Gramercy Property Trust 10-Q 9 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	9-May-14
Document Information [Line Items]	'	'
Entity Registrant Name	'Gramercy Property Trust Inc.	'
Entity Central Index Key	'0001287701	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Trading Symbol	'GPT	'
Entity Common Stock, Shares Outstanding	'	71,413,569
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2014	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Real estate investments, at cost:	'	'
Land	$74,241	$73,131
Building and improvements	274,887	264,581
Less: accumulated depreciation	-6,716	-4,247
Total real estate investments, net	342,412	333,465
Cash and cash equivalents	61,888	43,333
Restricted cash	455	179
Investment in joint ventures	36,210	39,385
Servicing advances receivable	8,818	8,758
Retained CDO bonds	7,471	6,762
Tenant and other receivables, net	8,493	5,976
Acquired lease assets, net of accumulated amortization of $2,590 and $1,596	41,545	40,960
Deferred costs, net of accumulated amortization of $1,064 and $634	10,366	5,815
Other assets	7,807	7,030
Total assets	525,465	491,663
Liabilities:	'	'
Secured revolving credit facility	0	45,000
Mortgage notes payable	124,341	122,180
Exchangeable senior notes, net	109,055	0
Total long term debt	233,396	167,180
Accounts payable and accrued expenses	9,535	11,517
Dividends payable	3,989	37,600
Accrued interest payable	509	81
Deferred revenue	2,401	1,581
Below-market lease liabilities, net of accumulated amortization of $396 and $300	5,939	6,077
Derivative instruments, at fair value	6,295	302
Other liabilities	934	852
Total liabilities	262,998	225,190
Commitments and contingencies	0	0
Equity (Deficit):	'	'
Common stock, par value $0.001, 100,000,000 shares authorized, and 71,409,485 and 71,313,043 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively.	71	71
Series A cumulative redeemable preferred stock, par value $0.001, liquidation preference $88,146, and 3,525,822 shares authorized, issued and outstanding at March 31, 2014 and December 31, 2013.	85,235	85,235
Additional paid-in-capital	1,150,465	1,149,896
Accumulated other comprehensive loss	-1,212	-1,405
Accumulated deficit	-972,092	-967,324
Total equity	262,467	266,473
Total liabilities and equity	$525,465	$491,663

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets [Parenthetical] (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Acquired lease assets, accumulated amortization (in dollars)	$2,590	$1,596
Deferred costs, accumulated amortization (in dollars)	1,064	634
Below market lease liabilities, accumulated amortization (in dollars)	396	300
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	71,409,485	71,313,043
Common Stock, shares outstanding	71,409,485	71,313,043
Series A cumulative redeemable preferred stock, par value (in dollars per share)	$0.00	$0.00
Series A cumulative redeemable preferred stock, liquidation preference (in dollars)	$88,146	$88,146
Series A cumulative redeemable preferred stock, shares authorized	3,525,822	3,525,822
Series A cumulative redeemable preferred stock, shares issued	3,525,822	3,525,822
Series A cumulative redeemable preferred stock, shares outstanding	3,525,822	3,525,822

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Revenues	'		'
Rental revenue	$7,494		$656
Management fees	6,965		8,315
Investment income	376		152
Operating expense reimbursements	681		109
Other income	68		27
Total revenues	15,584		9,259
Property operating expenses:	'		'
Property management expenses	5,244		5,990
Property operating expenses	822		132
Total property operating expenses	6,066		6,122
Depreciation and amortization	3,385		337
Interest expense	2,345		0
Management, general and administrative	4,342		4,422
Acquisition expenses	235		551
Gain on settlement of derivatives	-115		0
Total expenses	16,258		11,432
Loss from continuing operations before equity in net income (loss) from joint ventures and provisions for taxes	-674		-2,173
Equity in net income (loss) of joint ventures	628		-1,188
Loss from continuing operations before provision for taxes and discontinued operations	-46		-3,361
Provision for taxes	-369		-405
Loss from continuing operations	-415	[1]	-3,766	[1]
Income (loss) from discontinued operations	-86		11,001
Gain on sale of joint venture interest to a director related entity	0		1,317
Gains from disposals	0		389,140
Provision for taxes	0		-2,515
Income (loss) from discontinued operations	-86		398,943
Net income (loss) attributable to Gramercy Property Trust Inc.	-501		395,177
Preferred stock dividends	-1,790		-1,790
Net income (loss) available to common stockholders	-2,291		393,387
Other comprehensive income (loss):	'		'
Unrealized gain on available for sale debt securities	334		0
Unrealized loss on derivative instruments	-141		0
Reclassification of unrealized holding gains on securities and derivative instruments into discontinued operations	0		95,265
Other comprehensive income	193		95,265
Comprehensive income (loss) attributable to Gramercy Property Trust Inc.	-308		490,442
Comprehensive income (loss) attributable to common stockholders	($2,098)		$488,652
Basic earnings per share:	'		'
Net loss from continuing operations, after preferred dividends (in dollars per share)	($0.03)		($0.10)
Net income from discontinued operations (in dollars per share)	$0		$6.80
Net income (loss) available to common stockholders (in dollars per share)	($0.03)		$6.70
Diluted earnings per share:	'		'
Net loss from continuing operations, after preferred dividends (in dollars per share)	($0.03)		($0.10)
Net income from discontinued operations (in dollars per share)	$0		$6.80
Net income (loss) available to common stockholders (in dollars per share)	($0.03)		$6.70
Basic weighted average common shares outstanding (in shares)	70,763,959		58,678,078
Diluted weighted average common shares and common share equivalents outstanding (in shares)	70,763,959		58,678,078
[1]	Net income (loss) from continuing operations represents loss before discontinued operations.

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Stockholdersb Equity (Deficit) (USD $)	Total	Common Stock [Member]	Series A Preferred Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
In Thousands, except Share data
Balance at Dec. 31, 2013	$266,473	$71	$85,235	$1,149,896	($1,405)	($967,324)
Balance (in shares) at Dec. 31, 2013	71,313,043	71,313,043	'	'	'	'
Net income	-501	0	0	0	0	-501
Change in net unrealized loss on derivative instruments	-141	0	0	0	-141	0
Change in net unrealized gain on debt securities	334	0	0	0	334	0
Offering costs	-53	0	0	-53	0	0
Issuance of stock	0	0	0	0	0	0
Issuance of stock (in shares)	'	94,885	'	'	'	'
Issuance of stock - stock purchase plan	0	0	0	0	0	0
Issuance of stock - stock purchase plan (in shares)	'	1,557	'	'	'	'
Stock based compensation - fair value	622	0	0	622	0	0
Stock based compensation - fair value (in shares)	'	0	'	'	'	'
Dividends on preferred stock	-1,790	0	0	0	0	-1,790
Dividends on common stock	-2,477	0	0	0	0	-2,477
Balance at Mar. 31, 2014	$262,467	$71	$85,235	$1,150,465	($1,212)	($972,092)
Balance (in shares) at Mar. 31, 2014	71,409,485	71,409,485	'	'	'	'

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Operating Activities:	'	'
Net income (loss)	($501)	$395,177
Adjustments to net cash provided by operating activities:	'	'
Depreciation and amortization	3,385	771
Amortization of acquired leases to rental revenue	142	-18
Amortization of deferred costs	429	122
Amortization of discount and other fees	-367	-9,084
Straight-line rent adjustment	-816	-183
Non-cash impairment charges	0	7,641
Distribution from joint ventures	2,734	0
Net realized gain on sale of joint venture to director related entity	0	-1,317
Gain on derivative instruments	-115	0
Net realized gain on disposal of Gramercy Finance	0	-389,140
Equity in net (income) loss of joint ventures	-628	1,992
Stock-based compensation	622	412
Changes in operating assets and liabilities:	'	'
Restricted cash	-276	-941
Tenant and other receivables	-1,701	-1,068
Accrued interest	-66	5,914
Other assets	-296	12,309
Payment of capitalized tenant leasing costs	-26	-2
Accounts payable, accrued expenses and other liabilities	-1,421	-4,750
Deferred revenue	769	956
Net cash provided by operating activities	1,868	18,791
Investing Activities:	'	'
Capital expenditures and leasehold costs	-7,382	-346
Distribution received from joint ventures property sales	1,069	0
Proceeds from disposal of Gramercy Finance	0	6,291
Proceeds from sale of joint venture to director related entity	0	8,275
Principal collections on investments	0	34,947
Proceeds from repayments of servicing advances receivable	6	0
Investment in joint ventures	0	103
Acquisition of real estate	-3,636	-44,320
Net cash provided by (used for) investing activities	-9,943	4,950
Financing Activities:	'	'
Repayment of collateralized debt obligations	0	-85,929
Repayment of secured credit facility	-45,000	0
Proceeds from issuance of exchangeable senior notes	115,000	0
Costs related to issuance of exchangeable senior notes	-3,738	0
Payment of deferred financing costs	-1,218	0
Repayment of mortgage notes payable	-483	0
Net proceeds from sale of common stock	-53	0
Dividends Paid	-37,878	0
Proceeds from sale of repurchased bonds	0	34,381
Change in restricted cash from financing activities	0	22,948
Net cash provided by (used for) financing activities	26,630	-28,600
Net increase (decrease) in cash and cash equivalents	18,555	-4,859
Cash and cash equivalents at beginning of period	43,333	105,402
Cash and cash equivalents at end of period	61,888	100,543
Non-cash activity:	'	'
Debt assumed in acquisition of real estate	2,657	0
Supplemental cash flow disclosures:	'	'
Interest paid	1,472	16,533
Income taxes paid	$1,192	$7

Business_and_Organization

Business and Organization	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	1. Business and Organization
	Gramercy Property Trust Inc., or the Company, is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages commercial real estate assets for third parties, including the Company’s Bank of America Portfolio joint venture.
	The Company was founded in 2004 as a specialty finance Real Estate Investment Trust, or REIT, focused on originating and acquiring loans and securities related to commercial and multifamily properties. In July 2012, following a strategic review, the Company’s board of directors announced a repositioning of the Company as an equity REIT focused on acquiring and managing income producing net leased real estate. To reflect this transformation, in April 2013 the Company changed its name from Gramercy Capital Corp. to Gramercy Property Trust Inc. and changed its ticker symbol to GPT on the New York Stock Exchange.
	The Company seeks to acquire and manage a diversified portfolio of high quality net leased properties that generates stable, predictable cash flows and protects investor capital over a long investment horizon. The Company expects that these properties generally will be leased to a single tenant. Under a net lease, the tenant typically bears the responsibility for all property related expenses such as real estate taxes, insurance, and repair and maintenance costs. This lease structure provides an owner cash flows over the term of the lease that are more stable and predictable than other forms of leases, and minimizes the ongoing capital expenditures often required with other property types.
	The Company approaches the net leased market as a value investor, looking to identify and acquire net leased properties that offer attractive risk adjusted returns throughout market cycles. The Company focuses primarily on industrial and office properties in major markets where strong demographic and economic growth offer a higher probability of producing long term rent growth and/or capital appreciation.
	As of March 31, 2014, the Company owns, either directly or in joint ventures, a portfolio of 105 net leased industrial and office properties with 99% occupancy. Tenants include Bank of America, N.A, Kar Auction Services, E.F. Transit, Amcor Rigid Plastics USA, Preferred Freezer Services of Hialeah LLC and others. As of that date, the Company’s asset management business, which operates under the name Gramercy Asset Management, manages approximately $1.4 billion of commercial real estate assets for third parties.
	During the three months ended March 31, 2014, the Company acquired one property aggregating 115,472 square feet for a total purchase price of approximately $6,300.
	The Company has elected to be taxed as a real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended, or the Internal Revenue Code, and generally will not be subject to U.S. federal income taxes to the extent it distributes its taxable income, if any, to its stockholders. The Company has in the past established, and may in the future establish taxable REIT subsidiaries, or TRSs, to effect various taxable transactions. Those TRSs would incur U.S. federal, state and local taxes on the taxable income from their activities.
	The Company conducts substantially all of its operations through its operating partnership, GPT Property Trust LP, or the Operating Partnership. The Company is the sole general partner of its Operating Partnership. The Company’s Operating Partnership conducts its commercial real estate investment business through various wholly-owned entities and its realty management business primarily through a wholly-owned TRS.
	On March 15, 2013, the Company disposed of its Gramercy Finance segment and exited the commercial real estate finance business. The disposal was completed pursuant to a purchase and sale agreement to transfer the collateral management and subspecial servicing agreements for the Company’s three Collateralized Debt Obligations, CDO 2005-1, CDO 2006-1 and CDO 2007-1, or the CDOs, to CWCapital Investments LLC, or CWCapital, for $6,291, in cash after expenses. The Company retained its non-investment grade subordinate bonds, preferred shares and ordinary shares, or the Retained CDO Bonds, which may provide the Company with the potential to recoup additional proceeds over the remaining life of the CDOs based upon resolution of underlying assets within the CDOs. In addition, the Company expects to receive additional cash proceeds for past CDO servicing advances including accrued interest at the prime rate of 3.25%, when specific assets within the CDOs are liquidated. On March 15, 2013, the Company deconsolidated the assets and liabilities of Gramercy Finance from the Company’s Condensed Consolidated Financial Statements and recognized a gain on the disposal of $389,140 within discontinued operations. For a further discussion regarding the disposal of the Gramercy Finance segment see Note 3, “Dispositions and Assets Held-for-Sale.”

