Colony Capital 10-K 27 Feb 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Billions, except Share data, unless otherwise specified	Dec. 31, 2013	Feb. 27, 2014	Jun. 28, 2013
Document and Entity Information [Abstract]	'	'	'
Entity Registrant Name	'COLONY FINANCIAL, INC.	'	'
Entity Central Index Key	'0001467076	'	'
Document Type	'10-K	'	'
Document Period End Date	31-Dec-13	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'
Trading Symbol	'CLNY	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Well-known Seasoned Issuer	'Yes	'	'
Entity Common Stock, Shares Outstanding	'	77,409,374	'
Entity Public Float	'	'	$1.30

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
ASSETS	'	'
Cash	$43,167	$170,199
Investments in unconsolidated joint ventures	1,369,529	877,081
Loans held for investment, net	1,028,654	333,569
Real estate assets, net	112,468	0
Beneficial interests in debt securities, available-for-sale, at fair value	30,834	32,055
Other assets	43,900	22,663
Total assets	2,628,552	1,435,567
Liabilities:	'	'
Line of credit	138,500	0
Secured financing	277,607	108,167
Accrued and other liabilities	18,105	12,944
Due to affiliates	7,986	4,984
Dividends payable	32,127	26,442
Convertible senior notes	200,000	0
Total liabilities	674,325	152,537
Commitments and contingencies (Note 17)	'	'
Stockholders' equity:	'	'
Preferred stock, $0.01 par value, 8.5% Series A Cumulative Redeemable Perpetual, liquidation preference of $25 per share, 50,000,000 shares authorized, 10,080,000 shares issued and outstanding	101	101
Common stock, $0.01 par value, 450,000,000 shares authorized, 76,492,225 and 53,091,623 shares issued and outstanding, respectively	765	531
Additional paid-in capital	1,701,274	1,222,682
Distributions in excess of earnings	-20,423	-5,167
Accumulated other comprehensive income	2,593	5,184
Total stockholders’ equity	1,684,310	1,223,331
Noncontrolling interests	269,917	59,699
Total equity	1,954,227	1,283,030
Total liabilities and equity	$2,628,552	$1,435,567

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	76,492,225	53,091,623
Common stock, shares outstanding	76,492,225	53,091,623
Preferred stock, dividend percentage	'	8.50%
Series A Preferred Stock	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, dividend percentage	8.50%	8.50%
Preferred stock, liquidation preference (in dollars per share)	$25	$25
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	10,080,000	10,080,000
Preferred stock, shares outstanding	10,080,000	10,080,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	1 Months Ended	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income	'	'	'	'	'	'	'	'	'	'	'	'
Equity in income (loss) of unconsolidated joint ventures	'	$30,862	$25,052	$22,992	$21,802	$21,464	$15,838	$15,994	$15,441	$100,708	$68,737	$46,720
Interest income	'	26,486	22,122	17,455	11,412	10,752	10,816	9,051	5,826	77,475	36,445	16,775
Rental income and tenant reimbursements	'	789	0	0	0	0	0	0	0	789	0	0
Other income from affiliates	'	283	296	317	371	458	396	569	550	1,267	1,973	1,974
Total income	'	58,420	47,470	40,764	33,585	32,674	27,050	25,614	21,817	180,239	107,155	65,469
Expenses	'	'	'	'	'	'	'	'	'	'	'	'
Management fees (including $3,998, $5,714 and $0 of share-based compensation, respectively)	'	6,951	6,520	6,422	6,370	6,706	3,812	3,944	4,520	26,263	18,982	8,477
Investment and servicing expenses (including $1,771, $1,657 and $1,719 reimbursable to affiliates, respectively)	'	'	'	'	'	'	'	'	'	3,228	2,977	2,793
Interest expense	'	'	'	'	'	'	'	'	'	18,838	8,248	3,011
Property operating expenses	'	'	'	'	'	'	'	'	'	197	0	0
Administrative expenses (including $3,073, $2,460 and $1,592 reimbursable to affiliates, respectively)	'	'	'	'	'	'	'	'	'	7,548	6,346	5,780
Depreciation and amortization	'	'	'	'	'	'	'	'	'	310	0	0
Transaction costs	'	'	'	'	'	'	'	'	'	1,807	0	0
Total expenses	'	19,118	14,381	13,516	11,176	11,368	8,395	8,342	8,448	58,191	36,553	20,061
Realized gain on resolution of loans receivable	'	'	'	'	'	'	'	'	'	4,578	808	0
Other loss, net	'	-19	860	3,756	-63	603	-331	-276	-228	-44	-1,040	-853
Income (loss) before income taxes	'	'	'	'	'	'	'	'	'	126,582	70,370	44,555
