value as of
		March 31,			December 31,			Stated			Scheduled
		2014			2013			Interest Rates			Maturity Date
	Secured credit facilities and term loans:
	2012 Tranche A-2 Facility	$	418,145		$	431,475		LIBOR + 5.75%		-1	Mar-17
	February 2013 Secured Credit Facility	1,333,372			1,379,407			LIBOR + 3.50%		-2	Oct-17
	Term loans collateralized by net lease assets	278,726			278,817			4.851% - 7.26%		-3	Various through 2026
	Total secured credit facilities and term loans	$	2,030,243		$	2,089,699
	Unsecured notes:
	6.05% senior notes	105,765			105,765			6.05	%		Apr-15
	5.875% senior notes	261,403			261,403			5.875	%		Mar-16
	3.875% senior notes	265,000			265,000			3.875	%		Jul-16
	3.0% senior convertible notes(4)	200,000			200,000			3	%		Nov-16
	1.50% senior convertible notes(5)	200,000			200,000			1.5	%		Nov-16
	5.85% senior notes	99,722			99,722			5.85	%		Mar-17
	9.0% senior notes	275,000			275,000			9	%		Jun-17
	7.125% senior notes	300,000			300,000			7.125	%		Feb-18
	4.875% senior notes	300,000			300,000			4.875	%		Jul-18
	Total unsecured notes	$	2,006,890		$	2,006,890
	Other debt obligations:
	Other debt obligations	$	100,000		$	100,000		LIBOR + 1.50%			Oct-35
	Total debt obligations	$	4,137,133		$	4,196,589
	Debt discounts, net	(35,083		)	(38,464		)
	Total debt obligations, net	$	4,102,050		$	4,158,125
	Explanatory Notes:
	_______________________________________________________________________________
	-1	These loans each have a LIBOR floor of 1.25%. As of March 31, 2014, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.
	-2	This loan has a LIBOR floor of 1.00%. As of March 31, 2014, inclusive of the floor, the February 2013 Secured Credit Facility incurred interest at a rate of 4.50%.
	-3	Includes a loan with a floating rate of LIBOR plus 2.00% and a loan with a floating rate of LIBOR plus 2.75%.
	-4	The Company's 3.0% senior convertible fixed rate notes due November 2016 ("3.0% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.0% Convertible Notes, at any time prior to the close of business on November 14, 2016.
	-5	The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at any time prior to the close of business on November 14, 2016.
Schedule of future scheduled maturities of outstanding long-term debt obligations, net	'
	Future Scheduled Maturities—As of March 31, 2014, future scheduled maturities of outstanding long-term debt obligations are as follows ($ in thousands):
		Unsecured Debt			Secured Debt			Total
	2014 (remaining nine months)	$	—		$	23,603		$	23,603
	2015	105,765			—			105,765
	2016	926,403			—			926,403
	2017	374,722			1,751,517			2,126,239
	2018	600,000			16,611			616,611
	Thereafter	100,000			238,512			338,512
	Total principal maturities	$	2,106,890		$	2,030,243		$	4,137,133
	Unamortized debt discounts, net	(10,430		)	(24,653		)	(35,083		)
	Total long-term debt obligations, net	$	2,096,460		$	2,005,590		$	4,102,050
Schedule of carrying value of encumbered assets by asset type	'
	Encumbered/Unencumbered Assets—As of March 31, 2014 and December 31, 2013, the carrying value of the Company's encumbered and unencumbered assets by asset type are as follows ($ in thousands):
		As of
		31-Mar-14						31-Dec-13
		Encumbered Assets			Unencumbered Assets			Encumbered Assets				Unencumbered Assets
	Real estate, net	$	1,589,847		$	1,124,123		$	1,644,463			$	1,151,718
	Real estate available and held for sale	129,005			205,686			152,604				207,913
	Loans receivable and other lending investments, net(1)	836,572			670,918			860,557				538,752
	Other investments	21,034			184,063			24,093				183,116
	Cash and other assets	—			757,467			—				907,995
	Total	$	2,576,458		$	2,942,257		$	2,681,717			$	2,989,494
	Explanatory Note:
	_______________________________________________________________________________
	-1	As of March 31, 2014 and December 31, 2013, the amounts presented exclude general reserves for loan losses of $31.0 million and $29.2 million, respectively.

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of unfunded commitments	'
	As of March 31, 2014, the maximum amount of fundings the Company may be required to make under each category, assuming all performance hurdles and milestones are met under the Performance-Based Commitments, that it approves all Discretionary Fundings and that 100% of its capital committed to Strategic Investments is drawn down, are as follows ($ in thousands):
		Loans and Other Lending Investments		Real Estate		Strategic		Total
						Investments
	Performance-Based Commitments	$	233,015	$	51,759	$	—	$	284,774
	Discretionary Fundings	—		—		—		—
	Strategic Investments	—		—		46,382		46,382
	Total	$	233,015	$	51,759	$	46,382	$	331,156

Derivatives_Tables

Derivatives (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

'

Schedule of fair value of derivative financial instruments as well as their classification on Consolidated Balance Sheets

'

The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013 ($ in thousands):

Derivative Assets as of

Derivative Liabilities as of

March 31, 2014

December 31, 2013

March 31, 2014

December 31, 2013

Derivative

Balance Sheet

Fair

Balance Sheet

Fair

Balance Sheet

Fair

Balance Sheet

Fair

Location

Value

Location

Value

Location

Value

Location

Value

Foreign exchange contracts

Other Assets

$

1,467

Other Assets

$

1,418

Other Liabilities

$

1,623

Other Liabilities

$

1,653

Interest rate swap

Other Assets

488

Other Assets

650

N/A

—

N/A

—

Interest rate cap

Other Assets

8,144

Other Assets

9,107

N/A

—

N/A

—

Total

$

10,099

$

11,175

$

1,623

$

1,653

Schedule of derivative financial instruments on Consolidated Statements of Operations

'

Amount of Gain or (Loss)

Recognized in Income

Location of Gain or

For the Three Months Ended March 31,

(Loss) Recognized in

Derivatives not Designated in Hedging Relationships

Income

2014

2013

Foreign Exchange Contracts

Other Expense

$

1,498

$

10,156

The tables below present the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2014 and 2013 ($ in thousands):

Derivatives Designated in Hedging Relationships

Location of Gain (Loss)

Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)

Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)

Amount of Gain (Loss) Recognized in Earnings (Ineffective Portion)

Recognized in Income

For the three months ended March 31, 2014

Interest rate cap

Interest Expense

$

(962

)

$

—

N/A

Interest rate swap

Interest Expense

$

(348

)

$

135

N/A

Foreign exchange contracts

Other Expense

$

(452

)

$

—

N/A

For the three months ended March 31, 2013

Interest rate swap

Interest Expense

$

37

$

74

N/A

Schedule of foreign currency derivatives outstanding

'

As of March 31, 2014, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were not designated ($ in thousands):

Derivative Type

Notional

Notional

Maturity

Amount

(USD Equivalent)

Sells euro ("EUR")/Buys USD Forward

€

72,200

$

99,479

Apr-14

Sells pound sterling ("GBP")/Buys USD Forward

£

3,800

$

6,335

Apr-14

Sells Canadian dollar ("CAD")/Buys USD Forward

C$

41,500

$

37,564

Apr-14

he following table presents the Company's qualifying cash flow hedges outstanding as of March 31, 2014 ($ in thousands).

Derivative Type

Notional

Variable Rate

Fixed Rate

Effective Date

Maturity

Amount

Interest Rate Cap

$

500,000

LIBOR

1.00%

Jul-14

Jul-17

Interest Rate Swap

$

27,831

LIBOR + 2.00%

3.47%

Oct-12

Nov-19

As of March 31, 2014, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were designated ($ in thousands):

Derivative Type

Notional

Notional

Maturity

Amount

(USD Equivalent)

Sells INR/Buys USD Forward

₨

456,000

$

7,614

Jun-15

Equity_Tables

Equity (Tables)	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Schedule of Cumulative Redeemable Preferred Stock outstanding by series	'
	Preferred Stock—The Company had the following series of Cumulative Redeemable Preferred Stock outstanding as of March 31, 2014 and December 31, 2013:
								Cumulative Preferential Cash
								Dividends(1)(2)
	Series		Shares Issued and		Par Value			Liquidation Preference	Rate per Annum		Equivalent to
			Outstanding								Fixed Annual
			(in thousands)								Rate (per share)
	D		4,000		$	0.001		$25.00	8	%	$	2
	E		5,600		$	0.001		$25.00	7.875	%	$	1.97
	F		4,000		$	0.001		$25.00	7.8	%	$	1.95
	G		3,200		$	0.001		$25.00	7.65	%	$	1.91
	I		5,000		$	0.001		$25.00	7.5	%	$	1.88
	J		4,000		$	0.001		$50.00	4.5	%	$	2.25
			25,800
	Explanatory Notes:
	_______________________________________________________________________________
	-1	Holders of shares of the Series D, E, F, G, I and J preferred stock are entitled to receive dividends, when and as declared by the Board of Directors, out of funds legally available for the payment of dividends. Dividends are cumulative from the date of original issue and are payable quarterly in arrears on or before the 15th day of each March, June, September and December or, if not a business day, the next succeeding business day. Any dividend payable on the preferred stock for any partial dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends will be payable to holders of record as of the close of business on the first day of the calendar month in which the applicable dividend payment date falls or on another date designated by the Board of Directors of the Company for the payment of dividends that is not more than 30 nor less than 10 days prior to the dividend payment date.
	-2	The Company declared and paid dividends of $2.0 million, $2.8 million, $2.0 million, $1.5 million and $2.3 million on its Series D, E, F, G and I preferred stock during the three months ended March 31, 2014 and 2013. The Company declared and paid dividends of $2.3 million on its Series J preferred stock during the three months ended March 31, 2014. All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding.
Accumulated other comprehensive income (loss) reflected in the Company's shareholders' equity	'
	Accumulated Other Comprehensive Income (Loss)—"Accumulated other comprehensive income (loss)" reflected in the Company's shareholders' equity is comprised of the following ($ in thousands):
		As of
		March 31, 2014			December 31, 2013
	Unrealized losses on available-for-sale securities	$	(226	)	$	(294	)
	Unrealized gains (losses) on cash flow hedges	(965		)	662
	Unrealized losses on cumulative translation adjustment	(4,481		)	(4,644		)
	Accumulated other comprehensive income (loss)	$	(5,672	)	$	(4,276	)