Significant_Accounting_Policie

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	2. Significant Accounting Policies
	Reclassification
	Certain prior year balances have been reclassified to conform with the current year presentation for assets classified as discontinued operations. Certain reclassifications were made to the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) and footnote disclosures for all periods presented to reflect held-for-sale and discontinued operations as of March 31, 2014.
	Principles of Consolidation
	The Condensed Consolidated Financial Statements include the Company’s accounts and those of the Company’s subsidiaries which are wholly-owned or controlled by the Company, or entities which are variable interest entities, or VIEs, in which the Company is the primary beneficiary. The primary beneficiary is the party that absorbs a majority of the VIE’s anticipated losses and/or a majority of the expected returns. The Company has evaluated its investments for potential classification as variable interests by evaluating the sufficiency of each entity’s equity investment at risk to absorb losses. On March 15, 2013, the Company de-consolidated its three CDOs, which were previously consolidated.
	Entities which the Company does not control and are considered VIEs, but where the Company is not the primary beneficiary, are accounted for under the equity method. All significant intercompany balances and transactions have been eliminated.
	Real Estate Investments
	The Company records acquired real estate investments as business combinations when the real estate is occupied, at least in part, at acquisition. Costs directly related to the acquisition of such investments are expensed as incurred. The Company allocates the purchase price of real estate to land, building, improvements and intangibles, such as the value of above- and below-market leases and origination costs associated with the in-place leases at the acquisition date. The values of the above- and below-market leases are amortized and recorded as either an increase in the case of below-market leases or a decrease in the case of above-market leases to rental revenue over the remaining term of the associated lease. The values associated with in-place leases are amortized to depreciation and amortization expense over the remaining term of the associated lease.
	The Company assesses the fair value of the leases at acquisition based upon estimated cash flow projections that utilize appropriate discount and available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property. To the extent acquired leases contain fixed rate renewal options that are below-market and determined to be material, the Company amortizes such below-market lease value into rental revenue over the renewal period.
	Acquired real estate investments that do not meet the definition of a business combination are recorded at cost. Acquired real estate investments which are under construction are considered build-to-suit transactions and are also recorded at cost. In build-to-suit transactions, the Company engages a developer to construct a property or provide funds to a tenant to develop a property. The Company capitalizes the funds provided to the developer/tenant and the internal costs of interest and real estate taxes, if applicable, during the construction period.
	Certain improvements are capitalized when they are determined to increase the useful life of the building. Depreciation is computed using the straight-line method over the shorter of the estimated useful life at acquisition of the capitalized item or 40 years for buildings, five to ten years for building equipment and fixtures, and the lesser of the useful life or the remaining lease term for tenant improvements and leasehold interests. Maintenance and repair expenditures are charged to expense as incurred.
	In leasing space, the Company may provide funding to the lessee through a tenant allowance. In accounting for tenant allowances, the Company determines whether the allowance represents funding for the construction of leasehold improvements and evaluates the ownership of such improvements. If the Company is considered the owner of the leasehold improvements, the Company capitalizes the amount of the tenant allowance and depreciates it over the shorter of the useful life of the leasehold improvements or the lease term. If the tenant allowance represents a payment for a purpose other than funding leasehold improvements, or in the event the Company is not considered the owner of the improvements for accounting purposes, the allowance is considered to be a lease incentive and is recognized over the lease term as a reduction of rental revenue. Factors considered during this evaluation usually include (i) who holds legal title to the improvements, (ii) evidentiary requirements concerning the spending of the tenant allowance, and (iii) other controlling rights provided by the lease agreement (e.g. unilateral control of the tenant space during the build-out process). Determination of the accounting for a tenant allowance is made on a case-by-case basis, considering the facts and circumstances of the individual tenant lease.
	The Company also reviews the recoverability of the property’s carrying value when circumstances indicate a possible impairment of the value of a property. The review of recoverability is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as changes in strategy resulting in an increased or decreased holding period, expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If management determines impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used and for assets held for sale, an impairment loss is recorded to the extent that the carrying value exceeds the fair value less estimated cost to dispose. These assessments are recorded as an impairment loss in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) in the period the determination is made. The estimated fair value of the asset becomes its new cost basis. For a depreciable long-lived asset to be held and used, the new cost basis will be depreciated or amortized over the remaining useful life of that asset.
	The Company did not record any impairment charges during the three months ended March 31, 2014 and 2013.
	Investments in Joint Ventures
	The Company accounts for its investments in joint ventures under the equity method of accounting since it exercises significant influence, but does not unilaterally control the entities, and is not considered to be the primary beneficiary. In the joint ventures, the rights of the other investors are protective and participating. Unless the Company is determined to be the primary beneficiary, these rights preclude it from consolidating the investments. The investments are recorded initially at cost as an investment in joint ventures, and subsequently are adjusted for equity interest in net income (loss) and cash contributions and distributions. The amount of the investments on the Condensed Consolidated Balance Sheets is evaluated for impairment at each reporting period. None of the joint venture debt is recourse to the Company. As of March 31, 2014 and December 31, 2013, the Company had equity investments of $36,210 and $39,385 in unconsolidated joint ventures, respectively.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents.
	Restricted Cash
	The Company has restricted cash of $455 and $179 at March 31, 2014 and December 31, 2013, respectively, which includes cash held in escrow in connection with property acquisitions and reserves for certain capital improvements, leasing, interest and real estate tax and insurance payments as required by certain mortgage loan obligations.
	Variable Interest Entities
	The Company had no consolidated VIEs as of March 31, 2014 or December 31, 2013. The following is a summary of the Company’s involvement with unconsolidated VIEs as of March 31, 2014:
			Company carrying			Company carrying			Face value of		Face value of liabilities
			value-assets			value-liabilities			assets held by the VIEs		issued by the VIEs
	Assets
	Unconsolidated VIEs
	Retained CDO Bonds		$	7,471		$	-		$	1,943,810	$	1,758,716
	The following is a summary of the Company’s involvement with unconsolidated VIEs as of December 31, 2013:
			Company carrying			Company carrying			Face value of		Face value of liabilities
			value-assets			value-liabilities			assets held by the VIEs		issued by the VIEs
	Assets
	Unconsolidated VIEs
	Retained CDO Bonds		$	6,762		$	-		$	2,156,218	$	1,948,901
	Consolidated VIEs
	Collateralized Debt Obligations
	On March 15, 2013, as a result of the disposal of the Gramercy Finance segment as more fully described in Note 1, the Company deconsolidated three VIEs, the CDOs. The Company was the collateral manager of the three CDOs and in its capacity as collateral manager the Company made decisions related to the collateral that most significantly impacted the economic outcome of the CDOs, which was the basis upon which the Company concluded that it was the primary beneficiary of the CDOs prior to the Company’s disposal of the Gramercy Finance segment. In connection with the disposal of Gramercy Finance, the Company transferred the collateral management and sub-special servicing agreements for its three CDOs to CWCapital, thereby removing the Company as the collateral manager and its ability to make any and all decisions related to the collateral, including those that would most significantly impact the economic outcome of the CDOs. As of March 15, 2013, the Company had no continuing involvement with the collateral to the CDOs, and as a result, the Company determined that it was no longer the primary beneficiary of the CDOs, and therefore deconsolidated the CDOs.
	Unconsolidated VIEs
	Investment in Retained CDO Bonds
	On March 15, 2013, the Company recognized an asset in Retained CDO Bonds, which represents the subordinate and equity interests in the CDOs, in connection with the disposal of the Gramercy Finance segment. The Company is not obligated to provide any financial support to these CDOs. The Company’s maximum exposure to loss is limited to its interest in the Retained CDO Bonds and the Company does not control the activities that most significantly impact the VIEs’ economic performance.
	Assets Held for Sale
	As of March 31, 2014 and December 31, 2013, the Company had no assets classified as held for sale. Real estate investments to be disposed of are reported at the lower of carrying amount or estimated fair value, less costs to sell. Once an asset is classified as held-for-sale, depreciation expense is no longer recorded and current and prior periods are reclassified as discontinued operations.
	Tenant and Other Receivables
	Tenant and other receivables are derived from management fees, rental revenue and tenant reimbursements.
	Management fees, including incentive management fees, are recognized as earned in accordance with the terms of the management agreements. The management agreements may contain provisions for fees related to dispositions, administration of the assets including fees related to accounting, valuation and legal services, and management of capital improvements or projects on the underlying assets.
	Rental revenue is recorded on a straight-line basis over the initial term of the lease. Since many leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that will only be received if the tenant makes all rent payments required through the expiration of the initial term of the lease. Tenant and other receivables also include receivables related to tenant reimbursements for common area maintenance expenses and certain other recoverable expenses that are recognized as revenue in the period in which the related expenses are incurred.
	Tenant and other receivables are recorded net of the allowances for doubtful accounts, which as of March 31, 2014 and December 31, 2013 were $311 and $449, respectively. The Company continually reviews receivables related to rent, tenant reimbursements, management fees, including incentive fees, and unbilled rent receivables and determines collectability by taking into consideration the tenant or asset management clients’ payment history, the financial condition of the tenant or asset management client, business conditions in the industry in which the tenant or asset management client operates and economic conditions in the area in which the property or asset management client is located. In the event that the collectability of a receivable is in doubt, the Company increases the allowance for doubtful accounts or records a direct write-off of the receivable.
	Servicing Advances Receivable
	Servicing advances receivable is comprised of the accrual for the reimbursement of servicing advances recognized as part of the disposal of Gramercy Finance in March 2013. The accrual for reimbursement of servicing advances incurred while the Company was the collateral manager of the CDOs includes expenses such as legal fees incurred to negotiate modifications and foreclosures on loan investments, professional fees incurred on certain loans, or fees for services such as appraisals obtained on real estate properties that served as collateral for loan investments. These reimbursement proceeds will be realized when the related assets within the CDOs are liquidated in accordance with the terms of the collateral management and sub-special servicing agreements, which were sold in connection with the disposal of Gramercy Finance. The Company has no control over the timing of the resolution of the related assets, however, the Company earns accrued interest at the prime rate for the time that these reimbursements are outstanding. For the three months ended March 31, 2014 and March 31, 2013, the Company received $6 and $0 of reimbursements, respectively. As of March 31, 2014 and December 31, 2013, the servicing advances receivable is $8,818 and $8,758, respectively.
	The Company reviews the servicing advances receivable on a quarterly basis and determines collectability by reviewing the expected resolution and timing of the underlying assets of the CDOs. As of March 31, 2014, the Company has reviewed the outstanding servicing advances and has determined that all amounts are collectible.
	Retained CDO Bonds
	The Retained CDO Bonds are non-investment grade subordinate bonds, preferred shares and ordinary shares of three CDOs, which the Company retained subsequent to the disposal of Gramercy Finance. The Company considers these investments to be not of high credit quality and does not expect a full recovery of interest and principal. Therefore, the Company has suspended interest income accruals on these investments. On a quarterly basis, the Company evaluates the Retained CDO Bonds to determine whether significant changes in estimated cash flows or unrealized losses on these investments, if any, reflect a decline in value which is other-than-temporary. If there is a decrease in estimated cash flows and the investment is in an unrealized loss position, the Company will record an other-than-temporary impairment in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). To determine the component of the other-than-temporary impairment related to expected credit losses, the Company compares the amortized cost basis of the Retained CDO Bonds to the present value of the revised expected cash flows, discounted using the pre-impairment yield. Conversely, if the security is in an unrealized gain position and there is a decrease or significant increase in expected cash flows, the Company will prospectively adjust the yield using the effective yield method.
	For the three months ended March 31, 2014, the Company did not recognize any other-than-temporary impairment on its Retained CDO Bonds. The Company’s Retained CDO Bonds have been in an unrealized loss position for less than twelve months. A summary of the Company’s Retained CDO Bonds as of March 31, 2014 is as follows:
	Description		Number of			Face Value			Amortized		Gross Unrealized		Other-than-		Fair Value		Weighted
			Securities						Cost		Gain (Loss)		temporary				Average
	Available for Sale, Non-investment Grade:
	Retained CDO Bonds			9		$	358,880		$	8,356	$	-885	$	-	$	7,471		5.3 years
	Total			9		$	358,880		$	8,356	$	-885	$	-	$	7,471		5.3 years
	The following table summarizes the activity related to credit losses on the Retained CDO Bonds for the three months ended March 31, 2014:
	Balance as of December 31, 2013 of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income		$	2,002
	Additions to credit losses:
	On Retained CDO Bonds for which an OTTI was not previously recognized			-
	On Retained CDO Bonds for which an OTTI was previously recognized and a portion of an other-than-temporary impairment was recognized in other comprehensive income			-
	On Retained CDO Bonds for which an OTTI was previously recognized without any portion of other-than-temporary impairment recognized in other comprehensive income			-
Reduction for credit losses:			-
On Retained CDO Bonds for which no other-than-temporary impairment was recognized in other comprehensive income at current measurement date			-
On Retained CDO Bonds sold during the period			-
On Retained CDO Bonds charged off during the period			-
For increases in cash flows expected to be collected that are recognized over the remaining life of the Retained CDO Bonds			-
Balance as of March 31, 2014 of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income		$	2,002
Intangible Assets and Liabilities
The Company follows the acquisition method of accounting for business combinations. The Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets acquired based on their respective fair values. Tangible assets include land, buildings and improvements on an as-if vacant basis. The Company utilizes various estimates, processes and information to determine the as-if vacant property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analyses and other methods. Identifiable intangible assets include amounts allocated to acquired leases for above- and below-market lease rates and the value of in-place leases. Management also considers information obtained about each property as a result of its pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets and liabilities acquired.
Above-market and below-market lease values for properties acquired are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between the contractual amount to be paid pursuant to each in-place lease and management’s estimate of the fair market lease rate for each such in-place lease, measured over a period equal to the remaining non-cancelable term of the lease. The above-market lease values are amortized as a reduction of rental revenue over the remaining non-cancelable terms of the respective leases. The below-market lease values are amortized as an increase to rental revenue over the initial term of the respective leases. If a tenant terminates its lease prior to its contractual expiration and no future rental payments will be received, any unamortized balance of the market lease intangibles will be written off to rental revenue.
The aggregate value of intangible assets related to in-place leases is primarily the difference between the property valued with existing in-place leases adjusted to market rental rates and the property valued as-if vacant. Factors considered by management in its analysis of the in-place lease intangibles include an estimate of carrying costs during the expected lease-up period for each property, taking into account current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the anticipated lease-up period, which is expected to average six months.
Management also estimates costs to execute similar leases including leasing commissions and other related expenses. The value of in-place leases is amortized to depreciation and amortization expense over the remaining non-cancelable term of the respective leases. In no event does the amortization period for intangible assets exceed the remaining depreciable life of the building. If a tenant terminates its lease prior to its contractual expiration and no future rental payments will be received, any unamortized balance of the in-place lease intangible will be written off to depreciation and amortization expense.
The Company recorded $756 and $95 of amortization of intangible assets as part of depreciation and amortization, including $0 and $3 within discontinued operations for the three months ended March 2014 and 2013, respectively. The Company recorded $142 and $10 of amortization of intangible assets and liabilities as a net increase to rental revenue, including $0 and $34 within discontinued operations for the three months ended March 31, 2014 and 2013, respectively.
Intangible assets and acquired lease obligations consist of the following:
		March 31,			December 31,
		2014			2013
Intangible assets:
In-place leases, net of accumulated amortization of $2,074 and $1,318		$	33,411		$	32,773
Above-market leases, net of accumulated amortization of $516 and $278			8,134			8,187
Total intangible assets		$	41,545		$	40,960
Intangible liabilities:
Below-market leases, net of accumulated amortization of $396 and $300		$	5,939		$	6,077
Total intangible liabilities		$	5,939		$	6,077
The following table provides the weighted-average amortization period as of March 31, 2014 for intangible assets and liabilities and the projected amortization expense for the next five years.
		Weighted-			April 1 to			2015		2016		2017		2018
		Average			Demember 31,
		Amortization			2014
		Period
In-place leases			12		$	2,329		$	3,105	$	3,105	$	3,105	$	3,105
Total to be included in depreciation and amortization expense					$	2,329		$	3,105	$	3,105	$	3,105	$	3,105
Above-market lease assets			10.2		$	657		$	876	$	876	$	876	$	876
Below-market lease liabilities			13.1			-368			-491		-491		-491		-491
Total to be included as a reduction to rental revenue					$	289		$	385	$	385	$	385	$	385
Deferred Costs
Deferred costs include deferred financing costs that represent commitment fees, legal and other third-party costs associated with obtaining commitments for financing which result in a closing of such financing. These costs are amortized over the terms of the respective agreements and the amortization is reflected as interest expense. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close.
The Company has deferred certain expenditures related to the leasing of certain properties. Direct costs of leasing are deferred and amortized over the terms of the underlying leases.
Other Assets
The Company makes payments for certain expenses such as insurance and property taxes in advance of the period in which it receives the benefit. These payments are classified as other assets and amortized over the respective period of benefit relating to the contractual arrangement. The Company also escrows deposits related to pending acquisitions and financing arrangements, as required by a seller or lender, respectively. Costs prepaid in connection with securing financing for a property are reclassified into deferred financing costs at the time the transaction is completed.
Other assets are also comprised of capitalized software costs related to software purchased for internal use. The costs are amortized into expense on a straight-line basis over the assets' estimated useful life, which is generally three years. As of March 31, 2014 and December 31, 2013, the Company had $1,155 and $705 of unamortized computer software costs, respectively. The Company recorded amortization expense of $108 and $0 on capitalized software costs during the three months ended March 31, 2014 and 2013, respectively.
The following table provides the weighted-average amortization period as of March 31, 2014 for capitalized software and the projected amortization expense for the next five years.
		Weighted-Average			April 1 to December			2015		2016		2017		2018
		Amortization Period			31, 2014
Capitalized software costs (1)			2.8		$	325		$	433	$	397	$	-	$	-
Total to be included in depreciation and amorization expense					$	325		$	433	$	397	$	-	$	-
	-1	The Company may capitalize additional costs incurred related to the purchase of internal use software during 2014.
Valuation of Financial Instruments
At December 31, 2013 and March 31, 2014, the Company measured financial instruments, including Retained CDO Bonds and derivative instruments on a recurring basis.
ASC 820-10, “Fair Value Measurements and Disclosures,” among other things, establishes a hierarchical disclosure framework associated with the level of pricing observability utilized in measuring financial instruments at fair value. Considerable judgment is necessary to interpret market data and develop estimated fair values. Accordingly, fair values are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. Financial instruments with readily available actively quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of pricing observability and will require a lesser degree of judgment to be utilized in measuring fair value. Conversely, financial instruments rarely traded or not quoted will generally have less, or no, pricing observability and will require a higher degree of judgment to be utilized in measuring fair value. Pricing observability is generally affected by such items as the type of financial instrument, whether the financial instrument is new to the market and not yet established, the characteristics specific to the transaction and overall market conditions. The use of different market assumptions and/or estimation methodologies may have a material effect on estimated fair value amounts.
Fair value is defined as 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, or an exit price. The level of pricing observability generally correlates to the degree of judgment utilized in measuring the fair value of financial instruments.
The three broad levels defined are as follows:
Level I  — This level is comprised of financial instruments that have quoted prices that are available in active markets for identical assets or liabilities. The types of financial instruments included in this category are highly liquid instruments with actively quoted prices.
Level II  — This level is comprised of financial instruments that have pricing inputs other than quoted prices in active markets that are either directly or indirectly observable. The nature of these financial instruments includes instruments for which quoted prices are available but traded less frequently and instruments that are fair valued using other financial instruments, the parameters of which can be directly observed.
Level III  — This level is comprised of financial instruments that have little to no pricing observability as of the reported date. These financial instruments do not have active markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment and assumptions. Instruments that are generally included in this category are derivatives, whole loans, subordinate interests in whole loans and mezzanine loans.
For a further discussion regarding the measurement of financial instruments see Note 9, “Fair Value of Financial Instruments.”
Revenue Recognition
Real Estate Investments
Rental revenue from leases is recognized on a straight-line basis regardless of when payments are contractually due. Certain lease agreements also contain provisions that require tenants to reimburse the Company for real estate taxes, common area maintenance costs and the amortized cost of capital expenditures with interest. Such amounts are included in both revenues and operating expenses when the Company is the primary obligor for these expenses and assumes the risks and rewards of a principal under these arrangements. Under leases where the tenant pays these expenses directly, such amounts are not included in revenues or expenses.
Deferred revenue represents rental revenue and management fees received prior to the date earned. Deferred revenue also includes rental payments received in excess of rental revenues recognized as a result of straight-line basis accounting.
Other income includes fees paid by tenants to terminate their leases, which are recognized when fees due are determinable, no further actions or services are required to be performed by the Company, and collectability is reasonably assured. In the event of early termination, the unrecoverable net book values of the assets or liabilities related to the terminated lease are recognized as depreciation and amortization expense in the period of termination.
The Company recognizes sales of real estate properties only upon closing. Payments received from purchasers prior to closing are recorded as deposits. Profit on real estate sold is recognized using the full accrual method upon closing when the collectability of the sale price is reasonably assured and the Company is not obligated to perform significant activities after the sale. Profit may be deferred in whole or part until the sale meets the requirements of profit recognition on sale of real estate.
Asset Management Business
The management agreements may contain provisions for fees related to dispositions, administration of the assets including fees related to accounting, valuation and legal services, and management of capital improvements or projects on the underlying assets.
Certain of the Company’s asset management contracts include provisions that may allow it to earn additional fees, generally described as incentive fees or profit participation interests, based on the achievement of a targeted valuation of the managed assets or the achievement of a certain internal rate of return on the managed assets. The Company recognizes incentive fees on its asset management contracts based upon the amount that would be due pursuant to the contract, if the contract were terminated at the reporting date. If the contact may be terminated at will, revenue will only be recognized to the amount that would be due pursuant to that termination. If the incentive fee is a fixed amount, only a proportionate share of revenue is recognized at the reporting date, with the remaining fees recognized on a straight-line basis over the measurement period. The values of incentive management fees are periodically evaluated by management.
In December 2013, the Company executed an Amended and Restated Asset Management Services Agreement, or Management Agreement, with an affiliate of KBS Real Estate Investment Trust, Inc., or KBS. The Management Agreement provides for a base management fee of $7,500 per year plus the reimbursement of certain administrative and property related expenses as provided therein. The term of the Management Agreement will continue to December 31, 2016 (with a one year extension option exercisable by KBS), unless earlier terminated as therein provided, and also provides incentive fees in the form of profit participation ranging from 10% – 30% of incentive profits earned on sales.
Prior to December 1, 2013, the Company provided KBS asset management services for a base management fee of $9,000 per year, reimbursement of all property related expenses, and an incentive fee.
For the three months ended March 31, 2014 and 2013, the Company recognized incentive fees of $635 and $287, respectively.
Rent Expense
Rent expense is recognized on a straight-line basis regardless of when payments are due. Accounts payable and accrued expenses in the accompanying Condensed Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013 and includes an accrual for rental expense recognized in excess of amounts due at that time. Rent expense related to leasehold interests is included in property operating expenses, and rent expense related to office rentals is included in management, general and administrative expense.
Stock-Based Compensation Plans
The Company has a stock-based compensation plan, described more fully in Note 11. The Company accounts for this plan using the fair value recognition provisions. The Company uses the Black-Scholes option-pricing model to estimate the fair value of a stock option award. This model requires inputs such as expected term, expected volatility, and risk-free interest rate. Further, the forfeiture rate also impacts the amount of aggregate compensation cost. These inputs are highly subjective and generally require significant analysis and judgment to develop.
Compensation cost for stock options, if any, is recognized ratably over the vesting period of the award. The Company’s policy is to grant options with an exercise price equal to the quoted closing market price of its stock on the business day preceding the grant date. Awards of stock or restricted stock are expensed as compensation over the benefit period. For the three months ended March 31, 2014 and 2013, basic EPS was determined by dividing net income allocable to common stockholders for the applicable period by the weighted-average number of shares of common stock outstanding during such period. Net income during the applicable period is also allocated to the time-based unvested restricted stock as these grants are entitled to receive dividends and are therefore considered a participating security. Time-based unvested restricted stock is not allocated net losses and/or any excess of dividends declared over net income; such amounts are allocated entirely to the common stockholders other than the holders of time-based unvested restricted stock. As of March 31, 2014, and December 31, 2013, the Company had 596,445 and 678,784 weighted-average unvested restricted shares outstanding.
The fair value of each stock option granted is estimated on the date of grant for options issued to employees, and quarterly awards to non-employees, using the Black-Scholes option pricing model with the following weighted average assumptions for grants in 2014 and 2013.
		2014				2013
Dividend yield			2.5	%			5.5	%
Expected life of option			5.0 years				5.0 years
Risk-free interest rate			1.81	%			0.72	%
Expected stock price volatility			41	%			53	%
Derivative Instruments
In the normal course of business, the Company is exposed to the effect of interest rate changes and limits these risks by following established risk management policies and procedures including the use of derivatives. The Company uses a variety of derivative instruments to manage, or hedge, interest rate risk. The Company requires that hedging derivative instruments be effective in reducing the interest rate risk exposure that they are designated to hedge. This effectiveness is essential for qualifying for hedge accounting. Instruments that meet these hedging criteria are formally designated as hedges at the inception of the derivative contract. The Company uses a variety of commonly used derivative products that are considered “plain vanilla” derivatives. These derivatives typically include interest rate swaps, caps, collars and floors. The Company expressly prohibits the use of unconventional derivative instruments and using derivative instruments for trading or speculative purposes. Further, the Company has a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors.
The Company may from time to time use derivative instruments in connection with the private placement of equity. In March 2014, the Company issued Exchangeable Senior Notes, which are exchangeable, under certain circumstances, for cash, for shares of the Company’s common stock or for a combination of cash and shares of the Company’s common stock, in accordance with the terms of the Notes, as described in Note 6. The embedded exchange option value of the Notes is recorded as a derivative at March 31, 2014, pursuant to NYSE share-settlement limitations. The exchange option value is not a hedging instrument. In October 2013, the Company entered into contingent value rights agreements, or CVR agreements, with the share purchasers. Pursuant to each CVR Agreement, the Company issued to each purchaser the number of contingent value rights, or CVRs, equal to the number of common stock purchased. The CVRs were not designated as hedge instruments. The CVRs did not qualify, nor did the Company intend for these instruments to qualify, as hedging instruments. On March 25, 2014, the CVR agreements expired with no value.
Derivatives that are not hedges must be adjusted to fair value through income. If a derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset, liability or firm commitment through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. Derivative accounting may increase or decrease reported net income and stockholders’ equity prospectively, depending on future levels of LIBOR, swap spreads and other variables affecting the fair values of derivative instruments and hedged items, but will have no effect on cash flows, provided the contract is carried through to full term.
All hedges held by the Company are deemed effective based upon the hedging objectives established by the Company’s corporate policy governing interest rate risk management. The effect of the Company’s derivative instruments on its financial statements is discussed more fully in Note 10.
Income Taxes
The Company elected to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code, beginning with its taxable year ended December 31, 2004. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income, to stockholders. As a REIT, the Company generally will not be subject to U.S. federal income tax on taxable income that the Company distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will then be subject to U.S. federal income taxes on taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distributions to stockholders. However, the Company believes that it will be organized and operate in such a manner as to qualify for treatment as a REIT and the Company intends to operate in the foreseeable future in such a manner so that it will qualify as a REIT for U.S. federal income tax purposes. The Company is subject to certain state and local taxes. The Company’s TRSs are subject to federal, state and local taxes.
For the three months ended March 31, 2014 and 2013, the Company recorded $369 and $2,920 of income tax expense, including $0 and $2,515 within discontinued operations, respectively. Tax expense for each year is comprised of federal, state and local taxes. Income taxes, primarily related to the Company’s TRSs, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided if the Company believes it is more likely than not that all or a portion of a deferred tax asset will not be realized. Any increase or decrease in a valuation allowance is included in the tax provision when such a change occurs.
The Company’s policy for interest and penalties, if any, on material uncertain tax positions recognized in the financial statements is to classify these as interest expense and operating expense, respectively. As of March 31, 2014 and 2013, the Company did not incur any material interest or penalties.
Earnings Per Share
The Company presents both basic and diluted earnings per share, or EPS. Basic EPS excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, as long as their inclusion would not be anti-dilutive. The conversion of Exchangeable Senior Notes was not included in the computation of diluted earnings per share because the conversion is anti-dilutive.
Concentrations of Credit Risk
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash investments, debt investments and accounts receivable. The Company places its cash investments in excess of insured amounts with high quality financial institutions.
One asset management client, KBS, accounted for 67% and 68% of the Company’s management fee income for the three months ended March 31, 2014 and 2013, respectively. One tenant accounted for 19% and 46% of the Company’s rental revenue for the three months ended March 31, 2014 and 2013, respectively.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Recently Issued Accounting Pronouncements
In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which revises the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have, or will have, a major effect on an entity's operations and financial results, removing the lack of continuing involvement criteria and requiring discontinued operations reporting for the disposal of an equity method investment that meets the definition of discontinued operations. This guidance also requires expanded disclosures for discontinued operations, including disclosure of pretax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. The update is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2014. As permitted, the Company has elected to early adopt the updated standard, however the adoption did not impact the Company’s Financial Statements as the Company does not have any qualifying disposals or assets held-for-sale for the three months ended March 31, 2014.

Dispositions_and_Assets_Heldfo

Dispositions and Assets Held-for-Sale	3 Months Ended
	Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	'
	3. Dispositions and Assets Held-for-Sale
	The Company did not classify any assets as held-for-sale as of March 31, 2014.
	The following operating results for Gramercy Finance and the assets previously sold for the three months ended March 31, 2014 and 2013 are included in discontinued operations for all periods presented:
			Three Months Ended March 31,
			2014		2013
	Operating Results:
	Revenues		$	15	$	33,516
	Operating expenses			-		-3,548
	Marketing, general and administrative			-101		-1,260
	Interest expense			-		-14,653
	Depreciation and amortization			-		-15
	Loans held for sale and CMBS OTTI			-		-7,641
	Expense reimbursements (1)			-		5,406
	Equity in net income from joint venture			-		-804
	Net income (loss) from operations			-86		11,001
	Gain on sale of joint venture interests to a director related entity			-		1,317
	Net gains from disposals			-		389,140
	Provision for taxes			-		-2,515
	Net income from discontinued operations		$	-86	$	398,943
		-1	In the three months ended March 31, 2013, the Company received reimbursements for enforcement costs of $5,406 incurred on the behalf of a pari-passu lender for one loan held by the CDOs, which the Company incurred in prior years. The Company fully reserved for these costs when incurred due to the uncertainty of recovery.
	Discontinued operations have not been segregated in the Condensed Consolidated Statements of Cash Flows.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2014
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	4. Acquisitions
	During the three months ended March 31, 2014, the Company’s property acquisitions are summarized as follows:
	Property Type		Number of		Number of		Square Feet			Purchase Price	Weighted-average
			Properties		Buildings						Remaining Lease Term (1)
	Industrial (2)			1		1		115,472	$	6,300		11.59
	Total			1		1		115,472	$	6,300		11.59
		-1	Weighted-average lease term is based upon the remaining non-cancelable lease term as of March 31, 2014. The weighted-average calculation is based upon square footage.
		-2	The Company assumed a mortgage on its property acquisition in 2014. The unpaid principal value of the mortgage assumed at acquisition was $2,664. Refer to Note 6 for more information on the Company’s debt obligations related to acquisitions.
	During the year ended December 31, 2013, the Company’s property acquisitions are summarized as follows:
	Property Type		Number of		Number of		Square Feet		Purchase Price		Weighted-average
			Properties		Buildings						Remaining Lease Term (1)
	Industrial (2), (3)			23		25		3,683,184	$	261,416		11.14
	Office/Banking Center			3		3		48,709		7,120		8.45
	Specialty Asset (3)			3		7		255,738		72,250		13.87
	Total			29		35		3,987,631	$	340,786		11.28
		-1	Weighted-average lease term is based upon the remaining non-cancelable lease term as of December 31, 2013. The weighted-average calculation is based upon square footage.
		-2	The industrial properties line includes a build-to-suit property located in Hialeah Gardens, Florida, which represents a commitment to construct an approximately 118,000 square foot cold storage facility which will be 100% leased for an initial term of 25 years when completed. The facility is currently being constructed. The Company acquired the land for the property with a $4,990 zero-coupon mortgage note payable to the seller. Total costs are expected to be approximately $25,000, of which the unfunded amounts were estimated to be $10,217 at March 31, 2014.
		-3	The Company assumed mortgages on two of its property acquisitions in 2013, one of which was on an industrial property and one of which was on a specialty asset. The unpaid principal value of the mortgages assumed at acquisition was $48,899. Refer to Note 6 for more information on the Company’s debt obligations related to acquisitions.
	The Company is currently analyzing the fair value of the lease and real estate assets of its one property investment acquired in 2014; and accordingly, the purchase price allocation is preliminary and subject to change. The initial recording of the assets included $5,015 of net real estate assets, $1,395 of intangible assets and $116 of intangible liabilities.
	The Company analyzed the fair value of the leases and real estate assets of seven of its property investments acquired in 2013; and, accordingly, the purchase price allocation is finalized. The current allocation of the assets includes $57,407 of net real estate assets, $10,762 of intangible assets and $3,520 of intangible liabilities. The Company is currently analyzing the fair value of the lease and real estate assets of its remaining twenty-two property investments acquired in 2013; and accordingly, the purchase price allocation is preliminary and subject to change. The initial recording of the assets included $248,977 of net real estate assets, $27,550 of intangible assets and $2,236 of intangible liabilities.
	The Company recorded revenues and net income for the three months ended March 31, 2014 of $56 and $10  respectively, related to the acquisition during the period. The Company recorded revenues and net income for the year ended December 31, 2013 of $10,724 and $1,525, respectively, related to the acquisitions during the period.
	Pro Forma
	The following table summarizes, on an unaudited pro forma basis, the Company’s combined results of operations for the three months ended March 31, 2014 and 2013 as though the acquisitions were completed on January 1, 2013. The supplemental pro forma operating data is not necessarily indicative of what the actual results of operations would have been assuming the transaction had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods.
			2014		2013
	Pro forma revenues		$	15,649	$	16,476
	Pro forma net income (loss) available to common stockholders		$	-2,282	$	396,460
	Pro forma earnings per common share-basic		$	-0.03	$	6.76
	Pro forma earnings per common share-diluted		$	-0.03	$	6.76
	Pro forma common shares-basic			70,763,959		58,678,078
	Pro forma common share-diluted			70,763,959		58,678,078

Investments_in_Joint_Ventures

Investments in Joint Ventures	3 Months Ended
	Mar. 31, 2013
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]	'
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	'
	5. Investments in Joint Ventures
	Bank of America Portfolio
	The Company owns a 50% interest in a joint venture, or the Joint Venture, of a portfolio of 72 properties, or the Bank of America Portfolio, located across the United States totaling approximately 3,150,000 rentable square feet and 96% leased to Bank of America, N.A., under a master lease with expiration dates through 2023, with a total portfolio occupancy of approximately 97%. The portfolio is encumbered with a $200,000 floating rate, interest-only mortgage note maturing in 2014, collateralized by 67 properties of the portfolio. The mortgage note has three one-year extension options subject to satisfaction of certain terms and conditions. The remaining five properties are unencumbered and classified as held-for-sale. During the three months ended March 31, 2014 and 2013, the Joint Venture sold three and five properties for net proceeds of $2,138 and $9,849, respectively. In May 2013, the Joint Venture sold a defeased mortgage and the corresponding pool of pledged treasury securities, and recorded a gain of $4,578. At March 31, 2014 and December 31, 2013, the investment had a carrying value of $36,210 and $39,385, and for the three months ended March 31, 2014 and 2013, the Company recorded its pro rata share of net income (loss) of the joint venture of $525 and ($1,218), respectively. During the three months ended March 31, 2014 and 2013, the Company received distributions of $3,700 and $1,250 from the Joint Venture, respectively. The joint venture analyzed the fair value of the leases and real estate assets in the Bank of America portfolio; and, accordingly, the purchase price allocation was finalized as of December 31, 2013. The final allocation of the assets included $460,012 of net real estate assets, $58,172 of intangible assets and $50,963 of intangible liabilities.
	Philips Building
	The Company owns a 25% interest in the equity owner of a fee interest in 200 Franklin Square Drive, a 200,000 square foot building located in Somerset, New Jersey which is 100% net leased to Philips Holdings, USA Inc., a wholly-owned subsidiary of Royal Philips Electronics through December 2021. As of March 31, 2014 and December 31, 2013, the investment has a carrying value of $0. The Company recorded its pro rata share of net income of the joint venture of $103 and $30 for the three months ended March 31, 2014 and 2013, respectively. During the three months ended March 31, 2014 and 2013, the Company received distributions of $103 and $103 from the joint venture, respectively.
	The Condensed Consolidated Balance Sheets for the Company’s joint ventures at March 31, 2014 and December 31, 2013 are as follows:
			March 31,		December 31,
			2014		2013
	Assets:
	Real estate assets, net		$	300,756	$	305,798
	Other assets			104,501		100,560
	Total assets		$	405,257	$	406,358
	Liabilities and members' equity:
	Mortgages payable		$	241,000	$	241,000
	Other liabilities			89,916		84,608
	Members' equity			74,341		80,750
	Liabilities and members' equity		$	405,257	$	406,358
	The Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the joint ventures for the three months ended March 31, 2014 and 2013 or partial period for acquisitions or dispositions which closed during these periods, are as follows:
			Three months ended March 31,
			2014		2013
	Revenues		$	16,892	$	19,256
	Operating expenses			8,167		9,738
	Interest (1)			2,790		6,931
	Depreciation			4,540		4,895
	Total expenses			15,497		21,564
	Net income (loss) from operations			1,395		-2,308
	Net gain (loss) on disposals			-221		-
	Net income (loss)		$	1,174	$	-2,308
	Company's equity in net income (loss) within continuing operations		$	628	$	-1,188
	Company's equity in net income (loss) within discontinued operations		$	-	$	-804
		-1	The Bank of America Portfolio net loss includes a net loss of $0 and $2,048 for the three months ended March 31, 2014 and 2013, respectively, from a defeased mortgage acquired as part of the joint venture’s acquisition. The pool of treasury securities which defeased the mortgage loan generate sufficient cash flows to cover the debt service requirements, but do not generate income to offset the corresponding cash flows and interest expense.