Income tax provision	'	79	-14	242	352	764	596	441	364	659	2,165	1,191
Net income (loss)	'	39,204	33,963	30,762	21,994	21,145	17,728	16,555	12,777	125,923	68,205	43,364
Net income attributable to noncontrolling interests	'	8,946	7,514	5,111	2,587	2,261	2,170	1,454	309	24,158	6,194	1,104
Net income (loss) attributable to Colony Financial, Inc.	-542	30,258	26,449	25,651	19,407	18,884	15,558	15,101	12,468	101,765	62,011	42,260
Preferred dividends	'	5,355	5,355	5,355	5,355	5,355	5,102	3,082	376	21,420	13,915	0
Net income attributable to common stockholders	'	$24,903	$21,094	$20,296	$14,052	$13,529	$10,456	$12,019	$12,092	$80,345	$48,096	$42,260
Net income per common share:	'	'	'	'	'	'	'	'	'	'	'	'
Basic (in dollars per share)	'	$0.34	$0.32	$0.31	$0.22	$0.31	$0.30	$0.36	$0.37	$1.20	$1.33	$1.47
Diluted (in dollars per share)	'	$0.34	$0.32	$0.31	$0.22	$0.31	$0.30	$0.36	$0.37	$1.20	$1.32	$1.46
Weighted average number of common shares outstanding:	'	'	'	'	'	'	'	'	'	'	'	'
Basic (in shares)	'	'	'	'	'	'	'	'	'	66,181,700	35,925,600	28,732,200
Diluted (in shares)	'	'	'	'	'	'	'	'	'	66,181,700	35,943,200	28,993,700

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Investment expenses reimbursed to affiliates	$1,771	$1,657	$1,719
Administrative expenses reimbursed to affiliates	3,073	2,460	1,592
Management Fees	'	'	'
Share-based compensation included in management fees	$3,998	$5,714	$0

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statement of Comprehensive Income [Abstract]	'	'	'
Net income	$125,923	$68,205	$43,364
Other comprehensive income, net of tax:	'	'	'
Equity in other comprehensive (loss) income of unconsolidated joint ventures, net	-3,107	7,144	-1,853
Unrealized (loss) gain on beneficial interests in debt securities	-554	267	614
Net change in fair value of cash flow hedge	-27	0	0
Foreign currency translation adjustments:	'	'	'
Foreign currency translation adjustment gain (loss)	5,599	1,261	-3,253
Change in fair value of net investment hedges	-3,828	-1,149	1,192
Net foreign currency translation adjustments	1,771	112	-2,061
Other comprehensive (loss) income	-1,917	7,523	-3,300
Comprehensive income	124,006	75,728	40,064
Comprehensive income attributable to noncontrolling interests	24,832	6,203	1,070
Comprehensive income attributable to stockholders	$99,174	$69,525	$38,994

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)	Total	Total Stockholders’ Equity	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained (Distributions in Excess of) Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Beginning balance at Dec. 31, 2010	$333,279,000	$333,039,000	$0	$174,000	$330,777,000	$1,152,000	$936,000	$240,000
Beginning balance, shares at Dec. 31, 2010	'	'	0	17,384,000	'	'	'	'
Net income	43,364,000	42,260,000	'	'	'	42,260,000	'	1,104,000
Other comprehensive income (loss)	-3,300,000	-3,266,000	'	'	'	'	-3,266,000	-34,000
Common stock offering	283,975,000	283,975,000	'	153,000	283,822,000	'	'	'
Common stock offering ,shares	'	'	'	15,350,000	'	'	'	'
Underwriting and offering costs	-12,268,000	-12,268,000	'	'	-12,268,000	'	'	'
Anti-dilution purchase price adjustment	-162,000	-162,000	'	2,000	-164,000	'	'	'
Anti-dilution purchase price adjustment, shares	'	'	'	175,000	'	'	'	'
Reimbursement of deferred underwriting discounts and commissions to Manager	5,750,000	5,750,000	'	3,000	5,747,000	'	'	'
Reimbursement of deferred underwriting discounts and commissions to Manager, shares	'	'	'	287,500	'	'	'	'
Issuance of common stock for incentive fees	88,000	88,000	'	0	88,000	'	'	'
Issuance of common stock for incentive fees, Shares	5,989	'	'	5,989	'	'	'	'
Common stock repurchases	-8,654,000	-8,654,000	'	-6,000	-8,648,000	'	'	'
Common stock repurchases, shares	'	'	'	-580,600	'	'	'	'
Share-based payments	116,000	116,000	'	0	116,000	'	'	'
Share-based payments, shares	'	'	'	-3,000	'	'	'	'
Contributions from noncontrolling interests	10,140,000	'	'	'	'	'	'	10,140,000
Distributions to noncontrolling interests	-936,000	'	'	'	'	'	'	-936,000
Common stock dividends declared	-37,902,000	-37,902,000	'	'	'	-37,902,000	'	'
Ending balance at Dec. 31, 2011	613,490,000	602,976,000	0	326,000	599,470,000	5,510,000	-2,330,000	10,514,000
