Safehold 10-Q3 Nov 152015 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	ISTAR INC.
Entity Central Index Key	1,095,651
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		84,804,518
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
ASSETS
Real estate, at cost		$ 2,969,113	$ 3,145,563
Less: accumulated depreciation		(478,575)	(468,849)
Real estate, net		2,490,538	2,676,714
Real estate available and held for sale	[1]	296,591	285,982
Total real estate		2,787,129	2,962,696
Loans receivable and other lending investments, net	[2]	1,585,399	1,377,843
Other investments		290,519	354,119
Cash and cash equivalents		656,742	472,061
Accrued interest and operating lease income receivable, net		15,533	16,367
Deferred operating lease income receivable, net		98,076	98,262
Deferred expenses and other assets, net		209,397	181,785
Total assets		5,642,795	5,463,133
Liabilities:
Accounts payable, accrued expenses and other liabilities		190,029	180,902
Loan Participations Payable, net		148,163	0
Debt obligations, net	[3]	4,144,817	4,022,684
Total liabilities		4,483,009	4,203,586
Commitments and contingencies (refer to Note 10)		0	0
Redeemable noncontrolling interests (refer to Note 4)		11,577	11,199
iStar Inc. shareholders' equity:
High Performance Units (refer to Note 12)		0	9,800
Common Stock, $0.001 par value, 200,000 shares authorized, 147,463 issued and 85,179 outstanding as of September 30, 2015 and 145,807 issued and 85,191 outstanding as of December 31, 2014		147	146
Additional paid-in capital		4,023,962	4,007,514
Retained earnings (deficit)		(2,633,164)	(2,556,469)
Accumulated other comprehensive income (loss) (refer to Note 12)		(5,313)	(971)
Treasury stock, at cost, $0.001 par value, 62,284 shares as of September 30, 2015 and 60,617 shares as of December 31, 2014		(283,256)	(262,954)
Total iStar Inc. shareholders' equity		1,102,402	1,197,092
Noncontrolling interests		45,807	51,256
Total equity		1,148,209	1,248,348
Total liabilities and equity		5,642,795	5,463,133
Series D, E, F, G and I Preferred Stock
iStar Inc. shareholders' equity:
Preferred Stock		22	22
Series J convertible perpetual preferred stock
iStar Inc. shareholders' equity:
Preferred Stock		$ 4	$ 4

[1]	As of September 30, 2015 and December 31, 2014, the Company had $132.8 million and $155.8 million, respectively, of residential properties available for sale in its operating properties portfolio.
[2]	The Company's recorded investment in loans as of September 30, 2015 and December 31, 2014 includes accrued interest of $8.9 million and $7.0 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's consolidated balance sheets.
[3]	The Company capitalized interest relating to development activities of $1.3 million and $4.0 million for the three and nine months ended September 30, 2015 and $1.4 million and $3.3 million for the three and nine months ended September 30, 2014.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares		Sep. 30, 2015	Dec. 31, 2014
Common Stock, par value (in dollars per share)		$ 0.001	$ 0.001
Common Stock, shares authorized		200,000,000	200,000,000
Common Stock, shares issued		147,463,000	145,807,000
Common Stock, shares outstanding		85,179,000	85,191,000
Treasury stock, par value (in dollars per share)		$ 0.001	$ 0.001
Treasury stock, shares		62,284,000	60,617,000
Series D, E, F, G and I Preferred Stock
Liquidation Preference (in dollars per share)	[1],[2]	$ 25	$ 25
Series J convertible perpetual preferred stock
Liquidation Preference (in dollars per share)	[1],[2]	$ 50	$ 50

[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 Company's 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 Company's Board of Directors 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 $6.0 million, $8.3 million, $5.9 million, $4.6 million and $7.0 million on its Series D, E, F, G and I Cumulative Redeemable Preferred Stock during the nine months ended September 30, 2015 and 2014. The Company declared and paid dividends of $6.8 million on its Series J Convertible Perpetual Preferred Stock during the nine months ended September 30, 2015 and 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.

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Operating lease income		$ 55,699	$ 60,691	$ 170,990	$ 183,766
Interest income		33,599	31,098	102,224	94,139
Other income		16,888	18,407	40,214	62,253
Land development revenue		14,301	3,290	29,101	11,920
Total revenues		120,487	113,486	342,529	352,078
Costs and expenses:
Interest expense		56,880	55,424	167,336	169,410
Real estate expense		35,154	41,285	111,143	124,452
Land development cost of sales		10,686	2,763	22,828	10,028
Depreciation and amortization		15,787	17,722	49,804	55,157
General and administrative		21,181	23,377	62,520	69,788
Provision for (recovery of) loan losses	[1]	7,500	(673)	30,944	(6,865)
Impairment of assets		3,916	15,462	5,590	21,741
Other expense		3,334	(285)	6,345	4,626
Total costs and expenses		154,438	155,075	456,510	448,337
Income (loss) before earnings from equity method investments and other items		(33,951)	(41,589)	(113,981)	(96,259)
Loss on early extinguishment of debt, net		(67)	(186)	(279)	(24,953)
Earnings from equity method investments		10,572	49,578	25,904	76,848
Income (loss) from continuing operations before income taxes		(23,446)	7,803	(88,356)	(44,364)
Income tax (expense) benefit		2,893	(103)	(3,796)	619
Income (loss) from continuing operations	[2]	(20,553)	7,700	(92,152)	(43,745)
Income from sales of real estate		26,511	27,791	66,021	61,465
Net income (loss)		5,958	35,491	(26,131)	17,720
Net (income) loss attributable to noncontrolling interests		706	412	3,176	(367)
Net income (loss) attributable to iStar Inc.		6,664	35,903	(22,955)	17,353
Preferred dividends		(12,830)	(12,830)	(38,490)	(38,490)
Net (income) loss allocable to HPU holders and Participating Security holders	[3],[4]	94	(746)	1,627	683
Net income (loss) allocable to common shareholders		$ (6,072)	$ 22,327	$ (59,818)	$ (20,454)
Basic earnings per common share:
Income (loss) attributable to iStar Inc. from continuing operations—Basic (in dollars per share)	[2]	$ (0.07)	$ 0.26	$ (0.70)	$ (0.24)
Income (loss) attributable to iStar Inc. from continuing operations—Diluted (in dollars per share)	[2]	(0.07)	0.21	(0.70)	(0.24)
Net income (loss) attributable to iStar Inc.—Basic (in dollars per share)	[2]	(0.07)	0.26	(0.70)	(0.24)
Net income (loss) attributable to iStar Inc.—Diluted (in dollars per share)	[2]	$ (0.07)	$ 0.21	$ (0.70)	$ (0.24)
Weighted average number of common shares, Basic	[2]	85,766	85,163	85,602	84,967
Weighted average number of common shares, Diluted	[2]	85,766	130,160	85,602	84,967
Per HPU share data:
Income (loss) attributable to iStar Inc. from continuing operations—Basic (in dollars per share)	[2],[3]	$ (13.41)	$ 49.60	$ (132.19)	$ (45.53)
Income (loss) attributable to iStar Inc. from continuing operations—Diluted (in dollars per share)	[2],[3]	(13.41)	40.13	(132.19)	(45.53)
Net income (loss) attributable to iStar Financial Inc.—Basic (in dollars per share)	[2],[3]	(13.41)	49.60	(132.19)	(45.53)
Net income (loss) attributable to iStar Financial Inc.—Diluted (in dollars per share)	[2],[3]	$ (13.41)	$ 40.13	$ (132.19)	$ (45.53)
Weighted average High Performance Units outstanding for basic earnings per share	[2],[3]	7	15	12	15
Weighted average High Performance Units outstanding for diluted earnings per share	[2],[3]	7	15	12	15

[1]	For the three and nine months ended September 30, 2015, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.1 million and $0.6 million, respectively. For the three and nine months ended September 30, 2014, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.9 million and $8.5 million, respectively.
[2]	Income (loss) from continuing operations attributable to iStar Inc. was $(19.8) million and $(89.0) million for the three and nine months ended September 30, 2015, respectively, and $8.1 million and $(44.1) million for the three and nine months ended September 30, 2014, respectively. Refer to Note 14 for details on the calculation of earnings per share.
[3]	All of the Company's outstanding High Performance Units ("HPUs") were repurchased and retired on August 13, 2015 (refer to Note 12)
[4]	Participating Security holders are non-employee directors who hold common stock equivalents and restricted stock awards granted under the Company's Long Term Incentive Plans that are eligible to participate in dividends (refer to Note 13 and Note 14).

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income (Loss) from Continuing Operations Attributable to Parent	$ (19.8)	$ 8.1	$ (89)	$ (44.1)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 5,958	$ 35,491	$ (26,131)	$ 17,720
Other comprehensive income (loss):
Reclassification of (gains)/losses on available-for-sale securities into earnings upon realization	[1]	0	0	(2,531)	0
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization	[2]	250	(32)	600	3,698
Realization of (gains)/losses on cumulative translation adjustment into earnings upon realization	[3]	0	0	0	968
Unrealized gains/(losses) on available-for-sale securities		31	23	(607)	134
Unrealized gains/(losses) on cash flow hedges		(765)	411	(1,566)	(4,193)
Unrealized gains/(losses) on cumulative translation adjustment		(123)	(4)	(238)	320
Other comprehensive income (loss)		(607)	398	(4,342)	927
Comprehensive income (loss)		5,351	35,889	(30,473)	18,647
Comprehensive (income) loss attributable to noncontrolling interests		706	410	3,176	(364)
Comprehensive income (loss) attributable to iStar Inc.		$ 6,057	$ 36,299	$ (27,297)	$ 18,283

[1]	Included in "Other income" in the Company's consolidated statements of operations.
[2]	Included in "Interest expense" in the Company's consolidated statements of operations are $132 and $251 for the three and nine months ended September 30, 2015, respectively, and $(32) and $64 for the three and nine months ended September 30, 2014, respectively. For the three and nine months ended September 30, 2015, $118 and $349, respectively, are included in "Earnings from equity method investments" in the Company consolidated statements of operations. For the nine months ended September 30, 2014, $3,634 is included in "Other expense" in the Company's consolidated statements of operations (refer to Note 11).
[3]	Included in "Earnings from equity method investments" in the Company's consolidated statements of operations.

Consolidated Statements of Com7

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization	[1]	$ 250	$ (32)	$ 600	$ 3,698
Interest Expense
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization		132	$ (32)	251	64
Earnings from equity method investments
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization		$ 118		$ 349
Other Expense
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization					$ (3,634)

[1]	Included in "Interest expense" in the Company's consolidated statements of operations are $132 and $251 for the three and nine months ended September 30, 2015, respectively, and $(32) and $64 for the three and nine months ended September 30, 2014, respectively. For the three and nine months ended September 30, 2015, $118 and $349, respectively, are included in "Earnings from equity method investments" in the Company consolidated statements of operations. For the nine months ended September 30, 2014, $3,634 is included in "Other expense" in the Company's consolidated statements of operations (refer to Note 11).

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands		Total		Preferred Stock	[1]	Series J Preferred Stock	[1]	HPU's		Common Stock at Par		Additional Paid-In Capital		Retained Earnings (Deficit)		Accumulated Other Comprehensive Income (Loss)	Treasury Stock at Cost	Noncontrolling Interests
Beginning Balance at Dec. 31, 2013		$ 1,301,465		$ 22		$ 4		$ 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		(38,490)												(38,490)
Issuance of stock/restricted stock unit amortization, net		(11,385)								2		(11,387)
Net income (loss) for the period	[2]	19,046												17,353				1,693
Change in accumulated other comprehensive income (loss)		927														927
Change in additional paid in capital attributable to redeemable noncontrolling interest		(1,091)										(1,091)
Contributions from noncontrolling interests		505																505
Distributions to noncontrolling interests		(4,787)																(4,787)
Change in noncontrolling interests	[3]	3,915																3,915
Ending Balance at Sep. 30, 2014		1,262,275		22		4		9,800		146		4,009,660		(2,542,755)		(3,349)	(262,954)	51,701
Beginning Balance at Dec. 31, 2014		1,248,348		22		4		9,800		146		4,007,514		(2,556,469)		(971)	(262,954)	51,256
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared—preferred		(38,490)												(38,490)
Issuance of stock/restricted stock unit amortization, net		4,320										4,320
Net income (loss) for the period	[2]	(23,400)												(22,955)				(445)
Change in accumulated other comprehensive income (loss)		(4,342)														(4,342)
Repurchase of stock		(20,302)															(20,302)
HPUs acquired during period, value		(9,811)	[4]					$ (9,800)	[4]	1	[4]	15,238	[4]	(15,250)	[4]	0	0	0
Change in additional paid in capital attributable to redeemable noncontrolling interest		(3,110)										(3,110)
Contributions from noncontrolling interests		127																127
Distributions to noncontrolling interests		(5,131)																(5,131)
Ending Balance at Sep. 30, 2015		$ 1,148,209		$ 22		$ 4				$ 147		$ 4,023,962		$ (2,633,164)		$ (5,313)	$ (283,256)	$ 45,807

[1]	Refer to Note 12 for details on the Company's Cumulative Redeemable Preferred Stock.
[2]	For the nine months ended September 30, 2015 and 2014, net income (loss) shown above excludes $2,731 and $1,326 of net loss attributable to redeemable noncontrolling interests.
[3]	During the nine months ended September 30, 2014, the Company sold its 72% interest in a previously consolidated entity to one of its unconsolidated ventures (refer to Note 4 and Note 6).
[4]	All of the Company's outstanding HPUs were repurchased and retired on August 13, 2015 (refer to Note 12).

Consolidated Statements of Cha9

Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Stockholders' Equity [Abstract]
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	$ (2,731)	$ (1,326)
Noncontrolling Interest, Ownership Percentage by Parent	90.00%	72.00%

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)		$ (26,131)	$ 17,720
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Provision for (recovery of) loan losses	[1]	30,944	(6,865)
Impairment of assets		5,590	21,741
Depreciation and amortization		49,804	55,157
Payments for withholding taxes upon vesting of stock-based compensation		(1,683)	(18,482)
Non-cash expense for stock-based compensation		10,066	8,544
Amortization of discounts/premiums and deferred financing costs on debt obligations, net		12,745	12,937
Amortization of discounts/premiums and deferred interest on loans, net		(61,403)	(44,953)
(Gain) loss from sales of loans		0	(19,067)
Earnings from equity method investments		(25,904)	(76,848)
Distributions from operations of other investments		13,487	76,719
Deferred operating lease income		(5,374)	(6,787)
Income from sales of real estate and land development		(72,294)	(63,357)
Loss on early extinguishment of debt, net		279	24,953
Debt discount and prepayment penalty on repayments and repurchases of debt obligations		(576)	(14,532)
Other operating activities, net		12,292	33,732
Changes in assets and liabilities:
Changes in accrued interest and operating lease income receivable, net		834	1,189
Changes in deferred expenses and other assets, net		97	(4,904)
Changes in accounts payable, accrued expenses and other liabilities		(29,737)	(7,247)
Cash flows used in operating activities		(86,964)	(10,350)
Cash flows from investing activities:
Originations and fundings of loans receivable, net		(435,700)	(361,858)
Capital expenditures on real estate assets		(122,588)	(103,511)
Acquisitions of real estate assets		0	(2,964)
Repayments of and principal collections on loans receivable and other lending investments, net		238,468	454,951
Net proceeds from sales of loans receivable		6,655	65,029
Net proceeds from sales of real estate and land development		310,736	331,733
Distributions from other investments		93,156	55,567
Contributions to other investments		(9,304)	(157,431)
Changes in restricted cash held in connection with investing activities		(9,065)	27,187
Other investing activities, net		12,347	(998)
Cash flows from (used in) investing activities		84,705	307,705
Cash flows from financing activities:
Borrowings from debt obligations		549,000	1,349,822
Repayments of debt obligations		(430,048)	(1,445,635)
Proceeds from loan participations payable		138,075	0
Preferred dividends paid		(38,490)	(38,490)
Repurchase of stock		(19,004)	0
Redemption of HPUs		(9,811)	0
Payments for deferred financing costs		(2,255)	(19,552)
Other financing activities, net		(939)	(4,280)
Cash flows from (used in) financing activities		186,528	(158,135)
Effect of exchange rate changes on cash		412	0
Changes in cash and cash equivalents		184,681	139,220
Cash and cash equivalents at beginning of period		472,061	513,568
Cash and cash equivalents at end of period		$ 656,742	$ 652,788

[1]	For the three and nine months ended September 30, 2015, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.1 million and $0.6 million, respectively. For the three and nine months ended September 30, 2014, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.9 million and $8.5 million, respectively.

Business and Organization

Business and Organization	9 Months Ended
Business and Organization	Sep. 30, 2015
Business and Organization [Abstract]
Business and Organization	Business and Organization Business —iStar Inc. (the "Company"), doing business as "iStar", finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. The Company has invested more than $35 billion over the past two decades and is structured as a real estate investment trust ("REIT") with a diversified portfolio focused on larger assets located in major metropolitan markets. The Company's primary business segments are real estate finance, net lease, operating properties and land & development (refer to Note 16 ). 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 investments, as well as through corporate acquisitions.

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	9 Months Ended
Basis of Presentation and Principles of Consolidation	Sep. 30, 2015
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, 2014 , as amended on Form 10-K/A on March 27, 2015 (the " 2014 Annual Report"). 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 2015 presentation. During the year ended December 31, 2014, the Company determined that its classification of proceeds received from land sales for the quarterly periods ended March 31, June 30 and September 30, 2014 was incorrectly classified as a component of cash flows from operating activities rather than cash flows from investing activities. The Company evaluated the impact on the previously issued statements of cash flows for the aforementioned periods and concluded that it was not material. However, in order to correctly present such cash flows, the Company will revise the amounts as those financial statements are presented in the respective 2015 quarterly filings. The impact of the correction for the nine months ended September 30, 2014 is as follows ($ in thousands): As Previously Reported Change As Revised Cash flows from operating activities: Nine months ended September 30, 2014 $ 1,570 $ (11,920 ) $ (10,350 ) Cash flows from investing activities: Nine months ended September 30, 2014 $ 295,785 $ 11,920 $ 307,705 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," "Real estate expense" and "Interest expense" in the Company's consolidated statements of operations. The Company has not provided financial support to those VIEs that it was not previously contractually required to provide. Consolidated VIEs —As of September 30, 2015 , the Company consolidated four VIEs for which it is considered the primary beneficiary. As of September 30, 2015 , the total assets of these consolidated VIEs were $202.1 million and total liabilities were $26.1 million . The classifications of these assets are primarily within "Real estate, net" and "Other investments" on the Company's consolidated balance sheets. The classifications of liabilities are primarily within "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 September 30, 2015 . Unconsolidated VIEs —As of September 30, 2015 , 25 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 September 30, 2015 , the Company's maximum exposure to loss from these investments does not exceed the sum of the $161.9 million carrying value of the investments, which are classified in "Other investments" on the Company's consolidated balance sheets, and $21.6 million of related unfunded commitments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Loan participations payable, net — The Company accounts for transfers of financial assets under ASC Topic 860, “Transfers and Servicing”, as either sales or secured borrowings. Transfers of financial assets that result in sales accounting are those in which (1) the transfer legally isolates the transferred assets from the transferor, (2) the transferee has the right to pledge or exchange the transferred assets and no condition both constrains the transferee’s right to pledge or exchange the assets and provides more than a trivial benefit to the transferor, and (3) the transferor does not maintain effective control over the transferred assets. If the transfer does not meet these criteria, the transfer is presented on the balance sheet as "Loan participations payable, net". Financial asset activities that are accounted for as sales are removed from the balance sheet with any realized gain (loss) reflected in earnings during the period of sale. As of September 30, 2015 , the remainder of the Company's significant accounting policies, which are detailed in the Company's 2014 Annual Report, have not changed materially. New Accounting Pronouncements — In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16") which requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined. The amendments in ASU 2015-16 require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments in ASU 2015-16 also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The guidance is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been issued. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03") which requires debt issuance costs to be presented as a deduction from the carrying value of the related debt obligation in the balance sheet, which is consistent with the presentation of debt discounts. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which clarified that ASU 2015-03 does not address issuance costs associated with revolving-debt arrangements and that it would be acceptable for an entity deferring such costs to present such costs as an asset and subsequently amortize the costs ratably over the term of the revolving debt arrangement. The guidance is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis ("ASU 2015-02") which updates the consolidation model for limited partnerships and similar legal entities. ASU 2015-02 includes the evaluation of fees paid to a decision maker as a variable interest and amends the effect of fee arrangements and related parties on the primary beneficiary determination. The guidance is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management is evaluating the impact of the guidance on the Company's consolidated financial statements. In November 2014, the FASB issued ASU 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity ("ASU 2014-16") which eliminates the diversity in practice for the accounting for hybrid financial instruments issued in the form of a share. ASU 2014-16 requires management to consider all terms and features, whether stated or implied, of a hybrid instrument when determining whether the nature of the instrument is more akin to a debt instrument or an equity instrument. Embedded derivative features, which are accounted for separately from host contracts, should also be considered in the analysis of the hybrid instrument. ASU 2014-16 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern ("ASU 2014-15") which requires management to evaluate whether there is substantial doubt that the Company is able to continue operating as a going concern within one year after the date the financial statements are issued or available to be issued. If there is substantial doubt, additional disclosure is required, including the principal condition or event that raised the substantial doubt, the Company's evaluation of the condition or event in relation to its ability to meet its obligations and the Company's plan to alleviate (or, which is intended to alleviate) the substantial doubt. ASU 2014-15 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12") which requires a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition in accordance with Topic 718, Compensation—Stock Compensation . ASU 2014-12 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") which supersedes existing industry-specific guidance, including ASC 360-20, Real Estate Sales . The new standard is principles-based and requires more estimates and judgment than current guidance. Certain contracts with customers, including lease contracts and financial instruments and other contractual rights, are not within the scope of the new guidance. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date , to defer the effective date of ASU 2014-09 by one year. ASU 2014-09 is now effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted beginning January 1, 2017. Management is evaluating the impact of the guidance on the Company's consolidated financial statements.

Real Estate

Real Estate	9 Months Ended
Real Estate	Sep. 30, 2015
Real Estate [Abstract]
Real Estate	Real Estate The Company's real estate assets were comprised of the following ($ in thousands): Net Lease Operating Properties Land & Development Total As of September 30, 2015 Land and land improvements, at cost $ 309,522 $ 134,490 $ 874,543 $ 1,318,555 Buildings and improvements, at cost 1,227,500 423,058 — 1,650,558 Less: accumulated depreciation (386,225 ) (82,821 ) (9,529 ) (478,575 ) Real estate, net 1,150,797 474,727 865,014 2,490,538 Real estate available and held for sale (1) 1,953 136,945 157,693 296,591 Total real estate $ 1,152,750 $ 611,672 $ 1,022,707 $ 2,787,129 As of December 31, 2014 Land and land improvements, at cost $ 311,890 $ 146,417 $ 868,650 $ 1,326,957 Buildings and improvements, at cost 1,240,593 578,013 — 1,818,606 Less: accumulated depreciation (364,323 ) (96,159 ) (8,367 ) (468,849 ) Real estate, net 1,188,160 628,271 860,283 2,676,714 Real estate available and held for sale (1) 4,521 162,782 118,679 285,982 Total real estate $ 1,192,681 $ 791,053 $ 978,962 $ 2,962,696 _______________________________________________________________________________ (1) As of September 30, 2015 and December 31, 2014 , the Company had $132.8 million and $155.8 million , respectively, of residential properties available for sale in its operating properties portfolio. Real Estate Available and Held for Sale— During the nine months ended September 30, 2015 , the Company reclassified residential units and lots with a carrying value of $55.5 million and net lease assets with a carrying value of $8.2 million to held for sale due to substantial completion of construction and active marketing for sale. During the nine months ended September 30, 2015 , the Company reclassified a commercial operating property with a carrying value of $2.9 million to held for investment due to a change in business strategy. Acquisitions— The following acquisitions of real estate were reflected in the Company's consolidated statements of cash flows for the nine months ended September 30, 2015 and 2014 ($ in thousands): For the Nine Months Ended September 30, 2015 2014 Acquisitions of real estate assets — 2,964 (1) _______________________________________________________________________________ (1) During the nine months ended September 30, 2014 , the Company purchased two condominium units for $3.0 million . During the nine months ended September 30, 2015 , the Company acquired, via deed-in-lieu, title to a residential property, which had a total fair value of $13.4 million and previously served as collateral for loans receivable held by the Company. No gain or loss was recorded in connection with this transaction. During the nine months ended September 30, 2014 , the Company acquired, via deed-in-lieu, title to three commercial operating properties and a land asset, which had a total fair value of $77.9 million and previously served as collateral for loans receivable held by the Company. No gain or loss was recorded in connection with this transaction. The following table summarizes the Company's pro forma revenues and net income for the nine months ended September 30, 2014 , as if the acquisition of the properties acquired during the nine months ended September 30, 2014 was completed on January 1, 2013 ($ in thousands): Pro forma total revenues 356,378 Pro forma net income (loss) 17,306 From the date of acquisition through September 30, 2014 , $5.3 million in total revenues and $1.7 million in net loss of the acquiree are included in the Company’s consolidated statements of operations for the three and nine months ended September 30, 2014 . The pro forma revenues and net income are presented for informational purposes only and may not be indicative of what the actual results of operations of the Company would have been assuming the transaction occurred on January 1, 2013, nor do they purport to represent the Company’s results of operations for future periods. Dispositions— During the nine months ended September 30, 2015 and 2014 , the Company sold residential condominiums for total net proceeds of $113.4 million and $165.6 million , respectively, and recorded income from sales of real estate totaling $36.8 million and $56.9 million , respectively. During the nine months ended September 30, 2015 , the Company sold net lease assets for net proceeds of $39.4 million resulting in a gain of $15.6 million . The gain was recorded in "Income from sales of real estate" in the Company's consolidated statements of operations. During the nine months ended September 30, 2015, the Company sold a commercial operating property for $68.5 million to a newly formed unconsolidated entity in which the Company owns a 50.0% equity interest (refer to Note 6). The Company recognized a gain on sale of $13.6 million , reflecting the Company's share of the interest sold, which was recorded as "Income from sales of real estate" in the Company's consolidated statements of operations. During the nine months ended September 30, 2015 , the Company sold residential lots and units for proceeds of $29.1 million which had associated cost of sales of $22.8 million . In April 2015 , the Company transferred a land asset to a purchaser at a stated price of $16.1 million , as part of an agreement to construct an amphitheater, for which the Company received proceeds of $5.3 million , with the remainder to be received upon completion of the development project. Due to the Company's continuing involvement in the project, no sale was recognized and the proceeds were recorded in "Accounts payable, accrued expenses and other liabilities" on the Company's consolidated balance sheets (refer to Note 7 ). During the nine months ended September 30, 2014 , the Company sold residential lots and units for proceeds of $11.9 million which had associated cost of sales of $10.0 million . During the nine months ended September 30, 2015 , the Company, through a consolidated entity for which it has a 90% ownership interest, sold a leasehold interest in a commercial operating property for net proceeds of $93.5 million and simultaneously entered into a ground lease with an initial term of 99 years . In connection with this transaction, the Company recorded a lease incentive asset of $38.1 million , which is included in "Deferred expenses and other assets, net" on the Company's consolidated balance sheets, and deferred a gain of $5.3 million , which is included in "Accounts payable, accrued expenses and other liabilities" on the Company's consolidated balance sheets. During the nine months ended September 30, 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% and contributed land with a carrying value of $9.5 million to newly formed unconsolidated entities (refer to Note 6). The Company also sold its 72% interest in a previously consolidated entity, which owns a net lease asset subject to a non-recourse mortgage of $26.0 million , for net proceeds of $10.1 million that approximated carrying value (refer to Note 6). During the nine months ended September 30, 2014 , the Company sold properties with a carrying value of $6.8 million for proceeds that approximated carrying value and sold a commercial operating property with a carrying value of $29.4 million resulting in a gain of $4.6 million . The gain was recorded as "Income from sales of real estate" in the Company's consolidated statements of operations. During the same period, the Company also 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. Impairments— During the nine months ended September 30, 2015 and September 30, 2014 , the Company recorded impairments on real estate assets totaling $5.6 million and $21.7 million , respectively. The impairment recorded in 2015 resulted from a change in business strategy for two commercial operating properties and unfavorable local market conditions for one residential property. Of the impairment recorded in 2014, $15.4 million resulted from unfavorable local market conditions for two real estate properties, $3.3 million resulted from a change in business strategy for a residential property and $3.0 million resulted from the sale of a net lease asset. 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 were $6.8 million and $20.4 million for the three and nine months ended September 30, 2015 , respectively, and $7.6 million and $23.1 million for the three and nine months ended September 30, 2014 . These amounts are included in "Operating lease income" in the Company's consolidated statements of operations. Redeemable Noncontrolling Interest— As of September 30, 2015 and December 31, 2014 , the Company had a redeemable noncontrolling interest of $7.8 million and $9.9 million , respectively, which is not currently redeemable, for which the Company records changes in the fair value over the redemption periods. As of September 30, 2015 and December 31, 2014 , this interest had an estimated redemption value of $11.1 million and $23.6 million , respectively. Allowance for Doubtful Accounts— As of September 30, 2015 and December 31, 2014 , the allowance for doubtful accounts related to real estate tenant receivables was $2.0 million and $1.3 million , respectively, and the allowance for doubtful accounts related to deferred operating lease income was $2.4 million at both dates. These amounts are included in "Accrued interest and operating lease income receivable, net" and "Deferred operating lease income receivable, net", respectively, on the Company's consolidated balance sheets.