Debt_Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	6. Debt Obligations
	Secured Debt
	Certain real estate assets are subject to mortgage liens. The following is a summary of the Company’s secured financing arrangements as of March 31, 2014:
			Encumbered		Balance		Interest Rate		Weighted-average Effective			Weighted-average
			Properties						Interest Rate			Maturity Date
	Fixed-rate mortgages			8	$	106,549	0.00% to 6.95%			4.83%		June 2014 to June 2029
	Variable-rate mortgages (1), (2)			1		16,005	1 Month LIBOR + 2.10%			2.29%		Dec-20
	Secured credit facility (1)			20		-	1 Month LIBOR + 1.90%			2.06%		Sep-15
	Total secured financings			29	$	122,554
	Above(below) market interest					1,787
	Balance at March 31, 2014			29	$	124,341
		-1	All of the Company’s variable-rate financings are monthly LIBOR plus a fixed spread.
		-2	This mortgage is hedged by an interest rate swap which has a maturity date of December 2020. Refer to Note 1 for further information on hedging and the Company’s derivative instruments.
	The Company is party to a Credit and Guaranty Agreement with Deutsche Bank Securities, Inc., the lead arranger and bookrunner, and Deutsche Bank AG New York Branch, the administrative agent, for a $100,000 senior secured revolving credit facility, which was effective September 4, 2013 and then amended and restated on September 24, 2013, or the Credit Facility. In February 2014, the Company exercised the $50,000 accordion feature, which increased its borrowing capacity to $150,000. The maturity date of the revolving credit facility is September 2015, with one 12-month extension option exercisable by the Company, subject, among other things, to there being an absence of an event of default under the Credit Facility and to the payment of an extension fee. The Credit Facility is guaranteed by Gramercy Property Trust Inc. and certain subsidiaries and is secured by first priority mortgages on designated properties, or the Borrowing Base. Outstanding borrowings under the Credit Facility are limited to the lesser of (i) the sum of the $100,000 revolving commitment and the maximum $50,000 commitment increase available or (ii) 60.0% of the value of the Borrowing Base. Interest on advances made on the Credit Facility, will be incurred at a floating rate based upon, at the Company’s option, either (i) LIBOR plus the applicable LIBOR margin, or (ii) the applicable base rate which is the greater of the Prime Rate, 0.50% above the Federal Funds Rate, or 30-day LIBOR plus 1.00%. The applicable LIBOR margin will range from 1.90% to 2.75%, depending on the ratio of the Company's outstanding consolidated indebtedness to the value of the Company’s consolidated gross assets. The Credit Facility has an initial borrowing rate of LIBOR plus 1.90%. The Credit Facility includes a series of financial and other covenants that the Company must comply with in order to borrow under the facility. The Company was in compliance with the covenants under the Credit Facility at March 31, 2014. As of March 31, 2014, there were no borrowings outstanding under the Credit Facility and 20 properties were in the borrowing base.
	On February 18, 2014, the Company assumed a non-recourse mortgage loan with a face value of $2,664 and a fair value of $2,657 at the acquisition of a 115,472 square foot industrial property, which served as collateral for the loan. The property is 100% leased through October 2025. The loan bears interest at a fixed annual rate of 5.25% and matures in October 2020.
	During the three months ended March 31, 2014 and 2013, the Company capitalized $39 and $0, respectively of interest associated with redevelopment activities.
	Exchangeable Senior Notes
	On March 18, 2014, the Company issued $115,000 of 3.75% Exchangeable Senior Notes, or the Notes. The Notes are senior unsecured obligations of the Operating Partnership and are guaranteed by the Company on a senior unsecured basis. The Notes mature on March 15, 2019, unless redeemed, repurchased or exchanged in accordance with their terms prior to such date. The fair value of the Notes was determined at issuance to be $109,032, and thus the fair value of the embedded exchange option was determined to be $5,968. The discount is being amortized to interest expense over the expected life of the Notes. As of March 31, 2014, the carrying value of the Notes was $109,055. The Notes will be exchangeable, under certain circumstances, for cash, for shares of the Company’s common stock or for a combination of cash and shares of the Company’s common stock, at the Operating Partnership's election. The Notes will also be exchangeable prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date, at any time beginning on December 15, 2018, and also upon the occurrence of certain events. Unless and until the Company obtains stockholder approval to share-settle up to 100% of the Notes, the number of shares of the Company’s common stock that holders will be eligible to receive upon exchange of the Notes will be limited to 19.99% of the Company’s common stock outstanding on the exchangeable debt issuance date in accordance with the listing standards of the New York Stock Exchange. Unless and until such stockholder approval is obtained, the Operating Partnership will be deemed to have elected combination settlement with a specified dollar amount per $1,000 principal amount of Notes of at least $1,000 for all Notes submitted for exchange, which means the Operating Partnership will be obligated to settle its exchange obligation by paying up to the specified dollar amount with respect to such Notes in cash and delivering shares of the Company’s common stock for any exchange value in excess of such specified dollar amount. On or after March 20, 2017, in certain circumstances, the Operating Partnership may redeem all or part of the Notes for cash at a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
	The Notes have initial exchange rate of 161.1863 shares of the Company’s common stock per $1,000 principal amount of the Notes, representing an exchange price of approximately $6.20 per share of the Company’s common stock and an exchange premium of approximately 20% based on the last reported sale price of $5.17 per share of the Company’s common stock on March 18, 2014.
	Due to the NYSE related limitation on the use of share-settlement for the full exchange option, which does not permit issuance of more than 19.99% or more of a Company’s common stock outstanding without shareholder approval for issuances above this threshold, the embedded exchange option in the Notes does not qualify for equity classification. Instead, it is separately valued and accounted for as a derivative liability. As the notes were issued at par in an arms-length transaction, the $5,968 debt discount noted above, which represents the value of the Notes’ conversion options, is recorded as a derivative liability on the balance sheet.
	As of March 31, 2014, nine of the Company’s real estate investments were encumbered with mortgage notes with a cumulative outstanding balance of $124,341 and the Company’s secured revolving line of credit had an outstanding balance of $0. Combined aggregate principal maturities of the Company's mortgage notes, credit facility, and exchangeable senior notes, in addition to associated interest payments, as of March 31, 2014 are as follows:
			Credit Facility		Mortgage Notes Payable		Exchangeable Senior			Interest Payments (1)		Total
							Notes
	April 1 through December 31, 2014		$	-	$	7,018	$	-		$	6,303	$	13,321
	2015			-		2,822		-			9,694		12,516
	2016			-		2,956		-			9,554		12,510
	2017			-		3,109		-			9,392		12,501
	2018			-		16,054		-			9,017		25,071
	Thereafter			-		90,595		115,000			20,662		226,257
	Above / Below Market Interest (2)			-		-		-			-4,158		-4,158
	Total		$	-	$	122,554	$	115,000		$	60,464	$	298,018
		-1	Interest payment amounts represent interest payments due to holders of the exchangeable senior notes in addition to the monthly interest payments due on the mortgage notes payable.
		-2	Above / below market interest includes the discount on the exchangeable senior notes as well as the premium on the mortgage notes payable, both net of amortization.

Leasing_Agreements

Leasing Agreements	3 Months Ended
	Mar. 31, 2014
Leases, Operating [Abstract]	'
Operating Lease Expense [Text Block]	'
	7. Leasing Agreements
	The Company’s properties are leased to tenants under operating leases with expiration dates extending through the year 2032. These leases generally contain rent increases and renewal options.
	Future minimum rental revenue under non-cancelable leases excluding reimbursements for operating expenses as of March 31, 2014 are as follows:
		Operating Leases
	April 1 through December 31, 2014	$	22,459
	2015		30,892
	2016		31,197
	2017		31,554
	2018		32,099
	Thereafter		288,358
	Total minimum lease rental income	$	436,559

Transactions_with_Director_Rel

Transactions with Director Related Entities	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	8. Transactions with Director Related Entities
	The Chief Executive Officer of SL Green Realty Corp. (NYSE: SLG), or SL Green, is one of the Company’s directors.
	In June 2013, the Company signed a lease agreement with 521 Fifth Fee Owner LLC, an affiliate of SL Green, for new corporate office space located at 521 Fifth Avenue, 30th Floor, New York, New York. The lease commenced in September 2013, following the completion of certain improvements to the space. The lease is for approximately 6,580 square feet and carries a term of 10 years with rents of approximately $373 per annum for year one rising to $463 per annum in year ten. The Company paid $92 and $0 under the lease for the three months ended March 31, 2014 and 2013, respectively.
	From May 2005 through September 2013, the Company was party to a lease agreement with SLG Graybar Sublease LLC, an affiliate of SL Green, for the Company’s previous corporate offices at 420 Lexington Avenue, New York, New York. In April 2013, the Company gave notice that it was cancelling the lease for its corporate offices at 420 Lexington Avenue. The lease agreement with SLG Graybar Sublease LLC was terminated in September 2013. The Company paid $0 and $118 under the lease for the three months ended March 31, 2014 and 2013, respectively.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	9. Fair Value of Financial Instruments
	The Company discloses fair value information about financial instruments, whether or not recognized in the statement of financial condition, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based upon the application of discount rates to estimated future cash flows based upon market yields or by using other valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, fair values are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on estimated fair value amounts.
	In connection with the Company’s disposal of Gramercy Finance and the subsequent exit from the commercial real estate finance business, more fully described in Note 3, “Dispositions and Assets Held for Sale.” for the three months ended March 31, 2013, the Company recorded impairment charges of $882 on its loan investments, CMBS investments, and real estate held by the CDOs as a result of the reclassification of all loan investments and real estate held by the CDOs as held-for-sale and the inability to express the intent to hold impaired CMBS investments until amortized cost is recovered. In connection with the disposal of Gramercy Finance, the Company also recorded recurring and non-recurring fair value measurements as of the date of disposal for certain financial instruments before derecognition.
	The following table presents the carrying value in the financial statements, and approximate fair value of financial instruments at March 31, 2014 and December 31, 2013:
			March 31, 2014					December 31, 2013
			Carrying Value		Fair Value			Carrying Value		Fair Value
	Financial assets:
	Retained CDO Bonds (1), (2)		$	7,471	$	7,471		$	6,762	$	6,762
	Financial liabilities:
	Derivative instruments (5)		$	6,296	$	6,296		$	187	$	187
	Mortgage notes payable (1)		$	124,341	$	124,785		$	122,180	$	123,349
	Contingent value rights (3)		$	-	$	-		$	115	$	115
	Exchangeable senior notes (4)		$	109,055	$	109,055		$	-	$	-
		-1	Mortgages notes payable and Retained CDO Bonds are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions.
		-2	Retained CDO Bonds represent the CDOs’ subordinate bonds, preferred shares, and ordinary shares, which were retained subsequent to the disposal of Gramercy Finance and were previously eliminated in consolidation.
		-3	Pursuant to the Company’s private placement of equity, the Company entered into contingent value right agreements, or CVR agreements, with purchasers of the Company’s common stock. The CVR agreements entitled each purchaser to cash payment contingent on the Company’s stock price, as follows: On April 1, 2014, the purchasers are entitled to cash payment of (a) the number of their contingent values rights multiplied by (b) the amount, not to exceed $0.46, equal to the difference between the share price at time of purchase, $4.11, and the volume-weighted average price for the time trading days ending on and including March 25, 2014. The CVR agreements expired on March 25, 2014 with no value.
		-4	The Company issued $115,000 of 3.75% Exchangeable Senior Notes, which are senior unsecured obligations guaranteed by the Company on a senior unsecured basis. The Notes are carried at their fair value, which was determined based a discounted cash flows valuation, using discount rates that best reflect current market rates for unsecured financing with similar characteristics. The Notes are classified as Level III. Refer to Note 6 for more information.
		-5	Derivative instruments include the $5,968 embedded exchange option related to the 3.75% Exchangeable Senior Notes as well as $328 related to the interest rate swaps.
	The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate the value:
	Cash and cash equivalents, accrued interest, and accounts payable :  These balances in the Condensed Consolidated Financial Statements reasonably approximate their fair values due to the short maturities of these items.
	Derivative instruments :  The Company’s derivative instruments, which are primarily comprised of interest rate caps and interest rate swap agreements, are carried at fair value in the Condensed Consolidated Financial Statements based upon third-party valuations. As noted above, embedded exchange option in the Company’s 3.75% Exchangeable Senior Notes is also included as a derivative liability.
	Retained CDO Bonds :  Non-investment grade, subordinate CDO bonds, preferred shares and ordinary shares are presented on the Condensed Consolidated Financial Statements at fair value. The fair value is determined by an internally developed discounted cash flow model.
	Mortgage notes payable :  These obligations are presented in the Condensed Consolidated Financial Statements based on the actual balance outstanding and not at fair value. The fair value was estimated using discounted cash flows methodology, using discount rates that best reflect current market rates for financing with similar characteristics and credit quality.
	Contingent value rights :  The Company’s contingent value rights are presented at fair value on the Condensed Consolidated Financial Statements based upon valuation using the Black Scholes model.
	Exchangeable senior notes :  The Company’s exchangeable senior notes, are bifurcated between their debt and embedded exchange option components. The components are presented separately and include the fair value as a debt component and the embedded exchange option as a derivative liability component in their respective lines within the debt section on the Condensed Consolidated Financial Statements, with the debt component presented at fair value upon issuance and the derivative value presented as the amount of total proceeds from the note offering reduced by the fair value of the debt component at issuance. The fair value of the debt component was estimated using discounted cash flows methodology, using discount rates that best reflect current market rates for unsecured financing with similar characteristics. The derivative component represents the original discount on the debt issued as a result of the exchange rights.
	Disclosure about fair value of financial instruments is based on pertinent information available to the Company at March 31, 2014 and December 31, 2013. Although the Company is not aware of any factors that would significantly affect the reasonable fair value amounts, such amounts have not been comprehensively revalued for the purpose of these financial statements since March 31, 2014 and December 31, 2013, and current estimates of fair value may differ significantly from the amounts presented herein.
	The following discussion of fair value was determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, fair values are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. Financial instruments with readily available actively quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of pricing observability and a lower degree of judgment utilized in measuring fair value. Conversely, financial instruments rarely traded or not quoted will generally have less, or no, pricing observability and a higher degree of judgment utilized in measuring fair value. The use of different market assumptions and/or estimation methodologies may have a material effect on estimated fair value amounts. Determining which category an asset or liability falls within the hierarchy requires significant judgment and the Company evaluates its hierarchy disclosures each quarter.
	Fair Value on a Recurring Basis
	Assets and liabilities measured at fair value on a recurring basis are categorized in the table below based upon the lowest level of significant input to the valuations.
	At March 31, 2014		Total		Level I			Level II		Level III
	Financial Assets:
	Retained CDO Bonds:
	Non-investment grade, subordinate CDO bonds		$	7,471	$	-		$	-	$	7,471
			$	7,471	$	-		$	-	$	7,471
	Financial Liabilities:
	Derivative instruments:
	Interest rate swaps		$	328	$	-		$	-	$	328
	Embedded conversion option of the 3.75% Exchangeable Senior Notes			5,968		-			-		5,968
			$	6,296	$	-		$	-	$	6,296
	At December 31, 2013		Total		Level I			Level II		Level III
	Financial Assets:
	Retained CDO Bonds:
	Non-investment grade, subordinate CDO bonds		$	6,762	$	-		$	-	$	6,762
			$	6,762	$	-		$	-	$	6,762
	Financial Liabilities:
	Derivative instruments:
	Interest rate swaps		$	187	$	-		$	-	$	187
	Contingent value rights			115		-			-		115
			$	302	$	-		$	-	$	302
	Derivative instruments :  Interest rate caps and swaps were valued with the assistance of a third-party derivative specialist, who uses a combination of observable market-based inputs, such as interest rate curves, and unobservable inputs which require significant judgment such as the credit valuation adjustments due to the risk of non-performance by both the Company and its counterparties. The fair value of derivatives classified as Level III are most sensitive to the credit valuation adjustment as all or a portion of the credit valuation adjustment may be reversed or otherwise adjusted in future periods in the event of changes in the credit risk of the Company or its counterparties. Fair values of our derivative instruments, such as our CVR investments, are determined using a Black-Scholes model.
	Total losses or (gains) from derivatives for the three months ended March 31, 2014 were $141 in accumulated other comprehensive income (loss). Total losses or (gains) from derivatives for the period ended March 15, 2013 were $10,100 in accumulated other comprehensive income (loss) and then subsequently on the date of the disposal, the Company reclassified the amounts out of accumulated other comprehensive income (loss) and derecognized the derivative instruments. During the three months ended March 31, 2014, the Company entered into no new interest rate cap or swap agreements.
	Retained CDO Bonds :  Retained CDO Bonds are valued on a recurring basis using an internally developed discounted cash flow model. Management estimates the timing and amount of cash flows expected to be collected and applies a discount rate equal to the yield that the Company would expect to pay for similar securities with similar risks at the valuation date. Future expected cash flows generated by management require significant assumptions and judgment regarding the expected resolution of the underlying collateral, which includes loans and other lending investments, real estate investments, and CMBS. The resolution of the underlying collateral requires further management assumptions regarding capitalization rates, lease-up periods, future occupancy rates, market rental rates, holding periods, capital improvements, net property operating income, timing of workouts and recoveries, loan loss severities and other factors. The models are most sensitive to the unobservable inputs such as the timing of a loan default or property sale and the severity of loan losses. Significant increases (decreases) in any of those inputs in isolation as well as any change in the expected timing of those inputs would result in a significantly lower (higher) fair value measurement. Due to the inherent uncertainty in the determination of fair value, the Company has designated its Retained CDO Bonds as Level III.
	Quantitative information regarding the valuation techniques and the range of significant unobservable Level III inputs used to determine fair value measurements on a recurring basis as of March 31, 2014 are:
			At March 31, 2014
	Financial Asset or Liability		Fair Value		Valuation Technique		Unobservable Inputs		Range
	Non-investment grade, subordinate CDO bonds		$	7,471	Discounted cash flows		Discount rate		25.00% to 40.00%
	Interest rate swaps		$	328	Hypothetical derivative method		Credit borrowing spread		150 to 250 basis points
	Embedded conversion option of the 3.75% Exchangeable Senior Notes		$	5,968	Discounted cash flows		Discount rate		5.00%
	The following table reconciles the beginning and ending balances of financial assets measured at fair value on a recurring basis using Level III inputs:
			Retained
			CDO Bonds
	Balance as of December 31, 2013		$	6,762
	Amortization of discounts or premiums			375
Adjustments to fair value:
Included in other comprehensive income			334
Other-than-temporary impairments			-
Balance as of March 31, 2014		$	7,471
The following roll forward table reconciles the beginning and ending balances of financial liabilities measured at fair value on a recurring basis using Level III inputs:
		Derivative
		Instruments
Balance as of December 31, 2013		$	302
Adjustments to fair value:
Unrealized loss			141
Embedded conversion option of the 3.75% exchangeable senior notes			5,968
Expiration of Contingent Value Rights			-115
Balance as of March 31, 2014		$	6,296
Fair Value on a Non-Recurring Basis
The Company did not measure any of its financial instruments on a non-recurring basis as of March 31, 2014 or December 31, 2013.

Derivative_Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2014
Derivative Instrument Detail [Abstract]	'
Derivative Instruments and Hedging Activities Disclosure [Text Block]	'
	10. Derivative Instruments
	The Company recognizes all derivatives on the balance sheet at fair value. Derivatives that are not hedges must be adjusted to fair value through income. If a derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset, liability or firm commitment through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. Derivative accounting may increase or decrease reported net income and stockholders’ equity prospectively, depending on future levels of LIBOR interest rates and other variables affecting the fair values of derivative instruments and hedged items, but will have no effect on cash flows, provided the contract is carried through to full term.
	The following table summarizes the notional and fair value of the Company’s derivative financial instruments at March 31, 2014. The notional value is an indication of the extent of the Company’s involvement in this instrument at that time, but does not represent exposure to credit, interest rate or market risks:
		Benchmark Rate	Notional		Strike			Effective	Expiration	Fair
			Value		Rate			Date	Date	Value
	Assets of Non-VIEs:
	Interest rate swap	1 mo. USD-LIBOR-BBA	$	16,005		4.55	%	12/19/13	12/19/20	$	-328
	Interest rate cap	1 mo. USD-LIBOR-BBA		24,000		5	%	7/19/11	8/9/14		-
	Embedded conversion option of the 3.75% exchangeable senior notes	N/A		N/A		N/A		3/18/14	3/15/19		-5,968
	Total derivatives			40,005							-6,296
	The Company is hedging exposure to variability in future interest payments on its debt facilities. At March 31, 2014, derivative instruments were reported at their fair value as a net liability of $6,296. At December 31, 2013, derivative instruments were reported at their fair value as a net liability of $173,450 within discontinued operations. Over time, the realized and unrealized gains and losses held in Accumulated Other Comprehensive Income will be reclassified into earnings in the same periods in which the hedged interest payments affect earnings.
	As described in Note 6 and Note 9, the embedded exchange option value of the Company’s 3.75% Exchangeable Senior Notes is recorded as a derivative liability due to an NYSE related limitation on the use of share-settlement for the full exchange option without shareholder approval, which prevents it from qualifying for equity classification as of March 31, 2014. Thus, this component, which represents the original discount on the debt issued as a result of the exchange rights and approximates the fair value of the option feature, is included within derivative liabilities as of March 31, 2014. See Note 6 and Note 9 for further information.