Ending balance, shares at Dec. 31, 2011	'	'	0	32,624,889	'	'	'	'
Net income	68,205,000	62,011,000	'	'	'	62,011,000	'	6,194,000
Other comprehensive income (loss)	7,523,000	7,514,000	'	'	'	'	7,514,000	9,000
Issuance of 8.5% Series A Cumulative Redeemable Perpetual Preferred Stock	254,578,000	254,578,000	101,000	'	254,477,000	'	'	'
Issuance of 8.5% Series A Cumulative Redeemable Perpetual Preferred Stock, shares	'	'	10,080,000	'	'	'	'	'
Common stock offering	371,002,000	371,002,000	'	196,000	370,806,000	'	'	'
Common stock offering ,shares	'	'	'	19,550,000	'	'	'	'
Underwriting and offering costs	-9,392,000	-9,392,000	'	'	-9,392,000	'	'	'
Issuance of common stock for incentive fees	1,197,000	1,197,000	'	1,000	1,196,000	'	'	'
Issuance of common stock for incentive fees, Shares	65,703	'	'	65,703	'	'	'	'
Share-based payments	6,133,000	6,133,000	'	8,000	6,125,000	'	'	'
Share-based payments, shares	'	'	'	-851,031	'	'	'	'
Contributions from noncontrolling interests	54,963,000	'	'	'	'	'	'	54,963,000
Distributions to noncontrolling interests	-11,981,000	'	'	'	'	'	'	-11,981,000
Preferred stock dividends	-14,328,000	-14,328,000	'	'	'	-14,328,000	'	'
Common stock dividends declared	-58,360,000	-58,360,000	'	'	'	-58,360,000	'	'
Ending balance at Dec. 31, 2012	1,283,030,000	1,223,331,000	101,000	531,000	1,222,682,000	-5,167,000	5,184,000	59,699,000
Ending balance, shares at Dec. 31, 2012	'	'	10,080,000	53,091,623	'	'	'	'
Net income	125,923,000	101,765,000	'	'	'	101,765,000	'	24,158,000
Other comprehensive income (loss)	-1,917,000	-2,591,000	'	'	'	'	-2,591,000	674,000
Common stock offering	475,602,000	475,602,000	'	234,000	475,368,000	'	'	'
Common stock offering ,shares	'	'	'	23,401,755	'	'	'	'
Underwriting and offering costs	-1,059,000	-1,059,000	'	'	-1,059,000	'	'	'
Issuance of common stock for incentive fees, Shares	0	'	'	'	'	'	'	'
Share-based payments	4,283,000	4,283,000	'	0	4,283,000	'	'	'
Share-based payments, shares	'	'	'	-1,153	'	'	'	'
Contributions from noncontrolling interests	256,589,000	'	'	'	'	'	'	256,589,000
Distributions to noncontrolling interests	-71,203,000	'	'	'	'	'	'	-71,203,000
Preferred stock dividends	-21,420,000	-21,420,000	'	'	'	-21,420,000	'	'
Common stock dividends declared	-95,601,000	-95,601,000	'	'	'	-95,601,000	'	'
Ending balance at Dec. 31, 2013	$1,954,227,000	$1,684,310,000	$101,000	$765,000	$1,701,274,000	($20,423,000)	$2,593,000	$269,917,000
Ending balance, shares at Dec. 31, 2013	'	'	10,080,000	76,492,225	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_EQU1

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statement of Stockholders' Equity [Abstract]	'	'	'
Preferred stock, dividend percentage	'	8.50%	'
Common stock dividends declared per share	$1.40	$1.44	$1.31

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Cash Flows from Operating Activities	'	'	'
Net income	$125,923,000	$68,205,000	$43,364,000
Adjustments to reconcile net income to net cash provided by operating activities:	'	'	'
Amortization of discount and net origination fees on purchased and originated loans	-9,509,000	-3,656,000	-1,332,000
Paid-in-kind interest added to loan principal	-218,000	-851,000	-608,000
Amortization of deferred financing costs	3,017,000	2,152,000	1,109,000
Equity in income of unconsolidated joint ventures	-100,708,000	-68,737,000	-46,720,000
Distributions of income from unconsolidated joint ventures	101,874,000	64,839,000	25,959,000
Depreciation and amortization	310,000	0	0
Share-based payments	4,283,000	7,330,000	204,000
Realized gain on resolution of loans receivable	-4,578,000	-808,000	0
Changes in operating assets and liabilities:	'	'	'
Increase in other assets	-6,917,000	-2,914,000	-1,802,000
Increase in accrued and other liabilities	8,049,000	2,148,000	1,759,000
Increase in due to affiliates	3,002,000	1,196,000	1,574,000
Other adjustments, net	761,000	1,314,000	910,000
Net cash provided by operating activities	125,289,000	70,218,000	24,417,000
Cash Flows from Investing Activities	'	'	'
Contributions to unconsolidated joint ventures	-672,338,000	-528,347,000	-199,340,000
Distributions from unconsolidated joint ventures	177,287,000	136,496,000	20,394,000