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations	'
	The following table presents a reconciliation of income (loss) from continuing operations used in the basic and diluted earnings per share calculations ($ in thousands, except for per share data):
			For the Three Months Ended
			March 31,
			2014				2013
	Income (loss) from continuing operations		$	(30,671	)		$	(62,240	)
	Net (income) loss attributable to noncontrolling interests		(454		)		189
	Income from sales of residential property		16,494				23,697
	Preferred dividends		(12,830		)		(10,580		)
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders		$	(27,461	)		$	(48,934	)
Schedule of earnings per share allocable to common shares and HPU shares	'
	Earnings allocable to common shares:
	Numerator for basic and diluted earnings per share:
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders	$	(26,572	)		$	(47,350	)
	Income (loss) from discontinued operations	—				1,206
	Gain from discontinued operations	—				4,881
	Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders	$	(26,572	)		$	(41,263	)
	Denominator for basic and diluted earnings per share:
	Weighted average common shares outstanding for basic and diluted earnings per common share	84,819				84,824
	Basic and diluted earnings per common share:
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders	$	(0.31	)		$	(0.56	)
	Income (loss) from discontinued operations	—				0.01
	Gain from discontinued operations	—				0.06
	Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders	$	(0.31	)		$	(0.49	)
		For the Three Months Ended
		March 31,
		2014				2013
	Earnings allocable to High Performance Units:
	Numerator for basic and diluted earnings per HPU share:
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders	$	(889	)		$	(1,584	)
	Income (loss) from discontinued operations	—				40
	Gain from discontinued operations	—				163
	Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders	$	(889	)		$	(1,381	)
	Denominator for basic and diluted earnings per HPU share:
	Weighted average High Performance Units outstanding for basic and diluted earnings per share	15				15
	Basic and diluted earnings per HPU share:
	Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders	$	(59.27	)		$	(105.61	)
	Income (loss) from discontinued operations	—				2.67
	Gain from discontinued operations	—				10.87
	Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders	$	(59.27	)		$	(92.07	)
Schedule of anti-dilutive shares	'
	For the three months ended March 31, 2014 and 2013, the following shares were not included in the diluted EPS calculation because they were anti-dilutive ($ in thousands):
		For the Three Months Ended
		March 31,
		2014				2013
	Joint venture shares	$	298			$	298
	3.00% convertible senior unsecured notes	$	16,992			$	16,992
	Series J convertible perpetual preferred stock	$	15,635			$	15,635
	1.50% convertible senior unsecured notes	$	11,567			$	—

Fair_Values_Tables

Fair Values (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Schedule of assets and liabilities recorded at fair value on a recurring and non-recurring basis by levels	'
	The following fair value hierarchy table summarizes the Company's assets and liabilities recorded at fair value on a recurring and non-recurring basis by the above categories ($ in thousands):
				Fair Value Using
		Total		Quoted market		Significant other		Significant
				prices in		observable		unobservable
				active markets		inputs		inputs
				(Level 1)		(Level 2)		(Level 3)
	As of March 31, 2014
	Recurring basis:
	Derivative assets	$	10,099	$	—	$	10,099	$	—
	Derivative liabilities	$	1,623	$	—	$	1,623	$	—
	Non-recurring basis:
	Impaired loans(1)	$	136,536	$	—	$	—	$	136,536
	As of December 31, 2013
	Recurring basis:
	Derivative assets	$	11,175	$	—	$	11,175	$	—
	Derivative liabilities	$	1,653	$	—	$	1,653	$	—
	Non-recurring basis:
	Impaired loans	$	115,423	$	—	$	—	$	115,423
	Impaired real estate	$	35,680	$	—	$	5,744	$	29,936
	Explanatory Notes:
	_______________________________________________________________________________
	-1	The Company recorded a recovery on three loans with a combined fair value of $136.5 million based on the loans' remaining weighted average term of 1.2 years and weighted average discount rate of 7.3% using discounted cash flow analysis.

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Schedule of financial measures for each segment based on which performance is evaluated	'
	The Company evaluates performance based on the following financial measures for each segment. The Company's segment information is as follows ($ in thousands):
		Real Estate Finance			Net Lease			Operating Properties			Land			Corporate/Other(1)			Company Total
	For the three months ended March 31, 2014
	Operating lease income	$	—		$	38,881		$	23,001		$	226		$	—		$	62,108
	Interest income	27,914			—			—			—			—			27,914
	Other income	399			214			12,666			226			1,079			14,584
	Land sales revenue	—			—			—			4,143			—			4,143
	Total revenue	$	28,313		$	39,095		$	35,667		$	4,595		$	1,079		$	108,749
	Earnings (loss) from equity method investments	—			286			217			(258		)	2,932			3,177
	Income from sales of residential property	—			—			16,494			—			—			16,494
	Revenue and other earnings	$	28,313		$	39,381		$	52,378		$	4,337		$	4,011		$	128,420
	Real estate expense	—			(5,674		)	(28,614		)	(8,325		)	—			(42,613		)
	Land cost of sales	—			—			—			(3,654		)	—			(3,654		)
	Other expense	(430		)	—			—			—			209			(221		)
	Allocated interest expense	(15,452		)	(18,610		)	(10,259		)	(7,159		)	(5,976		)	(57,456		)
	Allocated general and administrative(2)	(3,090		)	(3,799		)	(2,189		)	(3,049		)	(5,586		)	(17,713		)
	Segment profit (loss)(4)	$	9,341		$	11,298		$	11,316		$	(17,850	)	$	(7,342	)	$	6,763
	Other significant non-cash items:
	Provision for (recovery of) loan losses	$	(3,400	)	$	—		$	—		$	—		$	—		$	(3,400	)
	Impairment of assets	$	—		$	2,979		$	—		$	—		$	—		$	2,979
	Depreciation and amortization	$	—		$	10,128		$	7,864		$	304		$	317		$	18,613
	Capitalized expenditures	$	—		$	504		$	12,854		$	14,683		$	—		$	28,041
	As of March 31, 2014
	Real estate
	Real estate, at cost	$	—		$	1,611,246		$	726,356		$	809,517		$	—		$	3,147,119
	Less: accumulated depreciation	—			(343,294		)	(86,173		)	(3,682		)	—			(433,149		)
	Real estate, net	$	—		$	1,267,952		$	640,183		$	805,835		$	—		$	2,713,970
	Real estate available and held for sale	—			—			204,653			130,038			—			334,691
	Total real estate	$	—		$	1,267,952		$	844,836		$	935,873		$	—		$	3,048,661
	Loans receivable and other lending investments, net	1,476,490			—			—			—			—			1,476,490
	Other investments	—			33,441			15,794			33,312			122,550			205,097
	Total portfolio assets	$	1,476,490		$	1,301,393		$	860,630		$	969,185		$	122,550		$	4,730,248
	Cash and other assets																757,467
	Total assets																$	5,487,715
		Real Estate Finance			Net Lease			Operating Properties			Land			Corporate/Other(1)			Company Total
	For the three months ended March 31, 2013
	Operating lease income	$	—		$	36,651		$	21,364		$	—		$	—		$	58,015
	Interest income	24,667			—			—			—			—			24,667
	Other income	2,208			—			8,112			500			573			11,393
	Total revenue	$	26,875		$	36,651		$	29,476		$	500		$	573		$	94,075
	Earnings (loss) from equity method investments	—			686			2,657			(1,579		)	19,914			21,678
	Income from sales of residential property	—			—			23,697			—			—			23,697
	Net operating income from discontinued operations(2)	—			610			734			—			—			1,344
	Gain from discontinued operations	—			29			5,015			—			—			5,044
	Revenue and other earnings	$	26,875		$	37,976		$	61,579		$	(1,079	)	$	20,487		$	145,838
	Real estate expense	—			(5,569		)	(25,736		)	(6,503		)	—			(37,808		)
	Other expense	(1,444		)	—			—			—			(4,181		)	(5,625		)
	Allocated interest expense(3)	(19,952		)	(20,745		)	(14,622		)	(9,288		)	(6,959		)	(71,566		)
	Allocated general and administrative(2)	(3,074		)	(3,052		)	(2,231		)	(1,849		)	(6,440		)	(16,646		)
	Segment profit (loss)(4)	$	2,405		$	8,610		$	18,990		$	(18,719	)	$	2,907		$	14,193
	Other significant non-cash items:
	Provision for (recovery of) loan losses	$	10,206		$	—		$	—		$	—		$	—		$	10,206
	Impairment of assets(3)	$	—		$	—		$	(32	)	$	—		$	—		$	(32	)
	Depreciation and amortization(3)	$	—		$	9,642		$	7,206		$	264		$	342		$	17,454
	Capitalized expenditures	$	—		$	3,766		$	4,921		$	7,627		$	—		$	16,314
	As of December 31, 2013
	Real estate
	Real estate, at cost	$	—		$	1,696,888		$	720,508		$	803,238		$	—		$	3,220,634
	Less: accumulated depreciation	—			(338,640		)	(82,420		)	(3,393		)	—			(424,453		)
	Real estate, net	$	—		$	1,358,248		$	638,088		$	799,845		$	—		$	2,796,181
	Real estate available and held for sale	—			—			228,328			132,189			—			360,517
	Total real estate	$	—		$	1,358,248		$	866,416		$	932,034		$	—		$	3,156,698
	Loans receivable and other lending investments, net	1,370,109			—			—			—			—			1,370,109
Other investments	—			16,408			16,032			29,765			145,004			207,209
Total portfolio assets	$	1,370,109		$	1,374,656		$	882,448		$	961,799		$	145,004		$	4,734,016
Cash and other assets																907,995
Total assets																$	5,642,011
Explanatory Notes:
_______________________________________________________________________________
-1	Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not related to the other reportable segments above, including the Company's share of equity in earnings from LNR of $14.7 million for the three months ended March 31, 2013. See Note 6 for further details on the Company's investment in LNR and summarized financial information of LNR.
-2	General and administrative excludes stock-based compensation expense of $2.1 million and $5.2 million for the three months ended March 31, 2014 and 2013, respectively.
-3	Includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
-4	The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands):
	For the Three Months Ended
	March 31,
	2014			2013
Segment profit (loss)	$	6,763		$	14,193
Less: (Provision for) recovery of loan losses	3,400			(10,206		)
Less: Impairment of assets(3)	(2,979		)	32
Less: Stock-based compensation expense	(2,075		)	(5,202		)
Less: Depreciation and amortization(3)	(18,613		)	(17,454		)
Less: Income tax (expense) benefit(3)	507			(4,075		)
Add: Gain (loss) on early extinguishment of debt, net	(1,180		)	(9,541		)
Net income (loss)	$	(14,177	)	$	(32,253	)
Reconciliation of segment profit (loss) to income (loss) from continuing operations	'
	The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands):
		For the Three Months Ended
		March 31,
		2014			2013
	Segment profit (loss)	$	6,763		$	14,193
	Less: (Provision for) recovery of loan losses	3,400			(10,206		)
	Less: Impairment of assets(3)	(2,979		)	32
	Less: Stock-based compensation expense	(2,075		)	(5,202		)
	Less: Depreciation and amortization(3)	(18,613		)	(17,454		)
	Less: Income tax (expense) benefit(3)	507			(4,075		)
	Add: Gain (loss) on early extinguishment of debt, net	(1,180		)	(9,541		)
	Net income (loss)	$	(14,177	)	$	(32,253	)

Business_and_Organization_Deta

Business and Organization (Details) (USD $)	3 Months Ended
In Billions, unless otherwise specified	Mar. 31, 2014
Business and Organization [Abstract]	'
Investment across a range of real estate sectors over the past two decades (more than $35 billion at December 31, 2012)	$35
Period over which the entity has made the investment across a range of real estate	'20 years

Basis_of_Presentation_and_Prin1

Basis of Presentation and Principles of Consolidation (Details) (USD $)	Mar. 31, 2014
In Millions, unless otherwise specified	entity
Consolidated VIEs	'
Total revenues and total expenses related to consolidated VIEs	'
Number of variable interest entities (in investments)	5
Variable interest entity, consolidated, carrying amount, assets	$212.90
Variable interest entity, consolidated, carrying amount, liabilities	34.1
Variable interest entity unfunded commitment	38.8
Unconsolidated VIEs	'
Total revenues and total expenses related to consolidated VIEs	'
Number of variable interest entities (in investments)	27
Variable interest entity unfunded commitment	29.4
Carrying value of the investments	$157