Stockholders_Equity_Deficit

Stockholders' Equity (Deficit)	3 Months Ended
	Mar. 31, 2014
Stockholders Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	11. Stockholders’ Equity (Deficit)
	The Company’s authorized capital stock consists of 200,000,000 shares, $0.001 par value per share, of which the Company is authorized to issue up to 150,000,000 shares of common stock, $0.001 par value per share, 25,000,000 shares of preferred stock, par value $0.001 per share and 25,000,000 shares of excess stock, $0.001 par value per share. As of March 31, 2014, 71,409,485 shares of common stock, 3,525,822 shares of preferred stock and no shares of excess stock were issued and outstanding, respectively.
	In March 2014, the Company’s board of directors authorized and the Company declared a dividend of $0.035 per common share for the first quarter of 2014, to be paid on April 15, 2014 to holders of record as of March 31, 2014.
	In October 2013, the Company entered into a common stock purchase agreement and related joinder agreements, for the private placement of 11,535,200 shares of common stock at a price of $4.11 per share, raising gross proceeds of $47,410. The purchasers of the Company’s stock issued in the private placement agreed not to offer, sell, contract to sell, pledge or otherwise dispose of the common stock purchased until March 25, 2014, without consent of the Company, with certain exceptions if the Company issued common stock or securities exchangeable into common stock during the period. The shares of common stock sold in the private placement were offered and sold pursuant to an exemption from the registration requirements under Rule 506 of Regulation D promulgated under the Securities Act of 1933. The purchasers were accredited investors as defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933. Morgan Stanley & Co. LLC acted as the placement agent in connection with the private placement. Pursuant to the private placement, the Company entered into contingent value rights agreements, or CVR Agreements, with purchasers of the Company’s stock, which are described in further detail in Note 10. The CVR agreements expired on March 25, 2014 with no value.
	Preferred Stock
	For the period from the fourth quarter of 2008 through the third quarter of 2013, the Company’s board of directors elected not to pay the quarterly Series A preferred stock dividends of $0.50781 per share. In December 2013, the Company’s board of directors authorized and declared a “catch-up” dividend in the amount of $10.23524 per share of its 8.125% Series A Cumulative Redeemable Preferred Stock, representing all accrued and unpaid dividends on the Series A Preferred Stock for the period October 1, 2008, through and including October 14, 2013. In December 2013, the Company’s board of directors also authorized and declared a Series A Preferred Stock quarterly dividend payment in the amount of $0.50781 per share, for the period October 15, 2013, through and including January 14, 2014. Both the accrued dividend and the quarterly dividend were paid to holders of the Series A Preferred Stock of record as of the close of business on December 31, 2013. The accrued dividend was paid on January 13, 2014, and the quarterly dividend was paid on January 15, 2014. As of March 31, 2014 and December 31, 2013, the Company accrued Series A Preferred Stock dividends of $1,512 and $37,600, respectively.
	Equity Incentive Plan
	As part of the Company’s initial public offering, the Company instituted its Equity Incentive Plan. The Equity Incentive Plan, as amended, authorizes (i) the grant of stock options that qualify as incentive stock options under Section 422 of the Internal Revenue Code, or ISOs, (ii) the grant of stock options that do not qualify, or NQSOs, (iii) the grant of stock options in lieu of cash directors’ fees and (iv) grants of shares of restricted and unrestricted common stock. The exercise price of stock options will be determined by the compensation committee, but may not be less than 100% of the fair market value of the shares of common stock on the date of grant. At March 31, 2014, 1,929,676 shares of common stock were available for issuance under the Equity Incentive Plan.
	Through March 31, 2014, 1,872,872 restricted shares had been issued under the Equity Incentive Plan, of which 87% have vested. Except for certain performance based awards, the vested and unvested shares are currently entitled to receive distributions on common stock if declared by the Company. Holders of restricted shares are prohibited from selling such shares until they vest but are provided the ability to vote such shares beginning on the date of grant. Compensation expense of $144 and $118 was recorded for the three months ended March 31, 2014 and 2013, respectively, related to the issuance of restricted shares. Compensation expense of $1,815 will be recorded over the course of the next 37 months representing the remaining weighted average vesting period of equity awards issued under the Equity Incentive Plan as of March 31, 2014.
	In March 2013, the Company granted to four senior officers of the Company pursuant to the Equity Incentive Plan a total of 115,000 time-based restricted stock awards and 345,000 performance-based restricted stock units. The time-based awards vest in five equal annual installments commencing December 15, 2013, subject to continued employment. Vesting of the performance-based units requires, in addition to continued employment over a 5-year period, achievement of absolute increases in either the Company’s stock price or an adjusted funds from operations (as defined by the Company’s compensation committee).
	The Company has granted senior officers equity awards pursuant to the Company’s 2012 Long-Term Outperformance Plan, or 2012 Outperformance Plan, in the form of LTIP units. LTIP units are a class of limited partnership interests in GPT Property Trust LP, the Company’s Operating Partnership, that are structured to quality as “profits interests” for federal income tax purposes and do not have full parity, on a per unit basis, with the Class A limited partnership interests in the Company or its operating partnership with respect to liquidating distributions.
	In July 2012, the Company adopted the 2012 Outperformance Plan in connection with the hiring of Gordon F. DuGan, Benjamin P. Harris, and Nicholas L. Pell, who joined the Company on July 1, 2012 as Chief Executive Officer, President and Managing Director, respectively, and granted equity awards to these new executives pursuant to the 2012 Outperformance Plan. The LTIP units had a fair value of $1,870 on the date of grant, which was calculated in accordance with ASC 718. The Company used a probabilistic valuation approach to estimate the inherent uncertainty that the LTIP units may have with respect to the Company’s common stock.
	In March 2013, the Company granted four senior officers equity awards pursuant to the Company’s 2012 Long-Term Outperformance Plan, or 2012 Outperformance Plan, in the form of LTIP units having an aggregate maximum value of $4,000, and a fair value of $845, which was calculated in accordance with ASC 718. The Company used a probabilistic valuation approach to estimate the inherent uncertainty that the LTIP units may have with respect to the Company’s common stock. The amount of LTIP units actually earned by the executives under the 2012 Outperformance Plan can range from 20% of the maximum amount if the Company’s common stock price equals a minimum hurdle of $5.00 per share (less any dividends paid during the performance period) to 100% of the maximum amount if the Company’s common stock price equals or exceeds $9.00 per share (less any dividends paid during the performance period) on a valuation date during the four-year performance period. The executives will not earn any LTIP units under the 2012 Outperformance Plan to the extent that the Company’s common stock price on each of the four valuation dates is less than the $5.00 per share minimum hurdle.
	During the performance period, which commenced on July 1, 2012 and ends on June 30, 2016, the executives may earn up to 12%, 24% and 36% of the maximum amount under the 2012 Outperformance Plan at the end of the first, second and third plan years, respectively, if the Company’s common stock price has equaled or exceeded the stock price hurdles as of the end of such years. If the minimum stock price hurdle is met as of the end of any such plan year, the actual amount earned will range on a sliding scale from 20% of the maximum amount that may be earned as of such date (at the minimum stock price hurdle) to 100% of the maximum amount that may be earned as of such date (at the maximum stock price hurdle). Any LTIP units earned under the 2012 Outperformance Plan will remain subject to vesting, with 50% of any LTIP units earned vesting on June 30, 2016 and the remaining 50% vesting on June 30, 2017 based, in each case, on continued employment through the vesting date.
	Compensation expense of $147 and $118 was recorded for the three months ended March 31, 2014 and 2013, respectively, for the 2012 Outperformance Plan. Compensation expense of $1,796 will be recorded over the course of the next 33 months, representing the remaining weighted average vesting period of the LTIP Units as of March 31, 2014.
	As of March 31, 2014, there were approximately 551,560 phantom stock units outstanding, of which 540,060 units are vested.
	Earnings per Share
	Earnings per share for the three months ended March 31, 2014 and 2013 are computed as follows:
		For the three months Ended March 31,
		2014		2013
	Numerator-Income (loss)
	Net income (loss) from continuing operations	$	-415	$	-3,766
	Net income (loss) from discontinued operations		-86		398,943
	Net Income (loss)		-501		395,177
	Preferred stock dividends		-1,790		-1,790
	Excess of carrying amount of tendered preferred stock over consideration paid		-		-
	Numerator for basic income per share - Net income (loss) available to common stockholders:		-2,291		393,387
	Effect of dilutive securities		-		-
	Diluted Earnings:
	Net income (loss) available to common stockholders	$	-2,291	$	393,387
	Denominator-Weighted Average shares:
	Weighted average shares outstanding		71,360,404		59,310,356
	Less: Unvested restricted shares		-596,445		-632,278
	Denominator for basic income per share		70,763,959		58,678,078
	Effect of dilutive securities
	LTIP		-		-
	Stock based compensation plans		-		-
	Phantom stock units		-		-
	Exchangeable senior notes		-		-
	Diluted shares	$	70,763,959	$	58,678,078
	Diluted income (loss) per share assumes the conversion of all common share equivalents into an equivalent number of common shares if the effect is not anti-dilutive. For the three months ended March 31, 2014, 65,145 share options, 551,560 phantom share units, and 14,274,756 exchangeable note shares were computed using the treasury share method, which due to the net loss from continuing operations were anti-dilutive. For the three months ended March 31, 2013, 40,073 share options and 490,637 phantom share units were computed using the treasury share method, which due to the net loss from continuing operations were anti-dilutive.
	Accumulated other comprehensive income
	Accumulated other comprehensive income as of March 31, 2014 and 2013 is comprised of the following:
		As of March 31,
		2014		2013
	Net realized and unrealized losses on interest rate swap and cap agreements accounted for as cash flow hedges	$	-141	$	-
	Net unrealized loss on available-for-sale securities		-		-
	Net unrealized gain on debt securities		334		-
	Total accumulated other comprehensive income	$	193	$	-
	The Company reclassified unrealized gains on CMBS of $107,774 for the period ended March 31, 2013 into net income as a component of the gain on disposal of Gramercy Finance on the Condensed Consolidated Statement of Operations and Comprehensive Income (Loss). The Company also reclassified the unamortized fair value of terminated swaps previously designated as cash flow hedges of $6,359 into net income as a component of the gain on disposal of Gramercy Finance on the Condensed Consolidated Statement of Operations and Comprehensive Income (Loss).

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	12. Commitments and Contingencies
	The Company is obligated under certain tenant leases, to construct the underlying leased property or fund tenant expansions. As of March 31, 2014, the Company had four outstanding commitments: (1) the construction of a 118,000 square foot cold storage facility located in Hialeah Gardens, Florida, of which the unfunded amounts were estimated to be $10,217; (2) the contribution of $1,500 towards tenant improvements on a warehouse/industrial property in Garland, Texas, of which the unfunded amounts were estimated to be $854; (3) the expansion of a property located in Olive Branch, Mississippi, whereby the tenant has a one-time option to expand the building by 250,000 square feet; and (4) the expansion of a property located in Logan Township, New Jersey, whereby the tenant has a one-time option to expand the building by 25,000 square feet. The tenants have not noticed the Company for the building expansion options and as such, no amounts are due and no unfunded amounts have been estimated.
	The Company’s corporate offices at 521 Fifth Avenue, 30th Floor, New York, New York are subject to an operating lease agreement with 521 Fifth Fee Owner, LLC, an affiliate of SL Green, effective as of September 2013. The lease is for approximately 6,580 square feet and carries a term of 10 years with rents of approximately $373 per annum for year one rising to $463 per annum in year ten.
	The Company’s previous corporate offices at 420 Lexington Avenue, New York, New York, were subject to an operating lease agreement with SLG Graybar Sublease LLC, an affiliate of SL Green, effective May 1, 2005, which was subsequently amended in May and June 2009 and in June 2012. In April 2013, the Company gave notice that it was cancelling the lease for the corporate offices at 420 Lexington Avenue effective in September 2013 concurrently with the commencement of the lease for the new corporate offices at 521 Fifth Avenue.
	The Company’s regional management office located at 610 Old York Road, Jenkintown, Pennsylvania, was subject to an operating lease with an affiliate of KBS. The lease was for approximately 19,000 square feet, and expired on April 30, 2014, with rents of approximately $322 per annum. The Company is subject to a new operating lease with an affiliate of KBS, effective May 1, 2014, for a regional management office located at 550 Blair Mill Road, Horsham, Pennsylvania. The lease is for approximately 13,000 square feet and expires on April 30, 2018, with rents of approximately $151 per annum for year one rising to $221 per annum in year four. The Company’s regional management office located at 800 Market Street, St. Louis, Missouri is subject to an operating lease with St. Louis BOA Plaza, LLC. The lease is for approximately 2,000 square feet and is subject to rents of $32 per annum. The lease had an expiration date of September 30, 2014 and was cancellable with 60 days’ notice. The Company elected the early cancellation option and, effective March 28, 2014, entered into a new lease at 130 South Bemiston Ave, Clayton Missouri. The lease commences on June 1, 2014 and expires on December 31, 2016, with a renewal option of 12 months. The lease is for approximately 1,100 square feet and is subject to rents of $21 per annum for year one, rising to $22 per annum in year three.
	In December 2010, the Company sold its 45% joint venture interest in the leased fee of the 2 Herald Square property in New York, New York, for approximately $25,600 plus assumed mortgage debt of approximately $86,100 or the 2 Herald Sale Transaction. Subsequent to the closing of the transaction, the New York City Department of Finance, or the NYC DOF, and New York State Department of Taxation, or the NYS DOT, issued notices of determination assessing, in the case of the NYC DOF notice, approximately $2,924 of real property transfer tax, plus interest, and, in the case of the NYS DOT notice, approximately $446 of real property transfer tax, plus interest, collectively, the Transfer Tax Assessments, against the Company in connection with the 2 Herald Sale Transaction. The Company believes that NYC DOF and NYS DOT erred in issuing the Transfer Tax Assessments and intends to vigorously defend against same. In September 2013, the Company filed a petition challenging the NYC DOF Transfer Tax Assessment with the New York City Tax Appeal Tribunal, and intends to timely file a similar petition challenging the NYS DOF Transfer Tax Assessment.
	In November 2013, NYC DOF filed an answer to the petition reiterating their position that the 2 Herald Sale Transaction was taxable by NYC DOF. In January and February 2014, the parties held a preliminary conference with the trial judge assigned the matter, agreed to discuss whether a settlement could be reached and subsequently determined that no such settlement was possible. The Company anticipates that its appeal of the NYC DOF Transfer Tax Assessment will be set for trial in mid-2014.
	An initial conciliation conference for the NYS DOT Transfer Tax Assessment was held in October 2013. In November 2013, the NYS DOT provided additional information in support of its position. In February 2014, following a discussion, the Company and the NYS DOT determined that the parties could not amicably settle the dispute. The Company expects that the conciliator will issue its determination shortly, following which the Company will formally file our petition challenging the NYS DOT Transfer Tax Assessment.
	The Company believes that it has strong defenses against the Transfer Tax Assessments and intends to continue to vigorously assert same. The Company evaluates contingencies based on information currently available, including the advice of counsel. The Company establishes accruals for litigation and claims when a loss contingency is considered probable and the related amount is reasonably estimable. The Company will periodically review these contingences and may adjust the amount of the accrual if circumstances change. The outcome of a contingent matter and the amount or range of potential losses at particular points may be difficult to ascertain. If a range of loss is estimated and an amount within such range appears to be a better estimate than any other amount within that range, then that amount is accrued. Considering the recent developments as discussed above, as of December 31, 2013, the Company established an accrual of approximately $4,339 for the Transfer Tax Assessments, which represents the full amount of the assessed tax plus estimated interest and penalties. There was $4,339 accrued and recorded in discontinued operations for the matter for the year ended December 31, 2013. There was $4,406 accrued and $67 of additional interest recorded in discontinued operations for the matter for the three months ended March 31, 2014.
	In addition, the Company and/or one or more of its subsidiaries is party to various litigation matters that are considered routine litigation incidental to its business, none of which are considered material.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	13. Income Taxes
	The Company has elected to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code beginning with its taxable year ended December 31, 2004. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income to stockholders. As a REIT, the Company generally will not be subject to U.S. federal income tax on taxable income that it distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will then be subject to U.S. federal income taxes on taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distributions to stockholders. However, the Company believes that it is organized and will operate in such a manner as to qualify for treatment as a REIT and the Company intends to operate in the foreseeable future in such a manner so that it will qualify as a REIT for U.S. federal income tax purposes. The Company may, however, be subject to certain state and local taxes. The Company’s TRSs are subject to federal, state and local taxes. The Company’s Asset and Property management business, Gramercy Asset Management, conducts its business through a wholly-owned TRS. Since the Company uses separate taxable REIT subsidiaries to conduct different aspects of its business, losses incurred by the individual TRSs are only available to offset taxable income derived by each respective TRS.
	For the three months ended March 31, 2014 and 2013, the Company recorded $369 and $2,920 of income tax expense, including $0 and $2,515 within discontinued operations, respectively. Tax expense for the three months ended March 31, 2014 and 2013 in continuing operations is comprised of federal, state and local taxes primarily attributable to Gramercy Asset Management. Tax expense for the three months ended March 31, 2013 included in discontinued operations is comprised of federal, state and local taxes attributable to the sale of the CDO management contracts to CWCapital.
	The Company’s policy for interest and penalties, if any, on material uncertain tax positions recognized in the financial statements is to classify these as interest expense and operating expense, respectively. As of March 31, 2014 and December 31, 2013, the Company did not incur any material interest or penalties.