Loans Receivable and Other Lend

Loans Receivable and Other Lending Investments, net	9 Months Ended
Loans Receivable and Other Lending Investments, net	Sep. 30, 2015
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 September 30, December 31, Senior mortgages $ 923,138 $ 737,535 Corporate/Partnership loans 671,738 497,796 Subordinate mortgages 28,633 53,331 Total gross carrying value of loans 1,623,509 1,288,662 Reserves for loan losses (128,558 ) (98,490 ) Total loans receivable, net 1,494,951 1,190,172 Other lending investments—securities 90,448 187,671 Total loans receivable and other lending investments, net (1) $ 1,585,399 $ 1,377,843 _______________________________________________________________________________ (1) The Company's recorded investment in loans as of September 30, 2015 and December 31, 2014 includes accrued interest of $8.9 million and $7.0 million , respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's consolidated balance sheets. In June 2015 , the Company received a loan with a fair value of $146.7 million as a non-cash paydown on an existing loan and reduced the principal balance by the same amount. The loan received has been recorded as a loan receivable and is included in "Loans receivable and other lending investments, net" on the Company’s consolidated balance sheet. During the nine months ended September 30, 2015 , the Company sold a loan with a carrying value of $5.5 million . No gain or loss was recognized as a result of the transaction. During the nine months ended September 30, 2014 , the Company sold loans with an aggregate carrying value of $30.8 million , which resulted in a realized gain of $19.1 million . Gains and losses on sales of loans are included in "Other income" in the Company's consolidated statements of operations. Reserve for Loan Losses —Changes in the Company's reserve for loan losses were as follows ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Reserve for loan losses at beginning of period $ 121,934 $ 137,904 $ 98,490 $ 377,204 Provision for (recovery of) loan losses (1) 7,500 (673 ) 30,944 (6,865 ) Charge-offs (876 ) (17,324 ) (876 ) (250,432 ) Reserve for loan losses at end of period $ 128,558 $ 119,907 $ 128,558 $ 119,907 _______________________________________________________________________________ (1) For the three and nine months ended September 30, 2015 , the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.1 million and $0.6 million , respectively. For the three and nine months ended September 30, 2014 , the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.9 million and $8.5 million , respectively. The Company's recorded investment in loans (comprised of a loan's carrying value plus accrued interest) and the associated reserve for loan losses were as follows ($ in thousands): Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment (2) Total As of September 30, 2015 Loans $ 178,136 $ 1,454,295 $ 1,632,431 Less: Reserve for loan losses (95,520 ) (33,038 ) (128,558 ) Total $ 82,616 $ 1,421,257 $ 1,503,873 As of December 31, 2014 Loans $ 139,672 $ 1,156,031 $ 1,295,703 Less: Reserve for loan losses (64,990 ) (33,500 ) (98,490 ) Total $ 74,682 $ 1,122,531 $ 1,197,213 _______________________________________________________________________________ (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 $0.2 million as of September 30, 2015 and December 31, 2014 , 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 $8.9 million and $10.6 million as of September 30, 2015 and December 31, 2014 , respectively. Credit Characteristics —As part of the Company's process for monitoring the credit quality of its loans, it performs a quarterly loan portfolio assessment and assigns risk ratings to each of its performing loans. Risk ratings, which range from 1 (lower risk) to 5 (higher risk), are based on judgments which are inherently uncertain and there can be no assurance that actual performance will be similar to current expectation. The Company's recorded investment in performing loans, presented by class and by credit quality, as indicated by risk rating, was as follows ($ in thousands): As of September 30, 2015 As of December 31, 2014 Performing Loans Weighted Average Risk Ratings Performing Loans Weighted Average Risk Ratings Senior mortgages $ 798,972 2.94 $ 611,009 2.73 Corporate/Partnership loans 626,332 3.40 501,620 3.88 Subordinate mortgages 28,991 3.64 53,836 2.87 Total $ 1,454,295 3.15 $ 1,166,465 3.23 As of September 30, 2015 , the Company's recorded investment in loans, aged by payment status and presented by class, were as follows ($ in thousands): Current Less Than and Equal to 90 Days Greater Than 90 Days (1) Total Past Due Total Senior mortgages $ 810,706 $ — $ 116,509 $ 116,509 $ 927,215 Corporate/Partnership loans 676,225 — — — 676,225 Subordinate mortgages 28,991 — — — 28,991 Total $ 1,515,922 $ — $ 116,509 $ 116,509 $ 1,632,431 _______________________________________________________________________________ (1) As of September 30, 2015 , the Company had four loans which were greater than 90 days delinquent and were in various stages of resolution, including legal proceedings, environmental concerns and foreclosure-related proceedings, and ranged from 1.0 to 7.0 years outstanding. Impaired Loans —The Company's recorded investment in impaired loans, presented by class, were as follows ($ in thousands) (1) : As of September 30, 2015 As of December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With an allowance recorded: Senior mortgages $ 128,243 $ 127,285 $ (69,627 ) $ 130,645 $ 129,744 $ (64,440 ) Corporate/Partnership loans 49,893 49,893 (25,893 ) 9,027 9,057 (550 ) Total $ 178,136 $ 177,178 $ (95,520 ) $ 139,672 $ 138,801 $ (64,990 ) ____________________________________________________________ (1) All of the Company's non-accrual loans are considered impaired and included in the table above. As of December 31, 2014 , impaired loans also includes certain loans modified through troubled debt restructurings in accordance with GAAP with a recorded investment of $10.4 million although they are performing and on accrual status. The Company did not have impaired loans without related allowances recorded. The Company's average recorded investment in impaired loans and interest income recognized, presented by class, were as follows ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Average Interest Average Interest Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Senior mortgages $ — $ — $ 40,635 $ 1,234 $ — $ — $ 44,574 $ 1,922 With an allowance recorded: Senior mortgages 128,969 4 192,513 18 129,730 38 385,277 140 Corporate/Partnership loans 49,893 — 34,330 40 28,880 12 63,948 157 Subtotal 178,862 4 226,843 58 158,610 50 449,225 297 Total: Senior mortgages 128,969 4 233,148 1,252 129,730 38 429,851 2,062 Corporate/Partnership loans 49,893 — 34,330 40 28,880 12 63,948 157 Total $ 178,862 $ 4 $ 267,478 $ 1,292 $ 158,610 $ 50 $ 493,799 $ 2,219 Troubled Debt Restructurings —During the three and nine months ended September 30, 2015 , the Company modified two loans that were determined to be troubled debt restructurings. The Company restructured one non-performing loan with a recorded investment of $5.8 million to grant a maturity extension of one year. The Company also modified one non-performing loan with a recorded investment of $11.6 million to grant a discounted payoff option and a maturity extension of one year. The Company's recorded investment in these loans was not impacted by the modifications. During the three and nine months ended September 30, 2014, the Company restructured one non-performing loan that was determined to be a troubled debt restructuring with a recorded investment of $7.0 million to grant a maturity extension of one year and included conditional extension options. The Company's recorded investment in this loan was not impacted by the modification. Generally when granting concessions, the Company will seek to protect its position by requiring incremental pay downs, additional collateral or guarantees and in some cases lookback features or equity kickers to offset concessions granted should conditions impacting the loan improve. The Company's determination of credit losses is impacted by troubled debt restructurings whereby loans that have gone through troubled debt restructurings are considered impaired, assessed for specific reserves, and are not included in the Company's assessment of general loan loss reserves. Loans previously restructured under troubled debt restructurings that subsequently default are reassessed to incorporate the Company's current assumptions on expected cash flows and additional provision expense is recorded to the extent necessary. As of September 30, 2015 , there were no unfunded commitments associated with modified loans considered troubled debt restructurings. Securities —Other lending investments—securities includes the following ($ in thousands): Face Value Amortized Cost Basis Net Unrealized Gain (Loss) Estimated Fair Value Net Carrying Value As of September 30, 2015 Available-for-Sale Securities Municipal debt securities $ 1,010 $ 1,010 $ 121 $ 1,131 $ 1,131 Held-to-Maturity Securities Corporate debt securities 83,193 89,317 — 90,253 89,317 Total $ 84,203 $ 90,327 $ 121 $ 91,384 $ 90,448 As of December 31, 2014 Available-for-Sale Securities Municipal debt securities $ 1,020 $ 1,020 $ 147 $ 1,167 $ 1,167 Held-to-Maturity Securities Corporate debt securities 176,254 186,504 — 190,199 186,504 Total $ 177,274 $ 187,524 $ 147 $ 191,366 $ 187,671

Other Investments

Other Investments	9 Months Ended
Other Investments	Sep. 30, 2015
Investments, All Other Investments [Abstract]
Other Investments	Other Investments The Company's other investments and its proportionate share of earnings (losses) from equity method investments were as follows ($ in thousands): Carrying Value as of Equity in Earnings (Losses) September 30, 2015 December 31, 2014 For the Three Months Ended September 30, For the Nine Months 2015 2014 2015 2014 iStar Net Lease I LLC ("Net Lease Venture") $ 68,719 $ 125,361 $ 971 $ 349 $ 4,270 $ 152 Other real estate equity investments (1) 81,437 88,848 (2,906 ) 33,509 (4,545 ) 36,004 Other investments (2)(3) 51,751 63,262 2,159 11,889 6,658 39,863 Madison Funds 38,299 45,971 331 3,982 (115 ) 1,591 Marina Palms, LLC ("Marina Palms") 50,313 30,677 10,017 (151 ) 19,636 (762 ) Total other investments 290,519 354,119 $ 10,572 $ 49,578 $ 25,904 $ 76,848 _______________________________________________________________________________ (1) For the three and nine months ended September 30, 2014 , the Company recognized $32.9 million of earnings from equity method investments resulting from asset sales by one of its equity method investees. (2) For the nine months ended September 30, 2014 , the Company recognized $23.4 million of earnings from equity method investments resulting from asset sales and a legal settlement by one of its equity method investees. (3) In conjunction with the sale of the Company's interests in Oak Hill Advisors, L.P. in 2011, the Company retained a share of the carried interest related to various funds. During the three and nine months ended September 30, 2014 , the Company recognized $9.0 million of carried interest income. Net Lease Venture —In February 2014 , the Company partnered with a sovereign wealth fund to form a new unconsolidated entity in which the Company has a noncontrolling equity interest of approximately 51.9% . This entity is not a VIE and the Company does not have controlling interest due to the substantive participating rights of its partner. 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 officers 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 officers are also entitled to an amount equal to 50% of any promote payment received based on the 47.5% partner's interest. During the nine months ended September 30, 2014 , the Company sold a net lease asset for net proceeds of $93.7 million , which approximated carrying value, to the venture. The Company also sold its 72% interest in a previously consolidated entity, which owns a net lease asset subject to a mortgage of $26.0 million , to the venture for net proceeds of $10.1 million , which approximated carrying value. During the same period, the venture purchased a portfolio of 58 net lease assets for a purchase price of $200.0 million from a third party. As of September 30, 2015 and December 31, 2014 , the venture's carrying value of total assets was $387.2 million and $348.1 million , respectively. In June 2015, the venture placed ten year financing of $120.0 million on one of its net lease assets. Net proceeds from the financing were distributed to its members of which the Company received approximately $61.2 million . Marina Palms —As of September 30, 2015 , the Company owned a 47.5% equity interest and a $10.0 million preferred partnership interest in Marina Palms, a residential condominium development. As of September 30, 2015 and December 31, 2014 , the venture's carrying value of total assets was $376.0 million and $265.7 million , respectively. Other real estate equity investments —During the nine months ended September 30, 2015 , the Company sold a commercial operating property for $68.5 million to a newly formed unconsolidated entity in which the Company owns a 50.0% equity interest (refer to Note 4). The venture placed financing on the property and proceeds from the financing were distributed to its members. Net proceeds received by the Company were $55.4 million , which was net of the Company's $13.6 million non-cash equity contribution to the venture and inclusive of a $21.0 million distribution from the financing proceeds. This entity is not a VIE and the Company does not have a controlling interest due to shared control of the entity with its partner. During the nine months ended September 30, 2014 , the Company contributed land to a newly formed unconsolidated entity in which the Company received an initial equity interest of 85.7% . This entity is a VIE and the Company does not have controlling interest due to shared control of the entity with its partner. As of September 30, 2015 and December 31, 2014 , the venture's carrying value of total assets was $7.4 million and $9.4 million , respectively. Additionally, the Company committed to provide $45.7 million of mezzanine financing to the entity. As of September 30, 2015 , the loan balance was $32.3 million and was included in "Loans receivable and other lending investments, net" on the Company's consolidated balance sheets. As of September 30, 2015 , the Company's other real estate equity investments included equity interests in real estate ventures ranging from 16% to 76% , comprised of investments of $11.3 million in operating properties and $62.6 million in land assets. As of December 31, 2014 , the Company's real estate equity investments included $13.2 million in operating properties and $66.1 million in land assets. Madison Funds —As of September 30, 2015 , the Company owned a 29.5% interest in Madison International Real Estate Fund II, LP, a 32.9% interest in Madison International Real Estate Liquidity Fund III, LP, a 32.9% interest in Madison International Real Estate Liquidity Fund III AIV, LP and a 29.5% 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 VIEs and that the Company is not the primary beneficiary. Other investments —As of September 30, 2015 , 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. During the nine months ended September 30, 2015 , the Company sold available-for-sale securities for proceeds of $7.3 million for realized gains of $2.5 million , which are included in "Other income" in the Company's consolidated statements of operations. The amount reclassified out of accumulated other comprehensive income into earnings was determined based on the specific identification method. Summarized investee financial information —The following table presents the investee level summarized financial information of the Company's equity method investments, which were significant subsidiaries for the nine months ended September 30, 2015 ($ in thousands): Revenues Expenses Net Income Attributable to Parent Entities For the Nine Months Ended September 30, 2015 Marina Palms $ 142,419 $ (88,661 ) $ 53,758 For the Nine Months Ended September 30, 2014 Marina Palms $ 86 $ (1,694 ) $ (1,608 )

Other Assets and Other Liabilit

Other Assets and Other Liabilities	9 Months Ended
Other Assets and Other Liabilities	Sep. 30, 2015
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 September 30, 2015 December 31, 2014 Intangible assets, net (1) $ 73,588 $ 50,088 Other assets 30,163 37,085 Deferred financing fees, net (2) 29,834 36,774 Restricted cash 28,125 19,283 Other receivables 24,146 13,115 Leasing costs, net (3) 18,920 20,031 Corporate furniture, fixtures and equipment, net (4) 4,621 5,409 Deferred expenses and other assets, net $ 209,397 $ 181,785 _______________________________________________________________________________ (1) Intangible assets, net are primarily related to the acquisition of real estate assets. This balance also includes a lease incentive asset of $38.1 million (refer to Note 4 ). Accumulated amortization on intangible assets was $35.5 million and $45.1 million as of September 30, 2015 and December 31, 2014 , respectively. The amortization of above market leases and lease incentive assets decreased operating lease income in the Company's consolidated statements of operations by $1.8 million and $5.5 million for the three and nine months ended September 30, 2015 , respectively, and $1.6 million and $5.6 million for the three and nine months ended September 30, 2014 , respectively. These intangible lease assets are amortized over the term of the lease. The amortization expense for other intangible assets was $0.9 million and $3.0 million for the three and nine months ended September 30, 2015 , respectively, and $1.1 million and $4.9 million for the three and nine months ended September 30, 2014 , respectively. These amounts are included in "Depreciation and amortization" in the Company's consolidated statements of operations. (2) Accumulated amortization on deferred financing fees was $24.6 million and $15.4 million as of September 30, 2015 and December 31, 2014 , respectively. (3) Accumulated amortization on leasing costs was $9.8 million and $9.0 million as of September 30, 2015 and December 31, 2014 , respectively. (4) Accumulated depreciation on corporate furniture, fixtures and equipment was $7.8 million and $7.1 million as of September 30, 2015 and December 31, 2014 , respectively. Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands): As of September 30, 2015 December 31, 2014 Other liabilities (1) $ 76,770 $ 48,256 Accrued expenses 60,017 62,866 Accrued interest payable 42,457 57,895 Intangible liabilities, net (2) 10,785 11,885 Accounts payable, accrued expenses and other liabilities $ 190,029 $ 180,902 _______________________________________________________________________________ (1) As of September 30, 2015 and December 31, 2014 , "Other liabilities" includes $13.6 million and $6.8 million , respectively, related to a profit sharing payable to a developer for residential units sold. As of September 30, 2015 and December 31, 2014 , "Other liabilities" also includes $6.9 million and $7.7 million , respectively, related to tax increment financing bonds which were issued by a governmental entity to fund the installation of infrastructure within one of the Company's master planned community developments. The balance represents a special assessment associated with each individual land parcel, which will decrease as the Company sells parcels. As of September 30, 2015, includes $1.3 million related to treasury share repurchases that settled in October 2015. (2) Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $6.3 million and $6.2 million as of September 30, 2015 and December 31, 2014 , respectively. The amortization of intangible liabilities increased operating lease income in the Company's consolidated statements of operations by $0.5 million and $1.2 million for the three and nine months ended September 30, 2015 , respectively, and $0.5 million and $2.1 million for the three and nine months ended September 30, 2014 , respectively. Deferred tax assets and liabilities of the Company's TRS entities were as follows ($ in thousands): As of September 30, 2015 December 31, 2014 Deferred tax assets (1) $ 64,165 $ 54,318 Valuation allowance (64,165 ) (54,318 ) Net deferred tax assets (liabilities) $ — $ — _______________________________________________________________________________ (1) Deferred tax assets as of September 30, 2015 include timing differences related primarily to asset basis of $41.7 million , deferred expenses and other items of $18.9 million and net operating loss ("NOL") carryforwards of $3.6 million . Deferred tax assets as of December 31, 2014 , include timing differences related primarily to asset basis of $45.2 million , NOL carryforwards of $4.1 million and deferred expenses and other items of $5.0 million .

Loan Participations Payable, ne

Loan Participations Payable, net (Notes)	9 Months Ended
Loan Participations Payable, net (Notes)	Sep. 30, 2015
Loan Participations Payable [Abstract]
Loan Participations Payable, net	Loan Participations Payable, net During the nine months ended September 30, 2015 , the Company transferred to a third party a $100.0 million junior loan participation in a $250.0 million mezzanine loan commitment that it had previously originated. The Company had funded $38.9 million of the junior loan prior to transfer and received proceeds of $38.9 million upon transfer. The transferee is responsible for funding the remaining $61.1 million under the junior loan commitment, which bears interest at a rate of 5.90% . The Company will fund these commitments if the transferee defaults. For the nine months ended September 30, 2015 , the transferee funded an additional $10.0 million directly to the borrower. During the nine months ended September 30, 2015 , the Company transferred to a third party a $100.0 million senior loan participation in a $220.2 million senior loan commitment that it had previously originated. The transferred participation bears interest at a rate of LIBOR+ 3.50% with a LIBOR floor of 0.25% . The Company had fully funded the $100.0 million transferred participation prior to transfer and received net proceeds of $99.2 million . These transfers of financial assets did not meet the sales criteria established under ASC Topic 860 and have been accounted for as loan participations payable as of September 30, 2015 , with a balance of $148.2 million , net of a discount. As of September 30, 2015 , the corresponding loan receivable balances were $148.9 million and are included in "Loans receivable and other lending investments, net" on the Company's consolidated balance sheets. The principal and interest due on these participations are paid from cash flows of the corresponding loans receivable, which serve as collateral for the participations.