Real_Estate_Schedule_of_Real_E

Real Estate (Schedule of Real Estate Assets) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Real Estate Properties [Line Items]	'	'
Land and land improvements	$1,270,594	$1,286,989
Buildings and improvements	1,876,525	1,933,645
Less: accumulated depreciation and amortization	-433,149	-424,453
Real estate, net	2,713,970	2,796,181
Real estate available and held for sale	334,691	360,517
Total real estate	3,048,661	3,156,698
Net Lease	'	'
Real Estate Properties [Line Items]	'	'
Land and land improvements	328,143	350,817
Buildings and improvements	1,283,103	1,346,071
Less: accumulated depreciation and amortization	-343,294	-338,640
Real estate, net	1,267,952	1,358,248
Real estate available and held for sale	0	0
Total real estate	1,267,952	1,358,248
Operating Properties	'	'
Real Estate Properties [Line Items]	'	'
Land and land improvements	132,934	132,934
Buildings and improvements	593,422	587,574
Less: accumulated depreciation and amortization	-86,173	-82,420
Real estate, net	640,183	638,088
Real estate available and held for sale	204,653	228,328
Total real estate	844,836	866,416
Land	'	'
Real Estate Properties [Line Items]	'	'
Land and land improvements	809,517	803,238
Buildings and improvements	0	0
Less: accumulated depreciation and amortization	-3,682	-3,393
Real estate, net	805,835	799,845
Real estate available and held for sale	130,038	132,189
Total real estate	$935,873	$932,034

Real_Estate_Real_Estate_Availa

Real Estate (Real Estate Available and Held for Sale) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Real Estate Properties [Line Items]	'	'
Real estate available and held for sale	$334,691	$360,517
Residential Operating Properties	'	'
Real Estate Properties [Line Items]	'	'
Real estate available and held for sale	197,700	221,000
Land	'	'
Real Estate Properties [Line Items]	'	'
Real estate available and held for sale	$130,038	$132,189

Real_Estate_Acquisitions_Detai

Real Estate (Acquisitions) (Details) (Corporate Joint Venture, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2013
Real Estate Properties [Line Items]	'
Noncontrolling interest, ownership percentage by parent	63.00%
Joint venture, venture ownership percentage	37.00%
Real Estate Acquired in Satisfaction of Debt	'
Real Estate Properties [Line Items]	'
Mortgage loans on real estate, foreclosures	$25.50

Real_Estate_Dispositions_Detai

Real Estate (Dispositions) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Income from sale of residential property	$16,494,000	$23,697,000
Land cost of sales	3,654,000	0
Land sales revenue	4,143,000	0
Net proceeds from sales of real estate	157,090,000	107,192,000
Property sold, aggregate, carrying value	6,700,000	'
Net Lease	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Net proceeds from sales of real estate	7,800,000	'
Impairment of long-lived assets to be disposed of	3,000,000	'
Commercial Operating Properties	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Property sold, aggregate, carrying value	'	24,100,000
Gain (loss) on disposition of property	'	5,000,000
Condominium Units	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Proceeds from sale of other real estate	47,700,000	75,200,000
Income from sale of residential property	16,500,000	23,700,000
Real estate equity investment 51.9% | Net Lease	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Net proceeds from sales of real estate	$93,700,000	'
iStar's ownership percentage	51.90%	'
Master Planned Community [Member] | Residential Real Estate [Member]	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Number of Real Estate Properties Sold	2	'

Real_Estate_Discontinued_Opera

Real Estate (Discontinued Operations) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Real Estate [Abstract]	'	'
Revenues	'	$2,400,000
Total expenses	'	-1,200,000
Income (loss) from discontinued operations	$0	$1,246,000

Real_Estate_Tenant_Reimburseme

Real Estate (Tenant Reimbursements) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Real Estate [Abstract]	'	'
Customer reimbursements	$8.50	$7.70

Real_Estate_Allowance_for_doub

Real Estate (Allowance for doubtful accounts) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Real Estate Tenant Receivables	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Allowance for doubtful accounts receivable	$2.40	$3.40
Deferred Operating Lease	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Allowance for doubtful accounts receivable	$2.10	$2.50

Loans_Receivable_and_Other_Len2

Loans Receivable and Other Lending Investments, net (Schedule of Loans Receivable) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013	Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'		'	'
Total gross carrying value of loans	$1,693,100,000		$1,605,386,000		'	'
Reserves for loan losses	-370,076,000		-377,204,000		-521,795,000	-524,499,000
Total loans receivable, net	1,323,024,000		1,228,182,000		'	'
Other lending investments—securities	153,466,000		141,927,000		'	'
Total loans receivable and other lending investments, net(1)	1,476,490,000	[1]	1,370,109,000	[1]	'	'
Interest receivable	7,600,000		6,500,000		'	'
Senior mortgages	'		'		'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'		'	'
Total gross carrying value of loans	1,103,471,000		1,071,662,000		'	'
Subordinate mortgages	'		'		'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'		'	'
Total gross carrying value of loans	61,764,000		60,679,000		'	'
Corporate/Partnership loans	'		'		'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'		'	'
Total gross carrying value of loans	$527,865,000		$473,045,000		'	'
[1]	The Company's recorded investment in loans as of March 31, 2014 and December 31, 2013 also includes accrued interest of $7.6 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.

Loans_Receivable_and_Other_Len3

Loans Receivable and Other Lending Investments, net (Reserve for Loan Losses) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013
Allowance for Loan Losses [Roll Forward]	'		'
Reserve for loan losses at beginning of period	$377,204,000		$524,499,000
Provision for (recovery of) loan losses	-3,400,000	[1]	10,206,000	[1]
Charge-offs	-3,728,000		-12,910,000
Reserve for loan losses at end of period	370,076,000		521,795,000
Recoveries of previously recorded loan loss reserves	$5,200,000		$4,600,000
[1]	For the three months ended March 31, 2014 and 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $5.2 million and $4.6 million, respectively.

Loans_Receivable_and_Other_Len4

Loans Receivable and Other Lending Investments, net (Schedule of Investment in Loans) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013	Dec. 31, 2012
Loans	'		'		'	'
Individually Evaluated for Impairment(1)	$687,812,000	[1]	$752,425,000	[1]	'	'
Collectively Evaluated for Impairment(2)	1,003,264,000	[2]	849,613,000	[2]	'	'
Loans Acquired with Deteriorated Credit Quality(3)	9,586,000	[3]	9,889,000	[3]	'	'
Total	1,700,662,000		1,611,927,000		'	'
Less: Reserve for loan losses	'		'		'	'
Individually Evaluated for Impairment(1)	-339,076,000	[1]	-348,004,000	[1]	'	'
Collectively Evaluated for Impairment(2)	-31,000,000	[2]	-29,200,000	[2]	'	'
Loans Acquired with Deteriorated Credit Quality(3)	0	[3]	0	[3]	'	'
Total	-370,076,000		-377,204,000		-521,795,000	-524,499,000
Total	'		'		'	'
Individually Evaluated for Impairment(1)	348,736,000	[1]	404,421,000	[1]	'	'
Collectively Evaluated for Impairment(2)	972,264,000	[2]	820,413,000	[2]	'	'
Loans Acquired with Deteriorated Credit Quality(3)	9,586,000	[3]	9,889,000	[3]	'	'
Total	1,330,586,000		1,234,723,000		'	'
Unamortized discounts, premiums, deferred fees and costs, individually evaluated for impairment, net premium (discount)	-200,000		500,000		'	'
Unamortized discounts, premiums, deferred fees and costs, collectively evaluated for impairment, net premium (discount)	-7,600,000		-4,600,000		'	'
Unamortized discounts, premiums, deferred fees and costs, loans acquired with deteriorated credit quality, net premium (discount)	400,000		400,000		'	'
Cumulative principal balances of loans acquired with deteriorated credit quality	$9,900,000		$10,200,000		'	'
[1]	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $0.2 million and a net premium of $0.5 million as of March 31, 2014 and December 31, 2013, respectively. The Company's loans individually evaluated for impairment primarily represent loans on non-accrual status and therefore, the unamortized amounts associated with these loans are not currently being amortized into income.
[2]	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $7.6 million and $4.6 million as of March 31, 2014 and December 31, 2013, respectively.
[3]	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net premium of $0.4 million and $0.4 million as of March 31, 2014 and December 31, 2013, respectively. These loans had cumulative principal balances of $9.9 million and $10.2 million, as of March 31, 2014 and December 31, 2013, respectively.

Loans_Receivable_and_Other_Len5

Loans Receivable and Other Lending Investments, net (Credit Characteristics for Performing Loans) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating	'	'
Performing Loans	$1,700,662	$1,611,927
Senior mortgages	'	'
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating	'	'
Performing Loans	1,106,822	'
Subordinate mortgages	'	'
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating	'	'
Performing Loans	62,449	'
Corporate/Partnership loans	'	'
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating	'	'
Performing Loans	531,391	'
Real Estate Finance	'	'
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating	'	'
Performing Loans	1,180,505	1,091,340
Weighted Average Risk Ratings	3.14	3.11
Real Estate Finance | Senior mortgages	'	'
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating	'	'
Performing Loans	624,044	591,145
Weighted Average Risk Ratings	2.69	2.5
Real Estate Finance | Subordinate mortgages	'	'
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating	'	'
Performing Loans	62,449	61,364
Weighted Average Risk Ratings	3.4	3.37
Real Estate Finance | Corporate/Partnership loans	'	'
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating	'	'
Performing Loans	$494,012	$438,831
Weighted Average Risk Ratings	3.66	3.88

Loans_Receivable_and_Other_Len6

Loans Receivable and Other Lending Investments, net (Credit Characteristics by Payment Status) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Recorded investment in loans, aged by payment status and presented by class	'	'
Current	$1,251,925	'
Less Than and Equal to 90 Days	0	'
Greater Than 90 Days	448,737	'
Total Past Due	448,737	'
Total	1,700,662	1,611,927
Senior mortgages	'	'
Recorded investment in loans, aged by payment status and presented by class	'	'
Current	658,085	'
Less Than and Equal to 90 Days	0	'
Greater Than 90 Days	448,737	'
Total Past Due	448,737	'
Total	1,106,822	'
Subordinate mortgages	'	'
Recorded investment in loans, aged by payment status and presented by class	'	'
Current	62,449	'
Less Than and Equal to 90 Days	0	'
Greater Than 90 Days	0	'
Total Past Due	0	'
Total	62,449	'
Corporate/Partnership loans	'	'
Recorded investment in loans, aged by payment status and presented by class	'	'
Current	531,391	'
Less Than and Equal to 90 Days	0	'
Greater Than 90 Days	0	'
Total Past Due	0	'
Total	$531,391	'