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	14. Segment Reporting
	As of March 31, 2014, the Company has determined that it has two reportable operating segments: Asset Management and Investments/Corporate. On March 15, 2013, the Company disposed of its third reportable segment, Gramercy Finance, as more fully discussed in Note 1. The reportable segments are determined based upon the management approach, which looks to the Company’s internal organizational structure. The Company’s lines of business require different support infrastructures.
	The Investments/Corporate segment includes all of the Company’s activities related to net lease investments in markets across the United States. The Investments/Corporate segment generates revenues from rental revenues from properties owned by the Company.
	The Asset Management segment includes substantially all of the Company’s activities related to asset and property management services. The Asset Management segment generates revenues from fee income related to the management agreements for properties owned by third parties.
	The Company’s reportable operating segments are summarized as follows:
			Asset Management		Investments /		Total
					Corporate
	Three Months Ended March 31, 2014
	Total revenues		$	6,965	$	8,619	$	15,584
	Equity in net loss from unconsolidated joint ventures			-		628		628
	Total operating and interest expense (1)			-6,462		-10,165		-16,627
	Net income (loss) from continuing operations (2)		$	503	$	-918	$	-415
			Asset Management		Investments /		Total
					Corporate
	Three Months Ended March 31, 2013
	Total revenues		$	8,315	$	944	$	9,259
	Equity in net loss from unconsolidated joint ventures			-		-1,188		-1,188
	Total operating and interest expense (1)			-7,088		-4,749		-11,837
	Net income (loss) from continuing operations (2)		$	1,227	$	-4,993	$	-3,766
	Total Assets:
	31-Mar-14		$	10,365	$	515,100	$	525,465
	31-Dec-13		$	12,950	$	478,713	$	491,663
		-1	Total operating and interest expense includes operating costs on commercial property assets for the Investments segment and costs to perform required functions under the management agreement for the Asset Management segment. Depreciation and amortization of $3,385 and $337 and provision for taxes of $369 and $405 for the three months ended March 31, 2014 and 2013, respectively, are included in the amounts presented above.
		-2	Net income (loss) from continuing operations represents loss before discontinued operations.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	15. Subsequent Events
	On April 23, 2014, the Company closed on the acquisition of a 112,325 square foot, industrial property located in Elgin, Illinois in an all cash transaction for a purchase price of approximately $10,350. The property is 100% leased to one tenant through August 2028. The Company is currently analyzing the fair value of the leases and real estate assets and accordingly, the purchase price allocation is preliminary and subject to change.
	On May 1, 2014, the Company closed on the acquisition of a 183,200 square foot, industrial property located in Harrisburg, Pennsylvania in an all cash transaction for a purchase price of approximately $8,330. The property is 100% leased to one tenant with a lease term of approximately 11 years. The Company is currently analyzing the fair value of the leases and real estate assets and accordingly, the purchase price allocation is preliminary and subject to change.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Reclassification, Policy [Policy Text Block]	'
	Reclassification
	Certain prior year balances have been reclassified to conform with the current year presentation for assets classified as discontinued operations. Certain reclassifications were made to the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) and footnote disclosures for all periods presented to reflect held-for-sale and discontinued operations as of March 31, 2014.
Principles Of Consolidation [Policy Text Block]	'
	Principles of Consolidation
	The Condensed Consolidated Financial Statements include the Company’s accounts and those of the Company’s subsidiaries which are wholly-owned or controlled by the Company, or entities which are variable interest entities, or VIEs, in which the Company is the primary beneficiary. The primary beneficiary is the party that absorbs a majority of the VIE’s anticipated losses and/or a majority of the expected returns. The Company has evaluated its investments for potential classification as variable interests by evaluating the sufficiency of each entity’s equity investment at risk to absorb losses. On March 15, 2013, the Company de-consolidated its three CDOs, which were previously consolidated.
	Entities which the Company does not control and are considered VIEs, but where the Company is not the primary beneficiary, are accounted for under the equity method. All significant intercompany balances and transactions have been eliminated.
Real Estate and Ctl Investments [Policy Text Block]	'
	Real Estate Investments
	The Company records acquired real estate investments as business combinations when the real estate is occupied, at least in part, at acquisition. Costs directly related to the acquisition of such investments are expensed as incurred. The Company allocates the purchase price of real estate to land, building, improvements and intangibles, such as the value of above- and below-market leases and origination costs associated with the in-place leases at the acquisition date. The values of the above- and below-market leases are amortized and recorded as either an increase in the case of below-market leases or a decrease in the case of above-market leases to rental revenue over the remaining term of the associated lease. The values associated with in-place leases are amortized to depreciation and amortization expense over the remaining term of the associated lease.
	The Company assesses the fair value of the leases at acquisition based upon estimated cash flow projections that utilize appropriate discount and available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property. To the extent acquired leases contain fixed rate renewal options that are below-market and determined to be material, the Company amortizes such below-market lease value into rental revenue over the renewal period.
	Acquired real estate investments that do not meet the definition of a business combination are recorded at cost. Acquired real estate investments which are under construction are considered build-to-suit transactions and are also recorded at cost. In build-to-suit transactions, the Company engages a developer to construct a property or provide funds to a tenant to develop a property. The Company capitalizes the funds provided to the developer/tenant and the internal costs of interest and real estate taxes, if applicable, during the construction period.
	Certain improvements are capitalized when they are determined to increase the useful life of the building. Depreciation is computed using the straight-line method over the shorter of the estimated useful life at acquisition of the capitalized item or 40 years for buildings, five to ten years for building equipment and fixtures, and the lesser of the useful life or the remaining lease term for tenant improvements and leasehold interests. Maintenance and repair expenditures are charged to expense as incurred.
	In leasing space, the Company may provide funding to the lessee through a tenant allowance. In accounting for tenant allowances, the Company determines whether the allowance represents funding for the construction of leasehold improvements and evaluates the ownership of such improvements. If the Company is considered the owner of the leasehold improvements, the Company capitalizes the amount of the tenant allowance and depreciates it over the shorter of the useful life of the leasehold improvements or the lease term. If the tenant allowance represents a payment for a purpose other than funding leasehold improvements, or in the event the Company is not considered the owner of the improvements for accounting purposes, the allowance is considered to be a lease incentive and is recognized over the lease term as a reduction of rental revenue. Factors considered during this evaluation usually include (i) who holds legal title to the improvements, (ii) evidentiary requirements concerning the spending of the tenant allowance, and (iii) other controlling rights provided by the lease agreement (e.g. unilateral control of the tenant space during the build-out process). Determination of the accounting for a tenant allowance is made on a case-by-case basis, considering the facts and circumstances of the individual tenant lease.
	The Company also reviews the recoverability of the property’s carrying value when circumstances indicate a possible impairment of the value of a property. The review of recoverability is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as changes in strategy resulting in an increased or decreased holding period, expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If management determines impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used and for assets held for sale, an impairment loss is recorded to the extent that the carrying value exceeds the fair value less estimated cost to dispose. These assessments are recorded as an impairment loss in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) in the period the determination is made. The estimated fair value of the asset becomes its new cost basis. For a depreciable long-lived asset to be held and used, the new cost basis will be depreciated or amortized over the remaining useful life of that asset.
	The Company did not record any impairment charges during the three months ended March 31, 2014 and 2013.
Investments In Joint Ventures [Policy Text Block]	'
	Investments in Joint Ventures
	The Company accounts for its investments in joint ventures under the equity method of accounting since it exercises significant influence, but does not unilaterally control the entities, and is not considered to be the primary beneficiary. In the joint ventures, the rights of the other investors are protective and participating. Unless the Company is determined to be the primary beneficiary, these rights preclude it from consolidating the investments. The investments are recorded initially at cost as an investment in joint ventures, and subsequently are adjusted for equity interest in net income (loss) and cash contributions and distributions. The amount of the investments on the Condensed Consolidated Balance Sheets is evaluated for impairment at each reporting period. None of the joint venture debt is recourse to the Company. As of March 31, 2014 and December 31, 2013, the Company had equity investments of $36,210 and $39,385 in unconsolidated joint ventures, respectively.
Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents.
Restricted Cash [Policy Text Block]	'
	Restricted Cash
	The Company has restricted cash of $455 and $179 at March 31, 2014 and December 31, 2013, respectively, which includes cash held in escrow in connection with property acquisitions and reserves for certain capital improvements, leasing, interest and real estate tax and insurance payments as required by certain mortgage loan obligations.
Variable Interest Entities [Policy Text Block]	'
	Variable Interest Entities
	The Company had no consolidated VIEs as of March 31, 2014 or December 31, 2013. The following is a summary of the Company’s involvement with unconsolidated VIEs as of March 31, 2014:
			Company carrying			Company carrying			Face value of		Face value of liabilities
			value-assets			value-liabilities			assets held by the VIEs		issued by the VIEs
	Assets
	Unconsolidated VIEs
	Retained CDO Bonds		$	7,471		$	-		$	1,943,810	$	1,758,716
	The following is a summary of the Company’s involvement with unconsolidated VIEs as of December 31, 2013:
			Company carrying			Company carrying			Face value of		Face value of liabilities
			value-assets			value-liabilities			assets held by the VIEs		issued by the VIEs
	Assets
	Unconsolidated VIEs
	Retained CDO Bonds		$	6,762		$	-		$	2,156,218	$	1,948,901
Consolidated Vies [Policy Text Block]	'
	Consolidated VIEs
	Collateralized Debt Obligations
	On March 15, 2013, as a result of the disposal of the Gramercy Finance segment as more fully described in Note 1, the Company deconsolidated three VIEs, the CDOs. The Company was the collateral manager of the three CDOs and in its capacity as collateral manager the Company made decisions related to the collateral that most significantly impacted the economic outcome of the CDOs, which was the basis upon which the Company concluded that it was the primary beneficiary of the CDOs prior to the Company’s disposal of the Gramercy Finance segment. In connection with the disposal of Gramercy Finance, the Company transferred the collateral management and sub-special servicing agreements for its three CDOs to CWCapital, thereby removing the Company as the collateral manager and its ability to make any and all decisions related to the collateral, including those that would most significantly impact the economic outcome of the CDOs. As of March 15, 2013, the Company had no continuing involvement with the collateral to the CDOs, and as a result, the Company determined that it was no longer the primary beneficiary of the CDOs, and therefore deconsolidated the CDOs.
Unconsolidated Vies [Policy Text Block]	'
	Unconsolidated VIEs
	Investment in Retained CDO Bonds
	On March 15, 2013, the Company recognized an asset in Retained CDO Bonds, which represents the subordinate and equity interests in the CDOs, in connection with the disposal of the Gramercy Finance segment. The Company is not obligated to provide any financial support to these CDOs. The Company’s maximum exposure to loss is limited to its interest in the Retained CDO Bonds and the Company does not control the activities that most significantly impact the VIEs’ economic performance.
Assets Held For Sale [Policy Text Block]	'
	Assets Held for Sale
	As of March 31, 2014 and December 31, 2013, the Company had no assets classified as held for sale. Real estate investments to be disposed of are reported at the lower of carrying amount or estimated fair value, less costs to sell. Once an asset is classified as held-for-sale, depreciation expense is no longer recorded and current and prior periods are reclassified as discontinued operations.
Tenant and Other Receivables [Policy Text Block]	'
	Tenant and Other Receivables
	Tenant and other receivables are derived from management fees, rental revenue and tenant reimbursements.
	Management fees, including incentive management fees, are recognized as earned in accordance with the terms of the management agreements. The management agreements may contain provisions for fees related to dispositions, administration of the assets including fees related to accounting, valuation and legal services, and management of capital improvements or projects on the underlying assets.
	Rental revenue is recorded on a straight-line basis over the initial term of the lease. Since many leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that will only be received if the tenant makes all rent payments required through the expiration of the initial term of the lease. Tenant and other receivables also include receivables related to tenant reimbursements for common area maintenance expenses and certain other recoverable expenses that are recognized as revenue in the period in which the related expenses are incurred.
	Tenant and other receivables are recorded net of the allowances for doubtful accounts, which as of March 31, 2014 and December 31, 2013 were $311 and $449, respectively. The Company continually reviews receivables related to rent, tenant reimbursements, management fees, including incentive fees, and unbilled rent receivables and determines collectability by taking into consideration the tenant or asset management clients’ payment history, the financial condition of the tenant or asset management client, business conditions in the industry in which the tenant or asset management client operates and economic conditions in the area in which the property or asset management client is located. In the event that the collectability of a receivable is in doubt, the Company increases the allowance for doubtful accounts or records a direct write-off of the receivable.
Receivables From Servicing Advance [Policy Text Block]	'
	Servicing Advances Receivable
	Servicing advances receivable is comprised of the accrual for the reimbursement of servicing advances recognized as part of the disposal of Gramercy Finance in March 2013. The accrual for reimbursement of servicing advances incurred while the Company was the collateral manager of the CDOs includes expenses such as legal fees incurred to negotiate modifications and foreclosures on loan investments, professional fees incurred on certain loans, or fees for services such as appraisals obtained on real estate properties that served as collateral for loan investments. These reimbursement proceeds will be realized when the related assets within the CDOs are liquidated in accordance with the terms of the collateral management and sub-special servicing agreements, which were sold in connection with the disposal of Gramercy Finance. The Company has no control over the timing of the resolution of the related assets, however, the Company earns accrued interest at the prime rate for the time that these reimbursements are outstanding. For the three months ended March 31, 2014 and March 31, 2013, the Company received $6 and $0 of reimbursements, respectively. As of March 31, 2014 and December 31, 2013, the servicing advances receivable is $8,818 and $8,758, respectively.
	The Company reviews the servicing advances receivable on a quarterly basis and determines collectability by reviewing the expected resolution and timing of the underlying assets of the CDOs. As of March 31, 2014, the Company has reviewed the outstanding servicing advances and has determined that all amounts are collectible.
Collateralized Debt Obligations Bonds [Policy Text Block]	'
	Retained CDO Bonds
	The Retained CDO Bonds are non-investment grade subordinate bonds, preferred shares and ordinary shares of three CDOs, which the Company retained subsequent to the disposal of Gramercy Finance. The Company considers these investments to be not of high credit quality and does not expect a full recovery of interest and principal. Therefore, the Company has suspended interest income accruals on these investments. On a quarterly basis, the Company evaluates the Retained CDO Bonds to determine whether significant changes in estimated cash flows or unrealized losses on these investments, if any, reflect a decline in value which is other-than-temporary. If there is a decrease in estimated cash flows and the investment is in an unrealized loss position, the Company will record an other-than-temporary impairment in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). To determine the component of the other-than-temporary impairment related to expected credit losses, the Company compares the amortized cost basis of the Retained CDO Bonds to the present value of the revised expected cash flows, discounted using the pre-impairment yield. Conversely, if the security is in an unrealized gain position and there is a decrease or significant increase in expected cash flows, the Company will prospectively adjust the yield using the effective yield method.
	For the three months ended March 31, 2014, the Company did not recognize any other-than-temporary impairment on its Retained CDO Bonds. The Company’s Retained CDO Bonds have been in an unrealized loss position for less than twelve months. A summary of the Company’s Retained CDO Bonds as of March 31, 2014 is as follows:
	Description		Number of			Face Value			Amortized		Gross Unrealized		Other-than-		Fair Value		Weighted
			Securities						Cost		Gain (Loss)		temporary				Average
	Available for Sale, Non-investment Grade:
	Retained CDO Bonds			9		$	358,880		$	8,356	$	-885	$	-	$	7,471		5.3 years
	Total			9		$	358,880		$	8,356	$	-885	$	-	$	7,471		5.3 years
	The following table summarizes the activity related to credit losses on the Retained CDO Bonds for the three months ended March 31, 2014:
	Balance as of December 31, 2013 of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income		$	2,002
	Additions to credit losses:
	On Retained CDO Bonds for which an OTTI was not previously recognized			-
	On Retained CDO Bonds for which an OTTI was previously recognized and a portion of an other-than-temporary impairment was recognized in other comprehensive income			-
	On Retained CDO Bonds for which an OTTI was previously recognized without any portion of other-than-temporary impairment recognized in other comprehensive income			-
	Reduction for credit losses:			-
	On Retained CDO Bonds for which no other-than-temporary impairment was recognized in other comprehensive income at current measurement date			-
	On Retained CDO Bonds sold during the period			-
	On Retained CDO Bonds charged off during the period			-
	For increases in cash flows expected to be collected that are recognized over the remaining life of the Retained CDO Bonds			-
	Balance as of March 31, 2014 of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income		$	2,002
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	'
	Intangible Assets and Liabilities
	The Company follows the acquisition method of accounting for business combinations. The Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets acquired based on their respective fair values. Tangible assets include land, buildings and improvements on an as-if vacant basis. The Company utilizes various estimates, processes and information to determine the as-if vacant property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analyses and other methods. Identifiable intangible assets include amounts allocated to acquired leases for above- and below-market lease rates and the value of in-place leases. Management also considers information obtained about each property as a result of its pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets and liabilities acquired.
	Above-market and below-market lease values for properties acquired are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between the contractual amount to be paid pursuant to each in-place lease and management’s estimate of the fair market lease rate for each such in-place lease, measured over a period equal to the remaining non-cancelable term of the lease. The above-market lease values are amortized as a reduction of rental revenue over the remaining non-cancelable terms of the respective leases. The below-market lease values are amortized as an increase to rental revenue over the initial term of the respective leases. If a tenant terminates its lease prior to its contractual expiration and no future rental payments will be received, any unamortized balance of the market lease intangibles will be written off to rental revenue.
	The aggregate value of intangible assets related to in-place leases is primarily the difference between the property valued with existing in-place leases adjusted to market rental rates and the property valued as-if vacant. Factors considered by management in its analysis of the in-place lease intangibles include an estimate of carrying costs during the expected lease-up period for each property, taking into account current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the anticipated lease-up period, which is expected to average six months.
	Management also estimates costs to execute similar leases including leasing commissions and other related expenses. The value of in-place leases is amortized to depreciation and amortization expense over the remaining non-cancelable term of the respective leases. In no event does the amortization period for intangible assets exceed the remaining depreciable life of the building. If a tenant terminates its lease prior to its contractual expiration and no future rental payments will be received, any unamortized balance of the in-place lease intangible will be written off to depreciation and amortization expense.
	The Company recorded $756 and $95 of amortization of intangible assets as part of depreciation and amortization, including $0 and $3 within discontinued operations for the three months ended March 2014 and 2013, respectively. The Company recorded $142 and $10 of amortization of intangible assets and liabilities as a net increase to rental revenue, including $0 and $34 within discontinued operations for the three months ended March 31, 2014 and 2013, respectively.
	Intangible assets and acquired lease obligations consist of the following:
			March 31,			December 31,
			2014			2013
	Intangible assets:
	In-place leases, net of accumulated amortization of $2,074 and $1,318		$	33,411		$	32,773
	Above-market leases, net of accumulated amortization of $516 and $278			8,134			8,187
	Total intangible assets		$	41,545		$	40,960
	Intangible liabilities:
	Below-market leases, net of accumulated amortization of $396 and $300		$	5,939		$	6,077
	Total intangible liabilities		$	5,939		$	6,077
	The following table provides the weighted-average amortization period as of March 31, 2014 for intangible assets and liabilities and the projected amortization expense for the next five years.
			Weighted-			April 1 to			2015		2016		2017		2018
			Average			Demember 31,
			Amortization			2014
			Period
	In-place leases			12		$	2,329		$	3,105	$	3,105	$	3,105	$	3,105
	Total to be included in depreciation and amortization expense					$	2,329		$	3,105	$	3,105	$	3,105	$	3,105
	Above-market lease assets			10.2		$	657		$	876	$	876	$	876	$	876
	Below-market lease liabilities			13.1			-368			-491		-491		-491		-491
	Total to be included as a reduction to rental revenue					$	289		$	385	$	385	$	385	$	385
Deferred Charges, Policy [Policy Text Block]	'
	Deferred Costs
	Deferred costs include deferred financing costs that represent commitment fees, legal and other third-party costs associated with obtaining commitments for financing which result in a closing of such financing. These costs are amortized over the terms of the respective agreements and the amortization is reflected as interest expense. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close.
	The Company has deferred certain expenditures related to the leasing of certain properties. Direct costs of leasing are deferred and amortized over the terms of the underlying leases.
Other Assets [Policy Text Block]	'
	Other Assets
	The Company makes payments for certain expenses such as insurance and property taxes in advance of the period in which it receives the benefit. These payments are classified as other assets and amortized over the respective period of benefit relating to the contractual arrangement. The Company also escrows deposits related to pending acquisitions and financing arrangements, as required by a seller or lender, respectively. Costs prepaid in connection with securing financing for a property are reclassified into deferred financing costs at the time the transaction is completed.
	Other assets are also comprised of capitalized software costs related to software purchased for internal use. The costs are amortized into expense on a straight-line basis over the assets' estimated useful life, which is generally three years. As of March 31, 2014 and December 31, 2013, the Company had $1,155 and $705 of unamortized computer software costs, respectively. The Company recorded amortization expense of $108 and $0 on capitalized software costs during the three months ended March 31, 2014 and 2013, respectively.
	The following table provides the weighted-average amortization period as of March 31, 2014 for capitalized software and the projected amortization expense for the next five years.
			Weighted-Average			April 1 to December			2015		2016		2017		2018
			Amortization Period			31, 2014
	Capitalized software costs (1)			2.8		$	325		$	433	$	397	$	-	$	-
	Total to be included in depreciation and amorization expense					$	325		$	433	$	397	$	-	$	-
		-1	The Company may capitalize additional costs incurred related to the purchase of internal use software during 2014.
Fair Value of Financial Instruments, Policy [Policy Text Block]	'
	Valuation of Financial Instruments
	At December 31, 2013 and March 31, 2014, the Company measured financial instruments, including Retained CDO Bonds and derivative instruments on a recurring basis.
	ASC 820-10, “Fair Value Measurements and Disclosures,” among other things, establishes a hierarchical disclosure framework associated with the level of pricing observability utilized in measuring financial instruments at fair value. Considerable judgment is necessary to interpret market data and develop estimated fair values. Accordingly, fair values are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. Financial instruments with readily available actively quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of pricing observability and will require a lesser degree of judgment to be utilized in measuring fair value. Conversely, financial instruments rarely traded or not quoted will generally have less, or no, pricing observability and will require a higher degree of judgment to be utilized in measuring fair value. Pricing observability is generally affected by such items as the type of financial instrument, whether the financial instrument is new to the market and not yet established, the characteristics specific to the transaction and overall market conditions. The use of different market assumptions and/or estimation methodologies may have a material effect on estimated fair value amounts.
	Fair value is defined as 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, or an exit price. The level of pricing observability generally correlates to the degree of judgment utilized in measuring the fair value of financial instruments.
	The three broad levels defined are as follows:
	Level I  — This level is comprised of financial instruments that have quoted prices that are available in active markets for identical assets or liabilities. The types of financial instruments included in this category are highly liquid instruments with actively quoted prices.
	Level II  — This level is comprised of financial instruments that have pricing inputs other than quoted prices in active markets that are either directly or indirectly observable. The nature of these financial instruments includes instruments for which quoted prices are available but traded less frequently and instruments that are fair valued using other financial instruments, the parameters of which can be directly observed.
	Level III  — This level is comprised of financial instruments that have little to no pricing observability as of the reported date. These financial instruments do not have active markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment and assumptions. Instruments that are generally included in this category are derivatives, whole loans, subordinate interests in whole loans and mezzanine loans.
	For a further discussion regarding the measurement of financial instruments see Note 9, “Fair Value of Financial Instruments.”
Revenue Recognition, Policy [Policy Text Block]	'
	Revenue Recognition
	Real Estate Investments
	Rental revenue from leases is recognized on a straight-line basis regardless of when payments are contractually due. Certain lease agreements also contain provisions that require tenants to reimburse the Company for real estate taxes, common area maintenance costs and the amortized cost of capital expenditures with interest. Such amounts are included in both revenues and operating expenses when the Company is the primary obligor for these expenses and assumes the risks and rewards of a principal under these arrangements. Under leases where the tenant pays these expenses directly, such amounts are not included in revenues or expenses.
	Deferred revenue represents rental revenue and management fees received prior to the date earned. Deferred revenue also includes rental payments received in excess of rental revenues recognized as a result of straight-line basis accounting.
	Other income includes fees paid by tenants to terminate their leases, which are recognized when fees due are determinable, no further actions or services are required to be performed by the Company, and collectability is reasonably assured. In the event of early termination, the unrecoverable net book values of the assets or liabilities related to the terminated lease are recognized as depreciation and amortization expense in the period of termination.
	The Company recognizes sales of real estate properties only upon closing. Payments received from purchasers prior to closing are recorded as deposits. Profit on real estate sold is recognized using the full accrual method upon closing when the collectability of the sale price is reasonably assured and the Company is not obligated to perform significant activities after the sale. Profit may be deferred in whole or part until the sale meets the requirements of profit recognition on sale of real estate.
	Asset Management Business
	The management agreements may contain provisions for fees related to dispositions, administration of the assets including fees related to accounting, valuation and legal services, and management of capital improvements or projects on the underlying assets.
	Certain of the Company’s asset management contracts include provisions that may allow it to earn additional fees, generally described as incentive fees or profit participation interests, based on the achievement of a targeted valuation of the managed assets or the achievement of a certain internal rate of return on the managed assets. The Company recognizes incentive fees on its asset management contracts based upon the amount that would be due pursuant to the contract, if the contract were terminated at the reporting date. If the contact may be terminated at will, revenue will only be recognized to the amount that would be due pursuant to that termination. If the incentive fee is a fixed amount, only a proportionate share of revenue is recognized at the reporting date, with the remaining fees recognized on a straight-line basis over the measurement period. The values of incentive management fees are periodically evaluated by management.
	In December 2013, the Company executed an Amended and Restated Asset Management Services Agreement, or Management Agreement, with an affiliate of KBS Real Estate Investment Trust, Inc., or KBS. The Management Agreement provides for a base management fee of $7,500 per year plus the reimbursement of certain administrative and property related expenses as provided therein. The term of the Management Agreement will continue to December 31, 2016 (with a one year extension option exercisable by KBS), unless earlier terminated as therein provided, and also provides incentive fees in the form of profit participation ranging from 10% – 30% of incentive profits earned on sales.
	Prior to December 1, 2013, the Company provided KBS asset management services for a base management fee of $9,000 per year, reimbursement of all property related expenses, and an incentive fee.
	For the three months ended March 31, 2014 and 2013, the Company recognized incentive fees of $635 and $287, respectively.
Rent Expense [Policy Text Block]	'
	Rent Expense
	Rent expense is recognized on a straight-line basis regardless of when payments are due. Accounts payable and accrued expenses in the accompanying Condensed Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013 and includes an accrual for rental expense recognized in excess of amounts due at that time. Rent expense related to leasehold interests is included in property operating expenses, and rent expense related to office rentals is included in management, general and administrative expense.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	'
	Stock-Based Compensation Plans
	The Company has a stock-based compensation plan, described more fully in Note 11. The Company accounts for this plan using the fair value recognition provisions. The Company uses the Black-Scholes option-pricing model to estimate the fair value of a stock option award. This model requires inputs such as expected term, expected volatility, and risk-free interest rate. Further, the forfeiture rate also impacts the amount of aggregate compensation cost. These inputs are highly subjective and generally require significant analysis and judgment to develop.
	Compensation cost for stock options, if any, is recognized ratably over the vesting period of the award. The Company’s policy is to grant options with an exercise price equal to the quoted closing market price of its stock on the business day preceding the grant date. Awards of stock or restricted stock are expensed as compensation over the benefit period. For the three months ended March 31, 2014 and 2013, basic EPS was determined by dividing net income allocable to common stockholders for the applicable period by the weighted-average number of shares of common stock outstanding during such period. Net income during the applicable period is also allocated to the time-based unvested restricted stock as these grants are entitled to receive dividends and are therefore considered a participating security. Time-based unvested restricted stock is not allocated net losses and/or any excess of dividends declared over net income; such amounts are allocated entirely to the common stockholders other than the holders of time-based unvested restricted stock. As of March 31, 2014, and December 31, 2013, the Company had 596,445 and 678,784 weighted-average unvested restricted shares outstanding.
	The fair value of each stock option granted is estimated on the date of grant for options issued to employees, and quarterly awards to non-employees, using the Black-Scholes option pricing model with the following weighted average assumptions for grants in 2014 and 2013.
			2014				2013
	Dividend yield			2.5	%			5.5	%
	Expected life of option			5.0 years				5.0 years
	Risk-free interest rate			1.81	%			0.72	%
	Expected stock price volatility			41	%			53	%
Derivatives, Policy [Policy Text Block]	'
	Derivative Instruments
	In the normal course of business, the Company is exposed to the effect of interest rate changes and limits these risks by following established risk management policies and procedures including the use of derivatives. The Company uses a variety of derivative instruments to manage, or hedge, interest rate risk. The Company requires that hedging derivative instruments be effective in reducing the interest rate risk exposure that they are designated to hedge. This effectiveness is essential for qualifying for hedge accounting. Instruments that meet these hedging criteria are formally designated as hedges at the inception of the derivative contract. The Company uses a variety of commonly used derivative products that are considered “plain vanilla” derivatives. These derivatives typically include interest rate swaps, caps, collars and floors. The Company expressly prohibits the use of unconventional derivative instruments and using derivative instruments for trading or speculative purposes. Further, the Company has a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors.
	The Company may from time to time use derivative instruments in connection with the private placement of equity. In March 2014, the Company issued Exchangeable Senior Notes, which are exchangeable, under certain circumstances, for cash, for shares of the Company’s common stock or for a combination of cash and shares of the Company’s common stock, in accordance with the terms of the Notes, as described in Note 6. The embedded exchange option value of the Notes is recorded as a derivative at March 31, 2014, pursuant to NYSE share-settlement limitations. The exchange option value is not a hedging instrument. In October 2013, the Company entered into contingent value rights agreements, or CVR agreements, with the share purchasers. Pursuant to each CVR Agreement, the Company issued to each purchaser the number of contingent value rights, or CVRs, equal to the number of common stock purchased. The CVRs were not designated as hedge instruments. The CVRs did not qualify, nor did the Company intend for these instruments to qualify, as hedging instruments. On March 25, 2014, the CVR agreements expired with no value.
	Derivatives that are not hedges must be adjusted to fair value through income. If a derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset, liability or firm commitment through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. Derivative accounting may increase or decrease reported net income and stockholders’ equity prospectively, depending on future levels of LIBOR, swap spreads and other variables affecting the fair values of derivative instruments and hedged items, but will have no effect on cash flows, provided the contract is carried through to full term.
	All hedges held by the Company are deemed effective based upon the hedging objectives established by the Company’s corporate policy governing interest rate risk management. The effect of the Company’s derivative instruments on its financial statements is discussed more fully in Note 10.
Income Tax, Policy [Policy Text Block]	'
	Income Taxes
	The Company elected to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code, beginning with its taxable year ended December 31, 2004. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income, to stockholders. As a REIT, the Company generally will not be subject to U.S. federal income tax on taxable income that the Company distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will then be subject to U.S. federal income taxes on taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distributions to stockholders. However, the Company believes that it will be organized and operate in such a manner as to qualify for treatment as a REIT and the Company intends to operate in the foreseeable future in such a manner so that it will qualify as a REIT for U.S. federal income tax purposes. The Company is subject to certain state and local taxes. The Company’s TRSs are subject to federal, state and local taxes.
	For the three months ended March 31, 2014 and 2013, the Company recorded $369 and $2,920 of income tax expense, including $0 and $2,515 within discontinued operations, respectively. Tax expense for each year is comprised of federal, state and local taxes. Income taxes, primarily related to the Company’s TRSs, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided if the Company believes it is more likely than not that all or a portion of a deferred tax asset will not be realized. Any increase or decrease in a valuation allowance is included in the tax provision when such a change occurs.
	The Company’s policy for interest and penalties, if any, on material uncertain tax positions recognized in the financial statements is to classify these as interest expense and operating expense, respectively. As of March 31, 2014 and 2013, the Company did not incur any material interest or penalties.
Earnings Per Share, Policy [Policy Text Block]	'
	Earnings Per Share
	The Company presents both basic and diluted earnings per share, or EPS. Basic EPS excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, as long as their inclusion would not be anti-dilutive. The conversion of Exchangeable Senior Notes was not included in the computation of diluted earnings per share because the conversion is anti-dilutive.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	'
	Concentrations of Credit Risk
	Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash investments, debt investments and accounts receivable. The Company places its cash investments in excess of insured amounts with high quality financial institutions.
	One asset management client, KBS, accounted for 67% and 68% of the Company’s management fee income for the three months ended March 31, 2014 and 2013, respectively. One tenant accounted for 19% and 46% of the Company’s rental revenue for the three months ended March 31, 2014 and 2013, respectively.
Use of Estimates, Policy [Policy Text Block]	'
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recently Issued Accounting Pronouncements
	In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which revises the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have, or will have, a major effect on an entity's operations and financial results, removing the lack of continuing involvement criteria and requiring discontinued operations reporting for the disposal of an equity method investment that meets the definition of discontinued operations. This guidance also requires expanded disclosures for discontinued operations, including disclosure of pretax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. The update is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2014. As permitted, the Company has elected to early adopt the updated standard, however the adoption did not impact the Company’s Financial Statements as the Company does not have any qualifying disposals or assets held-for-sale for the three months ended March 31, 2014.