Debt Obligations, net

Debt Obligations, net	9 Months Ended
Debt Obligations, net	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Obligations, net	Debt Obligations, net As of September 30, 2015 and December 31, 2014 , the Company's debt obligations were as follows ($ in thousands): Carrying Value as of Stated Interest Rates Scheduled Maturity Date September 30, 2015 December 31, 2014 Secured credit facilities and term loans: 2012 Tranche A-2 Facility $ 339,860 $ 358,504 LIBOR + 5.75% (1) March 2017 2015 Revolving Credit Facility 250,000 — Various (2) March 2018 Term loans collateralized by net lease assets 241,740 248,955 4.851% - 7.26% (3) Various through 2026 Total secured credit facilities and term loans 831,600 607,459 Unsecured notes: 6.05% senior notes — 105,765 6.05 % — 5.875% senior notes 261,403 261,403 5.875 % March 2016 3.875% senior notes 265,000 265,000 3.875 % July 2016 3.00% senior convertible notes (4) 200,000 200,000 3.00 % November 2016 1.50% senior convertible notes (5) 200,000 200,000 1.50 % November 2016 5.85% senior notes 99,722 99,722 5.85 % March 2017 9.00% senior notes 275,000 275,000 9.00 % June 2017 4.00% senior notes 550,000 550,000 4.00 % November 2017 7.125% senior notes 300,000 300,000 7.125 % February 2018 4.875% senior notes 300,000 300,000 4.875 % July 2018 5.00% senior notes 770,000 770,000 5.00 % July 2019 Total unsecured notes 3,221,125 3,326,890 Other debt obligations: Other debt obligations 100,000 100,000 LIBOR + 1.50% October 2035 Total debt obligations 4,152,725 4,034,349 Debt discounts, net (7,908 ) (11,665 ) Total debt obligations, net (6) $ 4,144,817 $ 4,022,684 _______________________________________________________________________________ (1) The loan has a LIBOR floor of 1.25% . As of September 30, 2015 , inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00% . (2) The loan bears interest at the Company's election of either (i) a base rate, which is the greater of (a) prime, (b) federal funds plus 0.5% or (c) LIBOR plus 1.00% and subject to a margin ranging from 1.25% to 1.75% , or (ii) LIBOR subject to a margin ranging from 2.25% to 2.75% . At maturity, the Company may convert outstanding borrowings to a one year term loan which matures in quarterly installments through March 2019. (3) As of September 30, 2015 and December 31, 2014 , includes a loan with a floating rate of LIBOR plus 2.00% . As of September 30, 2015 , the weighted average interest rate of these loans is 5.3% . (4) The Company's 3.00% senior convertible fixed rate notes due November 2016 (" 3.00% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.00% Convertible Notes, at $11.77 per share 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 $17.29 per share at any time prior to the close of business on November 14, 2016. (6) The Company capitalized interest relating to development activities of $1.3 million and $4.0 million for the three and nine months ended September 30, 2015 and $1.4 million and $3.3 million for the three and nine months ended September 30, 2014 . Future Scheduled Maturities —As of September 30, 2015 , future scheduled maturities of outstanding debt obligations are as follows ($ in thousands): Unsecured Debt Secured Debt Total 2015 (remaining three months) $ — $ — $ — 2016 926,403 — 926,403 2017 924,722 339,860 1,264,582 2018 600,000 263,790 863,790 2019 770,000 31,183 801,183 Thereafter 100,000 196,767 296,767 Total principal maturities 3,321,125 831,600 4,152,725 Unamortized discounts, net (6,251 ) (1,657 ) (7,908 ) Total debt obligations, net $ 3,314,874 $ 829,943 $ 4,144,817 2015 Revolving Credit Facility —On March 27, 2015, the Company entered into a secured revolving credit facility with a maximum capacity of $250.0 million (the "2015 Revolving Credit Facility"). Borrowings under this credit facility bear interest at a floating rate indexed to one of several base rates plus a margin which adjusts upward or downward based upon the Company's corporate credit rating. An undrawn credit facility commitment fee ranges from 0.375% to 0.5% , based on average utilization each quarter. During the three months ended September 30, 2015 , the weighted average cost of the credit facility was 3.17% . Commitments under the revolving facility mature in March 2018. At maturity, the Company may convert outstanding borrowings to a one year term loan which matures in quarterly installments through March 2019. 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 "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 2012 Secured Credit Facilities, together with cash on hand, were used to repurchase and repay other outstanding debt. The 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 2012 Secured Credit Facilities. Proceeds received for interest, rent, lease payments and fee income are retained by the Company. The Company may also make optional prepayments, subject to prepayment fees. The 2012 Tranche A-1 Facility was fully repaid in August 2013. Additionally, through September 30, 2015 , the Company made cumulative amortization repayments of $130.1 million on the 2012 Tranche A-2 Facility. For the three and nine months ended September 30, 2015 , repayments of the 2012 Tranche A-2 Facility prior to maturity resulted in losses on early extinguishment of debt of $0.1 million and $0.3 million , respectively, related to the accelerated amortization of discounts and unamortized deferred financing fees on the portion of the facility that was repaid. For the three and nine months ended September 30, 2014 , repayments of the 2012 Tranche A-2 Facility prior to maturity resulted in losses on early extinguishment of debt of $0.2 million and $1.0 million . These amounts are included in "Loss on early extinguishment of debt, net" in the Company's consolidated statements of operations. Unsecured Notes —In June 2014, the Company issued $550.0 million aggregate principal amount of 4.00% senior unsecured notes due November 2017 and $770.0 million aggregate principal amount of 5.00% senior unsecured notes due July 2019. Net proceeds from these transactions, together with cash on hand, were used to fully repay and terminate the February 2013 secured credit facility which had an outstanding balance of $1.32 billion . In connection with the repayment and termination of the February 2013 secured credit facility, for the nine months ended September 30, 2014 the Company recorded a loss on early extinguishment of debt of $22.8 million related to unamortized discounts and financing fees at the time of refinancing. This amount is included in "Loss on early extinguishment of debt, net" in the Company's consolidated statements of operations. Encumbered/Unencumbered Assets —As of September 30, 2015 and December 31, 2014 , the carrying value of the Company's encumbered and unencumbered assets by asset type are as follows ($ in thousands): As of September 30, 2015 December 31, 2014 Encumbered Assets Unencumbered Assets Encumbered Assets Unencumbered Assets Real estate, net $ 870,397 $ 1,620,141 $ 620,378 $ 2,056,336 Real estate available and held for sale 17,078 279,513 10,496 275,486 Loans receivable and other lending investments, net (1)(2) 91,997 1,377,514 46,515 1,364,828 Other investments 19,593 270,926 17,708 336,411 Cash and other assets — 979,748 — 768,475 Total $ 999,065 $ 4,527,842 $ 695,097 $ 4,801,536 _______________________________________________________________________________ (1) As of September 30, 2015 and December 31, 2014 , the amounts presented exclude general reserves for loan losses of $33.0 million and $33.5 million , respectively. (2) As of September 30, 2015 , the amount presented excludes loan participations of $148.9 million . 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 1.2 x and a covenant not to incur new indebtedness, if on a pro forma basis, the Company's fixed charge coverage ratio is 1.5 x or lower, except for incurrences of permitted debt. 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. The Company's 2012 Secured Credit Facilities and the 2015 Revolving Credit Facility 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 2012 Secured Credit Facilities require the Company to maintain collateral coverage of at least 1.25 x outstanding borrowings on the facilities. The 2015 Revolving Credit Facility is secured by a borrowing base of assets and requires the Company to maintain both collateral coverage of at least 1.5 x outstanding borrowings on the facility and a consolidated ratio of cash flow to fixed charges of at least 1.5 x. The 2015 Revolving Credit Facility does not require that proceeds from the borrowing base be used to pay down outstanding borrowings provided the collateral coverage remains at least 1.5x outstanding borrowings on the facility. To satisfy this covenant, the Company has the option to pay down outstanding borrowings or substitute assets in the borrowing base. In addition, for so long as the Company maintains its qualification as a REIT, the 2012 Secured Credit Facilities and the 2015 Revolving Credit Facility permit the Company to distribute 100% of its REIT taxable income on an annual basis (prior to deducting certain cumulative NOL carryforwards in the case of the 2015 Revolving Credit Facility). The Company may not pay common dividends if it ceases to qualify as a REIT. The Company's 2012 Secured Credit Facilities and the 2015 Revolving Credit Facility 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	9 Months Ended
Commitments and Contingencies	Sep. 30, 2015
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 September 30, 2015 , 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 Other Investments Total Performance-Based Commitments $ 620,370 $ 18,586 $ 60,816 $ 699,772 Strategic Investments — — 45,890 45,890 Discretionary Fundings 5,000 — — 5,000 Total $ 625,370 $ 18,586 $ 106,706 $ 750,662 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 proceedings: 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 its current and former senior executives (including its chief executive officer) and current and former directors as defendants. The complaint sought unspecified damages and other relief and alleged breach of fiduciary duty, breach of contract and other causes of action arising out of shares of common stock issued by the Company to its senior executives pursuant to restricted stock unit awards granted in December 2008 and modified in July 2011. On October 30, 2014, the Court granted the defendants’ Motions to Dismiss and plaintiffs’ claims against all of the defendants in this action were dismissed. Plaintiffs have filed a notice of appeal. Appellate briefs have been submitted and oral argument has been scheduled for December 2015. On January 22, 2015, the United States District Court for the District of Maryland (the "Court") entered a judgment in favor of the Company in the matter of U.S. Home Corporation ("Lennar") v. Settlers Crossing, LLC, et al. (Civil Action No. DKC 08-1863). The litigation involved a dispute over the purchase and sale of approximately 1,250 acres of land in Prince George’s County, Maryland. The Court found that the Company was entitled to specific performance and awarded damages to it in the aggregate amount of: (i) the remaining purchase price to be paid by Lennar of $114.0 million ; plus (ii) interest on the unpaid amount at a rate of 12% per annum, calculated on a per diem basis, from May 27, 2008, until Lennar proceeds to settlement on the land; plus (iii) real estate taxes paid by the Company; plus (iv) actual and reasonable attorneys' fees and costs incurred by the Company in connection with the litigation. The Court ordered Lennar to proceed to settlement on the land and to pay the total amounts awarded to the Company within 30 days of the judgment. A third party is entitled to a 15% participation interest in all proceeds. Lennar has appealed the Court's judgment. The Court has granted Lennar's motion to stay the judgment pending appeal, subject to Lennar posting a required appeal bond, which has been posted. The Court also clarified the judgment that the unpaid amount will accrue simple interest at a rate of 12% annually, including while the appeal is pending. The Court of Appeals has entered a briefing schedule for the appeal and oral argument has not yet been scheduled. There can be no assurance as to the timing or actual receipt by the Company of amounts awarded by the Court or the outcome of any appeal. On a quarterly basis, the Company evaluates 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	9 Months Ended
Derivatives	Sep. 30, 2015
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 September 30, 2015 and December 31, 2014 ($ in thousands): Derivative Assets as of Derivative Liabilities as of September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives Designated in Hedging Relationships Foreign exchange contracts Other Assets $ 98 N/A $ — N/A $ — Other Liabilities $ 478 Interest rate swaps N/A — Other Assets 52 Other Liabilities 426 N/A — Total $ 98 $ 52 $ 426 $ 478 Derivatives not Designated in Hedging Relationships Foreign exchange contracts Other Assets $ 633 Other Assets $ 1,534 Other Liabilities $ 36 N/A $ — Interest rate cap Other Assets 1,024 Other Assets 4,775 N/A — N/A — Total $ 1,657 $ 6,309 $ 36 $ — The tables below present the effect of the Company's derivative financial instruments in the consolidated statements of operations and the consolidated statements of comprehensive income (loss) for the three and nine months ended September 30, 2015 and 2014 ($ in thousands): Derivatives Designated in Hedging Relationships Location of Gain (Loss) Recognized in Income 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) Reclassified from Accumulated Other Comprehensive Income into Earnings (Ineffective Portion) For the Three Months Ended September 30, 2015 Interest rate cap Interest Expense $ — $ (176 ) N/A Interest rate cap Earnings from equity method investments (2 ) — N/A Interest rate swaps Interest Expense (461 ) 43 N/A Interest rate swap Earnings from equity method investments (421 ) (117 ) N/A Foreign exchange contracts Earnings from equity method investments 119 — N/A For the Three Months Ended September 30, 2014 Interest rate cap Interest Expense — 15 N/A Interest rate swap Interest Expense 322 (47 ) N/A Foreign exchange contracts Other Expense 89 — N/A For the Nine Months Ended September 30, 2015 Interest rate cap Interest Expense — (378 ) N/A Interest rate cap Earnings from equity method investments (12 ) — N/A Interest rate swaps Interest Expense (745 ) 127 N/A Interest rate swaps Earnings from equity method investments (744 ) (349 ) N/A Foreign exchange contracts Earnings from equity method investments (65 ) — N/A For the Nine Months Ended September 30, 2014 Interest rate cap Interest Expense — 15 N/A Interest rate cap Other Expense (2,984 ) — (3,634 ) Interest rate swap Interest Expense (719 ) 49 N/A Foreign exchange contracts Other Expense (490 ) — N/A Amount of Gain (Loss) Recognized in Income Location of Gain (Loss) Recognized in Income For the Three Months Ended September 30, For the Nine Months Derivatives not Designated in Hedging Relationships 2015 2014 2015 2014 Interest rate cap Other Expense $ (1,180 ) $ 728 $ (3,751 ) $ 224 Foreign exchange contracts Other Expense 691 5,141 2,278 5,888 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 foreign entity is either sold or substantially liquidated. As of September 30, 2015 , the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were designated ($ and Rs in thousands): Derivative Type Notional Amount Notional (USD Equivalent) Maturity Sells Indian rupee ("INR")/Buys USD Forward ₨ 456,000 $ 6,553 December 2016 For derivatives not designated as net investment hedges, the changes in the fair value of the derivatives are reported in the Company's consolidated statements of operations within "Other Expense." As of September 30, 2015 , the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were not designated ($, €, £ and C$ in thousands): Derivative Type Notional Amount Notional (USD Equivalent) Maturity Sells euro ("EUR")/Buys USD Forward € 5,700 $ 6,333 October 2015 Sells pound sterling ("GBP")/Buys USD Forward £ 3,000 $ 4,685 October 2015 Sells Canadian dollar ("CAD")/Buys USD Forward C$ 10,500 $ 8,353 October 2015 The Company marks its foreign investments each quarter based on current exchange rates and records the gain or loss through "Other expense" in 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. The Company recorded net gains (losses) related to foreign investments of $(0.1) million and $(0.1) million during the three and nine months ended September 30, 2015 , respectively, and $0.1 million and $0.4 million during the three and nine months ended September 30, 2014 , respectively, in its consolidated statements of operations. Interest Rate Hedges —For derivatives designated as interest rate hedges, the effective portion of changes in the fair value of the derivatives are reported in Accumulated Other Comprehensive Income (Loss). The ineffective portion of the change in fair value of the derivatives is recognized directly in the Company's consolidated statements of operations. As of September 30, 2015 , the Company had the following outstanding interest rate swap that was used to hedge its variable rate debt that was designated ($ in thousands): Derivative Type Notional Amount Variable Rate Fixed Rate Effective Date Maturity Interest rate swap $ 27,068 LIBOR + 2.00% 3.47% October 2012 November 2019 For derivatives not designated as interest rate hedges, the changes in the fair value of the derivatives are reported in the Company's consolidated statements of operations within "Other Expense." As of September 30, 2015 , the Company had the following outstanding interest rate cap that was used to hedge its variable rate debt that was not designated ($ in thousands): Derivative Type Notional Amount Variable Rate Fixed Rate Effective Date Maturity Interest rate cap $ 500,000 LIBOR 1.00% July 2014 July 2017 Over the next 12 months , the Company expects that $0.1 million related to terminated cash flow hedges will be reclassified from "Accumulated other comprehensive income (loss)" into interest expense and $0.7 million relating to other cash flow hedges will be reclassified 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. The Company reports derivative instruments on a gross basis on the consolidated financial statements. In connection with its foreign currency derivatives which were in a liability position as of September 30, 2015 , the Company has posted collateral of $1.4 million and $3.0 million , respectively, as of September 30, 2015 and December 31, 2014 , which is included in "Deferred expenses and other assets, net" on the Company's consolidated balance sheets. The Company's net exposure under these contracts was zero as of September 30, 2015 .

Equity

Equity	9 Months Ended
Equity	Sep. 30, 2015
Equity [Abstract]
Equity	Equity Preferred Stock —The Company had the following series of Cumulative Redeemable and Convertible Perpetual Preferred Stock outstanding as of September 30, 2015 and December 31, 2014 : Cumulative Preferential Cash Dividends (1)(2) Series Shares Issued and Outstanding (in thousands) Par Value Liquidation Preference Rate per Annum Equivalent to Fixed Annual Rate (per share) D 4,000 $ 0.001 $ 25.00 8.00 % $ 2.00 E 5,600 0.001 25.00 7.875 % 1.97 F 4,000 0.001 25.00 7.80 % 1.95 G 3,200 0.001 25.00 7.65 % 1.91 I 5,000 0.001 25.00 7.50 % 1.88 J 4,000 0.001 50.00 4.50 % 2.25 25,800 _______________________________________________________________________________ (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 Company's 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 Company's Board of Directors 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 $6.0 million , $8.3 million , $5.9 million , $4.6 million and $7.0 million on its Series D, E, F, G and I Cumulative Redeemable Preferred Stock during the nine months ended September 30, 2015 and 2014 . The Company declared and paid dividends of $6.8 million on its Series J Convertible Perpetual Preferred Stock during the nine months ended September 30, 2015 and 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. Dividends —In order to maintain its qualification 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 NOLs and may record NOLs 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 December 31, 2014, the Company had $856.4 million of NOL carryforwards 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 2034 if unused. 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 2012 Tranche A-2 Facility and 2015 Revolving Credit Facility permit the Company to distribute 100% of its REIT taxable income on an annual basis (prior to deducting certain cumulative NOL carryforwards in the case of the 2015 Revolving Credit Facility), for so long as the Company maintains its qualification as a REIT. The 2012 Tranche A-2 Facility and 2015 Revolving Credit Facility 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 nine months ended September 30, 2015 and 2014 . Stock Repurchase Program —During the nine months ended September 30, 2015 , the Company repurchased 1,667,209 shares of its outstanding common stock for $20.3 million , at an average cost of $12.16 per share. In September 2015, the Company's Board of Directors approved an increase in the repurchase limit under the Company's previously approved stock repurchase program to $50.0 million . The program authorizes the repurchase of common stock from time to time in open market and privately negotiated purchases, including pursuant to one or more trading plans. As of September 30, 2015 , the Company had remaining authorization to repurchase up to $48.7 million of common stock under its stock repurchase program. HPU Repurchase —In August 2015, the Company repurchased and retired all of its 14,888 HPUs outstanding, representing approximately 2.8 million common stock equivalents. The Company repurchased these HPUs at fair value from current and former employees through an arms-length tender offer. HPU holders could elect to receive $9.30 in cash or 0.7 shares of iStar common stock, or a combination thereof, per common stock equivalent underlying the HPUs. Approximately 37% of the outstanding HPUs were exchanged for $9.8 million in cash and approximately 63% of the outstanding HPUs were exchanged for 1.2 million shares of iStar common stock with a fair value of $15.2 million , representing the number of shares issued at the closing price of the Company's common stock on August 13, 2015. The transaction value in excess of the HPUs carrying value of $9.8 million was recorded as a reduction to retained earnings in the Company's consolidated statements of changes in equity. Accumulated Other Comprehensive Income (Loss) —"Accumulated other comprehensive income (loss)" reflected in the Company's shareholders' equity is comprised of the following ($ in thousands): As of September 30, 2015 December 31, 2014 Unrealized gains (losses) on available-for-sale securities $ (155 ) $ 2,983 Unrealized gains (losses) on cash flow hedges (1,375 ) (409 ) Unrealized losses on cumulative translation adjustment (3,783 ) (3,545 ) Accumulated other comprehensive income (loss) $ (5,313 ) $ (971 )

Stock-Based Compensation Plans

Stock-Based Compensation Plans and Employee Benefits	9 Months Ended
Stock-Based Compensation Plans and Employee Benefits	Sep. 30, 2015
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 for Performance Incentive Plans, Long-Term Incentive Plans and Directors' Awards of $2.9 million and $10.1 million for the three and nine months ended September 30, 2015 , respectively, and $3.3 million and $8.5 million for the three and nine months ended September 30, 2014 , respectively, in "General and administrative" in the Company's consolidated statements of operations. As of September 30, 2015 , there was $2.4 million of total unrecognized compensation cost related to all unvested restricted stock units ("Units") that are expected to be recognized over a weighted average remaining vesting/service period of 1.09 years. As of September 30, 2015 , approximately $16.1 million of stock-based compensation was included in "Accounts payable, accrued expenses and other liabilities" on the Company's consolidated balance sheets. As of September 30, 2015 , an aggregate of 3.7 million shares remain available for issuance pursuant to future awards under the Company's 2006 and 2009 Long-Term Incentive Plans. Performance Incentive Plans —The Company's Performance Incentive Plan ("iPIP") is designed to provide, primarily to senior executives and select professionals engaged in the Company's investment activities, long-term compensation which has a direct relationship to the realized returns on investments included in the plan. In May 2014 , the Company granted 73 iPIP points for the initial 2013-2014 investment pool and in February 2015 , the Company granted an additional 10 points for the 2013-2014 investment pool and 34 iPIP points for the 2015-2016 investment pool. The fair value of points are determined using a model that forecasts the Company's projected investment performance. iPIP is a liability-classified award which will be remeasured each reporting period at fair value until the awards are settled. Long-Term Incentive Plans —During the nine months ended September 30, 2015 , the Company granted 318,482 shares of common stock to certain employees as part of annual incentive awards that included a mix of cash and equity awards. The shares are fully-vested and 189,241 shares 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. During the nine months ended September 30, 2015 , the Company granted new stock-based compensation awards to certain employees in the form of long-term incentive awards, comprised of the following: • 4,751 service-based Units were granted on various dates to certain employees, representing the right to receive an equivalent number of shares of the Company's 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 the third anniversary of the grant date of the award, if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue as and when dividends are declared by the Company on shares of its common stock, but will not be paid unless and until the Units vest and are settled. As of September 30, 2015 , 4,751 of such service-based Units were outstanding. • 64,196 service-based Units were granted on January 30, 2015, representing the right to receive an equivalent number of shares of the Company's 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 December 31, 2017, if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue as and when dividends are declared by the Company on shares of its common stock, but will not be paid unless and until the Units vest and are settled. As of September 30, 2015 , 61,557 of such service-based Units were outstanding. • 49,650 target amount of performance-based Units were granted on January 30, 2015, representing the right to receive an equivalent number of shares of the Company's common stock (after deducting shares for minimum required statutory withholdings) if and when the Units vest. The performance is based on the Company's total shareholder return ("TSR"), measured over a performance period ending on December 31, 2017, which is the date the awards cliff vest. 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) during the performance period. The Company, as well as any companies not included in each 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 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 as and when dividends are declared by the Company on shares of its common stock, 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 0.75% for risk-free interest rate and 28.14% for expected stock price volatility. As of September 30, 2015 , 48,519 of such performance-based Units were outstanding. As of September 30, 2015 , the Company had the following additional stock-based compensation awards outstanding: • 62,662 service-based Units, granted on January 10, 2014, representing the right to receive an equivalent number of shares of the Company's 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 December 31, 2016, if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue as and when dividends are declared by the Company on shares of its common stock, but will not be paid unless and until the Units vest and are settled. • 49,434 target amount of performance-based Units, granted on January 10, 2014, representing the right to receive an equivalent number of shares of the Company's common stock (after deducting shares for minimum required statutory withholdings) if and when the Units vest based on the Company’s TSR measured over a performance period ending on December 31, 2016, which is the date the awards cliff vest. The other terms of these performance-based Units are identical to the terms described above for the performance-based Units granted in 2015. 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. • 194,526 service-based Units, granted on February 1, 2013, representing the right to receive an equivalent number of shares of the Company's 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, if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue as and when dividends are declared by the Company on shares of its common stock, but will not be paid unless and until the Units vest and are settled. • 10,666 service-based Units granted on various dates, representing the right to receive an equivalent number of shares of the Company's common stock (after deducting shares for minimum required statutory withholdings) if and when the Units vest. The Units have 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. Dividends will accrue as and when dividends are declared by the Company on shares of its common stock, but will not be paid unless and until the Units vest and are settled. Directors' Awards —During the nine months ended September 30, 2015 , the Company awarded to non-employee Directors a combined 50,360 common stock equivalents ("CSEs") and restricted shares at a fair value per share of $14.40 at the time of grant. These CSEs and restricted shares have a one year vesting period and pay dividends, if any, in an amount equal to the dividends paid on the equivalent number of shares of the Company's common stock from the date of grant, as and when dividends are paid on common stock. As of September 30, 2015 , a combined total of 289,261 CSEs and restricted shares of common stock granted to members of the Company's Board of Directors remained outstanding under the Company's Non-Employee Directors Deferral Plan, with an aggregate intrinsic value of $3.6 million . 401(k) Plan —The Company made gross contributions of $0.1 million and $1.0 million for the three and nine months ended September 30, 2015 , respectively, and $0.1 million and $0.8 million for the three and nine months ended September 30, 2014 , respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	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 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 EPS calculations ($ in thousands, except for per share data): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Income (loss) from continuing operations $ (20,553 ) $ 7,700 $ (92,152 ) $ (43,745 ) Income from sales of real estate 26,511 27,791 66,021 61,465 Net (income) loss attributable to noncontrolling interests 706 412 3,176 (367 ) Preferred dividends (12,830 ) (12,830 ) (38,490 ) (38,490 ) Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders, HPU holders and Participating Security Holders for basic earnings per common share (1) $ (6,166 ) $ 23,073 $ (61,445 ) $ (21,137 ) Add: Effect of 1.50% senior convertible unsecured notes (2) — 1,124 — — Add: Effect of 3.00% senior convertible unsecured notes (2) — 1,765 — — Add: Effect of Series J convertible perpetual preferred stock — 2,250 — — Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders, HPU holders and Participating Security Holders for diluted earnings per common share (1) $ (6,166 ) $ 28,212 $ (61,445 ) $ (21,137 ) _______________________________________________________________________________ (1) For the three months ended September 30, 2014, includes income from continuing operations allocable to Participating Security Holders of $2 on a basic and dilutive basis. (2) For the three months ended September 30, 2014, includes interest expense, amortization of fees, and other changes in income or loss that would result from the assumed conversion. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Earnings allocable to common shares: Numerator for basic earnings per share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders $ (6,072 ) $ 22,327 $ (59,818 ) $ (20,454 ) Net income (loss) attributable to iStar Inc. and allocable to common shareholders $ (6,072 ) $ 22,327 $ (59,818 ) $ (20,454 ) Numerator for diluted earnings per share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders $ (6,072 ) $ 27,608 $ (59,818 ) $ (20,454 ) Net income (loss) attributable to iStar Inc. and allocable to common shareholders $ (6,072 ) $ 27,608 $ (59,818 ) $ (20,454 ) Denominator for basic and diluted earnings per share: Weighted average common shares outstanding for basic earnings per common share 85,766 85,163 85,602 84,967 Add: Effect of assumed shares issued under treasury stock method for restricted shares — 505 — — Add: Effect of joint venture shares — 298 — — Add: Effect of 1.50% senior convertible unsecured notes — 11,567 — — Add: Effect of 3.00% senior convertible unsecured notes — 16,992 — — Add: Effect of series J convertible perpetual preferred stock — 15,635 — — Weighted average common shares outstanding for diluted earnings per common share 85,766 130,160 85,602 84,967 Basic earnings per common share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders $ (0.07 ) $ 0.26 $ (0.70 ) $ (0.24 ) Net income (loss) attributable to iStar Inc. and allocable to common shareholders $ (0.07 ) $ 0.26 $ (0.70 ) $ (0.24 ) Diluted earnings per common share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders $ (0.07 ) $ 0.21 $ (0.70 ) $ (0.24 ) Net income (loss) attributable to iStar Inc. and allocable to common shareholders $ (0.07 ) $ 0.21 $ (0.70 ) $ (0.24 ) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Earnings allocable to High Performance Units (1) : Numerator for basic earnings per HPU share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders $ (94 ) $ 744 $ (1,627 ) $ (683 ) Net income (loss) attributable to iStar Inc. and allocable to HPU holders $ (94 ) $ 744 $ (1,627 ) $ (683 ) Numerator for diluted earnings per HPU share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders $ (94 ) $ 602 $ (1,627 ) $ (683 ) Net income (loss) attributable to iStar Inc. and allocable to HPU holders $ (94 ) $ 602 $ (1,627 ) $ (683 ) Denominator for basic and diluted earnings per HPU share: Weighted average High Performance Units outstanding for basic and diluted earnings per share 7 15 12 15 Basic earnings per HPU share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders $ (13.41 ) $ 49.60 $ (132.19 ) $ (45.53 ) Net income (loss) attributable to iStar Inc. and allocable to HPU holders $ (13.41 ) $ 49.60 $ (132.19 ) $ (45.53 ) Diluted earnings per HPU share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders $ (13.41 ) $ 40.13 $ (132.19 ) $ (45.53 ) Net income (loss) attributable to iStar Inc. and allocable to HPU holders $ (13.41 ) $ 40.13 $ (132.19 ) $ (45.53 ) _______________________________________________________________________________ (1) All of the Company's outstanding HPUs were repurchased and retired on August 13, 2015 (refer to Note 12). For the three and nine months ended September 30, 2015 and 2014 , the following shares were not included in the diluted EPS calculation because they were anti-dilutive (in thousands) (1)(2) : For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Joint venture shares 298 — 298 298 3.00% convertible senior unsecured notes 16,992 — 16,992 16,992 Series J convertible perpetual preferred stock 15,635 — 15,635 15,635 1.50% convertible senior unsecured notes 11,567 — 11,567 11,567 _______________________________________________________________________________ (1) For the three and nine months ended September 30, 2015 and for the nine months ended September 30, 2014 , the effect of the Company's unvested Units, performance-based Units, CSEs and restricted stock awards were anti-dilutive. (2) For the three months ended September 30, 2014, the effect of 21 unvested performance-based Units were anti-dilutive.