Loans_Receivable_and_Other_Len7

Loans Receivable and Other Lending Investments, net (Impaired Loans) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013	Dec. 31, 2013
Financing Receivable, Impaired [Line Items]	'		'	'
Recorded Investment	$687,812,000	[1]	'	$752,425,000	[1]
Unpaid Principal Balance	683,632,000	[1]	'	747,522,000	[1]
Related Allowance	-339,076,000	[1]	'	-348,004,000	[1]
Loans modified through troubled debt restructurings	167,700,000		'	231,800,000
Average Recorded Investment	720,118,000		1,100,800,000	'
Interest Income Recognized	619,000		1,548,000	'
Senior mortgages	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Recorded Investment	599,758,000	[1]	'	653,349,000	[1]
Unpaid Principal Balance	595,605,000	[1]	'	648,455,000	[1]
Related Allowance	-297,173,000	[1]	'	-304,544,000	[1]
Average Recorded Investment	626,553,000		974,476,000	'
Interest Income Recognized	554,000		1,350,000	'
Subordinate mortgages	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Average Recorded Investment	0		53,888,000	'
Interest Income Recognized	0		0	'
Corporate/Partnership loans	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Recorded Investment	88,054,000	[1]	'	99,076,000	[1]
Unpaid Principal Balance	88,027,000	[1]	'	99,067,000	[1]
Related Allowance	-41,903,000	[1]	'	-43,460,000	[1]
Average Recorded Investment	93,565,000		72,436,000	'
Interest Income Recognized	65,000		198,000	'
With no related allowance recorded	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Average Recorded Investment	48,512,000		73,504,000	'
Interest Income Recognized	501,000		964,000	'
With no related allowance recorded | Senior mortgages	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Recorded Investment	94,013,000	[1]	'	3,012,000	[1]
Unpaid Principal Balance	93,286,000	[1]	'	2,992,000	[1]
Related Allowance	0	[1]	'	0	[1]
Average Recorded Investment	48,512,000		63,394,000	'
Interest Income Recognized	501,000		844,000	'
With no related allowance recorded | Corporate/Partnership loans	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Average Recorded Investment	0		10,110,000	'
Interest Income Recognized	0		120,000	'
With an allowance recorded	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Recorded Investment	593,799,000	[1]	'	749,413,000	[1]
Unpaid Principal Balance	590,346,000	[1]	'	744,530,000	[1]
Related Allowance	-339,076,000	[1]	'	-348,004,000	[1]
Average Recorded Investment	671,606,000		1,027,296,000	'
Interest Income Recognized	118,000		584,000	'
With an allowance recorded | Senior mortgages	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Recorded Investment	505,745,000	[1]	'	650,337,000	[1]
Unpaid Principal Balance	502,319,000	[1]	'	645,463,000	[1]
Related Allowance	-297,173,000	[1]	'	-304,544,000	[1]
Average Recorded Investment	578,041,000		911,082,000	'
Interest Income Recognized	53,000		506,000	'
With an allowance recorded | Subordinate mortgages	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Average Recorded Investment	0		53,888,000	'
Interest Income Recognized	0		0	'
With an allowance recorded | Corporate/Partnership loans	'		'	'
Financing Receivable, Impaired [Line Items]	'		'	'
Recorded Investment	88,054,000	[1]	'	99,076,000	[1]
Unpaid Principal Balance	88,027,000	[1]	'	99,067,000	[1]
Related Allowance	-41,903,000	[1]	'	-43,460,000	[1]
Average Recorded Investment	93,565,000		62,326,000	'
Interest Income Recognized	$65,000		$78,000	'
[1]	All of the Company's non-accrual loans are considered impaired and included in the table above. In addition, as of March 31, 2014 and December 31, 2013, certain loans modified through troubled debt restructurings with a recorded investment of $167.7 million and $231.8 million, respectively, are also included as impaired loans in accordance with GAAP although they are performing and on accrual status.

Loans_Receivable_and_Other_Len8

Loans Receivable and Other Lending Investments, net (Troubled Debt Restructurings) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	loans	loans
Performing senior mortgages	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Number of Loans	'	1
Senior mortgages	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Number of Loans	0	1
Pre-Modification Outstanding Recorded Investment	$0	$72,674
Post-Modification Outstanding Recorded Investment	$0	$65,000

Loans_Receivable_and_Other_Len9

Loans Receivable and Other Lending Investments, net (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2013	Mar. 31, 2014
Troubled debt restructurings	'	'
Carrying value of loans sold	$38.30	'
Realized investment gains (losses)	-0.6	'
Unfunded commitments, troubled debt restructurings	'	6.7
Performing senior mortgages	'	'
Troubled debt restructurings	'	'
Number of loans	1	'
Repayment of debt	'	'
Troubled debt restructurings	'	'
Recorded investment of loans whose maturity was extended	13.3	'
Non-performing senior mortgages	'	'
Troubled debt restructurings	'	'
Financing receivable modifications recorded investment of contracts whose maturity extended and reduced principal	$72.70	'

Recovered_Sheet1

Loans Receivable and Other Lending Investments, net (Securities) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Schedule of Debt Securities [Line Items]	'
Face Value	$150,216
Amortized Cost Basis	153,419
Estimated Fair Value	153,466
Net Carrying Amount	153,466
Municipal Bonds	'
Schedule of Debt Securities [Line Items]	'
Available-for-sale Securities, Face Value	1,040
Available-for-sale Securities, Amortized Cost Basis	1,040
Available-for-sale Securities, Net Unrealized Gain (Loss)	47
Available-for-sale Securities, Estimated Fair Value and Net Carrying Value	1,087
Corporate Debt Securities	'
Schedule of Debt Securities [Line Items]	'
Held-to-Maturity Securities, Face Value	149,176
Held-to-Maturity Securities, Amortized Cost Basis	152,379
Held-to-Maturity Securities, Net Unrealized Gain (Loss)	0
Held-to-Maturity Securities, Estimated Fair Value	152,379
Held-to-maturity Securities	152,379
Debt Securities	'
Schedule of Debt Securities [Line Items]	'
Available-for-sale Securities, Net Unrealized Gain (Loss)	$47

Other_Investments_Schedule_of_

Other Investments (Schedule of Other Investments) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2012		Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Equity method investments	$195,481	'	'		$197,307
Other, carrying value	9,616	'	'		9,902
Other investments	205,097	'	'		207,209
Earnings (loss) from equity method investments	3,177	21,678	'		'
Real estate equity investments	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Equity method investments	82,546	'	'		62,205
Earnings (loss) from equity method investments	245	1,763	'		'
Other equity method investments	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Equity method investments	46,605	'	'		45,954
Earnings (loss) from equity method investments	1,036	1,753	'		'
Madison Funds	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Equity method investments	45,520	'	'		67,782
Earnings (loss) from equity method investments	-402	2,259	'		'
Oak Hill Funds	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Equity method investments	20,810	'	'		21,366
Earnings (loss) from equity method investments	2,298	1,157	'		'
LNR Property LLC (LNR)	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Equity method investments	0	'	'		0
Earnings (loss) from equity method investments	0	'	45,375	[1],[2]	'
Income (loss) from equity method investments, net of OTTI	'	$14,746	'		'
[1]	During the three months ended March 31, 2013, the Company recorded an other than temporary impairment of $30.9 million.
[2]	The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the three months ended March 31, 2013 were based on balances and results from LNR for the three months ended December 31, 2012.

Other_Investments_LNR_Property

Other Investments (LNR Property Narrative) (Details) (LNR Property LLC (LNR), USD $)	1 Months Ended		3 Months Ended
	Apr. 30, 2013	Jul. 31, 2010	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2012		Jul. 28, 2010
LNR Property LLC (LNR)	'	'	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'		'
iStar's ownership percentage	'	'	'	'	24.00%	[1]	24.00%
Net sales proceeds	$220,300,000	'	'	'	'		'
Percentage of ownership acquired by the Company and a group of investors	'	'	'	'	'		100.00%
Contribution towards principal amount of Holdco Notes	'	100,000,000	'	'	'		'
Amount of cash contributed in exchange for equity interest	'	100,000,000	'	'	'		'
Equity interest in investee	'	'	'	'	'		120,000,000
Real estate, net proceeds held in escrow for potential indemnification obligations	'	'	'	25,200,000	'		'
Equity Method Ownership Rollforward [Roll Forward]	'	'	'	'	'		'
Equity Method Investment, Amount, Quarter Lag	220,281,000	'	205,773,000	'	'		'
Income (Loss) from Equity Method Investments, Before Other than Temporary Impairment	'	'	45,375,000	'	'		'
Equity Method Investment, Carrying Value Before OTTI	'	'	251,148,000	'	'		'
Other than temporary impairment	'	'	-30,867,000	'	'		'
Equity Method Investment, Amount, Quarter Lag	'	'	220,281,000	'	'		'
Income (loss) from equity method investments, net of OTTI	'	'	$14,746,000	'	'		'
[1]	The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the three months ended March 31, 2013 were based on balances and results from LNR for the three months ended December 31, 2012.

Other_Investments_Income_State

Other Investments (Income Statement) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2012		Jul. 28, 2010
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Earnings (loss) from equity method investments	$3,177,000	$21,678,000	'		'
LNR Property LLC (LNR)	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Total revenue(2)	'	'	77,780,000	[1],[2]	'
Income tax (expense) benefit	'	'	-279,000	[1]	'
Net income attributable to LNR	'	'	189,249,000	[1]	'
iStar's ownership percentage	'	'	24.00%	[1]	24.00%
Earnings (loss) from equity method investments	0	'	45,375,000	[1],[3]	'
Other than temporary impairment	'	-30,867,000	'		'
LNR and certain commercial mortgage backed securities and collateralized debt obligation trusts that are considered VIEs	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Servicing fee revenue	'	'	$29,300,000		'
[1]	The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the three months ended March 31, 2013 were based on balances and results from LNR for the three months ended December 31, 2012.
[2]	LNR consolidates certain commercial mortgage-backed securities and collateralized debt obligation trusts that are considered VIEs (and for which it is the primary beneficiary), that have been included in the amounts presented above. For the three months ended December 31, 2012, total revenue presented above includes $29.3 million of servicing fee revenue that is eliminated upon consolidation of the VIE's at the LNR level. This income is then added back through consolidation at the LNR level as an adjustment to income allocable to noncontrolling entities and has no net impact on net income attributable to LNR.
[3]	During the three months ended March 31, 2013, the Company recorded an other than temporary impairment of $30.9 million.

Other_Investments_Narrative_De

Other Investments (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'
Net proceeds from sales of real estate	$157,090,000	$107,192,000	'
Payments for Contributions to Unconsolidated Entities	22,978,000	1,448,000	'
Equity method investments	195,481,000	'	197,307,000
Earnings (loss) from equity method investments	3,177,000	21,678,000	'
Madison International Real Estate Fund IILP	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
iStar's ownership percentage	29.52%	'	'
Madison International Real Estate Fund IIILP	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
iStar's ownership percentage	32.92%	'	'
Madison GP1 Investors LP	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
iStar's ownership percentage	29.52%	'	'
Oak Hill Funds Group 2	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
iStar's ownership percentage	5.92%	'	'
Real estate equity investments	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Equity method investments	82,546,000	'	62,205,000
Earnings (loss) from equity method investments	245,000	1,763,000	'
Land | Other real estate equity investments	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Equity method investments	33,300,000	'	29,800,000
Net Lease	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Net proceeds from sales of real estate	7,800,000	'	'
Net Lease | Real estate equity investment 51.9%	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
iStar's ownership percentage	51.90%	'	'
Net proceeds from sales of real estate	93,700,000	'	'
Payments for Contributions to Unconsolidated Entities	17,700,000	'	'
Equity method investment, related party ownership percentage	0.60%	'	'
Equity method investment, related party promote fee percentage	50.00%	'	'
Equity Method Investment, Partner Ownership Percentage	47.50%	'	'
Equity method investments	17,100,000	'	'
Net Lease | Other real estate equity investments	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Equity method investments	16,400,000	'	16,400,000
Operating Properties | Other real estate equity investments	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Equity method investments	15,800,000	'	16,000,000
Operating Properties | Real estate equity investments	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
iStar's ownership percentage	33.00%	'	'
Earnings (loss) from equity method investments	'	2,500,000	'
Minimum | Other real estate equity investments	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
iStar's ownership percentage	31.00%	'	'
Maximum | Other real estate equity investments	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
iStar's ownership percentage	76.00%	'	'
Net Lease Asset	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Partners' capital account, contributions	$500,000,000	'	'