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2014
Schedule of Variable Interest Entities [Table Text Block]	'
	Variable Interest Entities
	The Company had no consolidated VIEs as of March 31, 2014 or December 31, 2013. The following is a summary of the Company’s involvement with unconsolidated VIEs as of March 31, 2014:
			Company carrying			Company carrying			Face value of		Face value of liabilities
			value-assets			value-liabilities			assets held by the VIEs		issued by the VIEs
	Assets
	Unconsolidated VIEs
	Retained CDO Bonds		$	7,471		$	-		$	1,943,810	$	1,758,716
	The following is a summary of the Company’s involvement with unconsolidated VIEs as of December 31, 2013:
			Company carrying			Company carrying			Face value of		Face value of liabilities
			value-assets			value-liabilities			assets held by the VIEs		issued by the VIEs
	Assets
	Unconsolidated VIEs
	Retained CDO Bonds		$	6,762		$	-		$	2,156,218	$	1,948,901
Schedule of Retained Collateralized Debt Obligation Bonds [Table Text Block]	'
	A summary of the Company’s Retained CDO Bonds as of March 31, 2014 is as follows:
	Description		Number of			Face Value			Amortized		Gross Unrealized		Other-than-		Fair Value		Weighted
			Securities						Cost		Gain (Loss)		temporary				Average
	Available for Sale, Non-investment Grade:
	Retained CDO Bonds			9		$	358,880		$	8,356	$	-885	$	-	$	7,471		5.3 years
	Total			9		$	358,880		$	8,356	$	-885	$	-	$	7,471		5.3 years
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]	'
	The following table summarizes the activity related to credit losses on the Retained CDO Bonds for the three months ended March 31, 2014:
	Balance as of December 31, 2013 of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income		$	2,002
	Additions to credit losses:
	On Retained CDO Bonds for which an OTTI was not previously recognized			-
	On Retained CDO Bonds for which an OTTI was previously recognized and a portion of an other-than-temporary impairment was recognized in other comprehensive income			-
	On Retained CDO Bonds for which an OTTI was previously recognized without any portion of other-than-temporary impairment recognized in other comprehensive income			-
	Reduction for credit losses:			-
	On Retained CDO Bonds for which no other-than-temporary impairment was recognized in other comprehensive income at current measurement date			-
	On Retained CDO Bonds sold during the period			-
	On Retained CDO Bonds charged off during the period			-
	For increases in cash flows expected to be collected that are recognized over the remaining life of the Retained CDO Bonds			-
	Balance as of March 31, 2014 of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income		$	2,002
Schedule Of Intangible Assets And Acquired Lease Obligations [Table Text Block]	'
	Intangible assets and acquired lease obligations consist of the following:
			March 31,			December 31,
			2014			2013
	Intangible assets:
	In-place leases, net of accumulated amortization of $2,074 and $1,318		$	33,411		$	32,773
	Above-market leases, net of accumulated amortization of $516 and $278			8,134			8,187
	Total intangible assets		$	41,545		$	40,960
	Intangible liabilities:
	Below-market leases, net of accumulated amortization of $396 and $300		$	5,939		$	6,077
	Total intangible liabilities		$	5,939		$	6,077
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	'
	The following table provides the weighted-average amortization period as of March 31, 2014 for intangible assets and liabilities and the projected amortization expense for the next five years.
			Weighted-			April 1 to			2015		2016		2017		2018
			Average			Demember 31,
			Amortization			2014
			Period
	In-place leases			12		$	2,329		$	3,105	$	3,105	$	3,105	$	3,105
	Total to be included in depreciation and amortization expense					$	2,329		$	3,105	$	3,105	$	3,105	$	3,105
	Above-market lease assets			10.2		$	657		$	876	$	876	$	876	$	876
	Below-market lease liabilities			13.1			-368			-491		-491		-491		-491
	Total to be included as a reduction to rental revenue					$	289		$	385	$	385	$	385	$	385
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
	The fair value of each stock option granted is estimated on the date of grant for options issued to employees, and quarterly awards to non-employees, using the Black-Scholes option pricing model with the following weighted average assumptions for grants in 2014 and 2013.
			2014				2013
	Dividend yield			2.5	%			5.5	%
	Expected life of option			5.0 years				5.0 years
	Risk-free interest rate			1.81	%			0.72	%
	Expected stock price volatility			41	%			53	%
Capitalized Software Costs [Member]	'
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	'
	The following table provides the weighted-average amortization period as of March 31, 2014 for capitalized software and the projected amortization expense for the next five years.
			Weighted-Average			April 1 to December			2015		2016		2017		2018
			Amortization Period			31, 2014
	Capitalized software costs (1)			2.8		$	325		$	433	$	397	$	-	$	-
	Total to be included in depreciation and amorization expense					$	325		$	433	$	397	$	-	$	-
		-1	The Company may capitalize additional costs incurred related to the purchase of internal use software during 2014.

Dispositions_and_Assets_Heldfo1

Dispositions and Assets Held-for-Sale (Tables)	3 Months Ended
	Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Schedule Of Operating Results Of Assets Held For Sale Including In Discontinued Operations [Table Text Block]	'
	The following operating results for Gramercy Finance and the assets previously sold for the three months ended March 31, 2014 and 2013 are included in discontinued operations for all periods presented:
			Three Months Ended March 31,
			2014		2013
	Operating Results:
	Revenues		$	15	$	33,516
	Operating expenses			-		-3,548
	Marketing, general and administrative			-101		-1,260
	Interest expense			-		-14,653
	Depreciation and amortization			-		-15
	Loans held for sale and CMBS OTTI			-		-7,641
	Expense reimbursements (1)			-		5,406
	Equity in net income from joint venture			-		-804
	Net income (loss) from operations			-86		11,001
	Gain on sale of joint venture interests to a director related entity			-		1,317
	Net gains from disposals			-		389,140
	Provision for taxes			-		-2,515
	Net income from discontinued operations		$	-86	$	398,943
		-1	In the three months ended March 31, 2013, the Company received reimbursements for enforcement costs of $5,406 incurred on the behalf of a pari-passu lender for one loan held by the CDOs, which the Company incurred in prior years. The Company fully reserved for these costs when incurred due to the uncertainty of recovery.

Acquisitions_Tables

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2014
Business Combinations [Abstract]	'
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	'
	During the three months ended March 31, 2014, the Company’s property acquisitions are summarized as follows:
	Property Type		Number of		Number of		Square Feet			Purchase Price	Weighted-average
			Properties		Buildings						Remaining Lease Term (1)
	Industrial (2)			1		1		115,472	$	6,300		11.59
	Total			1		1		115,472	$	6,300		11.59
		-1	Weighted-average lease term is based upon the remaining non-cancelable lease term as of March 31, 2014. The weighted-average calculation is based upon square footage.
		-2	The Company assumed a mortgage on its property acquisition in 2014. The unpaid principal value of the mortgage assumed at acquisition was $2,664. Refer to Note 6 for more information on the Company’s debt obligations related to acquisitions.
	During the year ended December 31, 2013, the Company’s property acquisitions are summarized as follows:
	Property Type		Number of		Number of		Square Feet		Purchase Price		Weighted-average
			Properties		Buildings						Remaining Lease Term (1)
	Industrial (2), (3)			23		25		3,683,184	$	261,416		11.14
	Office/Banking Center			3		3		48,709		7,120		8.45
	Specialty Asset (3)			3		7		255,738		72,250		13.87
	Total			29		35		3,987,631	$	340,786		11.28
		-1	Weighted-average lease term is based upon the remaining non-cancelable lease term as of December 31, 2013. The weighted-average calculation is based upon square footage.
		-2	The industrial properties line includes a build-to-suit property located in Hialeah Gardens, Florida, which represents a commitment to construct an approximately 118,000 square foot cold storage facility which will be 100% leased for an initial term of 25 years when completed. The facility is currently being constructed. The Company acquired the land for the property with a $4,990 zero-coupon mortgage note payable to the seller. Total costs are expected to be approximately $25,000, of which the unfunded amounts were estimated to be $10,217 at March 31, 2014.
		-3	The Company assumed mortgages on two of its property acquisitions in 2013, one of which was on an industrial property and one of which was on a specialty asset. The unpaid principal value of the mortgages assumed at acquisition was $48,899. Refer to Note 6 for more information on the Company’s debt obligations related to acquisitions.
Business Acquisition, Pro Forma Information [Table Text Block]	'
	The supplemental pro forma operating data is not necessarily indicative of what the actual results of operations would have been assuming the transaction had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods.
			2014		2013
	Pro forma revenues		$	15,649	$	16,476
	Pro forma net income (loss) available to common stockholders		$	-2,282	$	396,460
	Pro forma earnings per common share-basic		$	-0.03	$	6.76
	Pro forma earnings per common share-diluted		$	-0.03	$	6.76
	Pro forma common shares-basic			70,763,959		58,678,078
	Pro forma common share-diluted			70,763,959		58,678,078

Investments_in_Joint_Ventures_

Investments in Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2014
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]	'
Schedule Of Combined Balance Sheet For The Company's Joint Venture [Table Text Block]	'
	The Condensed Consolidated Balance Sheets for the Company’s joint ventures at March 31, 2014 and December 31, 2013 are as follows:
			March 31,		December 31,
			2014		2013
	Assets:
	Real estate assets, net		$	300,756	$	305,798
	Other assets			104,501		100,560
	Total assets		$	405,257	$	406,358
	Liabilities and members' equity:
	Mortgages payable		$	241,000	$	241,000
	Other liabilities			89,916		84,608
	Members' equity			74,341		80,750
	Liabilities and members' equity		$	405,257	$	406,358
Schedule Of Combined Income Statement For The Company's Joint Venture [Table Text Block]	'
	The Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the joint ventures for the three months ended March 31, 2014 and 2013 or partial period for acquisitions or dispositions which closed during these periods, are as follows:
			Three months ended March 31,
			2014		2013
	Revenues		$	16,892	$	19,256
	Operating expenses			8,167		9,738
	Interest (1)			2,790		6,931
	Depreciation			4,540		4,895
	Total expenses			15,497		21,564
	Net income (loss) from operations			1,395		-2,308
	Net gain (loss) on disposals			-221		-
	Net income (loss)		$	1,174	$	-2,308
	Company's equity in net income (loss) within continuing operations		$	628	$	-1,188
	Company's equity in net income (loss) within discontinued operations		$	-	$	-804
		-1	The Bank of America Portfolio net loss includes a net loss of $0 and $2,048 for the three months ended March 31, 2014 and 2013, respectively, from a defeased mortgage acquired as part of the joint venture’s acquisition. The pool of treasury securities which defeased the mortgage loan generate sufficient cash flows to cover the debt service requirements, but do not generate income to offset the corresponding cash flows and interest expense.

Debt_Obligations_Tables

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Schedule Of Mortgage Notes Payable [Table Text Block]	'
	Certain real estate assets are subject to mortgage liens. The following is a summary of the Company’s secured financing arrangements as of March 31, 2014:
			Encumbered		Balance		Interest Rate		Weighted-average Effective			Weighted-average
			Properties						Interest Rate			Maturity Date
	Fixed-rate mortgages			8	$	106,549	0.00% to 6.95%			4.83%		June 2014 to June 2029
	Variable-rate mortgages (1), (2)			1		16,005	1 Month LIBOR + 2.10%			2.29%		Dec-20
	Secured credit facility (1)			20		-	1 Month LIBOR + 1.90%			2.06%		Sep-15
	Total secured financings			29	$	122,554
	Above(below) market interest					1,787
	Balance at March 31, 2014			29	$	124,341
		-1	All of the Company’s variable-rate financings are monthly LIBOR plus a fixed spread.
		-2	This mortgage is hedged by an interest rate swap which has a maturity date of December 2020. Refer to Note 1 for further information on hedging and the Company’s derivative instruments.
Schedule of Maturities of Long-term Debt [Table Text Block]	'
	Combined aggregate principal maturities of the Company's mortgage notes, credit facility, and exchangeable senior notes, in addition to associated interest payments, as of March 31, 2014 are as follows:
			Credit Facility		Mortgage Notes Payable		Exchangeable Senior			Interest Payments (1)		Total
							Notes
	April 1 through December 31, 2014		$	-	$	7,018	$	-		$	6,303	$	13,321
	2015			-		2,822		-			9,694		12,516
	2016			-		2,956		-			9,554		12,510
	2017			-		3,109		-			9,392		12,501
	2018			-		16,054		-			9,017		25,071
	Thereafter			-		90,595		115,000			20,662		226,257
	Above / Below Market Interest (2)			-		-		-			-4,158		-4,158
	Total		$	-	$	122,554	$	115,000		$	60,464	$	298,018
		-1	Interest payment amounts represent interest payments due to holders of the exchangeable senior notes in addition to the monthly interest payments due on the mortgage notes payable.
		-2	Above / below market interest includes the discount on the exchangeable senior notes as well as the premium on the mortgage notes payable, both net of amortization.

Leasing_Agreements_Tables

Leasing Agreements (Tables)	3 Months Ended
	Mar. 31, 2014
Leases, Operating [Abstract]	'
Schedule Of Future Minimum Rental Payments For Leasing Agreements [Table Text Block]	'
	Future minimum rental revenue under non-cancelable leases excluding reimbursements for operating expenses as of March 31, 2014 are as follows:
		Operating Leases
	April 1 through December 31, 2014	$	22,459
	2015		30,892
	2016		31,197
	2017		31,554
	2018		32,099
	Thereafter		288,358
	Total minimum lease rental income	$	436,559

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Schedule Of Carrying Value And Fair Value Disclosure [Table Text Block]	'
	The following table presents the carrying value in the financial statements, and approximate fair value of financial instruments at March 31, 2014 and December 31, 2013:
			March 31, 2014					December 31, 2013
			Carrying Value		Fair Value			Carrying Value		Fair Value
	Financial assets:
	Retained CDO Bonds (1), (2)		$	7,471	$	7,471		$	6,762	$	6,762
	Financial liabilities:
	Derivative instruments (5)		$	6,296	$	6,296		$	187	$	187
	Mortgage notes payable (1)		$	124,341	$	124,785		$	122,180	$	123,349
	Contingent value rights (3)		$	-	$	-		$	115	$	115
	Exchangeable senior notes (4)		$	109,055	$	109,055		$	-	$	-
		-1	Mortgages notes payable and Retained CDO Bonds are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions.
		-2	Retained CDO Bonds represent the CDOs’ subordinate bonds, preferred shares, and ordinary shares, which were retained subsequent to the disposal of Gramercy Finance and were previously eliminated in consolidation.
		-3	Pursuant to the Company’s private placement of equity, the Company entered into contingent value right agreements, or CVR agreements, with purchasers of the Company’s common stock. The CVR agreements entitled each purchaser to cash payment contingent on the Company’s stock price, as follows: On April 1, 2014, the purchasers are entitled to cash payment of (a) the number of their contingent values rights multiplied by (b) the amount, not to exceed $0.46, equal to the difference between the share price at time of purchase, $4.11, and the volume-weighted average price for the time trading days ending on and including March 25, 2014. The CVR agreements expired on March 25, 2014 with no value.
		-4	The Company issued $115,000 of 3.75% Exchangeable Senior Notes, which are senior unsecured obligations guaranteed by the Company on a senior unsecured basis. The Notes are carried at their fair value, which was determined based a discounted cash flows valuation, using discount rates that best reflect current market rates for unsecured financing with similar characteristics. The Notes are classified as Level III. Refer to Note 6 for more information.
		-5	Derivative instruments include the $5,968 embedded exchange option related to the 3.75% Exchangeable Senior Notes as well as $328 related to the interest rate swaps.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	'
	Assets and liabilities measured at fair value on a recurring basis are categorized in the table below based upon the lowest level of significant input to the valuations.
	At March 31, 2014		Total		Level I			Level II		Level III
	Financial Assets:
	Retained CDO Bonds:
	Non-investment grade, subordinate CDO bonds		$	7,471	$	-		$	-	$	7,471
			$	7,471	$	-		$	-	$	7,471
	Financial Liabilities:
	Derivative instruments:
	Interest rate swaps		$	328	$	-		$	-	$	328
	Embedded conversion option of the 3.75% Exchangeable Senior Notes			5,968		-			-		5,968
			$	6,296	$	-		$	-	$	6,296
	At December 31, 2013		Total		Level I			Level II		Level III
	Financial Assets:
	Retained CDO Bonds:
	Non-investment grade, subordinate CDO bonds		$	6,762	$	-		$	-	$	6,762
			$	6,762	$	-		$	-	$	6,762
	Financial Liabilities:
	Derivative instruments:
	Interest rate swaps		$	187	$	-		$	-	$	187
	Contingent value rights			115		-			-		115
			$	302	$	-		$	-	$	302
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]	'
	Quantitative information regarding the valuation techniques and the range of significant unobservable Level III inputs used to determine fair value measurements on a recurring basis as of March 31, 2014 are:
			At March 31, 2014
	Financial Asset or Liability		Fair Value		Valuation Technique		Unobservable Inputs		Range
	Non-investment grade, subordinate CDO bonds		$	7,471	Discounted cash flows		Discount rate		25.00% to 40.00%
	Interest rate swaps		$	328	Hypothetical derivative method		Credit borrowing spread		150 to 250 basis points
	Embedded conversion option of the 3.75% Exchangeable Senior Notes		$	5,968	Discounted cash flows		Discount rate		5.00%
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
	The following table reconciles the beginning and ending balances of financial assets measured at fair value on a recurring basis using Level III inputs:
			Retained
			CDO Bonds
	Balance as of December 31, 2013		$	6,762
	Amortization of discounts or premiums			375
	Adjustments to fair value:
	Included in other comprehensive income			334
	Other-than-temporary impairments			-
	Balance as of March 31, 2014		$	7,471
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
	The following roll forward table reconciles the beginning and ending balances of financial liabilities measured at fair value on a recurring basis using Level III inputs:
			Derivative
			Instruments
	Balance as of December 31, 2013		$	302
	Adjustments to fair value:
	Unrealized loss			141
	Embedded conversion option of the 3.75% exchangeable senior notes			5,968
	Expiration of Contingent Value Rights			-115
	Balance as of March 31, 2014		$	6,296

Derivative_Instruments_Tables

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2014
Derivative Instrument Detail [Abstract]	'
Schedule of Derivative Instruments [Table Text Block]	'
	The following table summarizes the notional and fair value of the Company’s derivative financial instruments at March 31, 2014. The notional value is an indication of the extent of the Company’s involvement in this instrument at that time, but does not represent exposure to credit, interest rate or market risks:
		Benchmark Rate	Notional		Strike			Effective	Expiration	Fair
			Value		Rate			Date	Date	Value
	Assets of Non-VIEs:
	Interest rate swap	1 mo. USD-LIBOR-BBA	$	16,005		4.55	%	12/19/13	12/19/20	$	-328
	Interest rate cap	1 mo. USD-LIBOR-BBA		24,000		5	%	7/19/11	8/9/14		-
	Embedded conversion option of the 3.75% exchangeable senior notes	N/A		N/A		N/A		3/18/14	3/15/19		-5,968
	Total derivatives			40,005							-6,296

Stockholders_Equity_Deficit_Ta

Stockholders' Equity (Deficit) (Tables)	3 Months Ended
	Mar. 31, 2014
Stockholders Equity Note [Abstract]	'
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]	'
	Earnings per share for the three months ended March 31, 2014 and 2013 are computed as follows:
		For the three months Ended March 31,
		2014		2013
	Numerator-Income (loss)
	Net income (loss) from continuing operations	$	-415	$	-3,766
	Net income (loss) from discontinued operations		-86		398,943
	Net Income (loss)		-501		395,177
	Preferred stock dividends		-1,790		-1,790
	Excess of carrying amount of tendered preferred stock over consideration paid		-		-
	Numerator for basic income per share - Net income (loss) available to common stockholders:		-2,291		393,387
	Effect of dilutive securities		-		-
	Diluted Earnings:
	Net income (loss) available to common stockholders	$	-2,291	$	393,387
	Denominator-Weighted Average shares:
	Weighted average shares outstanding		71,360,404		59,310,356
	Less: Unvested restricted shares		-596,445		-632,278
	Denominator for basic income per share		70,763,959		58,678,078
	Effect of dilutive securities
	LTIP		-		-
	Stock based compensation plans		-		-
	Phantom stock units		-		-
	Exchangeable senior notes		-		-
	Diluted shares	$	70,763,959	$	58,678,078
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
	Accumulated other comprehensive income as of March 31, 2014 and 2013 is comprised of the following:
		As of March 31,
		2014		2013
	Net realized and unrealized losses on interest rate swap and cap agreements accounted for as cash flow hedges	$	-141	$	-
	Net unrealized loss on available-for-sale securities		-		-
	Net unrealized gain on debt securities		334		-
	Total accumulated other comprehensive income	$	193	$	-

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Schedule Of Evaluation Of Performance Based On Financials Measure For Each Segment [Table Text Block]	'
	The Company’s reportable operating segments are summarized as follows:
			Asset Management		Investments /		Total
					Corporate
	Three Months Ended March 31, 2014
	Total revenues		$	6,965	$	8,619	$	15,584
	Equity in net loss from unconsolidated joint ventures			-		628		628
	Total operating and interest expense (1)			-6,462		-10,165		-16,627
	Net income (loss) from continuing operations (2)		$	503	$	-918	$	-415
			Asset Management		Investments /		Total
					Corporate
	Three Months Ended March 31, 2013
	Total revenues		$	8,315	$	944	$	9,259
	Equity in net loss from unconsolidated joint ventures			-		-1,188		-1,188
	Total operating and interest expense (1)			-7,088		-4,749		-11,837
	Net income (loss) from continuing operations (2)		$	1,227	$	-4,993	$	-3,766
	Total Assets:
	31-Mar-14		$	10,365	$	515,100	$	525,465
	31-Dec-13		$	12,950	$	478,713	$	491,663
		-1	Total operating and interest expense includes operating costs on commercial property assets for the Investments segment and costs to perform required functions under the management agreement for the Asset Management segment. Depreciation and amortization of $3,385 and $337 and provision for taxes of $369 and $405 for the three months ended March 31, 2014 and 2013, respectively, are included in the amounts presented above.
		-2	Net income (loss) from continuing operations represents loss before discontinued operations.

Business_and_Organization_Deta

Business and Organization (Details Textual) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Number		sqft
	sqft		Number
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'	'
Net gains from disposals	$0	$389,140,000	'
Collateralized Debt Obligations Accrued Interest	'	3.25%	'
Disposal Group Cash Proceeds On Disposal After Expenses	'	6,291,000	'
Percentage of occupancy for leased office and industrial property	99.00%	'	'
Number of Real Estate Properties	1	'	29
Area Of Land	115,472	'	3,987,631
Business Acquisition Purchase Price Allocation	6,300,000	'	'
Commercial Lease Properties [Member]	'	'	'
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'	'
Available For Sale Securities and Other Investments	$1,400,000,000	'	'

Significant_Accounting_Policie3

Significant Accounting Policies (Details) (Collateralized Debt Obligations Bonds [Member], USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Collateralized Debt Obligations Bonds [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Company carrying value-assets	$7,471	$6,762
Company carrying value - liabilities	0	0
Face value of assets held by the VIEs	1,943,810	2,156,218
Face value of liabilities issued by the VIEs	$1,758,716	$1,948,901

Significant_Accounting_Policie4

Significant Accounting Policies (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
	Number
Schedule of Trading Securities and Other Trading Assets [Line Items]	'
Retained Collateralized Debt Obligations, Number of Securities	9
Retained Collateralized Debt Obligations Bonds, Face Value	$358,880
Retained Collateralized Debt Obligations Bonds, Amortized Cost	8,356
Retained Collateralized Debt Obligations Bonds, Gross Unrealized Gain (Loss)	-885
Retained Collateralized Debt Obligations Bonds, Other than temporary impairment	0
Retained Collateralized Debt Obligations Bonds, Fair Value	7,471
Retained Collateralized Debt Obligations Bonds, Weighted Average Expected Life	'5 years 3 months 18 days
Held-to-maturity Securities [Member]	'
Schedule of Trading Securities and Other Trading Assets [Line Items]	'
Retained Collateralized Debt Obligations, Number of Securities	9
Retained Collateralized Debt Obligations Bonds, Face Value	358,880
Retained Collateralized Debt Obligations Bonds, Amortized Cost	8,356
Retained Collateralized Debt Obligations Bonds, Gross Unrealized Gain (Loss)	-885
Retained Collateralized Debt Obligations Bonds, Other than temporary impairment	0
Retained Collateralized Debt Obligations Bonds, Fair Value	$7,471
Retained Collateralized Debt Obligations Bonds, Weighted Average Expected Life	'5 years 3 months 18 days

Significant_Accounting_Policie5

Significant Accounting Policies (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]	'
Balance as of December 31, 2013 of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income	$2,002
Additions to credit losses:	'
On Retained CDO Bonds for which an OTTI was not previously recognized	0
On Retained CDO Bonds for which an OTTI was previously recognized and a portion of an other-than-temporary impairment was recognized in other comprehensive income	0
On Retained CDO Bonds for which an OTTI was previously recognized without any portion of other-than-temporary impairment recognized in other comprehensive income	0
Reduction for credit losses:	'
On Retained CDO Bonds for which no other-than-temporary impairment was recognized in other comprehensive income at current measurement date	0
On Retained CDO Bonds sold during the period	0
On Retained CDO Bonds charged off during the period	0
For increases in cash flows expected to be collected that are recognized over the remaining life of the Retained CDO Bonds	0
Balance as of March 31, 2014 of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income	$2,002

Significant_Accounting_Policie6

Significant Accounting Policies (Details 3) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Intangible assets:	'	'
Total intangible assets	$41,545	$40,960
Intangible liabilities:	'	'
Total intangible liabilities	5,939	6,077
Leases, Acquired-in-Place [Member]	'	'
Intangible assets:	'	'
Total intangible assets	33,411	32,773
Intangible liabilities:	'	'
Total intangible liabilities	5,939	6,077
Leases, Acquired-in-Place, Market Adjustment [Member]	'	'
Intangible assets:	'	'
Total intangible assets	$8,134	$8,187

Significant_Accounting_Policie7

Significant Accounting Policies (Details 4) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Other Assets [Member]	'
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]	'
April 1 to Demember 31, 2014	$325
2015	433
2016	397
2017	0
2018	0
Depreciation and Amortization Expense [Member]	'
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]	'
April 1 to Demember 31, 2014	2,329
2015	3,105
2016	3,105
2017	3,105
2018	3,105
Leases, Acquired-in-Place [Member]	'
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]	'
Weighted-Average Amortization Period	'12 years
April 1 to Demember 31, 2014	2,329
2015	3,105
2016	3,105
2017	3,105
2018	3,105
Above Market Leases [Member]	'
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]	'
Weighted-Average Amortization Period	'10 years 2 months 12 days
April 1 to Demember 31, 2014	657
2015	876
2016	876
2017	876
2018	876
Below Market Lease [Member]	'
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]	'
Weighted-Average Amortization Period	'13 years 1 month 6 days
April 1 to Demember 31, 2014	-368
2015	-491
2016	-491
2017	-491
2018	-491
Rental Revenue [Member]	'
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]	'
April 1 to Demember 31, 2014	289
2015	385
2016	385
2017	385
2018	385
Computer Software, Intangible Asset [Member] | Other Assets [Member]	'
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]	'
Weighted-Average Amortization Period	'2 years 9 months 18 days	[1]
April 1 to Demember 31, 2014	325	[1]
2015	433	[1]
2016	397	[1]
2017	0	[1]
2018	$0	[1]
[1]	The Company may capitalize additional costs incurred related to the purchase of internal use software during 2014.