Fair Values

Fair Values	9 Months Ended
Fair Values	Sep. 30, 2015
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 prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) As of September 30, 2015 Recurring basis: Derivative assets (1) $ 1,755 $ — $ 1,755 $ — Derivative liabilities (1) 426 — 426 — Available-for-sale securities (1) 1,131 — — 1,131 Non-recurring basis: Impaired loans (2) 29,200 — — 29,200 Impaired real estate (3) 7,941 — — 7,941 As of December 31, 2014 Recurring basis: Derivative assets (1) $ 6,361 $ — $ 6,361 $ — Derivative liabilities (1) 478 — 478 — Available-for-sale securities (1) 7,906 7,906 — — Non-recurring basis: Impaired loans (4) 37,169 — — 37,169 Impaired real estate (5) 7,102 — — 7,102 ____________________________________________________________ (1) The fair value of the Company's derivatives and available-for-sale securities are based upon third-party broker quotes. (2) The Company recorded a provision for loan losses on one loan with a fair value of $24.0 million based on the expected proceeds to be received from the borrower. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. (3) The Company recorded an impairment on one real estate asset with a fair value of $6.5 million based on a discount rate of 11% using discounted cash flows over a 1.75 year hold period. The Company recorded an impairment on one real estate asset with a fair value of $1.4 million based on a purchase option granted. (4) The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.5 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. In addition, the Company recorded a provision for loan losses on one loan, collateralized by a land asset, with a fair value of $23.5 million based upon a foreclosure sale agreement. The land asset was acquired by an unconsolidated entity in which the Company is a partner. (5) The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term. Fair values of financial instruments— The Company's estimated fair values of its loans receivable and other lending investments and outstanding debt was $1.6 billion and $4.3 billion , respectively, as of September 30, 2015 and $1.4 billion and $4.1 billion , respectively, as of December 31, 2014 . 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	9 Months Ended
Segment Reporting	Sep. 30, 2015
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 & Development. 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 & Development 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 & Development Corporate/Other (1) Company Total Three Months Ended September 30, 2015: Operating lease income $ — $ 37,379 $ 18,125 $ 195 $ — $ 55,699 Interest income 33,599 — — — — 33,599 Other income 7,988 8 7,602 376 914 16,888 Land development revenue — — — 14,301 — 14,301 Earnings (loss) from equity method investments — 971 469 6,647 2,485 10,572 Income from sales of real estate — 6,931 19,580 — — 26,511 Total revenue and other earnings 41,587 45,289 45,776 21,519 3,399 157,570 Real estate expense — (5,473 ) (22,448 ) (7,233 ) — (35,154 ) Land development cost of sales — — — (10,686 ) — (10,686 ) Other expense (2,039 ) — — — (1,295 ) (3,334 ) Allocated interest expense (14,030 ) (16,358 ) (6,724 ) (8,265 ) (11,503 ) (56,880 ) Allocated general and administrative (2) (3,527 ) (4,209 ) (1,841 ) (3,233 ) (5,490 ) (18,300 ) Segment profit (loss) (3) $ 21,991 $ 19,249 $ 14,763 $ (7,898 ) $ (14,889 ) $ 33,216 Other significant non-cash items: Provision for (recovery of) loan losses $ 7,500 $ — $ — $ — $ — $ 7,500 Impairment of assets — — 3,916 — — 3,916 Depreciation and amortization — 9,522 5,610 380 275 15,787 Capitalized expenditures — 1,439 26,358 18,043 — 45,840 Three Months Ended September 30, 2014: Operating lease income $ — $ 36,947 $ 23,513 $ 231 $ — $ 60,691 Interest income 31,098 — — — — 31,098 Other income 885 3,573 11,795 496 1,658 18,407 Land development revenue — — — 3,290 — 3,290 Earnings (loss) from equity method investments — 349 177 123 48,929 49,578 Income from sales of real estate — — 27,791 — — 27,791 Total revenue and other earnings 31,983 40,869 63,276 4,140 50,587 190,855 Real estate expense — (6,059 ) (28,795 ) (6,431 ) — (41,285 ) Land development cost of sales — — — (2,763 ) — (2,763 ) Other expense (283 ) — — — 568 285 Allocated interest expense (14,187 ) (18,156 ) (10,169 ) (7,490 ) (5,422 ) (55,424 ) Allocated general and administrative (2) (3,492 ) (4,610 ) (2,699 ) (3,566 ) (5,737 ) (20,104 ) Segment profit (loss) (3) $ 14,021 $ 12,044 $ 21,613 $ (16,110 ) $ 39,996 $ 71,564 Other significant non-cash items: Provision for (recovery of) loan losses $ (673 ) $ — $ — $ — $ — $ (673 ) Impairment of assets — 231 4,231 11,000 — 15,462 Depreciation and amortization — 9,522 7,606 320 274 17,722 Capitalized expenditures — 595 20,555 25,655 — 46,805 Real Estate Finance Net Lease Operating Properties Land & Development Corporate/Other (1) Company Total Nine Months Ended September 30, 2015: Operating lease income $ — $ 111,500 $ 58,855 $ 635 $ — $ 170,990 Interest income 102,224 — — — — 102,224 Other income 8,834 133 27,069 1,163 3,015 40,214 Land development revenue — — — 29,101 — 29,101 Earnings (loss) from equity method investments — 4,270 1,302 13,719 6,613 25,904 Income from sales of real estate — 15,584 50,437 — — 66,021 Total revenue and other earnings 111,058 131,487 137,663 44,618 9,628 434,454 Real estate expense — (16,266 ) (73,812 ) (21,065 ) — (111,143 ) Land development cost of sales — — — (22,828 ) — (22,828 ) Other expense (2,259 ) — — — (4,086 ) (6,345 ) Allocated interest expense (42,828 ) (50,126 ) (21,449 ) (23,685 ) (29,248 ) (167,336 ) Allocated general and administrative (2) (9,750 ) (11,646 ) (5,298 ) (8,759 ) (17,001 ) (52,454 ) Segment profit (loss) (3) $ 56,221 $ 53,449 $ 37,104 $ (31,719 ) $ (40,707 ) $ 74,348 Other significant non-cash items: Provision for (recovery of) loan losses $ 30,944 $ — $ — $ — $ — $ 30,944 Impairment of assets — — 5,590 — — 5,590 Depreciation and amortization — 28,380 19,400 1,160 864 49,804 Capitalized expenditures — 3,553 58,201 67,888 — 129,642 Nine Months Ended September 30, 2014 Operating lease income $ — $ 113,502 $ 69,631 $ 633 $ — $ 183,766 Interest income 94,139 — — — — 94,139 Other income 20,327 4,306 32,335 865 4,420 62,253 Land development revenue — — — 11,920 — 11,920 Earnings (loss) from equity method investments — 1,497 1,125 (286 ) 74,512 76,848 Income from sales of real estate — — 61,465 — — 61,465 Total revenue and other earnings 114,466 119,305 164,556 13,132 78,932 490,391 Real estate expense — (17,253 ) (86,338 ) (20,861 ) — (124,452 ) Land development cost of sales — — — (10,028 ) — (10,028 ) Other expense (1,016 ) — — — (3,610 ) (4,626 ) Allocated interest expense (45,497 ) (54,775 ) (30,657 ) (21,943 ) (16,538 ) (169,410 ) Allocated general and administrative (2) (11,026 ) (13,592 ) (7,966 ) (10,839 ) (17,821 ) (61,244 ) Segment profit (loss) (3) $ 56,927 $ 33,685 $ 39,595 $ (50,539 ) $ 40,963 $ 120,631 Other significant non-cash items: Provision for (recovery of) loan losses $ (6,865 ) $ — $ — $ — $ — $ (6,865 ) Impairment of assets — 3,210 8,131 10,400 — 21,741 Depreciation and amortization — 29,332 23,838 1,114 873 55,157 Capitalized expenditures — 169 46,973 58,711 — 105,853 Real Estate Finance Net Lease Operating Properties Land & Development Corporate/Other (1) Company Total As of September 30, 2015 Real estate Real estate, net $ — $ 1,150,797 $ 474,727 $ 865,014 $ — $ 2,490,538 Real estate available and held for sale — 1,953 136,945 157,693 — 296,591 Total real estate — 1,152,750 611,672 1,022,707 — 2,787,129 Loans receivable and other lending investments, net 1,585,399 — — — — 1,585,399 Other investments — 68,719 11,472 120,269 90,059 290,519 Total portfolio assets $ 1,585,399 $ 1,221,469 $ 623,144 $ 1,142,976 $ 90,059 4,663,047 Cash and other assets 979,748 Total assets $ 5,642,795 As of December 31, 2014 Real estate Real estate, net $ — $ 1,188,160 $ 628,271 $ 860,283 $ — $ 2,676,714 Real estate available and held for sale — 4,521 162,782 118,679 — 285,982 Total real estate — 1,192,681 791,053 978,962 — 2,962,696 Loans receivable and other lending investments, net 1,377,843 — — — — 1,377,843 Other investments — 125,360 13,220 106,155 109,384 354,119 Total portfolio assets $ 1,377,843 $ 1,318,041 $ 804,273 $ 1,085,117 $ 109,384 4,694,658 Cash and other assets 768,475 Total assets $ 5,463,133 _______________________________________________________________________________ (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 included in the other reportable segments above. (2) General and administrative excludes stock-based compensation expense of $2.9 million and $10.1 million for the three and nine months ended September 30, 2015 and $3.3 million and $8.5 million for the three and nine months ended September 30, 2014 , respectively. (3) The following is a reconciliation of segment profit to net income (loss) ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Segment profit $ 33,216 $ 71,564 $ 74,348 $ 120,631 Less: (Provision for) recovery of loan losses (7,500 ) 673 (30,944 ) 6,865 Less: Impairment of assets (3,916 ) (15,462 ) (5,590 ) (21,741 ) Less: Stock-based compensation expense (2,881 ) (3,273 ) (10,066 ) (8,544 ) Less: Depreciation and amortization (15,787 ) (17,722 ) (49,804 ) (55,157 ) Less: Income tax (expense) benefit 2,893 (103 ) (3,796 ) 619 Less: Loss on early extinguishment of debt, net (67 ) (186 ) (279 ) (24,953 ) Net income (loss) $ 5,958 $ 35,491 $ (26,131 ) $ 17,720

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2015
Accounting Policies [Abstract]
Loan participation payable, net	Loan participations payable, net — The Company accounts for transfers of financial assets under ASC Topic 860, “Transfers and Servicing”, as either sales or secured borrowings. Transfers of financial assets that result in sales accounting are those in which (1) the transfer legally isolates the transferred assets from the transferor, (2) the transferee has the right to pledge or exchange the transferred assets and no condition both constrains the transferee’s right to pledge or exchange the assets and provides more than a trivial benefit to the transferor, and (3) the transferor does not maintain effective control over the transferred assets. If the transfer does not meet these criteria, the transfer is presented on the balance sheet as "Loan participations payable, net". Financial asset activities that are accounted for as sales are removed from the balance sheet with any realized gain (loss) reflected in earnings during the period of sale.
New accounting pronouncements	New Accounting Pronouncements — In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16") which requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined. The amendments in ASU 2015-16 require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments in ASU 2015-16 also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The guidance is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been issued. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03") which requires debt issuance costs to be presented as a deduction from the carrying value of the related debt obligation in the balance sheet, which is consistent with the presentation of debt discounts. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which clarified that ASU 2015-03 does not address issuance costs associated with revolving-debt arrangements and that it would be acceptable for an entity deferring such costs to present such costs as an asset and subsequently amortize the costs ratably over the term of the revolving debt arrangement. The guidance is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis ("ASU 2015-02") which updates the consolidation model for limited partnerships and similar legal entities. ASU 2015-02 includes the evaluation of fees paid to a decision maker as a variable interest and amends the effect of fee arrangements and related parties on the primary beneficiary determination. The guidance is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management is evaluating the impact of the guidance on the Company's consolidated financial statements. In November 2014, the FASB issued ASU 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity ("ASU 2014-16") which eliminates the diversity in practice for the accounting for hybrid financial instruments issued in the form of a share. ASU 2014-16 requires management to consider all terms and features, whether stated or implied, of a hybrid instrument when determining whether the nature of the instrument is more akin to a debt instrument or an equity instrument. Embedded derivative features, which are accounted for separately from host contracts, should also be considered in the analysis of the hybrid instrument. ASU 2014-16 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern ("ASU 2014-15") which requires management to evaluate whether there is substantial doubt that the Company is able to continue operating as a going concern within one year after the date the financial statements are issued or available to be issued. If there is substantial doubt, additional disclosure is required, including the principal condition or event that raised the substantial doubt, the Company's evaluation of the condition or event in relation to its ability to meet its obligations and the Company's plan to alleviate (or, which is intended to alleviate) the substantial doubt. ASU 2014-15 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12") which requires a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition in accordance with Topic 718, Compensation—Stock Compensation . ASU 2014-12 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a material impact on the Company's consolidated financial statements. In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") which supersedes existing industry-specific guidance, including ASC 360-20, Real Estate Sales . The new standard is principles-based and requires more estimates and judgment than current guidance. Certain contracts with customers, including lease contracts and financial instruments and other contractual rights, are not within the scope of the new guidance. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date , to defer the effective date of ASU 2014-09 by one year. ASU 2014-09 is now effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted beginning January 1, 2017. Management is evaluating the impact of the guidance on the Company's consolidated financial statements.

Basis of Presentation and Pri28

Basis of Presentation and Principles of Consolidation (Reclassification) (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The impact of the correction for the nine months ended September 30, 2014 is as follows ($ in thousands): As Previously Reported Change As Revised Cash flows from operating activities: Nine months ended September 30, 2014 $ 1,570 $ (11,920 ) $ (10,350 ) Cash flows from investing activities: Nine months ended September 30, 2014 $ 295,785 $ 11,920 $ 307,705

Real Estate (Tables)

Real Estate (Tables)	9 Months Ended
Real Estate (Tables)	Sep. 30, 2015
Real Estate [Abstract]
Schedule of Real Estate Assets	The Company's real estate assets were comprised of the following ($ in thousands): Net Lease Operating Properties Land & Development Total As of September 30, 2015 Land and land improvements, at cost $ 309,522 $ 134,490 $ 874,543 $ 1,318,555 Buildings and improvements, at cost 1,227,500 423,058 — 1,650,558 Less: accumulated depreciation (386,225 ) (82,821 ) (9,529 ) (478,575 ) Real estate, net 1,150,797 474,727 865,014 2,490,538 Real estate available and held for sale (1) 1,953 136,945 157,693 296,591 Total real estate $ 1,152,750 $ 611,672 $ 1,022,707 $ 2,787,129 As of December 31, 2014 Land and land improvements, at cost $ 311,890 $ 146,417 $ 868,650 $ 1,326,957 Buildings and improvements, at cost 1,240,593 578,013 — 1,818,606 Less: accumulated depreciation (364,323 ) (96,159 ) (8,367 ) (468,849 ) Real estate, net 1,188,160 628,271 860,283 2,676,714 Real estate available and held for sale (1) 4,521 162,782 118,679 285,982 Total real estate $ 1,192,681 $ 791,053 $ 978,962 $ 2,962,696 _______________________________________________________________________________ (1) As of September 30, 2015 and December 31, 2014 , the Company had $132.8 million and $155.8 million , respectively, of residential properties available for sale in its operating properties portfolio.
Schedule of Acquisitions of Real Estate Assets, Cash Paid	The following acquisitions of real estate were reflected in the Company's consolidated statements of cash flows for the nine months ended September 30, 2015 and 2014 ($ in thousands): For the Nine Months Ended September 30, 2015 2014 Acquisitions of real estate assets — 2,964 (1) _______________________________________________________________________________ (1) During the nine months ended September 30, 2014 , the Company purchased two condominium units for $3.0 million . During the nine months ended September 30, 2015 , the Company acquired, via deed-in-lieu, title to a residential property, which had a total fair value of $13.4 million and previously served as collateral for loans receivable held by the Company. No gain or loss was recorded in connection with this transaction. During the nine months ended September 30, 2014 , the Company acquired, via deed-in-lieu, title to three commercial operating properties and a land asset, which had a total fair value of $77.9 million and previously served as collateral for loans receivable held by the Company. No gain or loss was recorded in connection with this transaction. The following table summarizes the Company's pro forma revenues and net income for the nine months ended September 30, 2014 , as if the acquisition of the properties acquired during the nine months ended September 30, 2014 was completed on January 1, 2013 ($ in thousands): Pro forma total revenues 356,378 Pro forma net income (loss) 17,306

Loans Receivable and Other Le30

Loans Receivable and Other Lending Investments, net (Tables)	9 Months Ended
	Sep. 30, 2015
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 September 30, December 31, Senior mortgages $ 923,138 $ 737,535 Corporate/Partnership loans 671,738 497,796 Subordinate mortgages 28,633 53,331 Total gross carrying value of loans 1,623,509 1,288,662 Reserves for loan losses (128,558 ) (98,490 ) Total loans receivable, net 1,494,951 1,190,172 Other lending investments—securities 90,448 187,671 Total loans receivable and other lending investments, net (1) $ 1,585,399 $ 1,377,843 _______________________________________________________________________________ (1) The Company's recorded investment in loans as of September 30, 2015 and December 31, 2014 includes accrued interest of $8.9 million and $7.0 million , respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's consolidated balance sheets.
Schedule of changes in the Company's reserve for loan losses	Changes in the Company's reserve for loan losses were as follows ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Reserve for loan losses at beginning of period $ 121,934 $ 137,904 $ 98,490 $ 377,204 Provision for (recovery of) loan losses (1) 7,500 (673 ) 30,944 (6,865 ) Charge-offs (876 ) (17,324 ) (876 ) (250,432 ) Reserve for loan losses at end of period $ 128,558 $ 119,907 $ 128,558 $ 119,907 _______________________________________________________________________________ (1) For the three and nine months ended September 30, 2015 , the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.1 million and $0.6 million , respectively. For the three and nine months ended September 30, 2014 , the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.9 million and $8.5 million , respectively.
Schedule of recorded investment in loans and associated reserve for loan losses	The Company's recorded investment in loans (comprised of a loan's carrying value plus accrued interest) and the associated reserve for loan losses were as follows ($ in thousands): Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment (2) Total As of September 30, 2015 Loans $ 178,136 $ 1,454,295 $ 1,632,431 Less: Reserve for loan losses (95,520 ) (33,038 ) (128,558 ) Total $ 82,616 $ 1,421,257 $ 1,503,873 As of December 31, 2014 Loans $ 139,672 $ 1,156,031 $ 1,295,703 Less: Reserve for loan losses (64,990 ) (33,500 ) (98,490 ) Total $ 74,682 $ 1,122,531 $ 1,197,213 _______________________________________________________________________________ (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 $0.2 million as of September 30, 2015 and December 31, 2014 , 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 $8.9 million and $10.6 million as of September 30, 2015 and December 31, 2014 , respectively.
Schedule of investment in performing loans, presented by class and by credit quality, as indicated by risk rating	The Company's recorded investment in performing loans, presented by class and by credit quality, as indicated by risk rating, was as follows ($ in thousands): As of September 30, 2015 As of December 31, 2014 Performing Loans Weighted Average Risk Ratings Performing Loans Weighted Average Risk Ratings Senior mortgages $ 798,972 2.94 $ 611,009 2.73 Corporate/Partnership loans 626,332 3.40 501,620 3.88 Subordinate mortgages 28,991 3.64 53,836 2.87 Total $ 1,454,295 3.15 $ 1,166,465 3.23
Schedule of recorded investment in loans, aged by payment status and presented by class	As of September 30, 2015 , the Company's recorded investment in loans, aged by payment status and presented by class, were as follows ($ in thousands): Current Less Than and Equal to 90 Days Greater Than 90 Days (1) Total Past Due Total Senior mortgages $ 810,706 $ — $ 116,509 $ 116,509 $ 927,215 Corporate/Partnership loans 676,225 — — — 676,225 Subordinate mortgages 28,991 — — — 28,991 Total $ 1,515,922 $ — $ 116,509 $ 116,509 $ 1,632,431 _______________________________________________________________________________ (1) As of September 30, 2015 , the Company had four loans which were greater than 90 days delinquent and were in various stages of resolution, including legal proceedings, environmental concerns and foreclosure-related proceedings, and ranged from 1.0 to 7.0 years outstanding.
Schedule of recorded investment in impaired loans, presented by class	The Company's recorded investment in impaired loans, presented by class, were as follows ($ in thousands) (1) : As of September 30, 2015 As of December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With an allowance recorded: Senior mortgages $ 128,243 $ 127,285 $ (69,627 ) $ 130,645 $ 129,744 $ (64,440 ) Corporate/Partnership loans 49,893 49,893 (25,893 ) 9,027 9,057 (550 ) Total $ 178,136 $ 177,178 $ (95,520 ) $ 139,672 $ 138,801 $ (64,990 ) ____________________________________________________________ (1) All of the Company's non-accrual loans are considered impaired and included in the table above. As of December 31, 2014 , impaired loans also includes certain loans modified through troubled debt restructurings in accordance with GAAP with a recorded investment of $10.4 million although they are performing and on accrual status. The Company did not have impaired loans without related allowances recorded.
Schedule of average recorded investment in impaired loans and interest income recognized, presented by class	The Company's average recorded investment in impaired loans and interest income recognized, presented by class, were as follows ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Average Interest Average Interest Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Senior mortgages $ — $ — $ 40,635 $ 1,234 $ — $ — $ 44,574 $ 1,922 With an allowance recorded: Senior mortgages 128,969 4 192,513 18 129,730 38 385,277 140 Corporate/Partnership loans 49,893 — 34,330 40 28,880 12 63,948 157 Subtotal 178,862 4 226,843 58 158,610 50 449,225 297 Total: Senior mortgages 128,969 4 233,148 1,252 129,730 38 429,851 2,062 Corporate/Partnership loans 49,893 — 34,330 40 28,880 12 63,948 157 Total $ 178,862 $ 4 $ 267,478 $ 1,292 $ 158,610 $ 50 $ 493,799 $ 2,219
Marketable securities	Securities —Other lending investments—securities includes the following ($ in thousands): Face Value Amortized Cost Basis Net Unrealized Gain (Loss) Estimated Fair Value Net Carrying Value As of September 30, 2015 Available-for-Sale Securities Municipal debt securities $ 1,010 $ 1,010 $ 121 $ 1,131 $ 1,131 Held-to-Maturity Securities Corporate debt securities 83,193 89,317 — 90,253 89,317 Total $ 84,203 $ 90,327 $ 121 $ 91,384 $ 90,448 As of December 31, 2014 Available-for-Sale Securities Municipal debt securities $ 1,020 $ 1,020 $ 147 $ 1,167 $ 1,167 Held-to-Maturity Securities Corporate debt securities 176,254 186,504 — 190,199 186,504 Total $ 177,274 $ 187,524 $ 147 $ 191,366 $ 187,671

Other Investments (Tables)

Other Investments (Tables)	9 Months Ended
Other Investments (Tables)	Sep. 30, 2015
Investments, All Other Investments [Abstract]
Schedule of other investments and its proportionate share of results for equity method investments	The Company's other investments and its proportionate share of earnings (losses) from equity method investments were as follows ($ in thousands): Carrying Value as of Equity in Earnings (Losses) September 30, 2015 December 31, 2014 For the Three Months Ended September 30, For the Nine Months 2015 2014 2015 2014 iStar Net Lease I LLC ("Net Lease Venture") $ 68,719 $ 125,361 $ 971 $ 349 $ 4,270 $ 152 Other real estate equity investments (1) 81,437 88,848 (2,906 ) 33,509 (4,545 ) 36,004 Other investments (2)(3) 51,751 63,262 2,159 11,889 6,658 39,863 Madison Funds 38,299 45,971 331 3,982 (115 ) 1,591 Marina Palms, LLC ("Marina Palms") 50,313 30,677 10,017 (151 ) 19,636 (762 ) Total other investments 290,519 354,119 $ 10,572 $ 49,578 $ 25,904 $ 76,848 _______________________________________________________________________________ (1) For the three and nine months ended September 30, 2014 , the Company recognized $32.9 million of earnings from equity method investments resulting from asset sales by one of its equity method investees. (2) For the nine months ended September 30, 2014 , the Company recognized $23.4 million of earnings from equity method investments resulting from asset sales and a legal settlement by one of its equity method investees. (3) In conjunction with the sale of the Company's interests in Oak Hill Advisors, L.P. in 2011, the Company retained a share of the carried interest related to various funds. During the three and nine months ended September 30, 2014 , the Company recognized $9.0 million of carried interest income.
Summarized investee financial information	The following table presents the investee level summarized financial information of the Company's equity method investments, which were significant subsidiaries for the nine months ended September 30, 2015 ($ in thousands): Revenues Expenses Net Income Attributable to Parent Entities For the Nine Months Ended September 30, 2015 Marina Palms $ 142,419 $ (88,661 ) $ 53,758 For the Nine Months Ended September 30, 2014 Marina Palms $ 86 $ (1,694 ) $ (1,608 )

Other Assets and Other Liabil32

Other Assets and Other Liabilities (Tables)	9 Months Ended
Other Assets and Other Liabilities (Tables)	Sep. 30, 2015
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 September 30, 2015 December 31, 2014 Intangible assets, net (1) $ 73,588 $ 50,088 Other assets 30,163 37,085 Deferred financing fees, net (2) 29,834 36,774 Restricted cash 28,125 19,283 Other receivables 24,146 13,115 Leasing costs, net (3) 18,920 20,031 Corporate furniture, fixtures and equipment, net (4) 4,621 5,409 Deferred expenses and other assets, net $ 209,397 $ 181,785 _______________________________________________________________________________ (1) Intangible assets, net are primarily related to the acquisition of real estate assets. This balance also includes a lease incentive asset of $38.1 million (refer to Note 4 ). Accumulated amortization on intangible assets was $35.5 million and $45.1 million as of September 30, 2015 and December 31, 2014 , respectively. The amortization of above market leases and lease incentive assets decreased operating lease income in the Company's consolidated statements of operations by $1.8 million and $5.5 million for the three and nine months ended September 30, 2015 , respectively, and $1.6 million and $5.6 million for the three and nine months ended September 30, 2014 , respectively. These intangible lease assets are amortized over the term of the lease. The amortization expense for other intangible assets was $0.9 million and $3.0 million for the three and nine months ended September 30, 2015 , respectively, and $1.1 million and $4.9 million for the three and nine months ended September 30, 2014 , respectively. These amounts are included in "Depreciation and amortization" in the Company's consolidated statements of operations. (2) Accumulated amortization on deferred financing fees was $24.6 million and $15.4 million as of September 30, 2015 and December 31, 2014 , respectively. (3) Accumulated amortization on leasing costs was $9.8 million and $9.0 million as of September 30, 2015 and December 31, 2014 , respectively. (4) Accumulated depreciation on corporate furniture, fixtures and equipment was $7.8 million and $7.1 million as of September 30, 2015 and December 31, 2014 , respectively.
Schedule of accounts payable, accrued expenses and other liabilities	Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands): As of September 30, 2015 December 31, 2014 Other liabilities (1) $ 76,770 $ 48,256 Accrued expenses 60,017 62,866 Accrued interest payable 42,457 57,895 Intangible liabilities, net (2) 10,785 11,885 Accounts payable, accrued expenses and other liabilities $ 190,029 $ 180,902 _______________________________________________________________________________ (1) As of September 30, 2015 and December 31, 2014 , "Other liabilities" includes $13.6 million and $6.8 million , respectively, related to a profit sharing payable to a developer for residential units sold. As of September 30, 2015 and December 31, 2014 , "Other liabilities" also includes $6.9 million and $7.7 million , respectively, related to tax increment financing bonds which were issued by a governmental entity to fund the installation of infrastructure within one of the Company's master planned community developments. The balance represents a special assessment associated with each individual land parcel, which will decrease as the Company sells parcels. As of September 30, 2015, includes $1.3 million related to treasury share repurchases that settled in October 2015. (2) Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $6.3 million and $6.2 million as of September 30, 2015 and December 31, 2014 , respectively. The amortization of intangible liabilities increased operating lease income in the Company's consolidated statements of operations by $0.5 million and $1.2 million for the three and nine months ended September 30, 2015 , respectively, and $0.5 million and $2.1 million for the three and nine months ended September 30, 2014 , respectively.
Schedule of Deferred Tax Assets and Liabilities	Deferred tax assets and liabilities of the Company's TRS entities were as follows ($ in thousands): As of September 30, 2015 December 31, 2014 Deferred tax assets (1) $ 64,165 $ 54,318 Valuation allowance (64,165 ) (54,318 ) Net deferred tax assets (liabilities) $ — $ — _______________________________________________________________________________ (1) Deferred tax assets as of September 30, 2015 include timing differences related primarily to asset basis of $41.7 million , deferred expenses and other items of $18.9 million and net operating loss ("NOL") carryforwards of $3.6 million . Deferred tax assets as of December 31, 2014 , include timing differences related primarily to asset basis of $45.2 million , NOL carryforwards of $4.1 million and deferred expenses and other items of $5.0 million .