Investments in purchased loans receivable, net of seller financing	-340,563,000	-56,427,000	-53,507,000
Repayments of principal on loans receivable	109,643,000	48,892,000	0
Net disbursements on originated loans	-535,940,000	-56,000,000	-105,804,000
Proceeds from sales of loans receivable	71,298,000	30,159,000	0
Acquisition of real estate assets, net	-122,750,000	0	0
Acquisition of beneficial interests in debt securities	0	0	-28,000,000
Other investing activities, net	143,000	58,000	-176,000
Net cash used in investing activities	-1,313,220,000	-425,169,000	-366,433,000
Cash Flows from Financing Activities	'	'	'
Proceeds from issuance of preferred stock, net	0	246,559,000	0
Proceeds from issuance of common stock, net	475,190,000	371,002,000	272,261,000
Dividends paid to preferred stockholders	-21,420,000	-9,326,000	0
Dividends paid to common stockholders	-89,916,000	-48,367,000	-32,894,000
Common stock repurchases	0	0	-8,654,000
Line of credit borrowings	514,000,000	133,500,000	73,000,000
Line of credit repayments	-375,500,000	-202,500,000	-24,000,000
Proceeds from secured financing	203,000,000	0	0
Secured financing repayments	-33,560,000	-9,202,000	-155,000
Net proceeds from issuance of convertible senior notes	194,000,000	0	0
Payment of deferred financing costs	-6,011,000	-1,772,000	-2,204,000
Payment of offering costs	-944,000	-922,000	-554,000
Payment of deferred underwriting discounts and commissions	0	0	-5,750,000
Contributions from noncontrolling interests	256,589,000	54,963,000	10,140,000
Distributions to noncontrolling interests	-52,703,000	-11,981,000	-936,000
Other financing activities, net	-1,987,000	-676,000	-608,000
Net cash provided by financing activities	1,060,738,000	521,278,000	279,646,000
Effect of exchange rates on cash	161,000	0	-3,000
Net (decrease) increase in cash	-127,032,000	166,327,000	-62,373,000
Cash, beginning of period	170,199,000	3,872,000	66,245,000
Cash, end of period	43,167,000	170,199,000	3,872,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:	'	'	'
Cash paid for interest	13,558,000	5,667,000	1,568,000
Cash paid for income taxes	2,294,000	4,930,000	337,000
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:	'	'	'
Dividends payable	32,127,000	26,442,000	11,092,000
Offering costs included in accrued and other liabilities	0	297,000	0
Deferred financing costs deducted from convertible debt issuance proceeds	6,000,000	0	0
Noncash distribution of loan receivable to a noncontrolling interest	18,500,000	0	0
Proceeds from settlement of a derivative instrument in other assets	1,736,000	0	0
Seller-provided secured financing on purchased loan	0	103,524,000	0
Interest reserve for seller financing funded by borrower of purchased loan (Note 9)	0	9,984,000	0
Assignment of loans receivable and related liabilities to investment in unconsolidated joint ventures	0	29,427,000	0
Derivative liability assumed for beneficial interests in securities	0	0	4,122,000
Investments in loans receivable in accrued and other liabilities	0	0	1,669,000
Deferred payment on investment in unconsolidated joint venture	$0	$0	$150,000

Organization_Notes

Organization (Notes)	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization	'
	Organization
	Colony Financial, Inc. (the “Company”) was organized on June 23, 2009 as a Maryland corporation. The Company acquires, originates and manages a diversified portfolio of real estate-related debt and equity investments primarily composed of acquired and originated loans and real estate equity, including interests in single-family residential rental properties through its investment in CAH Operating Partnership, L.P. ("CAH OP"). The Company is externally managed and advised by Colony Financial Manager, LLC (the “Manager”), a wholly-owned subsidiary of Colony Capital, LLC ("Colony Capital"), a privately held global real estate investment firm. The Company elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code commencing with its first taxable year ended December 31, 2009.

Significant_Accounting_Policie

Significant Accounting Policies (Notes)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	Significant Accounting Policies