Significant_Accounting_Policie8

Significant Accounting Policies (Details 5)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions [Line Items]	'	'
Dividend yield	2.50%	5.50%
Expected life of option	'5 years	'5 years
Risk free interest rate	1.81%	0.72%
Expected stock price volatility	41.00%	53.00%

Significant_Accounting_Policie9

Significant Accounting Policies (Details Textual) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Accounting Policies [Line Items]	'	'	'
Investment in joint ventures	$36,210,000	'	$39,385,000
Allowance for Doubtful Accounts Receivable	311,000	'	449,000
Amortization of Intangible Assets	756,000	95,000	'
Depreciation and Amortization, Discontinued Operations	0	3,000	'
Amortization Of Off Market Lease Unfavorable and Off Market Lease Favorable	-142,000	18,000	'
Amortization Of Intangible Assets and Liabilities Discontinued Operations	0	34,000	'
Weighted Average Number Of Shares, Restricted Stock	596,445	632,278	678,784
Management Fee Percentage	67.00%	68.00%	'
Income Tax Expense (Benefit)	369,000	405,000	'
Income Tax Expense (Benefit), Continuing Operations, Discontinued Operations, Extraordinary Items	0	2,515,000	'
Percentage Of Rental Revenue	19.00%	46.00%	'
Finite-Lived Intangible Assets, Accumulated Amortization	2,590,000	'	1,596,000
Asset management incentive fee	635,000	287,000	'
Reimbursement Revenue	681,000	109,000	'
Servicing Asset, Total	8,818,000	'	8,758,000
Derivative Instruments, Date of Test	'March 25, 2014	'	'
Restricted Cash and Cash Equivalents	455,000	'	179,000
Management Fees, Base Revenue	'	'	7,500,000
Management Fees Base Revenue One	'	'	9,000,000
Unamortization Of Software Cost	1,155,000	705,000	'
Minimum Percentage Of Ordinary Taxable Income To Stockholders	90.00%	'	'
Minimum [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Management Fee Percentage	'	'	10.00%
Maximum [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Management Fee Percentage	'	'	30.00%
Leases, Acquired-in-Place [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Finite-Lived Intangible Assets, Accumulated Amortization	2,074,000	'	1,318,000
Above Market Leases [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Finite-Lived Intangible Assets, Accumulated Amortization	516,000	'	278,000
Below Market Lease [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Finite Lived Intangible Liabilities Accumulated Amortization	396	'	300
Computer Software, Intangible Asset [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Amortization of Intangible Assets	108,000	0	'
Servicing Advances Receivable member [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Reimbursement Revenue	$6,000	$0	'
Building [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Property, Plant and Equipment, Useful Life	'40 years	'	'
Building Equipment And Fixtures [Member] | Minimum [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Property, Plant and Equipment, Useful Life	'5 years	'	'
Building Equipment And Fixtures [Member] | Maximum [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Property, Plant and Equipment, Useful Life	'10 years	'	'

Dispositions_and_Assets_Heldfo2

Dispositions and Assets Held-for-Sale (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Operating Results:	'		'
Interest expense	($2,345)		$0
Expense reimbursements	681		109
Net income (loss) from operations	-86		11,001
Gain on sale of joint venture interests to a director related entity	0		1,317
Net gains from disposals	0		389,140
Provision for taxes	0		-2,515
Net income from discontinued operations	-86		398,943
Assets Held-for-sale [Member]	'		'
Operating Results:	'		'
Revenues	15		33,516
Operating expenses	0		-3,548
Marketing, general and administrative	-101		-1,260
Interest expense	0		-14,653
Depreciation and amortization	0		-15
Loans held for sale and CMBS OTTI	0		-7,641
Expense reimbursements	0	[1]	5,406	[1]
Equity in net income from joint venture	0		-804
Net income (loss) from operations	-86		11,001
Gain on sale of joint venture interests to a director related entity	0		1,317
Net gains from disposals	0		389,140
Provision for taxes	0		-2,515
Net income from discontinued operations	($86)		$398,943
[1]	In the three months ended March 31, 2013, the Company received reimbursements for enforcement costs of $5,406 incurred on the behalf of a pari-passu lender for one loan held by the CDOs, which the Company incurred in prior years. The Company fully reserved for these costs when incurred due to the uncertainty of recovery.

Dispositions_and_Assets_Heldfo3

Dispositions and Assets Held-for-Sale (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Dispositions And Assets Held For Sale [Line Items]	'		'
Reimbursement Revenue	$681		$109
Assets Held-for-sale [Member]	'		'
Dispositions And Assets Held For Sale [Line Items]	'		'
Reimbursement Revenue	$0	[1]	$5,406	[1]
[1]	In the three months ended March 31, 2013, the Company received reimbursements for enforcement costs of $5,406 incurred on the behalf of a pari-passu lender for one loan held by the CDOs, which the Company incurred in prior years. The Company fully reserved for these costs when incurred due to the uncertainty of recovery.

Acquisitions_Details

Acquisitions (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013
	Number		Number
	sqft		sqft
Business Acquisition [Line Items]	'		'
Number of Properties	1		29
Number of Buildings	1		35
Square Feet	115,472		3,987,631
Purchase Price	$6,300		$340,786
Business Combination Weighted average Remaining Lease Term	'11 years 7 months 2 days	[1]	'11 years 3 months 11 days	[2]
Industrial/Warehouse [Member]	'		'
Business Acquisition [Line Items]	'		'
Number of Properties	1	[3]	23	[4],[5]
Number of Buildings	1	[3]	25	[4],[5]
Square Feet	115,472	[3]	3,683,184	[4],[5]
Purchase Price	6,300	[3]	261,416	[4],[5]
Business Combination Weighted average Remaining Lease Term	'11 years 7 months 2 days	[1],[3]	'11 years 1 month 20 days	[2],[4],[5]
Banking Center [Member]	'		'
Business Acquisition [Line Items]	'		'
Number of Properties	'		3
Number of Buildings	'		3
Square Feet	'		48,709
Purchase Price	'		7,120
Business Combination Weighted average Remaining Lease Term	'		'8 years 5 months 12 days	[2]
Specialty Asset [Member]	'		'
Business Acquisition [Line Items]	'		'
Number of Properties	'		3	[5]
Number of Buildings	'		7	[5]
Square Feet	'		255,738	[5]
Purchase Price	'		$72,250	[5]
Business Combination Weighted average Remaining Lease Term	'		'13 years 10 months 13 days	[2],[5]
[1]	Weighted-average lease term is based upon the remaining non-cancelable lease term as of March 31, 2014. The weighted-average calculation is based upon square footage.
[2]	Weighted-average lease term is based upon the remaining non-cancelable lease term as of December 31, 2013. The weighted-average calculation is based upon square footage.
[3]	The Company assumed a mortgage on its property acquisition in 2014. The unpaid principal value of the mortgage assumed at acquisition was $2,664. Refer to Note 6 for more information on the Companybs debt obligations related to acquisitions.
[4]	The industrial properties line includes a build-to-suit property located in Hialeah Gardens, Florida, which represents a commitment to construct an approximately 118,000 square foot cold storage facility which will be 100% leased for an initial term of 25 years when completed. The facility is currently being constructed. The Company acquired the land for the property with a $4,990 zero-coupon mortgage note payable to the seller. Total costs are expected to be approximately $25,000, of which the unfunded amounts were estimated to be $10,217 at March 31, 2014.
[5]	The Company assumed mortgages on two of its property acquisitions in 2013, one of which was on an industrial property and one of which was on a specialty asset. The unpaid principal value of the mortgages assumed at acquisition was $48,899. Refer to Note 6 for more information on the Companybs debt obligations related to acquisitions.

Acquisitions_Details_1

Acquisitions (Details 1) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]	'	'
Pro forma revenues	$15,649	$16,476
Pro forma net income (loss) available to common stockholders	($2,282)	$396,460
Pro forma earnings per common share-basic (in dollars per share)	($0.03)	$6.76
Pro forma earnings per common share-diluted (in dollars per share)	($0.03)	$6.76
Pro forma common shares-basic (in shares)	70,763,959	58,678,078
Pro forma common share-diluted (in shares)	70,763,959	58,678,078

Acquisitions_Details_Textual

Acquisitions (Details Textual) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
	sqft	sqft
Business Acquisition [Line Items]	'	'
Business Acquisition Area of Land	115,472	3,987,631
Percentage Of Land Leased	100.00%	'
Mortgage Note Payable	$4,990	'
Acquisition Costs Of Land	25,000	'
Unfunded Amount Towards Land Cost	10,217	'
Business Acquisition Real Estate Assets Fair Value	2,664	48,899
Revenue Towards Acquisition	56	10,724
Net Income Towards Acquisition	10	1,525
Lease Agreement Term	'25 years	'
Industrial Property [Member]	'	'
Business Acquisition [Line Items]	'	'
Business Acquisition Area of Land	118,000	'
Seven Property Investment [Member]	'	'
Business Acquisition [Line Items]	'	'
Business Acquisition Real Estate Assets	'	57,407
Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets	'	10,762
Business Acquisition Purchase Price Allocation Intangible Liabilities	'	3,520
Twenty-Two Property Investment [Member]	'	'
Business Acquisition [Line Items]	'	'
Business Acquisition Real Estate Assets	'	248,977
Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets	'	27,550
Business Acquisition Purchase Price Allocation Intangible Liabilities	'	2,236
One Property Investment [Member]	'	'
Business Acquisition [Line Items]	'	'
Business Acquisition Real Estate Assets	5,015	'
Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets	1,395	'
Business Acquisition Purchase Price Allocation Intangible Liabilities	$116	'

Investments_in_Joint_Ventures_1

Investments in Joint Ventures (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:	'	'
Other assets	$7,807	$7,030
Total assets	525,465	491,663
Liabilities and members' equity:	'	'
Other liabilities	934	852
Liabilities and members' equity	525,465	491,663
Corporate Joint Venture [Member]	'	'
Assets:	'	'
Real estate assets, net	300,756	305,798
Other assets	104,501	100,560
Total assets	405,257	406,358
Liabilities and members' equity:	'	'
Mortgages payable	241,000	241,000
Other liabilities	89,916	84,608
Members' equity	74,341	80,750
Liabilities and members' equity	$405,257	$406,358

Investments_in_Joint_Ventures_2

Investments in Joint Ventures (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Investments in and Advances to Affiliates [Line Items]	'		'
Interest	$2,345		$0
Total expenses	16,258		11,432
Net income (loss) from operations	-415	[1]	-3,766	[1]
Net gain (loss) on disposals	0		389,140
Net income (loss)	-501		395,177
Company's equity in net income (loss) within continuing operations	628		-1,188
Corporate Joint Venture [Member]	'		'
Investments in and Advances to Affiliates [Line Items]	'		'
Revenues	16,892		19,256
Operating expenses	8,167		9,738
Interest	2,790	[2]	6,931	[2]
Depreciation	4,540		4,895
Total expenses	15,497		21,564
Net income (loss) from operations	1,395		-2,308
Net gain (loss) on disposals	-221		0
Net income (loss)	1,174		-2,308
Company's equity in net income (loss) within continuing operations	628		-1,188
Company's equity in net income (loss) within discontinued operations	$0		($804)
[1]	Net income (loss) from continuing operations represents loss before discontinued operations.
[2]	The Bank of America Portfolio net loss includes a net loss of $0 and $2,048 for the three months ended March 31, 2014 and 2013, respectively, from a defeased mortgage acquired as part of the joint venturebs acquisition. The pool of treasury securities which defeased the mortgage loan generate sufficient cash flows to cover the debt service requirements, but do not generate income to offset the corresponding cash flows and interest expense.

Investments_in_Joint_Ventures_3

Investments in Joint Ventures (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	sqft		sqft
Investments in and Advances to Affiliates [Line Items]	'	'	'
Area of Land	115,472	'	3,987,631
Investment in joint ventures	$36,210	'	$39,385
Net Income (loss)	-501	395,177	'
Income (Loss) From Equity Method Investments	628	-1,188	'
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total	0	389,140	'
Bank Of America [Member]	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Real Estate Investments, Joint Ventures	36,210	'	39,385
Number Of Realty Properties	72	'	'
Philips Building [Member]	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Noncontrolling Interest, Ownership Percentage by Parent	25.00%	'	'
Area of Land	200,000	'	'
Percentage Of Net Leased To Related Party	100.00%	'	'
Investment in joint ventures	0	'	0
Net Income (loss)	103	30	'
Proceeds From Distributions Received From Joint Venture	103	103	'
Bank of America Portfolio [Member]	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Area of Land	3,150,000	'	'
Percentage Of Net Leased To Related Party	96.00%	'	'
Net Income (loss)	0	2,048	'
Equity Method Investment, Ownership Percentage	50.00%	'	'
Mortgage Loan To Finance Joint Venture Acquisition	200,000	'	'
Number Of Realty Properties Collateralized	67	'	'
Lease Expiration Description	'expiration dates through 2023	'	'
Income (Loss) From Equity Method Investments	525	-1,218	'
Proceeds From Distributions Received From Joint Venture	3,700	1,250	'
Proceeds from Divestiture of Businesses and Interests in Affiliates, Total	2,138	9,849	'
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total	4,578	'	'
Business Acquisition Real Estate Assets	460,012	'	'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	58,172	'	'
Business Acquisition Purchase Price Allocation Intangible Liabilities	$50,963	'	'
Portfolio Share Percentage	97.00%	'	'

Debt_Obligations_Details

Debt Obligations (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
	Number
Mortgage Notes Payable [Line Items]	'
Mortgage Notes Payable, Encumbered Properties	29
Mortgage Notes Payable, Balance	$124,341
Fixed Rate mortgages [Member]	'
Mortgage Notes Payable [Line Items]	'
Mortgage Notes Payable, Encumbered Properties	8
Mortgage Notes Payable, Balance	106,549
Mortgage Notes Payable, Minimum Interest Rate in Range	0.00%
Mortgage Notes Payable, Maximum Interest Rate in Range	6.95%
Mortgage Notes Payable, Weighted Average Effective Interest Rate	4.83%
Fixed Rate mortgages [Member] | Minimum [Member]	'
Mortgage Notes Payable [Line Items]	'
Mortgage Notes Payable, Maturity Date	30-Jun-14
Fixed Rate mortgages [Member] | Maximum [Member]	'
Mortgage Notes Payable [Line Items]	'
Mortgage Notes Payable, Maturity Date	30-Jun-29
Variable Rate mortgage [Member]	'
Mortgage Notes Payable [Line Items]	'
Mortgage Notes Payable, Encumbered Properties	1	[1],[2]
Mortgage Notes Payable, Balance	16,005	[1],[2]
Mortgage Notes Payable, Interest Rate in Range	'1 Month LIBOR + 2.10%	[1],[2]
Mortgage Notes Payable, Weighted Average Effective Interest Rate	2.29%	[1],[2]
Mortgage Notes Payable, Maturity Date	31-Dec-20	[1],[2]
Secured Credit Facility [Member]	'
Mortgage Notes Payable [Line Items]	'
Mortgage Notes Payable, Encumbered Properties	20	[1]
Mortgage Notes Payable, Balance	0	[1]
Mortgage Notes Payable, Interest Rate in Range	'1 Month LIBOR + 1.90%	[1]
Mortgage Notes Payable, Weighted Average Effective Interest Rate	2.06%	[1]
Mortgage Notes Payable, Maturity Date	30-Sep-15	[1]
Secured Financing [Member]	'
Mortgage Notes Payable [Line Items]	'
Mortgage Notes Payable, Encumbered Properties	29
Mortgage Notes Payable, Balance	122,554
Above Below Market Interest [Member]	'
Mortgage Notes Payable [Line Items]	'
Mortgage Notes Payable, Balance	$1,787
[1]	All of the Companybs variable-rate financings are monthly LIBOR plus a fixed spread.
[2]	This mortgage is hedged by an interest rate swap which has a maturity date of December 2020. Refer to Note 1 for further information on hedging and the Companybs derivative instruments.

Debt_Obligations_Details_1

Debt Obligations (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Long-term Debt Maturities [Line Items]	'
Interest Payments	$60,464	[1]
Total	298,018
Debt Instrument, Redemption, Period One [Member]	'
Long-term Debt Maturities [Line Items]	'
Interest Payments	6,303	[1]
Total	13,321
Debt Instrument, Redemption, Period Two [Member]	'
Long-term Debt Maturities [Line Items]	'
Interest Payments	9,694	[1]
Total	12,516
Debt Instrument, Redemption, Period Three [Member]	'
Long-term Debt Maturities [Line Items]	'
Interest Payments	9,554	[1]
Total	12,510
Debt Instrument, Redemption, Period Four [Member]	'
Long-term Debt Maturities [Line Items]	'
Interest Payments	9,392	[1]
Total	12,501
Debt Instrument, Redemption, Period Five [Member]	'
Long-term Debt Maturities [Line Items]	'
Interest Payments	9,017	[1]
Total	25,071
Debt Instrument Redemption Period Thereafter [Member]	'
Long-term Debt Maturities [Line Items]	'
Interest Payments	20,662	[1]
Total	226,257
Debt Instrument Redemption Period Above Below Market Interest [Member]	'
Long-term Debt Maturities [Line Items]	'
Interest Payments	-4,158	[1],[2]
Total	-4,158	[2]
Credit Facility [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Credit Facility [Member] | Debt Instrument, Redemption, Period One [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Credit Facility [Member] | Debt Instrument, Redemption, Period Two [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Credit Facility [Member] | Debt Instrument, Redemption, Period Three [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Credit Facility [Member] | Debt Instrument, Redemption, Period Four [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Credit Facility [Member] | Debt Instrument, Redemption, Period Five [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Credit Facility [Member] | Debt Instrument Redemption Period Thereafter [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Credit Facility [Member] | Debt Instrument Redemption Period Above Below Market Interest [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0	[2]
Mortgage Notes Payable [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	122,554
Mortgage Notes Payable [Member] | Debt Instrument, Redemption, Period One [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	7,018
Mortgage Notes Payable [Member] | Debt Instrument, Redemption, Period Two [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	2,822
Mortgage Notes Payable [Member] | Debt Instrument, Redemption, Period Three [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	2,956
Mortgage Notes Payable [Member] | Debt Instrument, Redemption, Period Four [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	3,109
Mortgage Notes Payable [Member] | Debt Instrument, Redemption, Period Five [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	16,054
Mortgage Notes Payable [Member] | Debt Instrument Redemption Period Thereafter [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	90,595
Mortgage Notes Payable [Member] | Debt Instrument Redemption Period Above Below Market Interest [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0	[2]
Exchangeable Senior Notes [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	115,000
Exchangeable Senior Notes [Member] | Debt Instrument, Redemption, Period One [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Exchangeable Senior Notes [Member] | Debt Instrument, Redemption, Period Two [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Exchangeable Senior Notes [Member] | Debt Instrument, Redemption, Period Three [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Exchangeable Senior Notes [Member] | Debt Instrument, Redemption, Period Four [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Exchangeable Senior Notes [Member] | Debt Instrument, Redemption, Period Five [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	0
Exchangeable Senior Notes [Member] | Debt Instrument Redemption Period Thereafter [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	115,000
Exchangeable Senior Notes [Member] | Debt Instrument Redemption Period Above Below Market Interest [Member]	'
Long-term Debt Maturities [Line Items]	'
Debt Instrument, Periodic Payment, Principal	$0	[2]
[1]	Interest payment amounts represent interest payments due to holders of the exchangeable senior notes in addition to the monthly interest payments due on the mortgage notes payable.
[2]	Above / below market interest includes the discount on the exchangeable senior notes as well as the premium on the mortgage notes payable, both net of amortization.