Debt Obligations, net (Tables)

Debt Obligations, net (Tables)	9 Months Ended
Debt Obligations, net (Tables)	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of debt obligations	As of September 30, 2015 and December 31, 2014 , the Company's debt obligations were as follows ($ in thousands): Carrying Value as of Stated Interest Rates Scheduled Maturity Date September 30, 2015 December 31, 2014 Secured credit facilities and term loans: 2012 Tranche A-2 Facility $ 339,860 $ 358,504 LIBOR + 5.75% (1) March 2017 2015 Revolving Credit Facility 250,000 — Various (2) March 2018 Term loans collateralized by net lease assets 241,740 248,955 4.851% - 7.26% (3) Various through 2026 Total secured credit facilities and term loans 831,600 607,459 Unsecured notes: 6.05% senior notes — 105,765 6.05 % — 5.875% senior notes 261,403 261,403 5.875 % March 2016 3.875% senior notes 265,000 265,000 3.875 % July 2016 3.00% senior convertible notes (4) 200,000 200,000 3.00 % November 2016 1.50% senior convertible notes (5) 200,000 200,000 1.50 % November 2016 5.85% senior notes 99,722 99,722 5.85 % March 2017 9.00% senior notes 275,000 275,000 9.00 % June 2017 4.00% senior notes 550,000 550,000 4.00 % November 2017 7.125% senior notes 300,000 300,000 7.125 % February 2018 4.875% senior notes 300,000 300,000 4.875 % July 2018 5.00% senior notes 770,000 770,000 5.00 % July 2019 Total unsecured notes 3,221,125 3,326,890 Other debt obligations: Other debt obligations 100,000 100,000 LIBOR + 1.50% October 2035 Total debt obligations 4,152,725 4,034,349 Debt discounts, net (7,908 ) (11,665 ) Total debt obligations, net (6) $ 4,144,817 $ 4,022,684 _______________________________________________________________________________ (1) The loan has a LIBOR floor of 1.25% . As of September 30, 2015 , inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00% . (2) The loan bears interest at the Company's election of either (i) a base rate, which is the greater of (a) prime, (b) federal funds plus 0.5% or (c) LIBOR plus 1.00% and subject to a margin ranging from 1.25% to 1.75% , or (ii) LIBOR subject to a margin ranging from 2.25% to 2.75% . At maturity, the Company may convert outstanding borrowings to a one year term loan which matures in quarterly installments through March 2019. (3) As of September 30, 2015 and December 31, 2014 , includes a loan with a floating rate of LIBOR plus 2.00% . As of September 30, 2015 , the weighted average interest rate of these loans is 5.3% . (4) The Company's 3.00% senior convertible fixed rate notes due November 2016 (" 3.00% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.00% Convertible Notes, at $11.77 per share 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 $17.29 per share at any time prior to the close of business on November 14, 2016. (6) The Company capitalized interest relating to development activities of $1.3 million and $4.0 million for the three and nine months ended September 30, 2015 and $1.4 million and $3.3 million for the three and nine months ended September 30, 2014 .
Schedule of future scheduled maturities of outstanding long-term debt obligations, net	Future Scheduled Maturities —As of September 30, 2015 , future scheduled maturities of outstanding debt obligations are as follows ($ in thousands): Unsecured Debt Secured Debt Total 2015 (remaining three months) $ — $ — $ — 2016 926,403 — 926,403 2017 924,722 339,860 1,264,582 2018 600,000 263,790 863,790 2019 770,000 31,183 801,183 Thereafter 100,000 196,767 296,767 Total principal maturities 3,321,125 831,600 4,152,725 Unamortized discounts, net (6,251 ) (1,657 ) (7,908 ) Total debt obligations, net $ 3,314,874 $ 829,943 $ 4,144,817
Schedule of carrying value of encumbered assets by asset type	Encumbered/Unencumbered Assets —As of September 30, 2015 and December 31, 2014 , the carrying value of the Company's encumbered and unencumbered assets by asset type are as follows ($ in thousands): As of September 30, 2015 December 31, 2014 Encumbered Assets Unencumbered Assets Encumbered Assets Unencumbered Assets Real estate, net $ 870,397 $ 1,620,141 $ 620,378 $ 2,056,336 Real estate available and held for sale 17,078 279,513 10,496 275,486 Loans receivable and other lending investments, net (1)(2) 91,997 1,377,514 46,515 1,364,828 Other investments 19,593 270,926 17,708 336,411 Cash and other assets — 979,748 — 768,475 Total $ 999,065 $ 4,527,842 $ 695,097 $ 4,801,536 _______________________________________________________________________________ (1) As of September 30, 2015 and December 31, 2014 , the amounts presented exclude general reserves for loan losses of $33.0 million and $33.5 million , respectively. (2) As of September 30, 2015 , the amount presented excludes loan participations of $148.9 million

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of unfunded commitments	As of September 30, 2015 , 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 Other Investments Total Performance-Based Commitments $ 620,370 $ 18,586 $ 60,816 $ 699,772 Strategic Investments — — 45,890 45,890 Discretionary Fundings 5,000 — — 5,000 Total $ 625,370 $ 18,586 $ 106,706 $ 750,662

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
Derivatives (Tables)	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosures [Line Items]
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 September 30, 2015 and December 31, 2014 ($ in thousands): Derivative Assets as of Derivative Liabilities as of September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives Designated in Hedging Relationships Foreign exchange contracts Other Assets $ 98 N/A $ — N/A $ — Other Liabilities $ 478 Interest rate swaps N/A — Other Assets 52 Other Liabilities 426 N/A — Total $ 98 $ 52 $ 426 $ 478 Derivatives not Designated in Hedging Relationships Foreign exchange contracts Other Assets $ 633 Other Assets $ 1,534 Other Liabilities $ 36 N/A $ — Interest rate cap Other Assets 1,024 Other Assets 4,775 N/A — N/A — Total $ 1,657 $ 6,309 $ 36 $ —
Schedule of derivative financial instruments on Consolidated Statements of Operations	The tables below present the effect of the Company's derivative financial instruments in the consolidated statements of operations and the consolidated statements of comprehensive income (loss) for the three and nine months ended September 30, 2015 and 2014 ($ in thousands): Derivatives Designated in Hedging Relationships Location of Gain (Loss) Recognized in Income 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) Reclassified from Accumulated Other Comprehensive Income into Earnings (Ineffective Portion) For the Three Months Ended September 30, 2015 Interest rate cap Interest Expense $ — $ (176 ) N/A Interest rate cap Earnings from equity method investments (2 ) — N/A Interest rate swaps Interest Expense (461 ) 43 N/A Interest rate swap Earnings from equity method investments (421 ) (117 ) N/A Foreign exchange contracts Earnings from equity method investments 119 — N/A For the Three Months Ended September 30, 2014 Interest rate cap Interest Expense — 15 N/A Interest rate swap Interest Expense 322 (47 ) N/A Foreign exchange contracts Other Expense 89 — N/A For the Nine Months Ended September 30, 2015 Interest rate cap Interest Expense — (378 ) N/A Interest rate cap Earnings from equity method investments (12 ) — N/A Interest rate swaps Interest Expense (745 ) 127 N/A Interest rate swaps Earnings from equity method investments (744 ) (349 ) N/A Foreign exchange contracts Earnings from equity method investments (65 ) — N/A For the Nine Months Ended September 30, 2014 Interest rate cap Interest Expense — 15 N/A Interest rate cap Other Expense (2,984 ) — (3,634 ) Interest rate swap Interest Expense (719 ) 49 N/A Foreign exchange contracts Other Expense (490 ) — N/A Amount of Gain (Loss) Recognized in Income Location of Gain (Loss) Recognized in Income For the Three Months Ended September 30, For the Nine Months Derivatives not Designated in Hedging Relationships 2015 2014 2015 2014 Interest rate cap Other Expense $ (1,180 ) $ 728 $ (3,751 ) $ 224 Foreign exchange contracts Other Expense 691 5,141 2,278 5,888
Foreign exchange contracts \| Designated as hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of notional amounts of outstanding derivative positions	As of September 30, 2015 , the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were designated ($ and Rs in thousands): Derivative Type Notional Amount Notional (USD Equivalent) Maturity Sells Indian rupee ("INR")/Buys USD Forward ₨ 456,000 $ 6,553 December 2016
Foreign exchange contracts \| Not designated as hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of notional amounts of outstanding derivative positions	As of September 30, 2015 , the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were not designated ($, €, £ and C$ in thousands): Derivative Type Notional Amount Notional (USD Equivalent) Maturity Sells euro ("EUR")/Buys USD Forward € 5,700 $ 6,333 October 2015 Sells pound sterling ("GBP")/Buys USD Forward £ 3,000 $ 4,685 October 2015 Sells Canadian dollar ("CAD")/Buys USD Forward C$ 10,500 $ 8,353 October 2015
Interest rate cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of notional amounts of outstanding derivative positions	As of September 30, 2015 , the Company had the following outstanding interest rate cap that was used to hedge its variable rate debt that was not designated ($ in thousands): Derivative Type Notional Amount Variable Rate Fixed Rate Effective Date Maturity Interest rate cap $ 500,000 LIBOR 1.00% July 2014 July 2017
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of notional amounts of outstanding derivative positions	As of September 30, 2015 , the Company had the following outstanding interest rate swap that was used to hedge its variable rate debt that was designated ($ in thousands): Derivative Type Notional Amount Variable Rate Fixed Rate Effective Date Maturity Interest rate swap $ 27,068 LIBOR + 2.00% 3.47% October 2012 November 2019

Equity (Tables)

Equity (Tables)	9 Months Ended
Equity (Tables)	Sep. 30, 2015
Equity [Abstract]
Schedule of cumulative redeemable preferred stock outstanding by series	The Company had the following series of Cumulative Redeemable and Convertible Perpetual Preferred Stock outstanding as of September 30, 2015 and December 31, 2014 : Cumulative Preferential Cash Dividends (1)(2) Series Shares Issued and Outstanding (in thousands) Par Value Liquidation Preference Rate per Annum Equivalent to Fixed Annual Rate (per share) D 4,000 $ 0.001 $ 25.00 8.00 % $ 2.00 E 5,600 0.001 25.00 7.875 % 1.97 F 4,000 0.001 25.00 7.80 % 1.95 G 3,200 0.001 25.00 7.65 % 1.91 I 5,000 0.001 25.00 7.50 % 1.88 J 4,000 0.001 50.00 4.50 % 2.25 25,800 _______________________________________________________________________________ (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 Company's 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 Company's Board of Directors 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 $6.0 million , $8.3 million , $5.9 million , $4.6 million and $7.0 million on its Series D, E, F, G and I Cumulative Redeemable Preferred Stock during the nine months ended September 30, 2015 and 2014 . The Company declared and paid dividends of $6.8 million on its Series J Convertible Perpetual Preferred Stock during the nine months ended September 30, 2015 and 2014 . All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding.
Accumulated other comprehensive income (loss) reflected in the Company's shareholders' equity	"Accumulated other comprehensive income (loss)" reflected in the Company's shareholders' equity is comprised of the following ($ in thousands): As of September 30, 2015 December 31, 2014 Unrealized gains (losses) on available-for-sale securities $ (155 ) $ 2,983 Unrealized gains (losses) on cash flow hedges (1,375 ) (409 ) Unrealized losses on cumulative translation adjustment (3,783 ) (3,545 ) Accumulated other comprehensive income (loss) $ (5,313 ) $ (971 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2015
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 EPS calculations ($ in thousands, except for per share data): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Income (loss) from continuing operations $ (20,553 ) $ 7,700 $ (92,152 ) $ (43,745 ) Income from sales of real estate 26,511 27,791 66,021 61,465 Net (income) loss attributable to noncontrolling interests 706 412 3,176 (367 ) Preferred dividends (12,830 ) (12,830 ) (38,490 ) (38,490 ) Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders, HPU holders and Participating Security Holders for basic earnings per common share (1) $ (6,166 ) $ 23,073 $ (61,445 ) $ (21,137 ) Add: Effect of 1.50% senior convertible unsecured notes (2) — 1,124 — — Add: Effect of 3.00% senior convertible unsecured notes (2) — 1,765 — — Add: Effect of Series J convertible perpetual preferred stock — 2,250 — — Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders, HPU holders and Participating Security Holders for diluted earnings per common share (1) $ (6,166 ) $ 28,212 $ (61,445 ) $ (21,137 ) _______________________________________________________________________________ (1) For the three months ended September 30, 2014, includes income from continuing operations allocable to Participating Security Holders of $2 on a basic and dilutive basis. (2) For the three months ended September 30, 2014, includes interest expense, amortization of fees, and other changes in income or loss that would result from the assumed conversion.
Schedule of earnings per share allocable to common shares and HPU shares	For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Earnings allocable to common shares: Numerator for basic earnings per share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders $ (6,072 ) $ 22,327 $ (59,818 ) $ (20,454 ) Net income (loss) attributable to iStar Inc. and allocable to common shareholders $ (6,072 ) $ 22,327 $ (59,818 ) $ (20,454 ) Numerator for diluted earnings per share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders $ (6,072 ) $ 27,608 $ (59,818 ) $ (20,454 ) Net income (loss) attributable to iStar Inc. and allocable to common shareholders $ (6,072 ) $ 27,608 $ (59,818 ) $ (20,454 ) Denominator for basic and diluted earnings per share: Weighted average common shares outstanding for basic earnings per common share 85,766 85,163 85,602 84,967 Add: Effect of assumed shares issued under treasury stock method for restricted shares — 505 — — Add: Effect of joint venture shares — 298 — — Add: Effect of 1.50% senior convertible unsecured notes — 11,567 — — Add: Effect of 3.00% senior convertible unsecured notes — 16,992 — — Add: Effect of series J convertible perpetual preferred stock — 15,635 — — Weighted average common shares outstanding for diluted earnings per common share 85,766 130,160 85,602 84,967 Basic earnings per common share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders $ (0.07 ) $ 0.26 $ (0.70 ) $ (0.24 ) Net income (loss) attributable to iStar Inc. and allocable to common shareholders $ (0.07 ) $ 0.26 $ (0.70 ) $ (0.24 ) Diluted earnings per common share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders $ (0.07 ) $ 0.21 $ (0.70 ) $ (0.24 ) Net income (loss) attributable to iStar Inc. and allocable to common shareholders $ (0.07 ) $ 0.21 $ (0.70 ) $ (0.24 ) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Earnings allocable to High Performance Units (1) : Numerator for basic earnings per HPU share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders $ (94 ) $ 744 $ (1,627 ) $ (683 ) Net income (loss) attributable to iStar Inc. and allocable to HPU holders $ (94 ) $ 744 $ (1,627 ) $ (683 ) Numerator for diluted earnings per HPU share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders $ (94 ) $ 602 $ (1,627 ) $ (683 ) Net income (loss) attributable to iStar Inc. and allocable to HPU holders $ (94 ) $ 602 $ (1,627 ) $ (683 ) Denominator for basic and diluted earnings per HPU share: Weighted average High Performance Units outstanding for basic and diluted earnings per share 7 15 12 15 Basic earnings per HPU share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders $ (13.41 ) $ 49.60 $ (132.19 ) $ (45.53 ) Net income (loss) attributable to iStar Inc. and allocable to HPU holders $ (13.41 ) $ 49.60 $ (132.19 ) $ (45.53 ) Diluted earnings per HPU share: Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders $ (13.41 ) $ 40.13 $ (132.19 ) $ (45.53 ) Net income (loss) attributable to iStar Inc. and allocable to HPU holders $ (13.41 ) $ 40.13 $ (132.19 ) $ (45.53 ) _______________________________________________________________________________ (1) All of the Company's outstanding HPUs were repurchased and retired on August 13, 2015 (refer to Note 12).
Schedule of anti-dilutive shares	For the three and nine months ended September 30, 2015 and 2014 , the following shares were not included in the diluted EPS calculation because they were anti-dilutive (in thousands) (1)(2) : For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Joint venture shares 298 — 298 298 3.00% convertible senior unsecured notes 16,992 — 16,992 16,992 Series J convertible perpetual preferred stock 15,635 — 15,635 15,635 1.50% convertible senior unsecured notes 11,567 — 11,567 11,567 _______________________________________________________________________________ (1) For the three and nine months ended September 30, 2015 and for the nine months ended September 30, 2014 , the effect of the Company's unvested Units, performance-based Units, CSEs and restricted stock awards were anti-dilutive. (2) For the three months ended September 30, 2014, the effect of 21 unvested performance-based Units were anti-dilutive.

Fair Values (Tables)

Fair Values (Tables)	9 Months Ended
Fair Values (Tables)	Sep. 30, 2015
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 prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) As of September 30, 2015 Recurring basis: Derivative assets (1) $ 1,755 $ — $ 1,755 $ — Derivative liabilities (1) 426 — 426 — Available-for-sale securities (1) 1,131 — — 1,131 Non-recurring basis: Impaired loans (2) 29,200 — — 29,200 Impaired real estate (3) 7,941 — — 7,941 As of December 31, 2014 Recurring basis: Derivative assets (1) $ 6,361 $ — $ 6,361 $ — Derivative liabilities (1) 478 — 478 — Available-for-sale securities (1) 7,906 7,906 — — Non-recurring basis: Impaired loans (4) 37,169 — — 37,169 Impaired real estate (5) 7,102 — — 7,102 ____________________________________________________________ (1) The fair value of the Company's derivatives and available-for-sale securities are based upon third-party broker quotes. (2) The Company recorded a provision for loan losses on one loan with a fair value of $24.0 million based on the expected proceeds to be received from the borrower. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. (3) The Company recorded an impairment on one real estate asset with a fair value of $6.5 million based on a discount rate of 11% using discounted cash flows over a 1.75 year hold period. The Company recorded an impairment on one real estate asset with a fair value of $1.4 million based on a purchase option granted. (4) The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.5 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. In addition, the Company recorded a provision for loan losses on one loan, collateralized by a land asset, with a fair value of $23.5 million based upon a foreclosure sale agreement. The land asset was acquired by an unconsolidated entity in which the Company is a partner. (5) The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term.

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
Segment Reporting (Tables)	Sep. 30, 2015
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 & Development Corporate/Other (1) Company Total Three Months Ended September 30, 2015: Operating lease income $ — $ 37,379 $ 18,125 $ 195 $ — $ 55,699 Interest income 33,599 — — — — 33,599 Other income 7,988 8 7,602 376 914 16,888 Land development revenue — — — 14,301 — 14,301 Earnings (loss) from equity method investments — 971 469 6,647 2,485 10,572 Income from sales of real estate — 6,931 19,580 — — 26,511 Total revenue and other earnings 41,587 45,289 45,776 21,519 3,399 157,570 Real estate expense — (5,473 ) (22,448 ) (7,233 ) — (35,154 ) Land development cost of sales — — — (10,686 ) — (10,686 ) Other expense (2,039 ) — — — (1,295 ) (3,334 ) Allocated interest expense (14,030 ) (16,358 ) (6,724 ) (8,265 ) (11,503 ) (56,880 ) Allocated general and administrative (2) (3,527 ) (4,209 ) (1,841 ) (3,233 ) (5,490 ) (18,300 ) Segment profit (loss) (3) $ 21,991 $ 19,249 $ 14,763 $ (7,898 ) $ (14,889 ) $ 33,216 Other significant non-cash items: Provision for (recovery of) loan losses $ 7,500 $ — $ — $ — $ — $ 7,500 Impairment of assets — — 3,916 — — 3,916 Depreciation and amortization — 9,522 5,610 380 275 15,787 Capitalized expenditures — 1,439 26,358 18,043 — 45,840 Three Months Ended September 30, 2014: Operating lease income $ — $ 36,947 $ 23,513 $ 231 $ — $ 60,691 Interest income 31,098 — — — — 31,098 Other income 885 3,573 11,795 496 1,658 18,407 Land development revenue — — — 3,290 — 3,290 Earnings (loss) from equity method investments — 349 177 123 48,929 49,578 Income from sales of real estate — — 27,791 — — 27,791 Total revenue and other earnings 31,983 40,869 63,276 4,140 50,587 190,855 Real estate expense — (6,059 ) (28,795 ) (6,431 ) — (41,285 ) Land development cost of sales — — — (2,763 ) — (2,763 ) Other expense (283 ) — — — 568 285 Allocated interest expense (14,187 ) (18,156 ) (10,169 ) (7,490 ) (5,422 ) (55,424 ) Allocated general and administrative (2) (3,492 ) (4,610 ) (2,699 ) (3,566 ) (5,737 ) (20,104 ) Segment profit (loss) (3) $ 14,021 $ 12,044 $ 21,613 $ (16,110 ) $ 39,996 $ 71,564 Other significant non-cash items: Provision for (recovery of) loan losses $ (673 ) $ — $ — $ — $ — $ (673 ) Impairment of assets — 231 4,231 11,000 — 15,462 Depreciation and amortization — 9,522 7,606 320 274 17,722 Capitalized expenditures — 595 20,555 25,655 — 46,805 Real Estate Finance Net Lease Operating Properties Land & Development Corporate/Other (1) Company Total Nine Months Ended September 30, 2015: Operating lease income $ — $ 111,500 $ 58,855 $ 635 $ — $ 170,990 Interest income 102,224 — — — — 102,224 Other income 8,834 133 27,069 1,163 3,015 40,214 Land development revenue — — — 29,101 — 29,101 Earnings (loss) from equity method investments — 4,270 1,302 13,719 6,613 25,904 Income from sales of real estate — 15,584 50,437 — — 66,021 Total revenue and other earnings 111,058 131,487 137,663 44,618 9,628 434,454 Real estate expense — (16,266 ) (73,812 ) (21,065 ) — (111,143 ) Land development cost of sales — — — (22,828 ) — (22,828 ) Other expense (2,259 ) — — — (4,086 ) (6,345 ) Allocated interest expense (42,828 ) (50,126 ) (21,449 ) (23,685 ) (29,248 ) (167,336 ) Allocated general and administrative (2) (9,750 ) (11,646 ) (5,298 ) (8,759 ) (17,001 ) (52,454 ) Segment profit (loss) (3) $ 56,221 $ 53,449 $ 37,104 $ (31,719 ) $ (40,707 ) $ 74,348 Other significant non-cash items: Provision for (recovery of) loan losses $ 30,944 $ — $ — $ — $ — $ 30,944 Impairment of assets — — 5,590 — — 5,590 Depreciation and amortization — 28,380 19,400 1,160 864 49,804 Capitalized expenditures — 3,553 58,201 67,888 — 129,642 Nine Months Ended September 30, 2014 Operating lease income $ — $ 113,502 $ 69,631 $ 633 $ — $ 183,766 Interest income 94,139 — — — — 94,139 Other income 20,327 4,306 32,335 865 4,420 62,253 Land development revenue — — — 11,920 — 11,920 Earnings (loss) from equity method investments — 1,497 1,125 (286 ) 74,512 76,848 Income from sales of real estate — — 61,465 — — 61,465 Total revenue and other earnings 114,466 119,305 164,556 13,132 78,932 490,391 Real estate expense — (17,253 ) (86,338 ) (20,861 ) — (124,452 ) Land development cost of sales — — — (10,028 ) — (10,028 ) Other expense (1,016 ) — — — (3,610 ) (4,626 ) Allocated interest expense (45,497 ) (54,775 ) (30,657 ) (21,943 ) (16,538 ) (169,410 ) Allocated general and administrative (2) (11,026 ) (13,592 ) (7,966 ) (10,839 ) (17,821 ) (61,244 ) Segment profit (loss) (3) $ 56,927 $ 33,685 $ 39,595 $ (50,539 ) $ 40,963 $ 120,631 Other significant non-cash items: Provision for (recovery of) loan losses $ (6,865 ) $ — $ — $ — $ — $ (6,865 ) Impairment of assets — 3,210 8,131 10,400 — 21,741 Depreciation and amortization — 29,332 23,838 1,114 873 55,157 Capitalized expenditures — 169 46,973 58,711 — 105,853 Real Estate Finance Net Lease Operating Properties Land & Development Corporate/Other (1) Company Total As of September 30, 2015 Real estate Real estate, net $ — $ 1,150,797 $ 474,727 $ 865,014 $ — $ 2,490,538 Real estate available and held for sale — 1,953 136,945 157,693 — 296,591 Total real estate — 1,152,750 611,672 1,022,707 — 2,787,129 Loans receivable and other lending investments, net 1,585,399 — — — — 1,585,399 Other investments — 68,719 11,472 120,269 90,059 290,519 Total portfolio assets $ 1,585,399 $ 1,221,469 $ 623,144 $ 1,142,976 $ 90,059 4,663,047 Cash and other assets 979,748 Total assets $ 5,642,795 As of December 31, 2014 Real estate Real estate, net $ — $ 1,188,160 $ 628,271 $ 860,283 $ — $ 2,676,714 Real estate available and held for sale — 4,521 162,782 118,679 — 285,982 Total real estate — 1,192,681 791,053 978,962 — 2,962,696 Loans receivable and other lending investments, net 1,377,843 — — — — 1,377,843 Other investments — 125,360 13,220 106,155 109,384 354,119 Total portfolio assets $ 1,377,843 $ 1,318,041 $ 804,273 $ 1,085,117 $ 109,384 4,694,658 Cash and other assets 768,475 Total assets $ 5,463,133 _______________________________________________________________________________ (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 included in the other reportable segments above. (2) General and administrative excludes stock-based compensation expense of $2.9 million and $10.1 million for the three and nine months ended September 30, 2015 and $3.3 million and $8.5 million for the three and nine months ended September 30, 2014 , respectively. (3) The following is a reconciliation of segment profit to net income (loss) ($ in thousands):
Reconciliation of segment profit (loss) to income (loss) from continuing operations	The following is a reconciliation of segment profit to net income (loss) ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Segment profit $ 33,216 $ 71,564 $ 74,348 $ 120,631 Less: (Provision for) recovery of loan losses (7,500 ) 673 (30,944 ) 6,865 Less: Impairment of assets (3,916 ) (15,462 ) (5,590 ) (21,741 ) Less: Stock-based compensation expense (2,881 ) (3,273 ) (10,066 ) (8,544 ) Less: Depreciation and amortization (15,787 ) (17,722 ) (49,804 ) (55,157 ) Less: Income tax (expense) benefit 2,893 (103 ) (3,796 ) 619 Less: Loss on early extinguishment of debt, net (67 ) (186 ) (279 ) (24,953 ) Net income (loss) $ 5,958 $ 35,491 $ (26,131 ) $ 17,720

Business and Organization (Deta

Business and Organization (Details) $ in Billions	273 Months Ended
Business and Organization (Details) $ in Billions	Sep. 30, 2015USD ($)
Business and Organization [Abstract]
Investment across a range of real estate sectors over the past two decades	$ 35

Basis of Presentation and Pri41

Basis of Presentation and Principles of Consolidation (Details) $ in Millions	Sep. 30, 2015USD ($)Investmententity
Consolidated VIEs
Total revenues and total expenses related to consolidated VIEs
Number of variable interest entities (in investments) \| entity	4
Variable interest entity, consolidated, carrying amount, assets	$ 202.1
Variable interest entity, consolidated, carrying amount, liabilities	26.1
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) \| Investment	25
Variable interest entity unfunded commitment	$ 21.6
Carrying value of the investments	$ 161.9

Basis of Presentation and Pri42

Basis of Presentation and Principles of Consolidation (Reclassification) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:	$ (86,964)	$ (10,350)
Cash flows from investing activities:	$ 84,705	307,705
Scenario, Previously Reported [Member]
Cash flows from operating activities:		1,570
Cash flows from investing activities:		295,785
Scenario, Adjustment [Member]
Cash flows from operating activities:		(11,920)
Cash flows from investing activities:		11,920
Scenario, Actual [Member]
Cash flows from operating activities:		(10,350)
Cash flows from investing activities:		$ 307,705

Real Estate (Schedule of Real E

Real Estate (Schedule of Real Estate Assets) (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Land and land improvements, at cost		$ 1,318,555	$ 1,326,957
Buildings and improvements, at cost		1,650,558	1,818,606
Less: accumulated depreciation		(478,575)	(468,849)
Real estate, net		2,490,538	2,676,714
Real estate available and held for sale	[1]	296,591	285,982
Total real estate		2,787,129	2,962,696
Net Lease
Real Estate Properties [Line Items]
Land and land improvements, at cost		309,522	311,890
Buildings and improvements, at cost		1,227,500	1,240,593
Less: accumulated depreciation		(386,225)	(364,323)
Real estate, net		1,150,797	1,188,160
Real estate available and held for sale	[1]	1,953	4,521
Total real estate		1,152,750	1,192,681
Operating Properties
Real Estate Properties [Line Items]
Land and land improvements, at cost		134,490	146,417
Buildings and improvements, at cost		423,058	578,013
Less: accumulated depreciation		(82,821)	(96,159)
Real estate, net		474,727	628,271
Real estate available and held for sale	[1]	136,945	162,782
Total real estate		611,672	791,053
Land & Development
Real Estate Properties [Line Items]
Land and land improvements, at cost		874,543	868,650
Buildings and improvements, at cost		0	0
Less: accumulated depreciation		(9,529)	(8,367)
Real estate, net		865,014	860,283
Real estate available and held for sale	[1]	157,693	118,679
Total real estate		$ 1,022,707	$ 978,962

[1]	As of September 30, 2015 and December 31, 2014, the Company had $132.8 million and $155.8 million, respectively, of residential properties available for sale in its operating properties portfolio.