Other_Assets_and_Other_Liabili2

Other Assets and Other Liabilities (Other Assets) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013	Dec. 31, 2013
Other Assets and Other Liabilities [Abstract]	'		'	'
Intangible assets, net(1)	$60,014,000	[1]	'	$100,652,000	[1]
Other receivables	25,939,000		'	34,655,000
Deferred financing fees, net(2)	31,048,000	[2]	'	33,591,000	[2]
Leasing costs, net(3)	22,240,000	[3]	'	21,799,000	[3]
Corporate furniture, fixtures and equipment, net(4)	6,190,000	[4]	'	6,557,000	[4]
Other assets	41,189,000		'	40,726,000
Deferred expenses and other assets, net	186,620,000		'	237,980,000
Intangible assets, accumulated amortization	34,600,000		'	38,100,000
Amortization of above market lease	2,300,000		1,600,000	'
Amortization of intangible assets	2,500,000		2,500,000	'
Accumulated amortization of deferred financing fees	11,500,000		'	9,900,000
Accumulated amortization on leasing costs	7,000,000		'	7,100,000
Accumulated depreciation on corporate furniture, fixtures and equipment	$6,400,000		'	$6,200,000
[1]	Intangible assets, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible assets was $34.6 million and $38.1 million as of March 31, 2014 and December 31, 2013, respectively. The amortization of above market leases decreased operating lease income on the Company's Consolidated Statements of Operations by $2.3 million and $1.6 million for the three months ended March 31, 2014 and 2013, respectively. The amortization expense for other intangible assets was $2.5 million and $2.5 million for the three months ended March 31, 2014 and 2013, respectively. These amounts are included in “Depreciation and amortization” on the Company's Consolidated Statements of Operations.
[2]	Accumulated amortization on deferred financing fees was $11.5 million and $9.9 million as of March 31, 2014 and December 31, 2013, respectively.
[3]	Accumulated amortization on leasing costs was $7.0 million and $7.1 million as of March 31, 2014 and December 31, 2013, respectively.
[4]	Accumulated depreciation on corporate furniture, fixtures and equipment was $6.4 million and $6.2 million as of March 31, 2014 and December 31, 2013, respectively.

Other_Assets_and_Other_Liabili3

Other Assets and Other Liabilities (Schedule of Other Liabilities) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013	Dec. 31, 2013
Other Assets and Other Liabilities [Abstract]	'		'	'
Accrued expenses	$31,230,000		'	$58,840,000
Accrued interest payable	29,378,000		'	40,015,000
Intangible liabilities, net(1)	13,619,000	[1]	'	26,223,000	[1]
Other liabilities	37,968,000		'	45,753,000
Accounts payable, accrued expenses and other liabilities	112,195,000		'	170,831,000
Below market lease, accumulated amortization	4,500,000		'	4,600,000
Amortization of below market lease	$700,000		$1,100,000	'
[1]	Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $4.5 million and $4.6 million as of March 31, 2014 and December 31, 2013, respectively. The amortization of intangible liabilities increased operating lease income on the Company's Consolidated Statements of Operations by $0.7 million and $1.1 million for the three months ended March 31, 2014 and 2013, respectively.

Other_Assets_and_Other_Liabili4

Other Assets and Other Liabilities (Deferred Tax Assets and Liabilities) (Details) (USD $)	Dec. 31, 2012	Mar. 31, 2014		Dec. 31, 2013
		Taxable REIT Subsidiaries		Taxable REIT Subsidiaries
Schedule of deferred tax assets and liabilities [Line Items]	'	'		'
Deferred tax assets	'	$56,801,000	[1]	$55,962,000	[1]
Valuation allowance	'	-56,801,000		-55,962,000
Net deferred tax assets (liabilities)	'	0		0
Real estate asset basis differences	'	33,300,000		33,000,000
Operating loss carryforwards	608,000,000	16,000,000		14,900,000
Investment basis differences	'	$7,500,000		$8,100,000
[1]	Deferred tax assets as of March 31, 2014 include real estate basis differences of $33.3 million, net operating loss carryforwards of $16.0 million and investment basis differences of $7.5 million. Deferred tax assets as of December 31, 2013 include real estate basis differences of $33.0 million, net operating loss carryforwards of $14.9 million and investment basis differences of $8.1 million.

Debt_Obligations_net_Schedule_

Debt Obligations, net (Schedule of Debt) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013
Debt Instrument [Line Items]	'		'
Total debt obligations	$4,137,133		$4,196,589
Debt discounts, net	-35,083		-38,464
Total long-term debt obligations, net	4,102,050		4,158,125
2012 Tranche A-2 Facility	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	418,145	[1]	431,475	[1]
Variable interest rate, spread	5.75%	[1]	'
Variable interest rate, basis	'LIBOR	[1]	'
Effective interest rate	7.00%		'
February 2013 Secured Credit Facility	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	1,333,372	[2]	1,379,407	[2]
Variable interest rate, spread	3.50%	[2]	'
Variable interest rate, basis	'LIBOR	[2]	'
Effective interest rate	4.50%		'
Term loans collateralized by net lease assets	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	278,726	[3]	278,817	[3]
Stated interest rate, minimum	4.85%	[3]	'
Stated interest rate, maximum	7.26%	[3]	'
Total secured credit facilities and term loans	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	2,030,243		2,089,699
Unsecured Notes 6.05% senior notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	105,765		105,765
Stated interest rate	6.05%		'
Unsecured Notes 5.875% senior notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	261,403		261,403
Stated interest rate	5.88%		'
Unsecured Notes 3.875% senior notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	265,000		265,000
Stated interest rate	3.88%		'
Senior Convertible 3.0% notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	200,000	[4]	200,000	[4]
Stated interest rate	3.00%	[4]	'
Convertible debt conversion ratio	0.085		'
Senior Convertible 1.50% notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	200,000	[5]	200,000	[5]
Stated interest rate	1.50%	[5]	'
Convertible debt conversion ratio	0.0578		'
Unsecured Notes 5.85% senior notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	99,722		99,722
Stated interest rate	5.85%		'
Unsecured Notes 9.0% senior notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	275,000		275,000
Stated interest rate	9.00%		'
Unsecured Notes 7.125% senior notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	300,000		300,000
Stated interest rate	7.13%		'
Unsecured Notes 4.875% senior notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	300,000		300,000
Stated interest rate	4.88%		'
Unsecured Notes	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	2,006,890		2,006,890
Other debt obligations due in October, 2035	'		'
Debt Instrument [Line Items]	'		'
Total debt obligations	$100,000		$100,000
Variable interest rate, spread	1.50%		'
Variable interest rate, basis	'LIBOR		'
Minimum | 2012 Tranche A-2 Facility	'		'
Debt Instrument [Line Items]	'		'
Variable interest rate, spread	1.25%		'
Minimum | London Interbank Offered Rate (LIBOR) | February 2013 Secured Credit Facility	'		'
Debt Instrument [Line Items]	'		'
Variable interest rate, spread	1.00%		'
Property One | London Interbank Offered Rate (LIBOR) | Term loans collateralized by net lease assets	'		'
Debt Instrument [Line Items]	'		'
Variable interest rate, spread	2.00%		'
Property Two | London Interbank Offered Rate (LIBOR) | Term loans collateralized by net lease assets	'		'
Debt Instrument [Line Items]	'		'
Variable interest rate, spread	2.75%		'
[1]	These loans each have a LIBOR floor of 1.25%. As of March 31, 2014, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.
[2]	This loan has a LIBOR floor of 1.00%. As of March 31, 2014, inclusive of the floor, the February 2013 Secured Credit Facility incurred interest at a rate of 4.50%.
[3]	Includes a loan with a floating rate of LIBOR plus 2.00% and a loan with a floating rate of LIBOR plus 2.75%.
[4]	The Company's 3.0% senior convertible fixed rate notes due November 2016 ("3.0% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.0% Convertible Notes, at any time prior to the close of business on November 14, 2016.
[5]	The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at any time prior to the close of business on November 14, 2016.

Debt_Obligations_net_Future_Sc

Debt Obligations, net (Future Scheduled Maturities) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'	'
2014 (remaining nine months)	$23,603	'
2015	105,765	'
2016	926,403	'
2017	2,126,239	'
2018	616,611	'
Thereafter	338,512	'
Total principal maturities	4,137,133	4,196,589
Unamortized debt discounts, net	-35,083	-38,464
Total long-term debt obligations, net	4,102,050	4,158,125
Unsecured Debt	'	'
Debt Instrument [Line Items]	'	'
2014 (remaining nine months)	0	'
2015	105,765	'
2016	926,403	'
2017	374,722	'
2018	600,000	'
Thereafter	100,000	'
Total principal maturities	2,106,890	'
Unamortized debt discounts, net	-10,430	'
Total long-term debt obligations, net	2,096,460	'
Secured Debt	'	'
Debt Instrument [Line Items]	'	'
2014 (remaining nine months)	23,603	'
2015	0	'
2016	0	'
2017	1,751,517	'
2018	16,611	'
Thereafter	238,512	'
Total principal maturities	2,030,243	'
Unamortized debt discounts, net	-24,653	'
Total long-term debt obligations, net	$2,005,590	'

Debt_Obligations_net_Secured_C

Debt Obligations, net (Secured Credit Facility Narrative) (Details) (USD $)

3 Months Ended

1 Months Ended

3 Months Ended

15 Months Ended

3 Months Ended

24 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Feb. 28, 2013

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2013

Feb. 11, 2013

Oct. 15, 2012

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2012

Mar. 31, 2012

Dec. 31, 2012

Mar. 31, 2012

Mar. 31, 2012

Mar. 31, 2012

Mar. 31, 2012

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2012

Mar. 31, 2014

Mar. 31, 2014

Feb. 11, 2013

Mar. 31, 2014

Mar. 31, 2014

February 2013 Secured Credit Facility

February 2013 Secured Credit Facility

February 2013 Secured Credit Facility

February 2013 Secured Credit Facility

February 2013 Secured Credit Facility

February 2013 Secured Credit Facility

October 2012 Secured Credit Facility

2012 Tranche A-1 Facility

2012 Tranche A-1 Facility

2012 Tranche A-1 Facility

2012 Tranche A-1 Facility

2012 Tranche A-1 Facility

Secured 2011 Tranche A-2 Facility Due 2014

2012 Secured Credit Facilities

Unsecured Notes LIBOR plus 0.50% senior convertible notes

Unsecured Line of credit due June 2012

Unsecured Notes 5.50% senior notes

2012 Tranche A-2 Facility

2012 Tranche A-2 Facility

2012 Tranche A-2 Facility

Minimum

Minimum

Maximum

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

tranches

February 2013 Secured Credit Facility

2012 Tranche A-2 Facility

February 2013 Secured Credit Facility

Minimum

Minimum

February 2013 Secured Credit Facility

2012 Tranche A-1 Facility

Line of Credit Facility [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable interest rate, basis

'

'

'

'

'LIBOR

[1]

'

'

'

'

'

'LIBOR

'

'

'

'

'

'

'

'

'

'LIBOR

[2]

'

'

'

'

'

'

'

Debt instrument, face amount

'

'

'

'

'

'

'

'

$1,706,980,000

$1,820,000,000

'

'

'

'

$410,000,000

'

$880,000,000

'

'

'

'

'

$470,000,000

'

'

'

'

'

Debt instrument, covenant, minimum collateral coverage, one

'