	The significant accounting policies of the Company are described below. The accounting policies of the Company's unconsolidated joint ventures are substantially similar to those of the Company.
	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The portions of the equity, net income and other comprehensive income of consolidated subsidiaries that are not attributable to the parent are presented separately as amounts attributable to noncontrolling interests in the consolidated financial statements. A substantial portion of noncontrolling interests represent interests held by private investment funds or other investment vehicles managed by Colony Capital or its affiliates ("Co-Investment Funds").
	The Company consolidates entities in which it retains a controlling financial interest or entities that meet the definition of a variable interest entity (“VIE”) for which the Company is deemed to be the primary beneficiary. In performing its analysis of whether it is the primary beneficiary, at initial investment and at each quarterly reporting period, the Company considers whether it individually has the power to direct the activities of the VIE that most significantly affect the entity’s performance and also has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. The Company also considers whether it is a member of a related party group that collectively meets the power and benefits criteria and, if so, whether the Company is most closely associated with the VIE. In making that determination, the Company considers both qualitative and quantitative factors, including, but not limited to: the amount and characteristics of its investment relative to other investors; the obligation or likelihood for the Company or other investors to fund operating losses of the VIE; the Company’s and the other investors’ ability to control or significantly influence key decisions for the VIE, and the similarity and significance of the VIE’s business activities to those of the Company and the other investors. The determination of whether an entity is a VIE, and whether the Company is the primary beneficiary, involves significant judgments, including the determination of which activities most significantly affect the entities’ performance, estimates about the current and future fair values and performance of assets held by the VIE and/or general market conditions.
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
	Cash and Cash Equivalents
	For purposes of reporting cash flows, the Company considers short-term, highly liquid investments with original maturities of three months or less to be cash equivalents. The Company did not have any cash equivalents at December 31, 2013 and 2012. The Company maintains its cash accounts in a number of commercial banks. At various times during the year, the Company had deposits in excess of federally insured limits.
	Investments in Unconsolidated Joint Ventures
	The Company holds ownership interests in certain joint ventures. The Company evaluates its interest in these entities to determine whether they meet the definition of a VIE and whether the Company should consolidate these entities. In each case, the Company has determined that (1) the entity is not a VIE and the Company does not have a controlling financial interest, or (2) the entity is a VIE but the Company is not the primary beneficiary. Since the Company may not consolidate these entities but has significant influence over operating and financial policies, it accounts for its investments in joint ventures using the equity method. Under the equity method, the Company initially records its investments at cost and adjusts for the Company’s proportionate share of net earnings or losses and other comprehensive income or loss, cash contributions made and distributions received, and other adjustments, as appropriate. Distributions of operating profit from the joint ventures are reported as part of operating cash flows. Distributions related to a capital transaction, such as a refinancing transaction or sale, are reported as investing activities.