Real Estate (Real Estate Availa

Real Estate (Real Estate Available and Held for Sale) (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2015USD ($)	Sep. 30, 2014property	Dec. 31, 2014USD ($)
Real Estate Properties [Line Items]
Real estate available and held for sale	[1]	$ 296,591		$ 285,982
Residential Operating Properties
Real Estate Properties [Line Items]
Real estate available and held for sale		132,800		155,800
Land & Development
Real Estate Properties [Line Items]
Real estate available and held for sale	[1]	157,693		118,679
Commercial Operating Properties
Real Estate Properties [Line Items]
Property Transferred from HFS, Aggregate, Carrying Value		2,900
Condominium Units
Real Estate Properties [Line Items]
Number of properties acquired \| property			2
Net Lease
Real Estate Properties [Line Items]
Real estate available and held for sale	[1]	1,953		4,521
Operating Properties
Real Estate Properties [Line Items]
Real estate available and held for sale	[1]	136,945		$ 162,782
Construction Substantially Complete \| Residential Units [Member]
Real Estate Properties [Line Items]
Property Transferred to Held for Sale, Aggregate, Carrying Value		55,500
Executed Contract with Third Party \| Net Lease
Real Estate Properties [Line Items]
Property Transferred to Held for Sale, Aggregate, Carrying Value		$ 8,200

[1]	As of September 30, 2015 and December 31, 2014, the Company had $132.8 million and $155.8 million, respectively, of residential properties available for sale in its operating properties portfolio.

Real Estate (Acquisitions) (Det

Real Estate (Acquisitions) (Details) $ in Thousands	9 Months Ended
Real Estate (Acquisitions) (Details) $ in Thousands	Sep. 30, 2015USD ($)property	Sep. 30, 2014USD ($)property
Real Estate Properties [Line Items]
Acquisitions of real estate assets	$ 0	$ 2,964
Condominium Units
Real Estate Properties [Line Items]
Acquisitions of real estate assets		$ 3,000
Number of properties acquired \| property		2
Real Estate Acquired in Satisfaction of Debt
Real Estate Properties [Line Items]
Fair Value of Assets Acquired	$ 13,400	$ 77,900
Residential Operating Properties \| Real Estate Acquired in Satisfaction of Debt
Real Estate Properties [Line Items]
Number of properties acquired \| property	1
Commercial Operating Properties \| Real Estate Acquired in Satisfaction of Debt
Real Estate Properties [Line Items]
Number of properties acquired \| property		3

Real Estate (Pro Forma Financia

Real Estate (Pro Forma Financial Information) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2014USD ($)
Real Estate [Abstract]
Pro forma total revenues	$ 356,378
Pro forma net income (loss)	17,306
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	5,300
Business combination, pro forma information, earnings or loss of acquiree since acquisition date, actual	$ 1,700

Real Estate (Dispositions) (Det

Real Estate (Dispositions) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Feb. 28, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from sales of real estate	$ 26,511	$ 27,791	$ 66,021	$ 61,465
Net proceeds from sales of real estate				10,100
Land development revenue	14,301	3,290	29,101	11,920
Land development cost of sales	$ 10,686	$ 2,763	$ 22,828	$ 10,028
Noncontrolling Interest, Ownership Percentage by Parent	90.00%	72.00%	90.00%	72.00%	72.00%
Property Contributed, Aggregate, Carrying Value				$ 29,400
Transfer Mortgage Payable				26,000
Property sold, aggregate, carrying value				6,800
Condominium Units
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of other real estate			$ 113,400	165,600
Income from sales of real estate			36,800	56,900
Net Lease Asset Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from sales of real estate			15,600
Proceeds from sale of property held-for-sale			$ 39,400
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
Impairment of long-lived assets to be disposed of or sold				$ 3,000
Net Lease Asset One
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Initial term of ground lease			99 years
Lease incentive asset	$ 38,100		$ 38,100
Land & Development
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid Purchase Price	16,100		16,100
Deferred Revenue	5,300		5,300
Operating Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sales of real estate			93,500
Deferred gain on sale of property	$ 5,300		5,300
RCC \| Operating Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from sales of real estate			13,600
Sales price of real estate held for investment			$ 68,500
iStar's ownership percentage	50.00%		50.00%
iStar Net Lease I LLC \| Net Lease
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
iStar's ownership percentage		51.90%		51.90%		51.90%
Net proceeds from sales of real estate				$ 93,700
iStar Net Lease I LLC \| Net Lease Asset One
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sales of real estate				93,700
Real Estate Equity Investment One \| Land & Development
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property Contributed, Aggregate, Carrying Value				9,500
Commercial Operating Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from sales of real estate				$ 4,600

Real Estate (Impairments) (Deta

Real Estate (Impairments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Real Estate Properties [Line Items]
Impairment of assets	$ 3,916	$ 15,462	$ 5,590	$ 21,741
Commercial Operating Properties
Real Estate Properties [Line Items]
Impairment of assets				15,400
Residential Operating Properties
Real Estate Properties [Line Items]
Impairment of assets				3,300
Net Lease
Real Estate Properties [Line Items]
Impairment of long-lived assets to be disposed of or sold				$ 3,000

Real Estate (Tenant Reimburseme

Real Estate (Tenant Reimbursements) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Real Estate [Abstract]
Tenant reimbursements	$ 6.8	$ 7.6	$ 20.4	$ 23.1

Real Estate (Redeemable Noncont

Real Estate (Redeemable Noncontrolling Interest) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	$ 11,577	$ 11,199
Not Currently Redeemable
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	7,800	9,900
Redeemable estimated redemption value	$ 11,100	$ 23,600

Real Estate (Allowance for doub

Real Estate (Allowance for doubtful accounts) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Real Estate Tenant Receivables
Schedule of Operating Lease Allowance for Doubtful Accounts [Line Items]
Allowance for Doubtful Accounts Receivable	$ 2	$ 1.3
Deferred Operating Lease
Schedule of Operating Lease Allowance for Doubtful Accounts [Line Items]
Allowance for Doubtful Accounts Receivable	$ 2.4	$ 2.4

Loans Receivable and Other Le52

Loans Receivable and Other Lending Investments, net (Schedule of Loans Receivable) (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross carrying value of loans		$ 1,623,509		$ 1,288,662
Reserves for loan losses		(128,558)	$ (121,934)	(98,490)	$ (119,907)	$ (137,904)	$ (377,204)
Total loans receivable, net		1,494,951		1,190,172
Other lending investments—securities		90,448		187,671
Total loans receivable and other lending investments, net	[1]	1,585,399		1,377,843
Interest receivable		8,900		7,000
Senior mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross carrying value of loans		923,138		737,535
Corporate/Partnership loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross carrying value of loans		671,738		497,796
Subordinate mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross carrying value of loans		$ 28,633		$ 53,331

[1]	The Company's recorded investment in loans as of September 30, 2015 and December 31, 2014 includes accrued interest of $8.9 million and $7.0 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 Le53

Loans Receivable and Other Lending Investments, net (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Loans Receivable Net of Deferred Income	$ 1,623,509,000		$ 1,288,662,000
Loans, Sold Loans Carrying Value	5,500,000	$ 30,800,000
Realized Investment Gains (Losses)	0	$ 19,100,000
Loans Receivable One
Loans Receivable Net of Deferred Income	$ 146,700,000

Loans Receivable and Other Le54

Loans Receivable and Other Lending Investments, net (Reserve for Loan Losses) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Allowance for Loan Losses [Roll Forward]
Reserve for loan losses at beginning of period		$ 121,934	$ 137,904	$ 98,490	$ 377,204
Provision for (recovery of) loan losses	[1]	7,500	(673)	30,944	(6,865)
Charge-offs		(876)	(17,324)	(876)	(250,432)
Reserve for loan losses at end of period		128,558	119,907	128,558	119,907
Recoveries of previously recorded loan loss reserves		$ 100	$ 900	$ 600	$ 8,500

[1]	For the three and nine months ended September 30, 2015, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.1 million and $0.6 million, respectively. For the three and nine months ended September 30, 2014, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.9 million and $8.5 million, respectively.

Loans Receivable and Other Le55

Loans Receivable and Other Lending Investments, net (Loans and Associated Reserve for Loan Losses) (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans		$ 1,632,431		$ 1,295,703
Less: Reserve for loan losses		(128,558)	$ (121,934)	(98,490)	$ (119,907)	$ (137,904)	$ (377,204)
Total		1,503,873		1,197,213
Individually Evaluated for Impairment
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans	[1]	178,136		139,672
Less: Reserve for loan losses	[1]	(95,520)		(64,990)
Total	[1]	82,616		74,682
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums		200		(200)
Collectively Evaluated for Impairment
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans	[2]	1,454,295		1,156,031
Less: Reserve for loan losses	[2]	(33,038)		(33,500)
Total	[2]	1,421,257		1,122,531
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums		$ 8,900		$ (10,600)

[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 $0.2 million as of September 30, 2015 and December 31, 2014, 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 $8.9 million and $10.6 million as of September 30, 2015 and December 31, 2014, respectively.

Loans Receivable and Other Le56

Loans Receivable and Other Lending Investments, net (Credit Characteristics for Performing Loans) (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Loans	$ 1,632,431	$ 1,295,703
Senior mortgages
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Loans	927,215
Corporate/Partnership loans
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Loans	676,225
Subordinate mortgages
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Loans	28,991
Real Estate Finance
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Loans	$ 1,454,295	$ 1,166,465
Weighted Average Risk Ratings	3.15	3.23
Real Estate Finance \| Senior mortgages
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Loans	$ 798,972	$ 611,009
Weighted Average Risk Ratings	2.94	2.73
Real Estate Finance \| Corporate/Partnership loans
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Loans	$ 626,332	$ 501,620
Weighted Average Risk Ratings	3.40	3.88
Real Estate Finance \| Subordinate mortgages
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Loans	$ 28,991	$ 53,836
Weighted Average Risk Ratings	3.64	2.87
Minimum
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Risk rating	1
Maximum
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating
Risk rating	5

Loans Receivable and Other Le57

Loans Receivable and Other Lending Investments, net (Credit Characteristics by Payment Status) (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2015USD ($)Loan	Dec. 31, 2014USD ($)
Recorded investment in loans, aged by payment status and presented by class
Current		$ 1,515,922
Less Than and Equal to 90 Days		0
Greater Than 90 Days	[1]	116,509
Total Past Due		116,509
Loans		$ 1,632,431	$ 1,295,703
Financing receivable, number of loans greater than 90 days past due \| Loan		4
Financing receivables, past due time period		90 days
Senior mortgages
Recorded investment in loans, aged by payment status and presented by class
Current		$ 810,706
Less Than and Equal to 90 Days		0
Greater Than 90 Days	[1]	116,509
Total Past Due		116,509
Loans		927,215
Corporate/Partnership loans
Recorded investment in loans, aged by payment status and presented by class
Current		676,225
Less Than and Equal to 90 Days		0
Greater Than 90 Days		0
Total Past Due		0
Loans		676,225
Subordinate mortgages
Recorded investment in loans, aged by payment status and presented by class
Current		28,991
Less Than and Equal to 90 Days		0
Greater Than 90 Days		0
Total Past Due		0
Loans		$ 28,991
Minimum
Recorded investment in loans, aged by payment status and presented by class
Financing receivables, past due time period		1 year
Maximum
Recorded investment in loans, aged by payment status and presented by class
Financing receivables, past due time period		7 years

[1]	As of September 30, 2015, the Company had four loans which were greater than 90 days delinquent and were in various stages of resolution, including legal proceedings, environmental concerns and foreclosure-related proceedings, and ranged from 1.0 to 7.0 years outstanding.

Loans Receivable and Other Le58

Loans Receivable and Other Lending Investments, net (Impaired Loans) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Loans modified through troubled debt restructurings						$ 10,400
Average Recorded Investment		$ 178,862	$ 267,478	$ 158,610	$ 493,799
Interest Income Recognized		4	1,292	50	2,219
Senior mortgages
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		128,969	233,148	129,730	429,851
Interest Income Recognized		4	1,252	38	2,062
Corporate/Partnership loans
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		49,893	34,330	28,880	63,948
Interest Income Recognized		0	40	12	157
With no related allowance recorded \| Senior mortgages
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		0	40,635	0	44,574
Interest Income Recognized		0	1,234	0	1,922
With an allowance recorded
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	178,136		178,136		139,672
Unpaid Principal Balance	[1]	177,178		177,178		138,801
Related Allowance	[1]	(95,520)		(95,520)		(64,990)
Average Recorded Investment		178,862	226,843	158,610	449,225
Interest Income Recognized		4	58	50	297
With an allowance recorded \| Senior mortgages
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	128,243		128,243		130,645
Unpaid Principal Balance	[1]	127,285		127,285		129,744
Related Allowance	[1]	(69,627)		(69,627)		(64,440)
Average Recorded Investment		128,969	192,513	129,730	385,277
Interest Income Recognized		4	18	38	140
With an allowance recorded \| Corporate/Partnership loans
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	49,893		49,893		9,027
Unpaid Principal Balance	[1]	49,893		49,893		9,057
Related Allowance	[1]	(25,893)		(25,893)		$ (550)
Average Recorded Investment		49,893	34,330	28,880	63,948
Interest Income Recognized		$ 0	$ 40	$ 12	$ 157

[1]	All of the Company's non-accrual loans are considered impaired and included in the table above. As of December 31, 2014, impaired loans also includes certain loans modified through troubled debt restructurings in accordance with GAAP with a recorded investment of $10.4 million although they are performing and on accrual status. The Company did not have impaired loans without related allowances recorded.

Loans Receivable and Other Le59

Loans Receivable and Other Lending Investments, net (Troubled Debt Restructurings) (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)Loan
TDR 1 [Line Items]
Financing receivable, pre modification recorded investment	$ 11,600,000	$ 7,000,000
Finance receivable, troubled loans \| Loan		1
Unfunded commitments, troubled debt restructurings	0
Individually Evaluated for Impairment
TDR 1 [Line Items]
Financing receivable, pre modification recorded investment	$ 5,800,000

Loans Receivable and Other Le60

Loans Receivable and Other Lending Investments, net (Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Face Value	$ 84,203	$ 177,274
Amortized Cost Basis	90,327	187,524
Debt Securitites, Unrealized Holding Gains	121	147
Estimated Fair Value	91,384	191,366
Net Carrying Value	90,448	187,671
Municipal Bonds
Available-for-Sale Securities
Face Value	1,010	1,020
Amortized Cost Basis	1,010	1,020
Net Unrealized Gain (Loss)	121	147
Estimated Fair Value	1,131	1,167
Net Carrying Value	1,131	1,167
Corporate Debt Securities
Held-to-Maturity Securities
Face Value	83,193	176,254
Amortized Cost Basis	89,317	186,504
Estimated Fair Value	90,253	190,199
Net Carrying Value	$ 89,317	$ 186,504

Other Investments (Schedule of

Other Investments (Schedule of Other Investments) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)Investee	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)Investee	Dec. 31, 2014USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 290,519		$ 290,519		$ 354,119
Earnings (loss) from equity method investments	10,572	$ 49,578	25,904	$ 76,848
Equity Method Investee \| Investee		1		1
Net Lease Venture
Schedule of Equity Method Investments [Line Items]
Equity method investments	68,719		68,719		125,361
Earnings (loss) from equity method investments	971	$ 349	4,270	$ 152
Other real estate equity investments
Schedule of Equity Method Investments [Line Items]
Equity method investments	81,437		81,437		88,848
Earnings (loss) from equity method investments	(2,906)	33,509	(4,545)	36,004
Other Investments
Schedule of Equity Method Investments [Line Items]
Equity method investments	51,751		51,751		63,262
Earnings (loss) from equity method investments	2,159	11,889	6,658	39,863
Madison Funds
Schedule of Equity Method Investments [Line Items]
Equity method investments	38,299		38,299		45,971
Earnings (loss) from equity method investments	331	3,982	(115)	1,591
Marina Palms
Schedule of Equity Method Investments [Line Items]
Equity method investments	50,313		50,313		$ 30,677
Earnings (loss) from equity method investments	$ 10,017	(151)	$ 19,636	(762)
Equity Method Investee
Schedule of Equity Method Investments [Line Items]
Earnings (loss) from equity method investments		32,900		32,900
Equity method investee 2
Schedule of Equity Method Investments [Line Items]
Earnings (loss) from equity method investments				23,400
Oak Hill Funds
Schedule of Equity Method Investments [Line Items]
Earnings (loss) from equity method investments		$ 9,000		$ 9,000

Other Investments (Narrative) (

Other Investments (Narrative) (Details)	1 Months Ended	9 Months Ended
Other Investments (Narrative) (Details)	Jun. 30, 2015USD ($)Investee	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)leaseasset	Dec. 31, 2014USD ($)	Feb. 28, 2014USD ($)
Schedule of Equity Method Investments [Line Items]
Income from sales of real estate		$ 9,304,000	$ 157,431,000
Net proceeds from sales of real estate			10,100,000
Acquisitions of real estate assets		$ 0	$ 2,964,000
Noncontrolling Interest, Ownership Percentage by Parent		90.00%	72.00%	72.00%
Transfer Mortgage Payable			$ 26,000,000
Number of Net Lease Assets Under Term Loan \| Investee	1
Distributions from operations of other investments		$ 13,487,000	76,719,000
Equity method investments		290,519,000		$ 354,119,000
Proceeds from Sale of Available-for-sale Securities, Equity		7,300,000
Available-for-sale Securities, Gross Realized Gain (Loss)		2,500,000
Marina Palms
Schedule of Equity Method Investments [Line Items]
Equity method investments		50,313,000		30,677,000
Net Lease Venture
Schedule of Equity Method Investments [Line Items]
Acquisitions of real estate assets			$ 200,000,000
Distributions from operations of other investments	$ 61,200,000
Equity method investments		$ 68,719,000		125,361,000
Net Lease
Schedule of Equity Method Investments [Line Items]
Number of properties acquired \| leaseasset			58
MIRELF III
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage		32.90%
MIRELF III AIV
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage		32.90%
Madison GP1 Investors LP
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage		29.50%
Madison International Real Estate Fund IILP
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage		29.50%
Net Lease Asset One \| Net Lease Venture
Schedule of Equity Method Investments [Line Items]
Net proceeds from sales of real estate			$ 93,700,000
Land & Development \| Marina Palms
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage		47.50%
Total assets		$ 376,000,000		265,700,000
Equity method investment, preferred interest		10,000,000
Land & Development \| Real Estate Equity Investment Two
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage			85.70%
Equity method investments		7,400,000		9,400,000
Loans Receivable, Commitments, Related Party			$ 45,700,000
Land & Development \| Other real estate equity investments
Schedule of Equity Method Investments [Line Items]
Equity method investments		62,600,000		66,100,000
Net Lease
Schedule of Equity Method Investments [Line Items]
Net proceeds from sales of real estate			$ 7,800,000
Net Lease \| Net Lease Venture
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage			51.90%		51.90%
Partners' capital account, contributions					$ 500,000,000
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%
Net proceeds from sales of real estate			$ 93,700,000
Total assets		387,200,000		348,100,000
Operating Properties
Schedule of Equity Method Investments [Line Items]
Net proceeds from sales of real estate		$ 93,500,000
Operating Properties \| RCC
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage		50.00%
Payments for other real estate equity investments		$ 55,400,000
Income from sales of real estate		13,600,000
Distributions from operations of other investments		21,000,000
Operating Properties \| Other real estate equity investments
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 11,300,000		$ 13,200,000
Minimum \| Other real estate equity investments
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage		16.00%
Maximum \| Other real estate equity investments
Schedule of Equity Method Investments [Line Items]
iStar's ownership percentage		76.00%
Loans Receivable and Other Lending Investments, Net \| Land & Development \| Real Estate Equity Investment Two
Schedule of Equity Method Investments [Line Items]
Loans Receivable, Related Party		$ 32,300,000
Net Lease
Schedule of Equity Method Investments [Line Items]
Debt Instrument, Maturity Date	10 years
Debt instrument, face amount	$ 120,000,000

Other Investments (Schedule o63

Other Investments (Schedule of Summarized Investee Financial Information) (Details) - Marina Palms - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Equity Method Investments, Summarized Financial Information [Line Items]
Equity Method Investment, Summarized Financial Information, Revenue	$ 142,419	$ 86
Equity Method Investment, Summarized Financial Information, Costs and Expenses	(88,661)	(1,694)
Equity Method Investment, Summarized Financial Information, Net Income (Loss)	$ 53,758	$ (1,608)

Other Assets and Other Liabil64

Other Assets and Other Liabilities (Schedule of Other Assets) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Operating Leased Assets [Line Items]
Intangible assets, net	[1]	$ 73,588		$ 73,588		$ 50,088
Other assets		30,163		30,163		37,085
Deferred financing fees, net	[2]	29,834		29,834		36,774
Restricted cash		28,125		28,125		19,283
Other receivables		24,146		24,146		13,115
Leasing costs, net	[3]	18,920		18,920		20,031
Corporate furniture, fixtures and equipment, net	[4]	4,621		4,621		5,409
Deferred expenses and other assets, net		209,397		209,397		181,785
Intangible assets, accumulated amortization		35,500		35,500		45,100
Amortization of above market lease		1,800	$ 1,600	5,500	$ 5,600
Amortization of intangible assets		900	$ 1,100	3,000	$ 4,900
Accumulated amortization of deferred financing fees		24,600		24,600		15,400
Accumulated amortization on leasing costs		9,800		9,800		9,000
Accumulated depreciation on corporate furniture, fixtures and equipment		7,800		7,800		$ 7,100
Net Lease Asset One
Operating Leased Assets [Line Items]
Lease incentive asset		$ 38,100		$ 38,100

[1]	Intangible assets, net are primarily related to the acquisition of real estate assets. This balance also includes a lease incentive asset of $38.1 million (refer to Note 4). Accumulated amortization on intangible assets was $35.5 million and $45.1 million as of September 30, 2015 and December 31, 2014, respectively. The amortization of above market leases and lease incentive assets decreased operating lease income in the Company's consolidated statements of operations by $1.8 million and $5.5 million for the three and nine months ended September 30, 2015, respectively, and $1.6 million and $5.6 million for the three and nine months ended September 30, 2014, respectively. These intangible lease assets are amortized over the term of the lease. The amortization expense for other intangible assets was $0.9 million and $3.0 million for the three and nine months ended September 30, 2015, respectively, and $1.1 million and $4.9 million for the three and nine months ended September 30, 2014, respectively. These amounts are included in "Depreciation and amortization" in the Company's consolidated statements of operations.
[2]	Accumulated amortization on deferred financing fees was $24.6 million and $15.4 million as of September 30, 2015 and December 31, 2014, respectively.
[3]	Accumulated amortization on leasing costs was $9.8 million and $9.0 million as of September 30, 2015 and December 31, 2014, respectively.
[4]	Accumulated depreciation on corporate furniture, fixtures and equipment was $7.8 million and $7.1 million as of September 30, 2015 and December 31, 2014, respectively.

Other Assets and Other Liabil65

Other Assets and Other Liabilities (Schedule of Other Liabilities) (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)property	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Real Estate Properties [Line Items]
Other Liabilities	[1]	$ 76,770		$ 76,770		$ 48,256
Accrued expenses		60,017		60,017		62,866
Accrued interest payable		42,457		42,457		57,895
Intangible liabilities, net	[2]	10,785		10,785		11,885
Accounts payable, accrued expenses and other liabilities		190,029		190,029		180,902
Profit sharing payable		13,600		13,600		6,800
Special assessment bond		6,900		6,900		7,700
Payable for treasury share repurchases		1,300		1,300
Below market lease, accumulated amortization		6,300		6,300		$ 6,200
Amortization of below market lease		$ 500	$ 500	$ 1,200	$ 2,100
Residential Real Estate \| Master Planned Community
Real Estate Properties [Line Items]
Number of Properties \| property				1

[1]	As of September 30, 2015 and December 31, 2014, "Other liabilities" includes $13.6 million and $6.8 million, respectively, related to a profit sharing payable to a developer for residential units sold. As of September 30, 2015 and December 31, 2014, "Other liabilities" also includes $6.9 million and $7.7 million, respectively, related to tax increment financing bonds which were issued by a governmental entity to fund the installation of infrastructure within one of the Company's master planned community developments. The balance represents a special assessment associated with each individual land parcel, which will decrease as the Company sells parcels. As of September 30, 2015, includes $1.3 million related to treasury share repurchases that settled in October 2015.
[2]	Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $6.3 million and $6.2 million as of September 30, 2015 and December 31, 2014, respectively. The amortization of intangible liabilities increased operating lease income in the Company's consolidated statements of operations by $0.5 million and $1.2 million for the three and nine months ended September 30, 2015, respectively, and $0.5 million and $2.1 million for the three and nine months ended September 30, 2014, respectively.

Other Assets and Other Liabil66

Other Assets and Other Liabilities (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Schedule of deferred tax assets and liabilities [Line Items]
Operating loss carryforwards			$ 856,400
Taxable REIT Subsidiaries [Member]
Schedule of deferred tax assets and liabilities [Line Items]
Deferred tax assets	[1]	$ 64,165	54,318
Valuation allowance		(64,165)	(54,318)
Net deferred tax assets (liabilities)		0	0
Real estate basis differences		41,700	45,200
Deferred expenses differences		18,900	5,000
Operating loss carryforwards		$ 3,600	$ 4,100

[1]	Deferred tax assets as of September 30, 2015 include timing differences related primarily to asset basis of $41.7 million, deferred expenses and other items of $18.9 million and net operating loss ("NOL") carryforwards of $3.6 million. Deferred tax assets as of December 31, 2014, include timing differences related primarily to asset basis of $45.2 million, NOL carryforwards of $4.1 million and deferred expenses and other items of $5.0 million.