'

'

'

'

'

'

'

125.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, covenant, minimum collateral coverage, two

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

137.50%

'

150.00%

'

'

Debt instrument, collateral, percent of proceeds from principal repayments and sales applied to repayment, one

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, collateral, percent of proceeds from principal repayments and sales applied to repayment, two

'

'

'

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, covenant, minimum collateral coverage, three

'

'

'

'

'

'

'

'

150.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, lender fees, amount

'

'

'

17,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, capitalized lender fees

'

'

'

14,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, lender fees, amount recorded as a loss on early extinguishment of debt

'

'

'

2,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, third party fees

'

'

'

3,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, third party fees, amount recognized

'

'

'

3,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, third party fees, amount capitalized

'

'

'

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayment of principal amount

60,863,000

846,562,000

'

'

'

373,600,000

'

'

'

'

'

'

51,900,000

'

'

'

'

606,700,000

244,000,000

90,300,000

'

'

'

'

'

'

'

'

Total debt obligations

4,137,133,000

'

4,196,589,000

'

1,333,372,000

[1]

1,333,372,000

[1]

1,379,407,000

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

418,145,000

[2]

431,475,000

[2]

'

'

'

'

'

'

Loss on early extinguishment of debt, net

-1,180,000

-9,541,000

'

'

-900,000

'

'

'

'

'

'

-3,000,000

'

'

'

'

'

'

'

'

-300,000

'

'

'

'

'

'

'

Debt instrument, unamortized discounts and financing fees

'

'

'

'

'

'

'

25,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of tranches

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

Percentage of par credit facilities were issued at

'

'

'

'

'

'

'

'

'

'

'

'

'

'

98.00%

'

'

'

'

'

'

'

98.50%

'

'

'

'

'

Variable interest rate, spread

'

'

'

'

3.50%

[1]

'

'

'

'

'

4.00%

'

'

'

'

'

'

'

'

'

5.75%

[2]

'

'

'

1.25%

'

1.00%

1.25%

Effective interest rate

'

'

'

'

4.50%

4.50%

'

'

'

'

'

'

'

'

'

'

'

5.50%

'

'

7.00%

'

'

'

'

'

'

'

Minimum aggregate cumulative amortization payment

'

'

'

'

'

'

'

'

'

'

'

'

'

$41,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Periods following the initial payment of amortization that additional amortization payments are due

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'6 months

'

'

'

'

'

'

'

'

'

'

'

'

[1]

This loan has a LIBOR floor of 1.00%. As of March 31, 2014, inclusive of the floor, the February 2013 Secured Credit Facility incurred interest at a rate of 4.50%.

[2]

These loans each have a LIBOR floor of 1.25%. As of March 31, 2014, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.

Debt_Obligations_net_Encumbere

Debt Obligations, net (Encumbered/Unencumbered Assets) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'		'
Real estate, net	$2,713,970		$2,796,181
Real estate available and held for sale	334,691		360,517
Loans receivable and other lending investments, net(1)	1,476,490	[1]	1,370,109	[1]
Other investments	205,097		207,209
Cash and other assets	757,467		907,995
Total assets	5,487,715		5,642,011
Financing receivable, allowance for credit losses, collectively evaluated for impairment	31,000	[2]	29,200	[2]
Encumbered Assets	'		'
Debt Instrument [Line Items]	'		'
Real estate, net	1,589,847		1,644,463
Real estate available and held for sale	129,005		152,604
Loans receivable and other lending investments, net(1)	836,572	[3]	860,557	[3]
Other investments	21,034		24,093
Cash and other assets	0		0
Total assets	2,576,458		2,681,717
Unencumbered Assets	'		'
Debt Instrument [Line Items]	'		'
Real estate, net	1,124,123		1,151,718
Real estate available and held for sale	205,686		207,913
Loans receivable and other lending investments, net(1)	670,918	[3]	538,752	[3]
Other investments	184,063		183,116
Cash and other assets	757,467		907,995
Total assets	$2,942,257		$2,989,494
[1]	The Company's recorded investment in loans as of March 31, 2014 and December 31, 2013 also includes accrued interest of $7.6 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.
[2]	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $7.6 million and $4.6 million as of March 31, 2014 and December 31, 2013, respectively.
[3]	As of March 31, 2014 and December 31, 2013, the amounts presented exclude general reserves for loan losses of $31.0 million and $29.2 million, respectively.

Debt_Obligations_net_Debt_Cove

Debt Obligations, net (Debt Covenants) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Unsecured Credit Facilities	'
Debt Instrument [Line Items]	'
Minimum ratio of unencumbered assets to unsecured indebtedness	1.2
Total secured credit facilities and term loans	'
Debt Instrument [Line Items]	'
Multiple of the minimum collateral coverage on outstanding borrowings	1.25
Percentage of REIT taxable income permitted for distribution under debt covenants	100.00%
Aggregate equity value permitted to be distributed	$200,000,000

Commitments_and_Contingencies_1

Commitments and Contingencies (Narrative) (Details)	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Percentage of capital committed to strategic investments that may be drawn down	100.00%

Commitments_and_Contingencies_2

Commitments and Contingencies (Unfunded Commitments) (Details) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Unfunded Financial Commitments [Line Items]	'
Performance-Based Commitments	$284,774
Discretionary Fundings	0
Strategic Investments	46,382
Total	331,156
Loans and Other Lending Investments	'
Unfunded Financial Commitments [Line Items]	'
Performance-Based Commitments	233,015
Discretionary Fundings	0
Strategic Investments	0
Total	233,015
Real Estate	'
Unfunded Financial Commitments [Line Items]	'
Performance-Based Commitments	51,759
Discretionary Fundings	0
Strategic Investments	0
Total	51,759
Strategic Investments	'
Unfunded Financial Commitments [Line Items]	'
Performance-Based Commitments	0
Discretionary Fundings	0
Strategic Investments	46,382
Total	$46,382

Derivatives_Classification_on_

Derivatives (Classification on the Consolidated Balance Sheets) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative financial instruments on consolidated balance sheets	'	'
Derivative Assets, Fair Value	$10,099	$11,175
Derivative Liabilities, Fair Value	1,623	1,653
Interest rate swap	'	'
Derivative financial instruments on consolidated balance sheets	'	'
Derivative Liabilities, Fair Value	0	0
Interest rate cap	'	'
Derivative financial instruments on consolidated balance sheets	'	'
Derivative Liabilities, Fair Value	0	0
Other Assets | Foreign exchange contracts	'	'
Derivative financial instruments on consolidated balance sheets	'	'
Derivative Assets, Fair Value	1,467	1,418
Other Assets | Interest rate swap	'	'
Derivative financial instruments on consolidated balance sheets	'	'
Derivative Assets, Fair Value	488	650
Other Assets | Interest rate cap	'	'
Derivative financial instruments on consolidated balance sheets	'	'
Derivative Assets, Fair Value	8,144	9,107
Other Liabilities | Foreign exchange contracts	'	'
Derivative financial instruments on consolidated balance sheets	'	'
Derivative Liabilities, Fair Value	$1,623	$1,653

Derivatives_Classification_on_1

Derivatives (Classification on the Consolidated Statements of Operations) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative financial instruments on consolidated statements of operations	'	'
Foreign currency transaction gain (loss)	$300,000	$100,000
Other Expense | Foreign exchange contracts | Designated as hedge	'	'
Derivative financial instruments on consolidated statements of operations	'	'
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	-452,000	'
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)	0	'
Other Expense | Foreign exchange contracts | Not designated as hedge	'	'
Derivative financial instruments on consolidated statements of operations	'	'
Amount of Gain or (Loss) Recognized in Income	1,498,000	10,156,000
Interest Expense | Interest rate cap | Designated as hedge	'	'
Derivative financial instruments on consolidated statements of operations	'	'
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	-962,000	'
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)	0	'
Interest Expense | Interest rate swap | Designated as hedge	'	'
Derivative financial instruments on consolidated statements of operations	'	'
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	-348,000	37,000
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)	$135,000	$74,000

Derivatives_Notional_Amounts_D

Derivatives (Notional Amounts) (Details)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Oct. 31, 2012
	Sells INR/Buys USD Forward	Sells INR/Buys USD Forward	Sells euro (EUR)/Buys USD Forward	Sells euro (EUR)/Buys USD Forward	Sells pound sterling (GBP)/Buys USD Forward	Sells pound sterling (GBP)/Buys USD Forward	Sells Canadian dollar (CAD)/Buys USD Forward	Sells Canadian dollar (CAD)/Buys USD Forward	Interest Rate Cap	Interest Rate Swap	Interest Rate Swap
	USD ($)	RSD	USD ($)	EUR (€)	USD ($)	GBP (£)	USD ($)	CAD	USD ($)	USD ($)	USD ($)
Derivative [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Notional Amount	$7,614	456,000	$99,479	€ 72,200	$6,335	£ 3,800	$37,564	41,500	$500,000	$27,831	$28,000
Maturity	30-Jun-15	30-Jun-15	3-Apr-14	3-Apr-14	3-Apr-14	3-Apr-14	3-Apr-14	3-Apr-14	'	'	'
Fixed Rate	'	'	'	'	'	'	'	'	1.00%	'	'
Variable Rate	'	'	'	'	'	'	'	'	'	2.00%	'
Fixed Rate	'	'	'	'	'	'	'	'	'	3.47%	'

Derivatives_Narrative_Details

Derivatives (Narrative) (Details) (USD $)	Mar. 31, 2014	Oct. 31, 2012	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
	Interest Rate Swap	Interest Rate Swap	Interest Rate Cap and Interest Rate Swap	Terminated Interest Rate Swap	Forward Contracts	Forward Contracts
Derivative [Line Items]	'	'	'	'	'	'
Notional amount	$27,831,000	$28,000,000	'	'	'	'
Expense related to qualifying cash flow hedges expected to be reclassified to earnings over the next 12 months	'	'	-600,000	500,000	'	'
Collateral already posted, aggregate fair value	'	'	'	'	$7,200,000	$7,200,000

Equity_Preferred_Stock_Details

Equity (Preferred Stock) (Details) (USD $)

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Maximum

Maximum

Minimum

Minimum

Series D

Series D

Series D

Series E

Series E

Series E

Series F

Series F

Series F

Series G

Series G

Series G

Series I

Series I

Series I

Series J Preferred Stock

Series J Preferred Stock

Series J Preferred Stock

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares Issued and Outstanding (in thousands)

25,800,000

25,800,000

'

'

'

'

4,000,000

'

4,000,000

5,600,000

'

5,600,000

4,000,000

'

4,000,000

3,200,000

'

3,200,000

5,000,000

'

5,000,000

'

4,000,000

4,000,000

Par Value (in dollars per share)

'

'

'

'

'

'

$0.00

'

$0.00

$0.00

'

$0.00

$0.00

'

$0.00

$0.00

'

$0.00

$0.00

'

$0.00

'

$0.00

$0.00

Liquidation Preference (in dollars per share)

'

'

'

'

'

'

$25

[1],[2]

'

$25

[1],[2]

$25

[1],[2]

'

$25

[1],[2]

$25

[1],[2]

'

$25

[1],[2]

$25

[1],[2]

'

$25

[1],[2]

$25

[1],[2]

'

$25

[1],[2]

$50

[1],[2]

$50

[1],[2]

$50

[1],[2]

Rate per Annum

'

'

'

'

'

'

8.00%

[1],[2]

'

8.00%

[1],[2]

7.88%

[1],[2]

'

7.88%

[1],[2]

7.80%

[1],[2]