	The Company performs a quarterly evaluation of its investments in unconsolidated joint ventures to determine whether the fair value of each investment is less than the carrying value, and, if such decrease in value is deemed to be other-than-temporary, writes down the investment to fair value.
	Loans Receivable
	The Company originates and purchases loans receivable. Originated loans are recorded at amortized cost, or the outstanding unpaid principal balance (“UPB”) less net deferred loan fees. Net deferred loan fees include unamortized origination and other fees charged to the borrower less direct incremental loan origination costs incurred by the Company. Purchased loans are recorded at amortized cost, or the UPB less unamortized purchase discount. Costs to purchase loans are expensed as incurred. Interest income is recognized based upon the contractual rate and the outstanding principal balance of the loans. Purchase discount or net deferred loan fees are amortized over the expected life of the loans using the effective yield method except on revolving loans, for which the straight-line method is used. When a loan is prepaid, prepayment fees and any excess of proceeds over the carrying amount of the loan are recognized as a gain. Loans that the Company has the intent and ability to hold for the foreseeable future are classified as held-for-investment.
	Loans Held for Sale—Loans held for sale are loans that the Company intends to sell or liquidate in the foreseeable future and are carried at the lower of amortized cost or fair value.
	Past Due Loans—The Company places loans on nonaccrual status when any portion of principal or interest is more than 90 days past due, or earlier when concern exists as to the ultimate collection of principal or interest. When a loan is placed on nonaccrual status, the Company reverses the accrual for unpaid interest and does not recognize interest income until the cash is received and the loan returns to accrual status. Generally, a loan may be returned to accrual status when all delinquent principal and interest are brought current in accordance with the terms of the loan agreement and the borrower has met certain performance criteria.
	Impairment and Allowance for Loan Losses—The Company regularly analyzes the extent and effect of any credit migration from underwriting and the initial investment review associated with a loan’s performance and/or value of underlying collateral as well as the financial and operating capability of the borrower/sponsor. Specifically, a property’s operating results and any cash reserves are analyzed and used to assess (i) whether cash from operations are sufficient to cover the debt service requirements currently and into the future, (ii) the ability of the borrower to refinance the loan, and/or (iii) the property’s liquidation value. Where applicable, the Company also evaluates the financial wherewithal of any loan guarantors as well as the borrower’s competency in managing and operating the properties.  Such analysis is performed at least quarterly, or more often as needed when impairment indicators are present. The Company does not utilize a statistical credit rating system to monitor and assess the credit risk and investment quality of its acquired or originated loans. Given the diversity of the Company's portfolio, management believes there is no consistent method of assigning a numerical rating to a particular loan that captures all of the various credit metrics and their relative importance. Therefore, the Company evaluates impairment and allowance for loan loss on an individual loan basis.
	A loan is considered to be impaired when it is probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan agreement. A loan is also considered to be impaired if it has been restructured in a troubled debt restructuring (“TDR”) involving a modification of terms as a concession resulting from the debtor’s financial difficulties. The Company measures impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the loan valuation is less than the recorded investment in the loan, a valuation allowance is established with a corresponding charge to allowance for loan loss.
	Purchased Credit-Impaired ("PCI") Loans—PCI loans are acquired loans with evidence of credit quality deterioration since origination for which it is probable at acquisition that the Company will collect less than the contractually required payments. PCI loans are recorded at the initial investment in the loans and accreted to the estimated cash flows expected to be collected measured at acquisition date. The excess of cash flows expected to be collected measured at acquisition date over the initial investment (“accretable yield”) is recognized in interest income over the remaining life of the loan using the effective interest method. The excess of contractually required payments at the acquisition date over expected cash flows (“nonaccretable difference”) is not recognized as an adjustment of yield, loss accrual or valuation allowance. The Company evaluates estimated future cash flows on a quarterly basis, starting with the first full quarter after acquisition, or earlier if conditions indicating impairment are present. Subsequent increases in cash flows expected to be collected are recognized prospectively through an adjustment to the loan’s accretable yield over its remaining life, which may result in a reclassification from nonaccretable difference to accretable yield. Subsequent decreases in cash flows expected to be collected are evaluated to determine whether a provision for loan loss should be established. If decreases in expected cash flows result in a decrease in the estimated fair value of the loan below its amortized cost, the Company will record a provision for loan losses calculated as the difference between the loan’s amortized cost and the revised cash flows, discounted at the loan’s effective yield.