Loan Participations Payable, 67

Loan Participations Payable, net (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Proceeds from loan participations payable		$ 138,075	$ 0
Unfunded Commitments		750,662
Loan Participations Payable, net		148,163		$ 0
Loans Receivable Net of Deferred Income		1,623,509		1,288,662
Loans Receivable, Net		1,494,951		$ 1,190,172
Loan Participation Payable One
Transfers Accounted for as Loan Participations Payable, Assets, Carrying Amount		100,000
Loans Receivable, Commitments		250,000
Loans Receivable, Funded Commitment		38,900
Proceeds from loan participations payable		38,900
Unfunded Commitments		$ 61,100
Loans Receivable with Fixed Rates of Interest		5.90%
Loans Receivable, Amount Funded to Borrower		$ 10,000
Loan Participation Payable Two
Debt Instrument, Description of Variable Rate Basis	[1]	LIBOR
Loan Receivable, Basis Spread on Variable Rate		3.50%
Transfers Accounted for as Loan Participations Payable, Assets, Carrying Amount		$ 100,000
Loans Receivable, Commitments		220,200
Loans Receivable, Funded Commitment		100,000
Proceeds from loan participations payable		99,200
Loan Participations Payable
Loans Receivable, Net		148,900
Loan Participations Payable
Loan Participations Payable, net		$ 148,200
Minimum \| Loan Participation Payable Two
Debt Instrument, Basis Spread on Variable Rate		0.25%

[1]	The loan has a LIBOR floor of 1.25%. As of September 30, 2015, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.

Debt Obligations, net (Schedule

Debt Obligations, net (Schedule of Debt) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Jun. 10, 2014
Debt Instrument [Line Items]
Total debt obligations		$ 4,152,725			$ 4,152,725		$ 4,034,349
Debt discounts, net		(7,908)			(7,908)		(11,665)
Total debt obligations, net	[1]	4,144,817			4,144,817		4,022,684
Interest Costs Capitalized		1,300		$ 1,400	$ 4,000	$ 3,300
2012 Tranche A-1 Facility
Debt Instrument [Line Items]
Variable interest rate, spread					4.00%
Variable interest rate, basis					LIBOR
2012 Tranche A-2 Facility
Debt Instrument [Line Items]
Total debt obligations	[2]	$ 339,860			$ 339,860		358,504
Stated Interest Rates		7.00%			7.00%
Variable interest rate, spread		5.75%	[2]		5.75%
Variable interest rate, basis	[2]				LIBOR
2015 Revolving Credit Facility
Debt Instrument [Line Items]
Total debt obligations	[3]	$ 250,000			$ 250,000		0
Converted term loan, term					1 year
Term loans collateralized by net lease assets
Debt Instrument [Line Items]
Total debt obligations	[4]	$ 241,740			$ 241,740		248,955
Weighted average interest rate		5.30%			5.30%
Stated interest rate, minimum	[4]				4.851%
Stated interest rate, maximum	[4]	7.26%
Total secured credit facilities and term loans
Debt Instrument [Line Items]
Total debt obligations		$ 831,600			$ 831,600		607,459
6.05% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 0			$ 0		105,765
Stated Interest Rates		6.05%			6.05%
5.875% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 261,403			$ 261,403		261,403
Stated Interest Rates		5.875%			5.875%
3.875% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 265,000			$ 265,000		265,000
Stated Interest Rates		3.875%			3.875%
3.00% senior convertible notes
Debt Instrument [Line Items]
Total debt obligations	[5]	$ 200,000			$ 200,000		200,000
Stated Interest Rates	[5]	3.00%			3.00%
Convertible debt conversion ratio		0.085
Convertible debt conversion price		$ 11.77			$ 11.77
1.50% senior convertible notes
Debt Instrument [Line Items]
Total debt obligations	[6]	$ 200,000			$ 200,000		200,000
Stated Interest Rates	[6]	1.50%			1.50%
Convertible debt conversion ratio		0.0578
Convertible debt conversion price		$ 17.29			$ 17.29
5.85% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 99,722			$ 99,722		99,722
Stated Interest Rates		5.85%			5.85%
9.00% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 275,000			$ 275,000		275,000
Stated Interest Rates		9.00%			9.00%
4.00% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 550,000			$ 550,000		550,000
Stated Interest Rates		4.00%			4.00%			4.00%
7.125% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 300,000			$ 300,000		300,000
Stated Interest Rates		7.125%			7.125%
4.875% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 300,000			$ 300,000		300,000
Stated Interest Rates		4.875%			4.875%
5.00% senior notes
Debt Instrument [Line Items]
Total debt obligations		$ 770,000			$ 770,000		770,000
Stated Interest Rates		5.00%			5.00%			5.00%
Unsecured Notes
Debt Instrument [Line Items]
Total debt obligations		$ 3,221,125			$ 3,221,125		3,326,890
Other debt obligations
Debt Instrument [Line Items]
Total debt obligations		$ 100,000			$ 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) \| 2012 Tranche A-1 Facility
Debt Instrument [Line Items]
Variable interest rate, spread					1.25%
Property One \| London Interbank Offered Rate (LIBOR) \| Term loans collateralized by net lease assets
Debt Instrument [Line Items]
Variable interest rate, spread					2.00%
Base Rate \| London Interbank Offered Rate (LIBOR) \| 2015 Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest rate, spread					1.00%
Base Rate \| Federal Funds Effective Swap Rate \| 2015 Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest rate, spread					0.50%
Base Rate \| Minimum \| 2015 Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, margin					1.25%
Base Rate \| Maximum \| 2015 Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, margin					1.75%
London Interbank Offered Rate (LIBOR) \| Minimum \| 2015 Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, margin					2.25%
London Interbank Offered Rate (LIBOR) \| Maximum \| 2015 Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, margin					2.75%

[1]	The Company capitalized interest relating to development activities of $1.3 million and $4.0 million for the three and nine months ended September 30, 2015 and $1.4 million and $3.3 million for the three and nine months ended September 30, 2014.
[2]	The loan has a LIBOR floor of 1.25%. As of September 30, 2015, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.
[3]	The loan bears interest at the Company's election of either (i) a base rate, which is the greater of (a) prime, (b) federal funds plus 0.5% or (c) LIBOR plus 1.00% and subject to a margin ranging from 1.25% to 1.75%, or (ii) LIBOR subject to a margin ranging from 2.25% to 2.75%. At maturity, the Company may convert outstanding borrowings to a one year term loan which matures in quarterly installments through March 2019.
[4]	As of September 30, 2015 and December 31, 2014, includes a loan with a floating rate of LIBOR plus 2.00%. As of September 30, 2015, the weighted average interest rate of these loans is 5.3%.
[5]	The Company's 3.00% senior convertible fixed rate notes due November 2016 ("3.00% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.00% Convertible Notes, at $11.77 per share at any time prior to the close of business on November 14, 2016.
[6]	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 $17.29 per share at any time prior to the close of business on November 14, 2016.

Debt Obligations, net (Future S

Debt Obligations, net (Future Scheduled Maturities) (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Maturities of Long-term Debt [Abstract]
2015 (remaining three months)		$ 0
2,016		926,403
2,017		1,264,582
2,018		863,790
2,019		801,183
Thereafter		296,767
Total principal maturities		4,152,725	$ 4,034,349
Unamortized discounts, net		(7,908)	(11,665)
Total debt obligations, net	[1]	4,144,817	$ 4,022,684
Unsecured Debt
Maturities of Long-term Debt [Abstract]
2015 (remaining three months)		0
2,016		926,403
2,017		924,722
2,018		600,000
2,019		770,000
Thereafter		100,000
Total principal maturities		3,321,125
Unamortized discounts, net		(6,251)
Total debt obligations, net		3,314,874
Secured Debt
Maturities of Long-term Debt [Abstract]
2015 (remaining three months)		0
2,016		0
2,017		339,860
2,018		263,790
2,019		31,183
Thereafter		196,767
Total principal maturities		831,600
Unamortized discounts, net		(1,657)
Total debt obligations, net		$ 829,943

[1]	The Company capitalized interest relating to development activities of $1.3 million and $4.0 million for the three and nine months ended September 30, 2015 and $1.4 million and $3.3 million for the three and nine months ended September 30, 2014.

Debt Obligations, net (Secured

Debt Obligations, net (Secured Credit Facility Narrative) (Details)		1 Months Ended	3 Months Ended			9 Months Ended		39 Months Ended
		Mar. 31, 2012USD ($)tranche	Sep. 30, 2015USD ($)		Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Mar. 27, 2015USD ($)
Line of Credit Facility [Line Items]
Repayments of Debt						$ 430,048,000	$ 1,445,635,000
Loss on early extinguishment of debt, net			$ 67,000		$ 186,000	$ 279,000	24,953,000
2012 Secured Credit Facilities
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 880,000,000
Number of tranches \| tranche		2
2012 Tranche A-1 Facility
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 410,000,000
Variable interest rate, basis						LIBOR
Percentage of par credit facilities were issued at		98.00%
Variable interest rate, spread						4.00%
2012 Tranche A-2 Facility
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 470,000,000
Repayments of Debt								$ 130,100,000
Stated Interest Rates			7.00%			7.00%
Loss on early extinguishment of debt, net			$ 100,000		$ 200,000	$ 300,000	$ 1,000,000
Variable interest rate, basis	[1]					LIBOR
Percentage of par credit facilities were issued at		98.50%
Variable interest rate, spread			5.75%	[1]		5.75%
2015 Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity									$ 250,000,000
Line of Credit Facility, Interest Rate at Period End			3.17%
Converted term loan, term						1 year
Minimum
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage						0.375%
Minimum \| 2012 Tranche A-2 Facility
Line of Credit Facility [Line Items]
Variable interest rate, spread			1.25%
Maximum
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage						0.50%
London Interbank Offered Rate (LIBOR) \| Minimum \| 2012 Tranche A-1 Facility
Line of Credit Facility [Line Items]
Variable interest rate, spread						1.25%

[1]	The loan has a LIBOR floor of 1.25%. As of September 30, 2015, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.

Debt Obligations, net (Unsecure

Debt Obligations, net (Unsecured Notes Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 10, 2014
Debt Instrument [Line Items]
Repayments of Debt				$ 430,048	$ 1,445,635
Loss on early extinguishment of debt, net		$ (67)	$ (186)	$ (279)	(24,953)
4.00% senior notes
Debt Instrument [Line Items]
Stated Interest Rates		4.00%		4.00%		4.00%
Debt instrument, face amount						$ 550,000
5.00% senior notes
Debt Instrument [Line Items]
Stated Interest Rates		5.00%		5.00%		5.00%
Debt instrument, face amount						$ 770,000
February 2013 Secured Credit Facility
Debt Instrument [Line Items]
Repayments of Debt	$ 1,320,000
Early Repayment \| February 2013 Secured Credit Facility
Debt Instrument [Line Items]
Loss on early extinguishment of debt, net					$ 22,800

Debt Obligations, net (Encumber

Debt Obligations, net (Encumbered/Unencumbered Assets) (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Real estate, net		$ 2,490,538		$ 2,676,714
Real estate available and held for sale	[1]	296,591		285,982
Loans receivable and other lending investments, net	[2]	1,585,399		1,377,843
Other investments		290,519		354,119
Cash and other assets		979,748		768,475
Total assets		5,642,795		5,463,133
Reserves for loan losses		128,558	$ 121,934	98,490	$ 119,907	$ 137,904	$ 377,204
Loan Participations Payable, net		148,163		0
Loans Receivable, Net		1,494,951		1,190,172
Encumbered Assets
Debt Instrument [Line Items]
Real estate, net		870,397		620,378
Real estate available and held for sale		17,078		10,496
Loans receivable and other lending investments, net	[3],[4]	91,997		46,515
Other investments		19,593		17,708
Cash and other assets		0		0
Total assets		999,065		695,097
Unencumbered Assets
Debt Instrument [Line Items]
Real estate, net		1,620,141		2,056,336
Real estate available and held for sale		279,513		275,486
Loans receivable and other lending investments, net	[3],[4]	1,377,514		1,364,828
Other investments		270,926		336,411
Cash and other assets		979,748		768,475
Total assets		4,527,842		4,801,536
Collectively Evaluated for Impairment
Debt Instrument [Line Items]
Reserves for loan losses	[5]	33,038		$ 33,500
Loan Participations Payable
Debt Instrument [Line Items]
Loans Receivable, Net		$ 148,900

[1]	As of September 30, 2015 and December 31, 2014, the Company had $132.8 million and $155.8 million, respectively, of residential properties available for sale in its operating properties portfolio.
[2]	The Company's recorded investment in loans as of September 30, 2015 and December 31, 2014 includes accrued interest of $8.9 million and $7.0 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's consolidated balance sheets.
[3]	(2)As of September 30, 2015, the amount presented excludes loan participations of $148.9 million.
[4]	As of September 30, 2015 and December 31, 2014, the amounts presented exclude general reserves for loan losses of $33.0 million and $33.5 million, respectively.
[5]	The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $8.9 million and $10.6 million as of September 30, 2015 and December 31, 2014, respectively.

Debt Obligations, net (Debt Cov

Debt Obligations, net (Debt Covenants) (Details)	9 Months Ended
Debt Obligations, net (Debt Covenants) (Details)	Sep. 30, 2015
Unsecured Credit Facilities
Debt Instrument [Line Items]
Minimum ratio of unencumbered assets to unsecured indebtedness	1.2
Debt instrument covenant multiple of minimum fixed charges on outstanding borrowings	1.5
2012 Secured Credit Facilities
Debt Instrument [Line Items]
Multiple of the minimum collateral coverage on outstanding borrowings	1.25
2015 Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument covenant multiple of minimum fixed charges on outstanding borrowings	1.5
Multiple of the minimum collateral coverage on outstanding borrowings	1.5
Total secured credit facilities and term loans
Debt Instrument [Line Items]
Percentage of REIT taxable income permitted for distribution under debt covenants	100.00%

Commitments and Contingencies74

Commitments and Contingencies (Unfunded Commitments) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Percentage of capital committed to strategic investments that may be drawn down	100.00%
Unfunded Financial Commitments [Line Items]
Performance-Based Commitments	$ 699,772
Strategic Investments	45,890
Discretionary Fundings	5,000
Total	750,662
Loans and Other Lending Investments
Unfunded Financial Commitments [Line Items]
Performance-Based Commitments	620,370
Strategic Investments	0
Discretionary Fundings	5,000
Total	625,370
Real Estate
Unfunded Financial Commitments [Line Items]
Performance-Based Commitments	18,586
Strategic Investments	0
Discretionary Fundings	0
Total	18,586
Other Investments
Unfunded Financial Commitments [Line Items]
Performance-Based Commitments	60,816
Strategic Investments	45,890
Discretionary Fundings	0
Total	$ 106,706

Commitments and Contingencies75

Commitments and Contingencies (Narrative) (Details) - Land & Development - Real Estate Sales $ in Millions	Jan. 22, 2015USD ($)a
Other Commitments [Line Items]
Area of real estate property \| a	1,250
Unpaid purchase price	$ 114
Unpaid purchase price, interest rate	12.00%
Court Settlement Payment Period	30 days
Noncontrolling Interest, ownership percentage by noncontrolling owners	15.00%

Derivatives (Derivatives) (Deta

Derivatives (Derivatives) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Designated as hedge
Derivative financial instruments on consolidated balance sheets
Derivative Assets, Fair Value	$ 98	$ 52
Derivative Liabilities, Fair Value	426	478
Designated as hedge \| Foreign exchange contracts
Derivative financial instruments on consolidated balance sheets
Derivative Assets, Fair Value		0
Derivative Liabilities, Fair Value	0
Designated as hedge \| Foreign exchange contracts \| Other Assets
Derivative financial instruments on consolidated balance sheets
Derivative Assets, Fair Value	98
Designated as hedge \| Foreign exchange contracts \| Other Liabilities
Derivative financial instruments on consolidated balance sheets
Derivative Liabilities, Fair Value		478
Designated as hedge \| Interest rate swaps
Derivative financial instruments on consolidated balance sheets
Derivative Assets, Fair Value	0
Derivative Liabilities, Fair Value		0
Designated as hedge \| Interest rate swaps \| Other Assets
Derivative financial instruments on consolidated balance sheets
Derivative Assets, Fair Value		52
Designated as hedge \| Interest rate swaps \| Other Liabilities
Derivative financial instruments on consolidated balance sheets
Derivative Liabilities, Fair Value	426
Not designated as hedge
Derivative financial instruments on consolidated balance sheets
Derivative Assets, Fair Value	1,657	6,309
Derivative Liabilities, Fair Value	36	0
Not designated as hedge \| Foreign exchange contracts
Derivative financial instruments on consolidated balance sheets
Derivative Liabilities, Fair Value		0
Not designated as hedge \| Foreign exchange contracts \| Other Assets
Derivative financial instruments on consolidated balance sheets
Derivative Assets, Fair Value	633	1,534
Not designated as hedge \| Foreign exchange contracts \| Other Liabilities
Derivative financial instruments on consolidated balance sheets
Derivative Liabilities, Fair Value	36
Not designated as hedge \| Interest rate cap
Derivative financial instruments on consolidated balance sheets
Derivative Liabilities, Fair Value	0	0
Not designated as hedge \| Interest rate cap \| Other Assets
Derivative financial instruments on consolidated balance sheets
Derivative Assets, Fair Value	$ 1,024	$ 4,775

Derivatives (Classification on

Derivatives (Classification on the Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
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)	$ 0	$ 0	$ 0	$ 0
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)	(176)	15	(378)	15
Interest Expense \| Interest rate swaps \| Designated as hedge
Derivative financial instruments on consolidated statements of operations
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	(461)	322	(745)	(719)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)	43	(47)	127	49
Earnings from equity method investments \| 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)	(2)		(12)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)	0		0
Earnings from equity method investments \| Interest rate swaps \| Designated as hedge
Derivative financial instruments on consolidated statements of operations
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	(421)		(744)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)	(117)		(349)
Earnings from equity method investments \| 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)	119		(65)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)	0		0
Other 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)				(2,984)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)				0
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Ineffective Portion)				(3,634)
Other Expense \| Interest rate cap \| Not designated as hedge
Derivative financial instruments on consolidated statements of operations
Amount of Gain or (Loss) Recognized in Income	(1,180)	728	(3,751)	224
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)		89		(490)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)		0		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	$ 691	$ 5,141	$ 2,278	$ 5,888

Derivatives (Foreign Exchange C

Derivatives (Foreign Exchange Contracts) (Details) € in Thousands, ₨ in Thousands, £ in Thousands, CAD in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015EUR (€)	Sep. 30, 2015GBP (£)	Sep. 30, 2015CAD	Sep. 30, 2015INR (₨)
Derivative [Line Items]
Foreign currency transaction gain (loss)	$ (100)	$ 100	$ (100)	$ 400
Sells Indian rupee (INR)/Buys USD Forward
Derivative [Line Items]
Derivative, Notional Amount	6,553		$ 6,553					₨ 456,000
Maturity of Foreign Currency Derivatives			Dec. 30, 2016
Sells euro (EUR)/Buys USD Forward
Derivative [Line Items]
Derivative, Notional Amount	6,333		$ 6,333		€ 5,700
Maturity of Foreign Currency Derivatives			Oct. 5, 2015
Sells pound sterling (GBP)/Buys USD Forward
Derivative [Line Items]
Derivative, Notional Amount	4,685		$ 4,685			£ 3,000
Maturity of Foreign Currency Derivatives			Oct. 5, 2015
Sells Canadian dollar (CAD)/Buys USD Forward
Derivative [Line Items]
Derivative, Notional Amount	$ 8,353		$ 8,353				CAD 10,500
Maturity of Foreign Currency Derivatives			Oct. 5, 2015

Derivatives (Interest Rate Hedg

Derivatives (Interest Rate Hedges) (Details) $ in Thousands	9 Months Ended
Derivatives (Interest Rate Hedges) (Details) $ in Thousands	Sep. 30, 2015USD ($)
Interest rate swap
Derivative [Line Items]
Derivative, Variable Interest Rate	2.00%
Derivative, Notional Amount	$ 27,068
Derivative, Fixed Interest Rate	3.47%
Interest rate cap
Derivative [Line Items]
Derivative, Notional Amount	$ 500,000
Derivative, Cap Interest Rate	1.00%
Terminated Interest Rate Swap
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 100
Interest rate swaps
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 700

Derivatives (Credit Risk-Relate

Derivatives (Credit Risk-Related Contingent Features) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Forward Contracts
Derivative [Line Items]
Collateral Posted For Hedges	$ 1.4	$ 3

Equity (Preferred Stock) (Detai

Equity (Preferred Stock) (Details) - USD ($) $ / shares in Units, shares in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Class of Stock [Line Items]
Shares Issued and Outstanding		25,800		25,800
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
Amount of preferred dividends in arrears		$ 0
Maximum
Class of Stock [Line Items]
Number of days prior to dividend payment date that Board of Directors may elect to designate as the payment date		30 days		30 days
Minimum
Class of Stock [Line Items]
Number of days prior to dividend payment date that Board of Directors may elect to designate as the payment date		10 days		10 days
Series D
Class of Stock [Line Items]
Shares Issued and Outstanding		4,000		4,000
Par Value (in dollars per share)		$ 0.001		$ 0.001
Liquidation Preference (in dollars per share)	[1],[2]	$ 25		$ 25
Rate per Annum (as a percent)	[1],[2]	8.00%	8.00%
Equivalent to Fixed Annual Rate (in dollars per share)	[1],[2]	$ 2	$ 2
Dividends declared and paid		$ 6,000,000	$ 6,000,000
Series E
Class of Stock [Line Items]
Shares Issued and Outstanding		5,600		5,600
Par Value (in dollars per share)		$ 0.001		$ 0.001
Liquidation Preference (in dollars per share)	[1],[2]	$ 25		$ 25
Rate per Annum (as a percent)	[1],[2]	7.875%	7.875%
Equivalent to Fixed Annual Rate (in dollars per share)	[1],[2]	$ 1.97	$ 1.97
Dividends declared and paid		$ 8,300,000	$ 8,300,000
Series F
Class of Stock [Line Items]
Shares Issued and Outstanding		4,000		4,000
Par Value (in dollars per share)		$ 0.001		$ 0.001
Liquidation Preference (in dollars per share)	[1],[2]	$ 25		$ 25
Rate per Annum (as a percent)	[1],[2]	7.80%	7.80%
Equivalent to Fixed Annual Rate (in dollars per share)	[1],[2]	$ 1.95	$ 1.95
Dividends declared and paid		$ 5,900,000	$ 5,900,000
Series G
Class of Stock [Line Items]
Shares Issued and Outstanding		3,200		3,200
Par Value (in dollars per share)		$ 0.001		$ 0.001
Liquidation Preference (in dollars per share)	[1],[2]	$ 25		$ 25
Rate per Annum (as a percent)	[1],[2]	7.65%	7.65%
Equivalent to Fixed Annual Rate (in dollars per share)	[1],[2]	$ 1.91	$ 1.91
Dividends declared and paid		$ 4,600,000	$ 4,700,000
Series I
Class of Stock [Line Items]
Shares Issued and Outstanding		5,000		5,000
Par Value (in dollars per share)		$ 0.001		$ 0.001
Liquidation Preference (in dollars per share)	[1],[2]	$ 25		$ 25
Rate per Annum (as a percent)	[1],[2]	7.50%	7.50%
Equivalent to Fixed Annual Rate (in dollars per share)	[1],[2]	$ 1.88	$ 1.88
Dividends declared and paid		$ 7,000,000	$ 7,100,000
Series J
Class of Stock [Line Items]
Shares Issued and Outstanding		4,000		4,000
Par Value (in dollars per share)		$ 0.001		$ 0.001
Liquidation Preference (in dollars per share)	[1],[2]	$ 50		$ 50
Rate per Annum (as a percent)	[1],[2]	4.50%	4.50%
Equivalent to Fixed Annual Rate (in dollars per share)	[1],[2]	$ 2.25	$ 2.25
Dividends declared and paid		$ 6,800,000	$ 6,800,000

[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 Company's 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 Company's Board of Directors 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 $6.0 million, $8.3 million, $5.9 million, $4.6 million and $7.0 million on its Series D, E, F, G and I Cumulative Redeemable Preferred Stock during the nine months ended September 30, 2015 and 2014. The Company declared and paid dividends of $6.8 million on its Series J Convertible Perpetual Preferred Stock during the nine months ended September 30, 2015 and 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.