Debt_Obligations_Details_Textu

Debt Obligations (Details Textual) (USD $)	3 Months Ended				1 Months Ended			1 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 18, 2014	Apr. 30, 2014	31-May-14	Apr. 23, 2014	Feb. 28, 2014	Mar. 18, 2014	Mar. 31, 2014
			Exchangeable Senior Notes [Member]	Exchangeable Senior Notes [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	non-recourse mortgage loan [Member]	non-recourse mortgage loan [Member]	Senior Secured Revolving Credit Facility [Member]
								sqft
Debt Obligation [Line Items]	'	'	'	'	'	'	'	'	'	'
Line of Credit Facility, Current Borrowing Capacity	'	'	'	'	'	'	'	'	'	$100,000
Line of Credit Facility, Maximum Borrowing Capacity	150,000	'	'	'	'	'	'	'	'	'
Line of Credit Facility, Borrowing Capacity, Description	'(i) the sum of the $100,000 revolving commitment and the maximum $50,000 commitment increase available or (ii) 60.0% of the value of the Borrowing Base.	'	'	'	'	'	'	'	'	'
Line of Credit Facility, Interest Rate Description	'(i) LIBOR plus the applicable LIBOR margin, or (ii) the applicable base rate which is the greater of the Prime Rate, 0.50% above the Federal Funds Rate, or 30-day LIBOR plus 1.00%. The applicable LIBOR margin will range from 1.90% to 2.75%, depending on the ratio of the Company's outstanding consolidated indebtedness to the value of the Companys consolidated gross assets. The Credit Facility has an initial borrowing rate of LIBOR plus 1.90%.	'	'	'	'	'	'	'	'	'
Debt Instrument, Maturity Date	'	'	15-Mar-19	'	31-Aug-28	'	'	31-Oct-20	'	'
Interest Costs Capitalized	39	0	'	'	'	'	'	'	'	'
Line of Credit Facility, Amount Outstanding	124,341	'	'	'	'	'	'	'	'	'
Percentage Of Land Leased	100.00%	'	'	'	'	100.00%	100.00%	100.00%	100.00%	'
Area of Real Estate Property	'	'	'	'	'	'	'	115,472	'	'
Mortgage Loan Face Amount	'	'	'	'	'	'	'	2,664	'	'
Derivative, Fixed Interest Rate	'	'	'	'	'	'	'	5.25%	'	'
Line of Credit Facility, Fair Value of Amount Outstanding	0	'	'	'	'	'	'	'	'	'
Accordion Feature Exercised, Amount	50,000	'	'	'	'	'	'	'	'	'
Mortgage Loan fair value	'	'	'	'	'	'	'	2,657	'	'
Debt Instrument, Face Amount	'	'	'	115,000	'	'	'	'	'	'
Debt Instrument, Interest Rate, Stated Percentage	'	'	'	3.75%	'	'	'	'	'	'
Notes Payable, Fair Value Disclosure	'	'	'	109,032	'	'	'	'	'	'
Debt Instrument, Unamortized Discount (Premium), Net, Total	'	'	'	5,968	'	'	'	'	'	'
Notes Payable, Noncurrent, Total	'	'	109,055	'	'	'	'	'	'	'
Percentage of Common Stock that Holders will be Eligible to Receive Upon Exchange of Notes	'	'	19.99%	'	'	'	'	'	'	'
Debt Instrument Convertible principal amount Debt Submitted for Exchange	'	'	$1,000	'	'	'	'	'	'	'
Debt Instrument, Convertible, Terms of Conversion Feature	'	'	'The Notes have initial exchange rate of 161.1863 shares of the Companys common stock per $1,000 principal amount of the Notes, representing an exchange price of approximately $6.20 per share of the Companys common stock and an exchange premium of approximately 20% based on the last reported sale price of $5.17 per share of the Companys common stock on March 18, 2014.	'	'	'	'	'	'	'
Debt Instrument, Convertible, Earliest Date	'	'	15-Dec-18	'	'	'	'	'	'	'

Leasing_Agreements_Details

Leasing Agreements (Details) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Leasing Agreements [Line Items]	'
April 1 through December 31, 2014	$22,459
2015	30,892
2016	31,197
2017	31,554
2018	32,099
Thereafter	288,358
Total minimum lease rental income	$436,559

Leasing_Agreements_Details_Tex

Leasing Agreements (Details Textual)	3 Months Ended
	Mar. 31, 2014
Leasing Agreements [Line Items]	'
Operating Losses Carryforwards Expiration Date	'expiration dates extending through the year 2032

Transactions_with_Director_Rel1

Transactions with Director Related Entities (Details Textual) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	sqft	sqft	Slg Graybar Sublease Llc [Member]	Slg Graybar Sublease Llc [Member]	Fifth Fee Owner Llc [Member]	Fifth Fee Owner Llc [Member]	Fifth Fee Owner Llc [Member]	Fifth Fee Owner Llc [Member]
					sqft		Minimum [Member]	Maximum [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'
Business Acquisition Area of Land	115,472	3,987,631	'	'	6,580	'	'	'
Lease Term	'	'	'	'	'10 years	'	'	'
Operating Leases, Rent Expense, Net	'	'	'	'	'	'	$373	$463
Payment Of Lease Rent	'	'	$0	$118	$92	$0	'	'

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Financial assets:	'		'
Derivative instruments, Carrying Value	$6,296	[1]	$187	[1]
Derivative instruments, Fair Value	6,296	[1]	187	[1]
Retained CDO Bonds, Carrying Value	7,471	[2],[3]	6,762	[2],[3]
Retained CDO Bonds, Fair Value	7,471	[2],[3]	6,762	[2],[3]
Financial liabilities:	'		'
Mortgage notes payable, Carrying Value	124,341	[2]	122,180	[2]
Mortgage notes payable, Fair Value	124,785	[2]	123,349	[2]
Contingent Value Rights, Carrying Value	0	[4]	115	[4]
Contingent Value Rights, Fair Value	0	[4]	115	[4]
Exchangeable senior notes, Carrying Value	109,055	[5]	0	[5]
Exchangeable senior notes, Fair value	$109,055	[5]	$0	[5]
[1]	Derivative instruments include the $5,968 embedded exchange option related to the 3.75% Exchangeable Senior Notes as well as $328 related to the interest rate swaps.
[2]	Mortgages notes payable and Retained CDO Bonds are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions.
[3]	Retained CDO Bonds represent the CDOsb subordinate bonds, preferred shares, and ordinary shares, which were retained subsequent to the disposal of Gramercy Finance and were previously eliminated in consolidation.
[4]	Pursuant to the Companybs private placement of equity, the Company entered into contingent value right agreements, or CVR agreements, with purchasers of the Companybs common stock. The CVR agreements entitled each purchaser to cash payment contingent on the Companybs stock price, as follows: On April 1, 2014, the purchasers are entitled to cash payment of (a) the number of their contingent values rights multiplied by (b) the amount, not to exceed $0.46, equal to the difference between the share price at time of purchase, $4.11, and the volume-weighted average price for the time trading days ending on and including March 25, 2014. The CVR agreements expired on March 25, 2014 with no value.
[5]	The Company issued $115,000 of 3.75% Exchangeable Senior Notes, which are senior unsecured obligations guaranteed by the Company on a senior unsecured basis. The Notes are carried at their fair value, which was determined based a discounted cash flows valuation, using discount rates that best reflect current market rates for unsecured financing with similar characteristics. The Notes are classified as Level III. Refer to Note 6 for more information.

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Details 1) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Assets:	$6,296	[1]	$187	[1]
Retained CDO Bonds:	7,471		6,762
Financial Liabilities:	6,295		302
Contingent Value Rights, Fair Value	0	[2]	115	[2]
Fair Value, Inputs, Level 1 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Assets:	0		0
Retained CDO Bonds:	0		0
Financial Liabilities:	0		0
Contingent Value Rights, Fair Value	'		0
Fair Value, Inputs, Level 2 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Assets:	0		0
Retained CDO Bonds:	0		0
Financial Liabilities:	0		0
Contingent Value Rights, Fair Value	'		0
Fair Value, Inputs, Level 3 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Assets:	7,471		6,762
Retained CDO Bonds:	7,471		6,762
Financial Liabilities:	6,296		302
Contingent Value Rights, Fair Value	'		115
Interest Rate Swap [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Liabilities:	328		187
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Liabilities:	0		0
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Liabilities:	0		0
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Liabilities:	328		187
Exchangeable Senior Notes [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Liabilities:	5,968		'
Exchangeable Senior Notes [Member] | Fair Value, Inputs, Level 1 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Liabilities:	0		'
Exchangeable Senior Notes [Member] | Fair Value, Inputs, Level 2 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Liabilities:	0		'
Exchangeable Senior Notes [Member] | Fair Value, Inputs, Level 3 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Financial Liabilities:	$5,968		'
[1]	Derivative instruments include the $5,968 embedded exchange option related to the 3.75% Exchangeable Senior Notes as well as $328 related to the interest rate swaps.
[2]	Pursuant to the Companybs private placement of equity, the Company entered into contingent value right agreements, or CVR agreements, with purchasers of the Companybs common stock. The CVR agreements entitled each purchaser to cash payment contingent on the Companybs stock price, as follows: On April 1, 2014, the purchasers are entitled to cash payment of (a) the number of their contingent values rights multiplied by (b) the amount, not to exceed $0.46, equal to the difference between the share price at time of purchase, $4.11, and the volume-weighted average price for the time trading days ending on and including March 25, 2014. The CVR agreements expired on March 25, 2014 with no value.

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments (Details 2) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	31-May-14	Mar. 31, 2014
In Thousands, unless otherwise specified					Interest Rate Swap [Member]	Exchangeable Senior Notes [Member]	Collateralized Debt Obligations Bonds [Member]	Minimum [Member]	Maximum [Member]
								Collateralized Debt Obligations Bonds [Member]	Collateralized Debt Obligations Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'		'	'	'	'	'
Retained CDO Bonds, Fair Value	$7,471	[1],[2]	$6,762	[1],[2]	$328	$5,968	$7,471	'	'
Retained CDO Bonds, Valuation Technique	'		'		'Hypothetical derivative method	'Discounted cash flows	'Discounted cash flows	'	'
Retained CDO Bonds, Unobservable Inputs	'		'		'Credit borrowing spread	'Discount rate	'Discount rate	'	'
Retained CDO Bonds, Range	'		'		'	5.00%	'	25.00%	40.00%
Retained Collateralized Debt Obligations Bonds Discount Base Points	'		'		'150 to 250 basis points	'	'	'	'
[1]	Mortgages notes payable and Retained CDO Bonds are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions.
[2]	Retained CDO Bonds represent the CDOsb subordinate bonds, preferred shares, and ordinary shares, which were retained subsequent to the disposal of Gramercy Finance and were previously eliminated in consolidation.

Fair_Value_of_Financial_Instru5

Fair Value of Financial Instruments (Details 3) (Collateralized Debt Obligations Bonds [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Collateralized Debt Obligations Bonds [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Balance as of December 31, 2013	$6,762
Amortization of discounts or premiums	375
Adjustments to fair value:	'
Included in other comprehensive income	334
Other-than-temporary impairments	0
Balance as of March 31, 2014	$7,471

Fair_Value_of_Financial_Instru6

Fair Value of Financial Instruments (Details 4) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Dec. 31, 2013	Mar. 31, 2014
In Thousands, unless otherwise specified					Fair Value, Inputs, Level 3 [Member]	Fair Value, Inputs, Level 3 [Member]
						Derivative Financial Instruments, Assets [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'		'	'
Balance as of December 31, 2013	'		'		'	$302
Adjustments to fair value:	'		'		'	'
Unrealized loss	'		'		'	141
Embedded conversion option of the 3.75% exchangeable senior notes	7,471	[1],[2]	6,762	[1],[2]	'	5,968
Expiration of Contingent Value Rights	0	[3]	115	[3]	115	-115
Balance as of March 31, 2014	'		'		'	$6,296
[1]	Mortgages notes payable and Retained CDO Bonds are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions.
[2]	Retained CDO Bonds represent the CDOsb subordinate bonds, preferred shares, and ordinary shares, which were retained subsequent to the disposal of Gramercy Finance and were previously eliminated in consolidation.
[3]	Pursuant to the Companybs private placement of equity, the Company entered into contingent value right agreements, or CVR agreements, with purchasers of the Companybs common stock. The CVR agreements entitled each purchaser to cash payment contingent on the Companybs stock price, as follows: On April 1, 2014, the purchasers are entitled to cash payment of (a) the number of their contingent values rights multiplied by (b) the amount, not to exceed $0.46, equal to the difference between the share price at time of purchase, $4.11, and the volume-weighted average price for the time trading days ending on and including March 25, 2014. The CVR agreements expired on March 25, 2014 with no value.

Fair_Value_of_Financial_Instru7

Fair Value of Financial Instruments (Details Textual) (USD $)	0 Months Ended	3 Months Ended			3 Months Ended
In Thousands, unless otherwise specified	Mar. 15, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013
			Interest Rate Swap [Member]	Exchangeable Senior Notes [Member]	Loan Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'	'	'
Impairment of Long-Lived Assets to be Disposed of	'	'	'	'	$882
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Total	10,100	141	'	'	'
Business Combination, Contingent Stock Price, Description	'	'The CVR agreements entitled each purchaser to cash payment contingent on the Companys stock price, as follows: On April 1, 2014, the purchasers are entitled to cash payment of (a) the number of their contingent values rights multiplied by (b) the amount, not to exceed $0.46, equal to the difference between the share price at time of purchase, $4.11, and the volume-weighted average price for the time trading days ending on and including March 25, 2014	'	'	'
Debt Instrument, Face Amount	'	'	'	115,000	'
Debt Instrument, Interest Rate, Stated Percentage	'	'	'	3.75%	'
Derivative, Fair Value, Net, Total	'	($6,296)	$328	($5,968)	'

Derivative_Instruments_Details

Derivative Instruments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Derivative [Line Items]	'
Derivative, Notional Amount	$40,005
Derivative, Fair Value, Net, Total	-6,296
Interest Rate Swap [Member]	'
Derivative [Line Items]	'
Derivative, Benchmark Rate	'1 mo. USD-LIBOR-BBA
Derivative, Notional Amount	16,005
Derivative, Strike Rate	4.55%
Derivative, Fair Value, Net, Total	-328
Derivative, Inception Date	19-Dec-13
Derivative, Maturity Date	19-Dec-20
Interest Rate Cap [Member]	'
Derivative [Line Items]	'
Derivative, Benchmark Rate	'1 mo. USD-LIBOR-BBA
Derivative, Notional Amount	24,000
Derivative, Strike Rate	5.00%
Derivative, Fair Value, Net, Total	0
Derivative, Inception Date	19-Jul-11
Derivative, Maturity Date	9-Aug-14
Exchangeable Senior Notes [Member]	'
Derivative [Line Items]	'
Derivative, Benchmark Rate	'N/A
Derivative, Notional Amount	0
Derivative, Strike Rate	0.00%
Derivative, Fair Value, Net, Total	($5,968)
Derivative, Inception Date	18-Mar-14
Derivative, Maturity Date	15-Mar-19

Derivative_Instruments_Details1

Derivative Instruments (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Derivative [Line Items]	'	'
Derivative Liability, Fair Value, Amount Not Offset Against Collateral, Total	$6,296	$173,450
Derivative Liability Contingent Value Rights Description	'As described in Note 6 and Note 9, the embedded exchange option value of the Company’s 3.75% Exchangeable Senior Notes is recorded as a derivative liability due to an NYSE related limitation on the use of share-settlement for the full exchange option without shareholder approval, which prevents it from qualifying for equity classification as of March 31, 2014. Thus, this component, which represents the original discount on the debt issued as a result of the exchange rights and approximates the fair value of the option feature, is included within derivative liabilities as of March 31, 2014. See Note 6 and Note 9 for further information.	'

Stockholders_Equity_Deficit_De

Stockholders' Equity (Deficit) (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Numerator-Income (loss)	'	'	'
Net income (loss) from continuing operations	($415)	($3,766)	'
Net income (loss) from discontinued operations	-86	398,943	'
Net Income (loss)	-501	395,177	'
Preferred stock dividends	-1,790	-1,790	'
Excess of carrying amount of tendered preferred stock over consideration paid	0	0	'
Numerator for basic income per share - Net income (loss) available to common stockholders:	-2,291	393,387	'
Effect of dilutive securities	0	0	'
Diluted Earnings:	'	'	'
Net income (loss) available to common stockholders	($2,291)	$393,387	'
Denominator-Weighted Average shares:	'	'	'
Weighted average shares outstanding (in shares)	71,360,404	59,310,356	'
Less: Unvested restricted shares (in shares)	-596,445	-632,278	-678,784
Denominator for basic income per share (in shares)	70,763,959	58,678,078	'
Effect of dilutive securities	'	'	'
LTIP (in shares)	0	0	'
Stock based compensation plans (in shares)	0	0	'
Phantom stock units (in shares)	0	0	'
Exchangeable senior notes (in shares)	0	0	'
Diluted shares (in shares)	70,763,959	58,678,078	'

Stockholders_Equity_Deficit_De1

Stockholders' Equity (Deficit) (Details 1) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'
Net realized and unrealized losses on interest rate swap and cap agreements accounted for as cash flow hedges	($141)	'	$0
Net unrealized loss on available-for-sale securities	0	'	0
Net unrealized gain on debt securities	334	'	0
Total accumulated other comprehensive income	($1,212)	($1,405)	$0

Stockholders_Equity_Deficit_De2

Stockholders' Equity (Deficit) (Details Textual) (USD $)

3 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2008

Dec. 31, 2013

Dec. 31, 2012

Oct. 31, 2013

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Mar. 31, 2014

Dec. 31, 2012

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Purchase Agreement [Member]

June 30, 2016 [Member]

June 30, 2017 [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

Phantom Share Units [Member]

Phantom Share Units [Member]

Equity Option [Member]

Equity Option [Member]

Exhangeable Senior Notes [Member]

Time Based Restricted Stock [Member]

Performance Based Restricted Stock [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

2012 Outperformance Plan [Member]

2012 Outperformance Plan [Member]

2012 Outperformance Plan [Member]

Series A Preferred Stock [Member]

Schedule of Stockholders Equity Stock Option [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Capital Stock Authorized

200,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Capital Stock Par Value

$0.00

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares authorized

100,000,000

'

'

100,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common Stock, Par or Stated Value Per Share

$0.00

'

'

$0.00

'

$4.11

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Shares Authorized

3,525,822

'

'

3,525,822

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Par or Stated Value Per Share

$0.00

'

'

$0.00

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common Stock, shares issued

71,409,485

'

'

71,313,043

'

11,535,200

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Shares Issued

3,525,822

'

'

3,525,822

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Shares Outstanding

3,525,822

'

'

3,525,822

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends, Preferred Stock, Cash

$1,512

'

'

$37,600

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Dividends, Per Share, Cash Paid

$0.04

'

$0.51

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0.51

Allocated Share-based Compensation Expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

144

118

147

118

'

'

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

'

'

'

'

'

'

'

'

'

'

'

551,560

490,637

65,145

40,073

14,274,756

'

'

'

'

'

'

'

'

Stock Issued During Period, Shares, New Issues

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,929,676

'

'

'

'

'

Weighted Average Number Of Shares, Restricted Stock

596,445

632,278

'

678,784

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,872,872

'

'

'

'

'

Share Based Compensation Expense Remaining Weighted Average Vesting Period

1,796

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,815

'

'

'

'

'

Incentive Earnings Percentage First Year

'

'

'

'

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Incentive Earnings Percentage Second Year

'

'

'

'

24.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Incentive Earnings Percentage Third Year

'

'

'

'

36.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Actual Incentive Earned Percentage

'

'

'

'

'

'

'

'

20.00%

100.00%

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares Vesting Percentage

'

'

'

'

'

'

50.00%

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number

'

'

'

'

'

'

'

'

'

'

'

540,060

'

'

'

'

'

'

'

'

'

'

'

'

Unamortized Fair Value Of Terminated Swaps

'

6,359

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance

'

'

'

'

'

'

'

'

'

'

'

551,560

'

'

'

'

'

'

'

'

'

'

'

'

Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Maximum Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,000

'

Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Fair Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

845

'

Long Term Incentive Plan Fair Value Of Grant

'

'

'

'

1,870

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Issuance of Common Stock

-53

0

'

'

'

47,410

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock Dividend Rate Percentage

'

'

'

8.13%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends Payable, Amount Per Share

'

'

'

$10.24

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Excess Stock, Shares Authorized

25,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Excess Stock Par Or Stated Value Per Share

$0.00

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity Incentive Vested Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

87.00%

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

115,000

345,000

'

'

'

'

'

'

Unrealized Gain On Collateralized Mortgage Securities

'

$107,774

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'5 years

'

'

'

'

'

'

'

Share Based Compensation Arrangement By Share Based Payment Award Share Price Description

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'The amount of LTIP units actually earned by the executives under the 2012 Outperformance Plan can range from 20% of the maximum amount if the Companys common stock price equals a minimum hurdle of $5.00 per share (less any dividends paid during the performance period) to 100% of the maximum amount if the Companys common stock price equals or exceeds $9.00 per share (less any dividends paid during the performance period) on a valuation date during the four-year performance period. The executives will not earn any LTIP units under the 2012 Outperformance Plan to the extent that the Companys common stock price on each of the four valuation dates is less than the $5.00 per share minimum hurdle.

'

'

Common Stock, Shares Outstanding

71,409,485

'

'

71,313,043

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Commitments_and_Contingencies_

Commitments and Contingencies (Details Textual) (USD $)	1 Months Ended	3 Months Ended			3 Months Ended				1 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2010	Dec. 31, 2010	Dec. 31, 2010
					Jenkintown, Pennsylvania, 610 Old York Road [Member]	Horsham, Pennsylvania, 550 Blair Mill Road [Member]	Clayton Missouri, 130 South Bemiston Ave [Member]	St. Louis, Missouri, 800 Market Street [Member]	Herald Square Property [Member]	NYC DOF [Member]	NYS DOT [Member]
					acre	acre	acre	acre
Commitments And Contingencies [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Description of Lessee Leasing Arrangements, Operating Leases	'The lease is for approximately 6,580 square feet and carries a term of 10 years with rents of approximately $373 per annum for year one rising to $463 per annum in year ten.	'	'	'	'	'	'	'	'	'	'
Description Of Tenant Leasing Arrangements Of Expansion	'	'The Company is obligated under certain tenant leases, to construct the underlying leased property or fund tenant expansions. As of March 31, 2014, the Company had four outstanding commitments: (1) the construction of a 118,000 square foot cold storage facility located in Hialeah Gardens, Florida, of which the unfunded amounts were estimated to be $10,217; (2) the contribution of $1,500 towards tenant improvements on a warehouse/industrial property in Garland, Texas, of which the unfunded amounts were estimated to be $854; (3) the expansion of a property located in Olive Branch, Mississippi, whereby the tenant has a one-time option to expand the building by 250,000 square feet; and (4) the expansion of a property located in Logan Township, New Jersey, whereby the tenant has a one-time option to expand the building by 25,000 square feet. The tenants have not noticed the Company for the building expansion options and as such, no amounts are due and no unfunded amounts have been estimated.	'	'	'	'	'	'	'	'	'
Noncontrolling Interest, Ownership Percentage By Parent	'	'	'	'	'	'	'	'	45.00%	'	'
Mortgage Debt	'	'	'	'	'	'	'	'	$86,100	'	'
Real Estate Tax Expense	'	'	'	'	'	'	'	'	'	2,924	446
Proceeds from Divestiture of Interest in Joint Venture	'	0	8,275	'	'	'	'	'	25,600	'	'
Land Subject to Ground Leases	'	'	'	'	19,000	13,000	1,100	2,000	'	'	'
Lease Expiration Date	'	'	'	'	30-Apr-14	30-Apr-18	31-Dec-16	30-Sep-14	'	'	'
Operating Leases, Rent Expense, Net, Total	'	'	'	'	322	151	'	32	'	'	'
Operating Leases, Future Minimum Payments Due, Next Twelve Months	'	'	'	'	'	'	21	'	'	'	'
Operating Leases, Future Minimum Payments, Due in Four Years	'	'	'	'	'	221	'	'	'	'	'
Lessee Leasing Arrangements, Operating Leases, Renewal Term	'	'	'	'	'	'	'12 months	'	'	'	'
Operating Leases, Future Minimum Payments, Due in Three Years	'	'	'	'	'	'	22	'	'	'	'
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	'	'	'	4,339	'	'	'	'	'	'	'
Income Tax Examination, Penalties Accrued	'	4,406	'	4,339	'	'	'	'	'	'	'
Income Tax Examination, Interest Accrued	'	$67	'	'	'	'	'	'	'	'	'

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Tax Examination [Line Items]	'	'
Minimum Percentage Of Ordinary Taxable Income To Stockholders	90.00%	'
Total income tax benefit (provision)	$369	$405
Provision for taxes	$0	$2,515

Segment_Reporting_Details

Segment Reporting (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013		Dec. 31, 2013
Segment Reporting Information [Line Items]	'		'		'
Total revenues	$15,584		$9,259		'
Equity in net loss from unconsolidated joint ventures	628		-1,188		'
Total operating and interest expense	-16,627	[1]	-11,837	[1]	'
Net income (loss) from continuing operations	-415	[2]	-3,766	[2]	'
Assets:	'		'		'
Total assets	525,465		'		491,663
Assets Management [Member]	'		'		'
Segment Reporting Information [Line Items]	'		'		'
Total revenues	6,965		8,315		'
Equity in net loss from unconsolidated joint ventures	0		0		'
Total operating and interest expense	-6,462	[1]	-7,088	[1]	'
Net income (loss) from continuing operations	503	[2]	1,227	[2]	'
Assets:	'		'		'
Total assets	10,365		'		12,950
Invesments / Corporate [Member]	'		'		'
Segment Reporting Information [Line Items]	'		'		'
Total revenues	8,619		944		'
Equity in net loss from unconsolidated joint ventures	628		-1,188		'
Total operating and interest expense	-10,165	[1]	-4,749	[1]	'
Net income (loss) from continuing operations	-918	[2]	-4,993	[2]	'
Assets:	'		'		'
Total assets	$515,100		'		$478,713
[1]	Total operating and interest expense includes operating costs on commercial property assets for the Investments segment and costs to perform required functions under the management agreement for the Asset Management segment. Depreciation and amortization of $3,385 and $337 and provision for taxes of $369 and $405 for the three months ended March 31, 2014 and 2013, respectively, are included in the amounts presented above.
[2]	Net income (loss) from continuing operations represents loss before discontinued operations.

Segment_Reporting_Details_Text

Segment Reporting (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Depreciation and amortization	$3,385	$337
Total income tax benefit (provision)	$369	$405

Subsequent_Events_Details_Text

Subsequent Events (Details Textual) (USD $)	3 Months Ended			1 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	31-May-14	Apr. 30, 2014	Apr. 23, 2014
	sqft		sqft	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]
				acre		acre
Subsequent Event [Line Items]	'	'	'	'	'	'
Area Of Land	115,472	'	3,987,631	183,200	'	112,325
Payments to Acquire Real Estate, Total	$3,636	$44,320	'	$8,330	$10,350	'
Percentage Of Land Leased	100.00%	'	'	100.00%	'	100.00%
Debt Instrument, Maturity Date	'	'	'	'	31-Aug-28	'
Lessor Leasing Arrangements, Operating Leases, Term of Contract	'	'	'	'11 years	'	'