'

7.80%

[1],[2]

7.65%

[1],[2]

'

7.65%

[1],[2]

7.50%

[1],[2]

'

7.50%

[1],[2]

4.50%

4.50%

[1],[2]

4.50%

[1],[2]

Equivalent to Fixed Annual Rate (per share)

'

'

'

'

'

'

$2

[1],[2]

'

$2

[1],[2]

$1.97

[1],[2]

'

$1.97

[1],[2]

$1.95

[1],[2]

'

$1.95

[1],[2]

$1.91

[1],[2]

'

$1.91

[1],[2]

$1.88

[1],[2]

'

$1.88

[1],[2]

'

$2.25

[1],[2]

$2.25

[1],[2]

Number of days in year used in the computation of preferred stock dividends for any partial dividend period

'360 days

'360 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of months used in the computation of preferred stock dividends for any partial dividend period

'12 months

'12 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of days in month, dividends computation of dividends payable for any partial dividend period

'30 days

'30 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of days prior to dividend payment date that Board of Directors may elect to designate as the payment date

'

'

'30 days

'30 days

'10 days

'10 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends declared and paid

'

'

'

'

'

'

$2,000,000

$2,000,000

'

$2,800,000

$2,800,000

'

$2,000,000

$2,000,000

'

$1,500,000

$1,500,000

'

$2,300,000

$2,300,000

'

'

$2,300,000

'

Amount of preferred dividends in arrears

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, value, public offering shares issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$200,000,000

'

'

Convertible preferred stock, shares issued upon conversion

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.9087

'

'

Convertible preferred stock, conversion price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$12.79

'

'

Preferred stock, liquidation redemption price, percent of liquidation preference

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

[1]

The Company declared and paid dividends of $2.0 million, $2.8 million, $2.0 million, $1.5 million and $2.3 million on its Series D, E, F, G and I preferred stock during the three months ended March 31, 2014 and 2013. The Company declared and paid dividends of $2.3 million on its Series J preferred stock during the three months ended March 31, 2014. All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding.

[2]

Holders of shares of the Series D, E, F, G, I and J preferred stock are entitled to receive dividends, when and as declared by the Board of Directors, out of funds legally available for the payment of dividends. Dividends are cumulative from the date of original issue and are payable quarterly in arrears on or before the 15th day of each March, June, September and December or, if not a business day, the next succeeding business day. Any dividend payable on the preferred stock for any partial dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends will be payable to holders of record as of the close of business on the first day of the calendar month in which the applicable dividend payment date falls or on another date designated by the Board of Directors of the Company for the payment of dividends that is not more than 30 nor less than 10 days prior to the dividend payment date.

Equity_Dividends_Details

Equity (Dividends) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2012
Dividends [Abstract]	'	'
Minimum percentage of taxable income (excluding net capital gains) to be distributed in order to qualify as REIT	90.00%	'
Percentage of taxable income (including net capital gains) to be distributed in order to qualify as REIT	100.00%	'
Operating loss carryforwards	'	$608

Equity_Stock_Repurchase_Progra

Equity (Stock Repurchase Program) (Details) (USD $)	1 Months Ended		3 Months Ended
	Sep. 30, 2013	31-May-12	Mar. 31, 2014
Stock Repurchase Program	'	'	'
Repurchase of common stock, authorized amount	$50,000,000	$20,000,000	'
Available repurchase of common stock, authorized amount	$16,000,000	'	$29,000,000

Equity_Accumulated_Other_Compr

Equity (Accumulated Other Comprehensive Income (Loss)) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accumulated other comprehensive income (loss) reflected in the Company's shareholders' equity	'	'
Unrealized losses on available-for-sale securities	($226)	($294)
Unrealized gains (losses) on cash flow hedges	-965	662
Unrealized losses on cumulative translation adjustment	-4,481	-4,644
Accumulated other comprehensive income (loss)	($5,672)	($4,276)

StockBased_Compensation_Plans_1

Stock-Based Compensation Plans and Employee Benefits (Stock-based Compensation) (Details) (USD $)

3 Months Ended

3 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Jan. 10, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 10, 2014

Dec. 31, 2013

Jan. 31, 2014

Mar. 31, 2014

Jan. 10, 2014

Jan. 31, 2014

Jan. 31, 2014

Feb. 28, 2013

Mar. 31, 2014

Mar. 31, 2014

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Long-term Incentive Plan 2006 and 2009

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Employees

Company's chairman and chief executive officer

Restricted stock units

Amended restricted stock units vesting on January 1, 2014

Service-based restricted stock units vesting on March 2014

Common Stock Subject to Sales Restriction [Member]

Common shares

Service-based restricted stock units

Service-based restricted stock units

Service-based restricted stock units

Performance-based restricted stock units vesting on December 31, 2016

Performance-based restricted stock units vesting on December 31, 2016

Performance-based restricted stock units vesting on December 31, 2016

Performance-based restricted stock units vesting on December 31, 2016

Performance-based restricted stock units vesting on December 31, 2016

Service-based restricted stock units vesting on February 1, 2016

Service-based restricted stock units vesting on February 1, 2016

Performance based restricted stock units vesting on December 31, 2014

Performance-based restricted stock units

Performance-based restricted stock units

Performance-based restricted stock units

Service based restricted stock units with specified vesting dates

Service based restricted stock units with specified vesting dates

Service-based restricted stock units vesting on June 15, 2014

Minimum

Maximum

Minimum

Maximum

Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock-based compensation expense

$2,075,000

$5,202,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized compensation cost

5,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted-average period to recognize the unrecognized compensation cost

'0 years 10 months 10 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deferred compensation share-based arrangements, liability, current and noncurrent

$600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares available for issuance

'

'

4,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vested (in shares)

'

'

'

1,736,053

1,696,053

40,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted shares awarded

'

'

'

898,598

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-vested, outstanding (in shares)

'

'

'

'

'

'

229,235

'

'

'

66,564

'

51,458

'

'

'

'

195,382

195,209

'

'

'

50,666

'

600,000

Vesting term

'

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

'3 years

'

Sale restriction period

'

'

'

'

'

'

'

'2 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Number

'

'

'

'

'

'

'

'

'

67,637

'

'

'

51,726

'

'

'

'

'

'

'

'

'

'

'

Vesting percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.00%

200.00%

'

'

'

'

0.00%

200.00%

'

'

'

Risk-free interest rate

'

'

'

'

'

'

'

'

'

'

'

0.76%

'

'

'

'

'

'

'

0.26%

'

'

'

'

'

Expected stock price volatility

'

'

'

'

'

'

'

'

'

'

'

44.84%

'

'

'

'

'

'

'

50.44%

'

'

'

'

'

StockBased_Compensation_Plans_2

Stock-Based Compensation Plans and Employee Benefits (Directors' Awards) (Details) (CSE and restricted stock units, USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
In Millions, except Share data, unless otherwise specified	Directors	Directors	Former director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Shares issued for settlement (in shares)	'	'	55,076
Non-vested, outstanding (in shares)	312,058	'	'
Aggregate intrinsic value for directors	'	$4.60	'

StockBased_Compensation_Plans_3

Stock-Based Compensation Plans and Employee Benefits (401(k) Plan) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'	'
Gross contributions made by the Company	$0.60	$0.50

Earnings_Per_Share_Schedule_of

Earnings Per Share (Schedule of Earnings Per Share) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations	'		'
Income (loss) from continuing operations	($30,671)	[1]	($62,240)	[1]
Net (income) loss attributable to noncontrolling interests	-454		189
Income from sales of residential property	16,494		23,697
Preferred dividends	-12,830		-10,580
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders	-27,461		-48,934
Numerator for basic and diluted earnings per share:	'		'
Gain from discontinued operations	0		5,044
Net income (loss) allocable to common shareholders	-26,572		-41,263
Denominator for basic and diluted earnings per share:	'		'
Weighted average number of common shares—basic and diluted	84,819	[1]	84,824	[1]
Weighted average number of HPU shares—basic and diluted	15	[1],[2]	15	[1],[2]
Basic and diluted earnings per common share:	'		'
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders (in dollars per share)	($0.31)	[1]	($0.56)	[1]
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders/HPU holders (in dollars per share)	($0.31)	[1]	($0.49)	[1]
Common shares	'		'
Numerator for basic and diluted earnings per share:	'		'
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders	-26,572		-47,350
Income (loss) from discontinued operations	0		1,206
Gain from discontinued operations	0		4,881
Net income (loss) allocable to common shareholders	-26,572		-41,263
Denominator for basic and diluted earnings per share:	'		'
Weighted average number of common shares—basic and diluted	84,819		84,824
Basic and diluted earnings per common share:	'		'
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders (in dollars per share)	($0.31)		($0.56)
Income (loss) from discontinued operations (in dollars per share)	$0		$0.01
Gain from discontinued operations (in dollars per share)	$0		$0.06
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders/HPU holders (in dollars per share)	($0.31)		($0.49)
HPU's	'		'
Numerator for basic and diluted earnings per share:	'		'
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders	-889		-1,584
Income (loss) from discontinued operations	0		40
Gain from discontinued operations	0		163
Net income (loss) allocable to common shareholders	($889)		($1,381)
Denominator for basic and diluted earnings per share:	'		'
Weighted average number of HPU shares—basic and diluted	15		15
Basic and diluted earnings per common share:	'		'
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders (in dollars per share)	($59.27)		($105.61)
Income (loss) from discontinued operations (in dollars per share)	$0		$2.67
Gain from discontinued operations (in dollars per share)	$0		$10.87
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders/HPU holders (in dollars per share)	($59.27)		($92.07)
[1]	Income (loss) from continuing operations attributable to iStar Financial Inc. for the three months ended March 31, 2014 and 2013 was $(31.3) million and $(62.1) million, respectively. See Note 13 for details on the calculation of earnings per share.
[2]	HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit Program.

Earnings_Per_Share_Antidilutiv

Earnings Per Share (Anti-dilutive Shares) (Details)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Joint venture shares	'	'
Anti-dilutive shares	'	'
Anti-dilutive shares	298	298
3.00% convertible senior unsecured notes	'	'
Anti-dilutive shares	'	'
Anti-dilutive shares	16,992	16,992
Series J convertible perpetual preferred stock	'	'
Anti-dilutive shares	'	'
Anti-dilutive shares	15,635	15,635
1.50% convertible senior unsecured notes	'	'
Anti-dilutive shares	'	'
Anti-dilutive shares	11,567	0

Fair_Values_Schedule_of_Fair_V

Fair Values (Schedule of Fair Value Measurement) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Recurring basis | Total	'		'
Assets and liabilities recorded at fair value	'		'
Derivative assets	$10,099		$11,175
Derivative liabilities	1,623		1,653
Recurring basis | Quoted market prices in active markets (Level 1)	'		'
Assets and liabilities recorded at fair value	'		'
Derivative assets	0		0
Derivative liabilities	0		0
Recurring basis | Significant other observable inputs (Level 2)	'		'
Assets and liabilities recorded at fair value	'		'
Derivative assets	10,099		11,175
Derivative liabilities	1,623		1,653
Recurring basis | Significant unobservable inputs (Level 3)	'		'
Assets and liabilities recorded at fair value	'		'
Derivative assets	0		0
Derivative liabilities	0		0
Non-recurring basis | Total	'		'
Assets and liabilities recorded at fair value	'		'
Impaired loans	136,536	[1]	115,423
Impaired real estate	'		35,680
Non-recurring basis | Quoted market prices in active markets (Level 1)	'		'
Assets and liabilities recorded at fair value	'		'
Impaired loans	0	[1]	0
Impaired real estate	'		0
Non-recurring basis | Significant other observable inputs (Level 2)	'		'
Assets and liabilities recorded at fair value	'		'
Impaired loans	0	[1]	0
Impaired real estate	'		5,744
Non-recurring basis | Significant unobservable inputs (Level 3)	'		'
Assets and liabilities recorded at fair value	'		'
Impaired loans	136,536	[1]	115,423
Impaired real estate	'		$29,936
[1]	The Company recorded a recovery on three loans with a combined fair value of $136.5 million based on the loans' remaining weighted average term of 1.2 years and weighted average discount rate of 7.3% using discounted cash flow analysis.