Equity (Dividends) (Details)

Equity (Dividends) (Details) - USD ($) $ in Millions	9 Months Ended
Equity (Dividends) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
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		$ 856.4

Equity (Stock Repurchase Progra

Equity (Stock Repurchase Program) (Details) - USD ($)	9 Months Ended
Equity (Stock Repurchase Program) (Details) - USD ($)	Sep. 30, 2015	Sep. 21, 2015
Stock Repurchase Program
Treasury stock, shares, acquired	1,667,209
Treasury stock value acquired including acquisition costs	$ 20,300,000
Treasury stock acquired, average cost per share (usd per share)	$ 12.16
Repurchase of common stock, authorized amount		$ 50,000,000
Available repurchase of common stock, authorized amount	$ 48,700,000

Equity (HPU Repurchase) (Detail

Equity (HPU Repurchase) (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 13, 2015	Sep. 30, 2015	Dec. 31, 2014
HPUs outstanding	14,888
Common stock equivalent underlying HPUs	2,800,000
Cash exchange rate for CSE underlying HPU	$ 9.30
Common stock exchange rate for CSE underlying HPU	$ 0.7
HPU Cash Value Acquired	$ 9,800
HPU Stock Value Acquired	1,200,000
Stock Issued	$ 15,200
High Performance Units, value	$ 9,800	$ 0	$ 9,800
HPU
Stock Performance Award Percentage of Holders with Binding Commitments To Tender, Cash Redemption	37.00%
Stock Performance Award Percentage of Holders with Binding Commitments To Tender	63.00%

Equity (Accumulated Other Compr

Equity (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accumulated other comprehensive income (loss) reflected in the Company's shareholders' equity
Unrealized gains (losses) on available-for-sale securities	$ (155)	$ 2,983
Unrealized gains (losses) on cash flow hedges	(1,375)	(409)
Unrealized losses on cumulative translation adjustment	(3,783)	(3,545)
Accumulated other comprehensive income (loss)	$ (5,313)	$ (971)

Stock-Based Compensation Plan86

Stock-Based Compensation Plans and Employee Benefits (Stock-based Compensation) (Details) $ in Thousands	Jan. 30, 2015shares	Feb. 28, 2015shares	Jan. 31, 2015	May. 31, 2014shares	Jan. 31, 2014	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Installmentshares	Sep. 30, 2014USD ($)	Feb. 01, 2013shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $						$ 2,881	$ 3,273	$ 10,066	$ 8,544
Unrecognized compensation cost \| $						2,400		$ 2,400
Weighted-average period to recognize the unrecognized compensation cost								1 year 1 month 2 days
Deferred compensation share-based arrangements, liability, current and noncurrent \| $						$ 16,100		$ 16,100
2013 Performance Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Points Issued		10		73
2014 Performance Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Points Issued		34
Long-term Incentive Plan 2006 and 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance						3,700,000		3,700,000
Employees \| Common Stock Subject to Sales Restriction
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested, Number of Shares								318,482
Restricted shares awarded								189,241
Sale restriction period								2 years
Employees \| Service Based Restricted Stock Units Vesting on December 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted units	64,196
Non-vested, outstanding (in shares)						61,557		61,557
Number of vesting installments \| Installment								1
Employees \| Performance Based Restricted Stock Units Vesting on December 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted units	49,650
Non-vested, outstanding (in shares)						48,519		48,519
Risk-free interest rate			0.75%
Expected stock price volatility			28.14%
Employees \| Service Based Restricted Stock Units Vesting on December 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, outstanding (in shares)						62,662		62,662
Number of vesting installments \| Installment								1
Employees \| Performance-based restricted stock units vesting on December 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, outstanding (in shares)						49,434		49,434
Risk-free interest rate					0.76%
Expected stock price volatility					44.84%
Employees \| Performance-based restricted stock units vesting on December 31, 2016 \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					0.00%
Employees \| Performance-based restricted stock units vesting on December 31, 2016 \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					200.00%
Employees \| Service-based restricted stock units vesting on February 1, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, outstanding (in shares)										194,526
Employees \| Service based restricted stock units with specified vesting dates
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, outstanding (in shares)						10,666		10,666
Number of vesting installments \| Installment								1
Employees 2 [Member] [Member] \| Service based restricted stock units with specified vesting dates
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted units								4,751
Non-vested, outstanding (in shares)						4,751		4,751
Number of vesting installments \| Installment								1

Stock-Based Compensation Plan87

Stock-Based Compensation Plans and Employee Benefits (Directors' Awards) (Details) - Directors - CSE and restricted stock units $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	50,360
Weighted average grant date fair value \| $ / shares	$ 14.40
Vesting term	1 year
Non-vested, outstanding (in shares)	289,261
Aggregate intrinsic value for directors \| $	$ 3.6

Stock-Based Compensation Plan88

Stock-Based Compensation Plans and Employee Benefits (401(k) Plan) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Gross contributions made by the Company	$ 0.1	$ 0.1	$ 1	$ 0.8

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Earnings Per Share) (Details 1) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Class of Stock [Line Items]
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic			$ 2,000
Income (loss) from continuing operations	[1]	$ (20,553,000)	7,700,000	$ (92,152,000)	$ (43,745,000)
Income from sales of real estate		26,511,000	27,791,000	66,021,000	61,465,000
Net (income) loss attributable to noncontrolling interests		706,000	412,000	3,176,000	(367,000)
Preferred dividends		(12,830,000)	(12,830,000)	(38,490,000)	(38,490,000)
Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders, HPU holders and Participating Security Holders for basic earnings per common share(1)		(6,166,000)	23,073,000	(61,445,000)	(21,137,000)
Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders, HPU holders and Participating Security Holders for diluted earnings per common share	[2]	(6,166,000)	28,212,000	(61,445,000)	(21,137,000)
1.50% convertible senior unsecured notes
Class of Stock [Line Items]
Add: Effect of 1.5% and 3.00% senior convertible unsecured notes, and Series J convertible perpetual preferred stock	[3]	0	1,124,000	0	0
3.00% convertible senior unsecured notes
Class of Stock [Line Items]
Add: Effect of 1.5% and 3.00% senior convertible unsecured notes, and Series J convertible perpetual preferred stock	[3]	0	1,765,000	0	0
Series J convertible perpetual preferred stock
Class of Stock [Line Items]
Add: Effect of 1.5% and 3.00% senior convertible unsecured notes, and Series J convertible perpetual preferred stock		$ 0	$ 2,250,000	$ 0	$ 0

[1]	Income (loss) from continuing operations attributable to iStar Inc. was $(19.8) million and $(89.0) million for the three and nine months ended September 30, 2015, respectively, and $8.1 million and $(44.1) million for the three and nine months ended September 30, 2014, respectively. Refer to Note 14 for details on the calculation of earnings per share.
[2]	For the three months ended September 30, 2014, includes income from continuing operations allocable to Participating Security Holders of $2 on a basic and dilutive basis.
[3]	For the three months ended September 30, 2014, includes interest expense, amortization of fees, and other changes in income or loss that would result from the assumed conversion.

Earnings Per Share (Schedule 90

Earnings Per Share (Schedule of Earnings Per Share) (Details 2) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Denominator for basic and diluted earnings per share:
Weighted average common shares outstanding for basic earnings per common share	[1]	85,766	85,163	85,602	84,967
Weighted average common shares outstanding for diluted earnings per common share	[1]	85,766	130,160	85,602	84,967
Basic earnings per common share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders	[1]	$ (0.07)	$ 0.26	$ (0.70)	$ (0.24)
Diluted earnings per common share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders	[1]	(0.07)	0.21	(0.70)	(0.24)
Net income (loss) attributable to iStar Inc. and allocable to common shareholders	[1]	(0.07)	0.21	(0.70)	(0.24)
Basic earnings per HPU share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders	[1],[2]	(13.41)	49.60	(132.19)	(45.53)
Net income (loss) attributable to iStar Inc. and allocable to HPU holders	[1]	(0.07)	0.26	(0.70)	(0.24)
Diluted earnings per HPU share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders	[1],[2]	(13.41)	40.13	(132.19)	(45.53)
Net income (loss) attributable to iStar Inc. and allocable to HPU holders	[1],[2]	$ (13.41)	$ 40.13	$ (132.19)	$ (45.53)
Common Stock
Denominator for basic and diluted earnings per share:
Weighted average common shares outstanding for basic earnings per common share		85,766	85,163	85,602	84,967
Add: Effect of assumed shares issued under treasury stock method for restricted shares		0	505	0	0
Weighted average common shares outstanding for diluted earnings per common share		85,766	130,160	85,602	84,967
Basic earnings per common share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders		$ (0.07)	$ 0.26	$ (0.70)	$ (0.24)
Net income (loss) attributable to iStar Inc. and allocable to common shareholders		(0.07)	0.26	(0.70)	(0.24)
Diluted earnings per common share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders		(0.07)	0.21	(0.70)	(0.24)
Net income (loss) attributable to iStar Inc. and allocable to common shareholders		$ (0.07)	$ 0.21	$ (0.70)	$ (0.24)
HPU's
Denominator for basic and diluted earnings per HPU share:
Weighted average High Performance Units outstanding for basic and diluted earnings per share	[3]	7	15	12	15
Basic earnings per HPU share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders		$ (13.41)	$ 49.60	$ (132.19)	$ (45.53)
Net income (loss) attributable to iStar Inc. and allocable to HPU holders		(13.41)	49.60	(132.19)	(45.53)
Diluted earnings per HPU share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders		(13.41)	40.13	(132.19)	(45.53)
Net income (loss) attributable to iStar Inc. and allocable to HPU holders		$ (13.41)	$ 40.13	$ (132.19)	$ (45.53)
Basic \| Common Stock
Numerator for basic and diluted earnings per share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders		$ (6,072)	$ 22,327	$ (59,818)	$ (20,454)
Net income (loss) attributable to iStar Inc. and allocable to common shareholders		(6,072)	22,327	(59,818)	(20,454)
Basic \| HPU's
Numerator for basic and diluted earnings per HPU share
Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders	[3]	(94)	744	(1,627)	(683)
Net income (loss) attributable to iStar Inc. and allocable to HPU holders	[3]	(94)	744	(1,627)	(683)
Diluted \| Common Stock
Numerator for basic and diluted earnings per share:
Income (loss) from continuing operations attributable to iStar Inc. and allocable to common shareholders		(6,072)	27,608	(59,818)	(20,454)
Net income (loss) attributable to iStar Inc. and allocable to common shareholders		(6,072)	27,608	(59,818)	(20,454)
Diluted \| HPU's
Numerator for basic and diluted earnings per HPU share
Income (loss) from continuing operations attributable to iStar Inc. and allocable to HPU holders	[3]	(94)	602	(1,627)	(683)
Net income (loss) attributable to iStar Inc. and allocable to HPU holders	[3]	$ (94)	$ 602	$ (1,627)	$ (683)
Joint venture shares \| Common Stock
Denominator for basic and diluted earnings per share:
Add: Effect of joint venture shares		0	298	0	0
1.50% convertible senior unsecured notes \| Common Stock
Denominator for basic and diluted earnings per share:
Add Effect of 1.50% and 3.00% senior convertible unsecured notes		0	11,567	0	0
3.00% convertible senior unsecured notes \| Common Stock
Denominator for basic and diluted earnings per share:
Add Effect of 1.50% and 3.00% senior convertible unsecured notes		0	16,992	0	0
Series J convertible perpetual preferred stock \| Common Stock
Denominator for basic and diluted earnings per share:
Add: Effect of series J convertible perpetual preferred stock		0	15,635	0	0

[1]	Income (loss) from continuing operations attributable to iStar Inc. was $(19.8) million and $(89.0) million for the three and nine months ended September 30, 2015, respectively, and $8.1 million and $(44.1) million for the three and nine months ended September 30, 2014, respectively. Refer to Note 14 for details on the calculation of earnings per share.
[2]	All of the Company's outstanding High Performance Units ("HPUs") were repurchased and retired on August 13, 2015 (refer to Note 12)
[3]	All of the Company's outstanding HPUs were repurchased and retired on August 13, 2015 (refer to Note 12).

Earnings Per Share (Anti-diluti

Earnings Per Share (Anti-dilutive Shares) (Details) - shares		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Anti-dilutive shares
Anti-dilutive shares			21
Joint venture shares
Anti-dilutive shares
Anti-dilutive shares	[1],[2]	298,000	0	298,000	298,000
3.00% convertible senior unsecured notes
Anti-dilutive shares
Anti-dilutive shares	[1],[2]	16,992,000	0	16,992,000	16,992,000
Series J convertible perpetual preferred stock
Anti-dilutive shares
Anti-dilutive shares	[1],[2]	15,635,000	0	15,635,000	15,635,000
1.50% convertible senior unsecured notes
Anti-dilutive shares
Anti-dilutive shares	[1],[2]	11,567,000	0	11,567,000	11,567,000

[1]	For the three and nine months ended September 30, 2015 and for the nine months ended September 30, 2014, the effect of the Company's unvested Units, performance-based Units, CSEs and restricted stock awards were anti-dilutive.
[2]	For the three months ended September 30, 2014, the effect of 21 unvested performance-based Units were anti-dilutive.

Fair Values (Schedule of Fair V

Fair Values (Schedule of Fair Value Measurement) (Details) $ in Thousands		9 Months Ended			12 Months Ended
		Sep. 30, 2015USD ($)Loanreal_estate_asset		Sep. 30, 2014	Dec. 31, 2014USD ($)Loanreal_estate_asset
Assets and liabilities recorded at fair value
Expected term		1 year 9 months
Recurring basis \| Quoted market prices in active markets (Level 1)
Assets and liabilities recorded at fair value
Available-for-sale securities	[1]				$ 7,906
Recurring basis \| Significant other observable inputs (Level 2)
Assets and liabilities recorded at fair value
Derivative assets	[1]	$ 1,755			6,361
Derivative liabilities	[1]	426			478
Recurring basis \| Significant unobservable inputs (Level 3)
Assets and liabilities recorded at fair value
Available-for-sale securities	[1]	1,131
Non-recurring basis \| Significant unobservable inputs (Level 3)
Assets and liabilities recorded at fair value
Impaired loans		29,200	[2]		37,169	[3]
Impaired real estate		7,941	[4]		7,102	[5]
Total \| Recurring basis
Assets and liabilities recorded at fair value
Derivative assets	[1]	1,755			6,361
Derivative liabilities	[1]	426			478
Available-for-sale securities	[1]	1,131			7,906
Total \| Non-recurring basis
Assets and liabilities recorded at fair value
Impaired loans		29,200	[2]		37,169	[3]
Impaired real estate		7,941	[4]		7,102	[5]
Loans Receivable One \| Non-recurring basis \| Significant unobservable inputs (Level 3)
Assets and liabilities recorded at fair value
Impaired loans	[2]	24,000
Loans Receivable Two \| Non-recurring basis \| Significant unobservable inputs (Level 3)
Assets and liabilities recorded at fair value
Impaired loans	[2]	$ 5,200
Discounted Cash Flow Valuation Technique \| Loans Receivable One \| Non-recurring basis
Assets and liabilities recorded at fair value
Number of Impaired Loans \| Loan		1
Discounted Cash Flow Valuation Technique \| Loans Receivable Two \| Non-recurring basis
Assets and liabilities recorded at fair value
Impaired loans	[2]				$ 8,500
Number of Impaired Loans \| Loan		1			1
Weighted average expected term					1 year 6 months
Discount rate (as a percent)					4.70%
Discounted Cash Flow Valuation Technique \| Loans Receivable Three \| Non-recurring basis
Assets and liabilities recorded at fair value
Number of Impaired Real Estate Assets \| real_estate_asset		1
Number of Impaired Loans \| Loan					1
Discounted Cash Flow Valuation Technique \| Commercial Operating Properties \| Non-recurring basis
Assets and liabilities recorded at fair value
Impaired real estate		$ 6,500
Discount rate (as a percent)		11.00%
Discounted Cash Flow Valuation Technique \| Land & Development \| Non-recurring basis
Assets and liabilities recorded at fair value
Impaired real estate					$ 7,100
Number of Impaired Real Estate Assets \| real_estate_asset					1
Discount rate (as a percent)					15.00%
Expected term				10 years
Purchase Option Valuation Technique \| Commercial Operating Properties \| Non-recurring basis
Assets and liabilities recorded at fair value
Impaired real estate		$ 1,400
Market Approach Valuation Technique \| Loans Receivable Three \| Non-recurring basis
Assets and liabilities recorded at fair value
Impaired loans	[2]				$ 5,200
Executed Foreclosure Sale Agreement \| Loans Receivable Three \| Non-recurring basis
Assets and liabilities recorded at fair value
Impaired loans					$ 23,500
Number of Impaired Loans \| Loan					1

[1]	The fair value of the Company's derivatives and available-for-sale securities are based upon third-party broker quotes.
[2]	The Company recorded a provision for loan losses on one loan with a fair value of $24.0 million based on the expected proceeds to be received from the borrower. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal.
[3]	The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.5 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. In addition, the Company recorded a provision for loan losses on one loan, collateralized by a land asset, with a fair value of $23.5 million based upon a foreclosure sale agreement. The land asset was acquired by an unconsolidated entity in which the Company is a partner.
[4]	The Company recorded an impairment on one real estate asset with a fair value of $6.5 million based on a discount rate of 11% using discounted cash flows over a 1.75 year hold period. The Company recorded an impairment on one real estate asset with a fair value of $1.4 million based on a purchase option granted.
[5]	The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term.

Fair Values (Narrative) (Detail

Fair Values (Narrative) (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Book and estimated fair values of financial instruments
Loans receivable and other lending investments, net	[1]	$ 1,585,399	$ 1,377,843
Debt obligations, net	[2]	4,144,817	4,022,684
Fair Value
Book and estimated fair values of financial instruments
Loans receivable and other lending investments, net		1,600,000	1,400,000
Debt obligations, net		$ 4,300,000	$ 4,100,000

[1]	The Company's recorded investment in loans as of September 30, 2015 and December 31, 2014 includes accrued interest of $8.9 million and $7.0 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's consolidated balance sheets.
[2]	The Company capitalized interest relating to development activities of $1.3 million and $4.0 million for the three and nine months ended September 30, 2015 and $1.4 million and $3.3 million for the three and nine months ended September 30, 2014.

Segment Reporting (Schedule of

Segment Reporting (Schedule of Segments) (Details) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)		Sep. 30, 2015USD ($)segments		Sep. 30, 2014USD ($)		Dec. 31, 2014USD ($)
Segment Reporting
Number of reportable segments \| segments					4
Operating lease income		$ 55,699	$ 60,691		$ 170,990		$ 183,766
Interest income		33,599	31,098		102,224		94,139
Other income		16,888	18,407		40,214		62,253
Land development revenue		14,301	3,290		29,101		11,920
Earnings (loss) from equity method investments		10,572	49,578		25,904		76,848
Income from sales of real estate		26,511	27,791		66,021		61,465
Total revenue and other earnings		157,570	190,855		434,454		490,391
Real estate expense		(35,154)	(41,285)		(111,143)		(124,452)
Land development cost of sales		(10,686)	(2,763)		(22,828)		(10,028)
Other expense		(3,334)	285		(6,345)		(4,626)
Allocated interest expense		(56,880)	(55,424)		(167,336)		(169,410)
Allocated general and administrative	[1]	(18,300)	(20,104)		(52,454)		(61,244)
Segment profit (loss)		33,216	71,564	[2]	74,348	[2]	120,631	[2]
Provision for (recovery of) loan losses	[3]	7,500	(673)		30,944		(6,865)
Impairment of assets		3,916	15,462		5,590		21,741
Depreciation and amortization		15,787	17,722		49,804		55,157
Capitalized expenditures		45,840	46,805		129,642		105,853
Real estate, net		2,490,538			2,490,538				$ 2,676,714
Real estate available and held for sale	[4]	296,591			296,591				285,982
Total real estate		2,787,129			2,787,129				2,962,696
Loans receivable and other lending investments, net	[5]	1,585,399			1,585,399				1,377,843
Other investments		290,519			290,519				354,119
Total portfolio assets		4,663,047			4,663,047				4,694,658
Cash and other assets		979,748			979,748				768,475
Total assets		5,642,795			5,642,795				5,463,133
Operating Segments \| Real Estate Finance
Segment Reporting
Operating lease income		0	0		0		0
Interest income		33,599	31,098		102,224		94,139
Other income		7,988	885		8,834		20,327
Land development revenue		0	0		0		0
Earnings (loss) from equity method investments		0	0		0		0
Income from sales of real estate		0	0		0		0
Total revenue and other earnings		41,587	31,983		111,058		114,466
Real estate expense		0	0		0		0
Land development cost of sales		0	0		0		0
Other expense		(2,039)	(283)		(2,259)		(1,016)
Allocated interest expense		(14,030)	(14,187)		(42,828)		(45,497)
Allocated general and administrative	[1]	(3,527)	(3,492)		(9,750)		(11,026)
Segment profit (loss)	[2]	21,991	14,021		56,221		56,927
Provision for (recovery of) loan losses		7,500	(673)		30,944		(6,865)
Impairment of assets		0	0		0		0
Depreciation and amortization		0	0		0		0
Capitalized expenditures		0	0		0		0
Real estate, net		0			0				0
Real estate available and held for sale		0			0				0
Total real estate		0			0				0
Loans receivable and other lending investments, net		1,585,399			1,585,399				1,377,843
Other investments		0			0				0
Total portfolio assets		1,585,399			1,585,399				1,377,843
Operating Segments \| Net Lease
Segment Reporting
Operating lease income		37,379	36,947		111,500		113,502
Interest income		0	0		0		0
Other income		8	3,573		133		4,306
Land development revenue		0	0		0		0
Earnings (loss) from equity method investments		971	349		4,270		1,497
Income from sales of real estate		6,931	0		15,584		0
Total revenue and other earnings		45,289	40,869		131,487		119,305
Real estate expense		(5,473)	(6,059)		(16,266)		(17,253)
Land development cost of sales		0	0		0		0
Other expense		0	0		0		0
Allocated interest expense		(16,358)	(18,156)		(50,126)		(54,775)
Allocated general and administrative	[1]	(4,209)	(4,610)		(11,646)		(13,592)
Segment profit (loss)	[2]	19,249	12,044		53,449		33,685
Provision for (recovery of) loan losses		0	0		0		0
Impairment of assets		0	231		0		3,210
Depreciation and amortization		9,522	9,522		28,380		29,332
Capitalized expenditures		1,439	595		3,553		169
Real estate, net		1,150,797			1,150,797				1,188,160
Real estate available and held for sale		1,953			1,953				4,521
Total real estate		1,152,750			1,152,750				1,192,681
Loans receivable and other lending investments, net		0			0				0
Other investments		68,719			68,719				125,360
Total portfolio assets		1,221,469			1,221,469				1,318,041
Operating Segments \| Operating Properties
Segment Reporting
Operating lease income		18,125	23,513		58,855		69,631
Interest income		0	0		0		0
Other income		7,602	11,795		27,069		32,335
Land development revenue		0	0		0		0
Earnings (loss) from equity method investments		469	177		1,302		1,125
Income from sales of real estate		19,580	27,791		50,437		61,465
Total revenue and other earnings		45,776	63,276		137,663		164,556
Real estate expense		(22,448)	(28,795)		(73,812)		(86,338)
Land development cost of sales		0	0		0		0
Other expense		0	0		0		0
Allocated interest expense		(6,724)	(10,169)		(21,449)		(30,657)
Allocated general and administrative	[1]	(1,841)	(2,699)		(5,298)		(7,966)
Segment profit (loss)	[2]	14,763	21,613		37,104		39,595
Provision for (recovery of) loan losses		0	0		0		0
Impairment of assets		3,916	4,231		5,590		8,131
Depreciation and amortization		5,610	7,606		19,400		23,838
Capitalized expenditures		26,358	20,555		58,201		46,973
Real estate, net		474,727			474,727				628,271
Real estate available and held for sale		136,945			136,945				162,782
Total real estate		611,672			611,672				791,053
Loans receivable and other lending investments, net		0			0				0
Other investments		11,472			11,472				13,220
Total portfolio assets		623,144			623,144				804,273
Operating Segments \| Land
Segment Reporting
Operating lease income		195	231		635		633
Interest income		0	0		0		0
Other income		376	496		1,163		865
Land development revenue		14,301	3,290		29,101		11,920
Earnings (loss) from equity method investments		6,647	123		13,719		(286)
Income from sales of real estate		0	0		0		0
Total revenue and other earnings		21,519	4,140		44,618		13,132
Real estate expense		(7,233)	(6,431)		(21,065)		(20,861)
Land development cost of sales		(10,686)	(2,763)		(22,828)		(10,028)
Other expense		0	0		0		0
Allocated interest expense		(8,265)	(7,490)		(23,685)		(21,943)
Allocated general and administrative	[1]	(3,233)	(3,566)		(8,759)		(10,839)
Segment profit (loss)	[2]	(7,898)	(16,110)		(31,719)		(50,539)
Provision for (recovery of) loan losses		0	0		0		0
Impairment of assets		0	11,000		0		10,400
Depreciation and amortization		380	320		1,160		1,114
Capitalized expenditures		18,043	25,655		67,888		58,711
Real estate, net		865,014			865,014				860,283
Real estate available and held for sale		157,693			157,693				118,679
Total real estate		1,022,707			1,022,707				978,962
Loans receivable and other lending investments, net		0			0				0
Other investments		120,269			120,269				106,155
Total portfolio assets		1,142,976			1,142,976				1,085,117
Corporate, Non-Segment \| Corporate/Other
Segment Reporting
Operating lease income	[6]	0	0		0		0
Interest income	[6]	0	0		0		0
Other income	[6]	914	1,658		3,015		4,420
Land development revenue	[6]	0	0		0		0
Earnings (loss) from equity method investments	[6]	2,485	48,929		6,613		74,512
Income from sales of real estate	[6]	0	0		0		0
Total revenue and other earnings	[6]	3,399	50,587		9,628		78,932
Real estate expense	[6]	0	0		0		0
Land development cost of sales	[6]	0	0		0		0
Other expense	[6]	(1,295)	568		(4,086)		(3,610)
Allocated interest expense	[6]	(11,503)	(5,422)		(29,248)		(16,538)
Allocated general and administrative	[1],[6]	(5,490)	(5,737)		(17,001)		(17,821)
Segment profit (loss)	[2],[6]	(14,889)	39,996		(40,707)		40,963
Provision for (recovery of) loan losses	[6]	0	0		0		0
Impairment of assets	[6]	0	0		0		0
Depreciation and amortization	[6]	275	274		864		873
Capitalized expenditures	[6]	0	$ 0		0		$ 0
Real estate, net	[6]	0			0				0
Real estate available and held for sale	[6]	0			0				0
Total real estate	[6]	0			0				0
Loans receivable and other lending investments, net	[6]	0			0				0
Other investments	[6]	90,059			90,059				109,384
Total portfolio assets	[6]	$ 90,059			$ 90,059				$ 109,384

[1]	General and administrative excludes stock-based compensation expense of $2.9 million and $10.1 million for the three and nine months ended September 30, 2015 and $3.3 million and $8.5 million for the three and nine months ended September 30, 2014, respectively.
[2]	The following is a reconciliation of segment profit to net income (loss) ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014Segment profit$33,216 $71,564 $74,348 $120,631Less: (Provision for) recovery of loan losses(7,500) 673 (30,944) 6,865Less: Impairment of assets(3,916) (15,462) (5,590) (21,741)Less: Stock-based compensation expense(2,881) (3,273) (10,066) (8,544)Less: Depreciation and amortization(15,787) (17,722) (49,804) (55,157)Less: Income tax (expense) benefit2,893 (103) (3,796) 619Less: Loss on early extinguishment of debt, net(67) (186) (279) (24,953)Net income (loss)$5,958 $35,491 $(26,131) $17,720
[3]	For the three and nine months ended September 30, 2015, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.1 million and $0.6 million, respectively. For the three and nine months ended September 30, 2014, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.9 million and $8.5 million, respectively.
[4]	As of September 30, 2015 and December 31, 2014, the Company had $132.8 million and $155.8 million, respectively, of residential properties available for sale in its operating properties portfolio.
[5]	The Company's recorded investment in loans as of September 30, 2015 and December 31, 2014 includes accrued interest of $8.9 million and $7.0 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's consolidated balance sheets.
[6]	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 included in the other reportable segments above.

Segment Reporting (Reconciliati

Segment Reporting (Reconciliation of Segment Profit (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Reconciliation of segment profit (loss) to income (loss) from continuing operations
Segment profit	$ 33,216	$ 71,564	[1]	$ 74,348	[1]	$ 120,631	[1]
Less: (Provision for) recovery of loan losses	(7,500)	673		(30,944)		6,865
Less: Impairment of assets	(3,916)	(15,462)		(5,590)		(21,741)
Less: Stock-based compensation expense	(2,881)	(3,273)		(10,066)		(8,544)
Less: Depreciation and amortization	(15,787)	(17,722)		(49,804)		(55,157)
Less: Income tax (expense) benefit	2,893	(103)		(3,796)		619
Less: Loss on early extinguishment of debt, net	(67)	(186)		(279)		(24,953)
Net income (loss)	$ 5,958	$ 35,491		$ (26,131)		$ 17,720

[1]	The following is a reconciliation of segment profit to net income (loss) ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014Segment profit$33,216 $71,564 $74,348 $120,631Less: (Provision for) recovery of loan losses(7,500) 673 (30,944) 6,865Less: Impairment of assets(3,916) (15,462) (5,590) (21,741)Less: Stock-based compensation expense(2,881) (3,273) (10,066) (8,544)Less: Depreciation and amortization(15,787) (17,722) (49,804) (55,157)Less: Income tax (expense) benefit2,893 (103) (3,796) 619Less: Loss on early extinguishment of debt, net(67) (186) (279) (24,953)Net income (loss)$5,958 $35,491 $(26,131) $17,720