	PCI loans may be aggregated into pools based upon common risk characteristics, such as loan performance, collateral type and/or geographic location of the collateral. Once a loan pool is identified, a composite yield and estimate of cash flows expected to be collected (including expected prepayments) are used to recognize interest income. A loan resolution within a loan pool, which may involve the sale of the loan or foreclosure on the underlying collateral, results in the removal of an allocated carrying amount. A loan modified within a loan pool remains in the loan pool, with the effect of the modification incorporated into the expected future cash flows.
	Investments in Debt and Equity Securities
	The Company designates debt and equity securities as held-to-maturity, available-for-sale, or trading depending upon its intent at the time of acquisition. The Company’s beneficial interests in debt securities are designated as available-for-sale and are presented at fair value. Unrealized gains or losses are included as a component of other comprehensive income or loss. Premiums or discounts on acquired debt securities are amortized or accreted into income using the effective interest method over the expected lives of the individual securities. The Company performs a quarterly assessment of its debt and equity securities to determine whether a decline in fair value below amortized cost is other than temporary. Other-than-temporary impairment exists when it is probable that the Company will be unable to recover the entire amortized cost basis of the security. If the decline in fair value is deemed to be other than temporary, the security is written down to fair value which becomes the new cost basis and an impairment loss is recognized.
	Investment in Real Estate
	Real Estate Acquisitions—Real estate acquisitions are recorded at the fair values of the acquired components at the time of acquisition, allocated among land, building, improvements, equipment, lease-related tangible and identifiable intangible assets, such as tenant improvements, deferred leasing costs, in-place lease values, above- and below-market lease values. The Company evaluates each purchase transaction to determine whether the acquired assets meet the definition of a business. Transaction costs related to acquisitions that are not deemed to be businesses are included in the cost basis of the acquired assets, while transaction costs related to acquisitions that are deemed to be businesses are expensed as incurred. Net cash paid to acquire an operating property is classified as investing activities on the accompanying statements of cash flows.
	The fair value of acquired land is derived from recent comparable sales of land and listings within the same local region based on available market data. The fair value of acquired buildings and building improvements is derived from comparable sales, discounted cash flow analysis using market-based assumptions, or replacement cost, as appropriate. The fair value of site and tenant improvements is estimated based upon current market replacement costs and other relevant market rate information.
	In-place leases generate value over and above the tangible real estate because a property that is occupied with leased space is typically worth more than a vacant building without an operating lease contract in place. The fair value of acquired in-place leases is derived based on management's assessment of lost rental income and tenant reimbursements that would be incurred to lease a hypothetically vacant building to its actual existing occupancy level on the valuation date. The net amount recorded for acquired in-place leases is included in other assets on the accompanying balance sheets and amortized on a straight-line basis as an increase to depreciation and amortization expense over the remaining term of the applicable leases.
	The fair value of the above- or below-market component of an acquired in-place operating lease represents the present value of the difference between contractual rents of acquired leases and market rents at the time of the acquisition, discounted for tenant credit risks. Above- or below-market lease values are amortized on a straight-line basis as a decrease or increase to rental income, respectively, over the applicable lease terms. The Company did not have any above- or below-market lease values at December 31, 2013 or 2012.
	Deferred leasing costs represent management's estimation of the avoided leasing commissions and legal fees associated with an existing in-place lease. The net amount is included in other assets on the accompanying balance sheets and amortized on a straight-line basis as an increase to depreciation and amortization expense over the remaining term of the applicable lease.
	Fair values of these components generally rely on Level 2 or Level 3 inputs of the fair value hierarchy (see —Fair Value Measurement).
	Depreciation—Depreciation is computed on the straight-line basis over the estimated useful lives of the assets, which generally range from 10 to 40 years for buildings and improvements and 5 to 15 years for furniture, fixtures and equipment. Tenant improvements are amortized over the shorter of the remaining lease term or the estimated useful life.