Fair_Values_Schedule_of_Fair_V1

Fair Values (Schedule of Fair Value Measurement Assumptions) (Details) (Non-recurring basis, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014		Dec. 31, 2013
	Loans and Other Lending Investments	Significant unobservable inputs (Level 3)		Significant unobservable inputs (Level 3)
	Discounted Cash Flow
	loans
Quantitative information about Level 3 fair value measures	'	'		'
Number of impaired loans	3	'		'
Impaired loans	'	$136,536	[1]	$115,423
Fair value assumptions, expected term	'1 year 2 months 12 days	'		'
Weighted average discount rate	7.30%	'		'
[1]	The Company recorded a recovery on three loans with a combined fair value of $136.5 million based on the loans' remaining weighted average term of 1.2 years and weighted average discount rate of 7.3% using discounted cash flow analysis.

Fair_Values_Narrative_Details

Fair Values (Narrative) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Financial assets:	'		'
Loans receivable and other lending investments, net	$1,476,490	[1]	$1,370,109	[1]
Financial liabilities:	'		'
Debt obligations, net	4,102,050		4,158,125
Fair Value	'		'
Financial assets:	'		'
Loans receivable and other lending investments, net	1,500,000		1,400,000
Financial liabilities:	'		'
Debt obligations, net	$4,400,000		$4,500,000
[1]	The Company's recorded investment in loans as of March 31, 2014 and December 31, 2013 also includes accrued interest of $7.6 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.

Segment_Reporting_Schedule_of_

Segment Reporting (Schedule of Segments) (Details) (USD $)

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2012

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

segments

LNR Property LLC (LNR)

LNR Property LLC (LNR)

LNR Property LLC (LNR)

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Operating Segments

Corporate, Non-Segment

Corporate, Non-Segment

Corporate, Non-Segment

Real Estate Finance

Real Estate Finance

Real Estate Finance

Net Lease

Net Lease

Net Lease

Operating Properties

Operating Properties

Operating Properties

Land

Land

Land

Corporate/Other

Corporate/Other

Corporate/Other

Segment Reporting

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of reportable segments

4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Operating lease income

$62,108

$58,015

'

'

'

'

$0

$0

'

$38,881

$36,651

'

$23,001

$21,364

'

$226

$0

'

$0

[1]

$0

[1]

'

Interest income

27,914

24,667

'

'

'

'

27,914

24,667

'

0

0

'

0

0

'

0

0

'

0

[1]

0

[1]

'

Other income

14,584

11,393

'

'

'

'

399

2,208

'

214

0

'

12,666

8,112

'

226

500

'

1,079

[1]

573

[1]

'

Land sales revenue

4,143

0

'

'

'

'

0

'

'

0

'

'

0

'

'

4,143

'

'

0

[1]

'

'

Total revenues

108,749

94,075

'

'

'

'

28,313

26,875

'

39,095

36,651

'

35,667

29,476

'

4,595

500

'

1,079

[1]

573

[1]

'

Earnings (loss) from equity method investments

3,177

21,678

'

0

'

45,375

[2],[3]

0

0

'

286

686

'

217

2,657

'

-258

-1,579

'

2,932

[1]

19,914

[1]

'

Income from sales of residential property

16,494

23,697

'

'

'

'

0

0

'

0

0

'

16,494

23,697

'

0

0

'

0

[1]

0

[1]

'

Net operating income from discontinued operations(2)

'

1,344

[4]

'

'

'

'

'

0

[4]

'

'

610

[4]

'

'

734

[4]

'

'

0

[4]

'

'

0

[1],[4]

'

Gain from discontinued operations

0

5,044

'

'

'

'

'

0

'

'

29

'

'

5,015

'

'

0

'

'

0

[1]

'

Revenue and other earnings

128,420

145,838

'

'

'

'

28,313

26,875

'

39,381

37,976

'

52,378

61,579

'

4,337

-1,079

'

4,011

[1]

20,487

[1]

'

Real estate expense

-42,613

-37,808

'

'

'

'

0

0

'

-5,674

-5,569

'

-28,614

-25,736

'

-8,325

-6,503

'

0

[1]

0

[1]

'

Land cost of sales

-3,654

0

'

'

'

'

0

'

'

0

'

'

0

'

'

-3,654

'

'

0

[1]

'

'

Other expense

-221

-5,625

'

'

'

'

-430

-1,444

'

0

0

'

0

0

'

0

0

'

209

[1]

-4,181

[1]

'

Allocated interest expense

-57,456

-71,566

[4]

'

'

'

'

-15,452

-19,952

[4]

'

-18,610

-20,745

[4]

'

-10,259

-14,622

[4]

'

-7,159

-9,288

[4]

'

-5,976

[1]

-6,959

[1],[4]

'

Allocated general and administrative(2)

-17,713

[5]

-16,646

[5]

'

'

'

'

-3,090

[5]

-3,074

[5]

'

-3,799

[5]

-3,052

[5]

'

-2,189

[5]

-2,231

[5]

'

-3,049

[5]

-1,849

[5]

'

-5,586

[1],[5]

-6,440

[1],[5]

'

Segment profit (loss)(4)

6,763

[6]

14,193

[6]

'

'

'

'

9,341

[6]

2,405

[6]

'

11,298

[6]

8,610

[6]

'

11,316

[6]

18,990

[6]

'

-17,850

[6]

-18,719

[6]

'

-7,342

[1],[6]

2,907

[1],[6]

'

Provision for (recovery of) loan losses

-3,400

[7]

10,206

[7]

'

'

'

'

-3,400

10,206

'

0

0

'

0

0

'

0

0

'

0

[1]

0

[1]

'

Impairment of assets

2,979

-32

[4]

'

'

'

'

0

0

[4]

'

2,979

0

[4]

'

0

-32

[4]

'

0

0

[4]

'

0

[1]

0

[1],[4]

'

Depreciation and amortization

18,613

17,454

[4]

'

'

'

'

0

0

[4]

'

10,128

9,642

[4]

'

7,864

7,206

[4]

'

304

264

[4]

'

317

[1]

342

[1],[4]

'

Capitalized expenditures

28,041

16,314

'

'

'

'

0

0

'

504

3,766

'

12,854

4,921

'

14,683

7,627

'

0

[1]

0

[1]

'

Real estate, at cost

3,147,119

'

3,220,634

'

'

'

0

'

0

1,611,246

'

1,696,888

726,356

'

720,508

809,517

'

803,238

0

[1]

'

0

[1]

Less: accumulated depreciation

-433,149

'

-424,453

'

'

'

0

'

0

-343,294

'

-338,640

-86,173

'

-82,420

-3,682

'

-3,393

0

[1]

'

0

[1]

Real estate, net

2,713,970

'

2,796,181

'

'

'

0

'

0

1,267,952

'

1,358,248

640,183

'

638,088

805,835

'

799,845

0

[1]

'

0

[1]

Real estate available and held for sale

334,691

'

360,517

'

'

'

0

'

0

0

'

0

204,653

'

228,328

130,038

'

132,189

0

[1]

'

0

[1]

Total real estate

3,048,661

'

3,156,698

'

'

'

0

'

0

1,267,952

'

1,358,248

844,836

'

866,416

935,873

'

932,034

0

[1]

'

0

[1]

Loans receivable and other lending investments, net

1,476,490

[8]

'

1,370,109

[8]

'

'

'

1,476,490

'

1,370,109

0

'

0

0

'

0

0

'

0

0

[1]

'

0

[1]

Other investments

205,097

'

207,209

'

'

'

0

'

0

33,441

'

16,408

15,794

'

16,032

33,312

'

29,765

122,550

[1]

'

145,004

[1]

Total portfolio assets

4,730,248

'

4,734,016

'

'

'

1,476,490

'

1,370,109

1,301,393

'

1,374,656

860,630

'

882,448

969,185

'

961,799

122,550

[1]

'

145,004

[1]

Cash and other assets

757,467

'

907,995

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total assets

5,487,715

'

5,642,011

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income (loss) from equity method investments, net of OTTI

'

'

'

'

14,746

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock-based compensation expense

$2,075

$5,202

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not related to the other reportable segments above, including the Company's share of equity in earnings from LNR of $14.7 million for the three months ended March 31, 2013. See Note 6 for further details on the Company's investment in LNR and summarized financial information of LNR.

[2]

During the three months ended March 31, 2013, the Company recorded an other than temporary impairment of $30.9 million.

[3]

The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the three months ended March 31, 2013 were based on balances and results from LNR for the three months ended December 31, 2012.

[4]

Includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.

[5]

General and administrative excludes stock-based compensation expense of $2.1 million and $5.2 million for the three months ended March 31, 2014 and 2013, respectively.

[6]

The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Three Months Ended March 31, 2014 2013Segment profit (loss)$6,763 $14,193Less: (Provision for) recovery of loan losses3,400 (10,206)Less: Impairment of assets(3)(2,979) 32Less: Stock-based compensation expense(2,075) (5,202)Less: Depreciation and amortization(3)(18,613) (17,454)Less: Income tax (expense) benefit(3)507 (4,075)Add: Gain (loss) on early extinguishment of debt, net(1,180) (9,541)Net income (loss)$(14,177) $(32,253)

[7]

For the three months ended March 31, 2014 and 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $5.2 million and $4.6 million, respectively.

[8]

The Company's recorded investment in loans as of March 31, 2014 and December 31, 2013 also includes accrued interest of $7.6 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.

Segment_Reporting_Reconciliati

Segment Reporting (Reconciliation of Segment Profit (Loss)) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Reconciliation of segment profit (loss) to income (loss) from continuing operations	'		'
Segment profit (loss)	$6,763	[1]	$14,193	[1]
Less: (Provision for) recovery of loan losses	3,400	[2]	-10,206	[2]
Segment Asset Impairment Charges	2,979	[3]	-32	[3]
Less: Stock-based compensation expense	-2,075		-5,202
Less: Depreciation and amortization(3)	-18,613	[3]	-17,454	[3]
Income Tax Expense (Benefit)	-507	[3]	4,075	[3]
Add: Gain (loss) on early extinguishment of debt, net	-1,180		-9,541
Net income (loss)	($14,177)		($32,253)
[1]	The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Three Months Ended March 31, 2014 2013Segment profit (loss)$6,763 $14,193Less: (Provision for) recovery of loan losses3,400 (10,206)Less: Impairment of assets(3)(2,979) 32Less: Stock-based compensation expense(2,075) (5,202)Less: Depreciation and amortization(3)(18,613) (17,454)Less: Income tax (expense) benefit(3)507 (4,075)Add: Gain (loss) on early extinguishment of debt, net(1,180) (9,541)Net income (loss)$(14,177) $(32,253)
[2]	For the three months ended March 31, 2014 and 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $5.2 million and $4.6 million, respectively.
[3]	Includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.