	Expenditures for ordinary repairs and maintenance are expensed as incurred, while expenditures for significant renovations that improve or extend the useful life of the asset are capitalized and depreciated over their estimated useful lives.
	Real Estate Acquired in Settlement of Loans—Real estate acquired in full or partial settlement of loans ("real estate owned," or "REO") is measured at fair value less estimated costs to sell at the acquisition date if the property meets the GAAP definition of a held for sale property. REO property that is classified as held for sale is not depreciated during the holding period. If the Company intends to operate the property, the fair value is allocated among the acquired assets (see —Real Estate Acquisitions). The difference between the carrying value of the loan and the fair value of the foreclosed asset is recognized in the statement of operations, after reversing any previously recognized provision on the loan. The fair value of REO is generally based on a third party appraisal or on a combination of appraised value, broker price opinions and comparable sales.
	Real Estate Impairment—The Company evaluates its investments in real estate for impairment periodically or whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The Company evaluates cash flows and determines impairments on an individual property basis. In making this determination, the Company reviews, among other things, current and estimated future cash flows associated with each property, market information for each sub-market, including, where applicable, competition levels, foreclosure levels, leasing trends, occupancy trends, lease or room rates, and the market prices of similar properties recently sold or currently being offered for sale, and other quantitative and qualitative factors. If an impairment indicator exists, the Company compares the expected future undiscounted cash flows to the carrying amount of the asset to evaluate whether the carrying value is recoverable. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the asset, the Company would record an impairment loss for the difference between the estimated fair value and the carrying amount of the asset.
	Other Assets
	Other assets include the fair value of derivative instruments, deferred financing costs, acquired intangible assets, restricted cash, deferred tax assets, interest receivable and prepaid expenses.
	Deferred Financing Costs—Costs incurred in connection with the Company's financing arrangements are recorded as deferred financing costs and included in other assets on the accompanying balance sheets. Deferred financing costs associated with the credit facility are amortized using the straight-line method over the expected term of the credit facility. Deferred financing costs associated with convertible senior notes, secured financing and mortgage loans are amortized using the effective interest method over the respective term of the financing.
	Restricted Cash—Restricted cash primarily includes escrow deposits from borrowers for various purposes, including property taxes, insurance, replacement reserves and interest reserves, with a corresponding liability included in accrued and other liabilities.
	Acquired Intangible Assets—Intangible assets consist of acquired in-place leases and deferred leasing costs associated with acquiring an operating property with existing leases. In-place leases and deferred leasing costs are recorded at their respective fair value as of the acquisition date, net of straight-line amortization over the applicable lease terms.
	Transfers of Financial Assets
	Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over a transferred financial asset is deemed to be surrendered when (1) the asset has been legally isolated; (2) the transferee has the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred asset; and (3) the Company does not maintain effective control over the transferred asset through either (a) an agreement that entitles and obligates the Company to repurchase or redeem it before its maturity or (b) an agreement that provides the Company with both the unilateral ability to cause the holder to return specific assets and a more than trivial benefit attributable to that ability. The difference between the net proceeds received and the carrying amount of the financial assets being sold is recognized as a gain or loss on sale. Transfers of financial assets that do not meet these requirements are accounted for as financing transactions.
	Debt
	The Company's debt balance includes a mortgage loan, loan-on-loan secured financing arrangements and transfers of financial assets that are accounted for as financing transactions as they did not meet the criteria for treatment as sales.
	Rental Income and Tenant Reimbursements
	Rental income is recognized on a straight-line basis over the term of the related lease. Residential leases generally have one-year terms while commercial leases generally have longer terms.  Rents received in advance are deferred.
	In net lease arrangements, costs reimbursable from tenants for real estate taxes, property insurance and other recoverable costs are recognized as revenue in the period the recoverable costs are incurred. When the Company is the primary obligor with respect to purchasing goods and services for property operations and has discretion in selecting the supplier and retains credit risk, tenant reimbursement revenue and property operating expenses are presented on a gross basis in the Company's statement of operations. For certain triple net leases where the lessee self-manages the property, hires its own service providers and retains credit risk for routine maintenance contracts, no reimbursement revenue and expense are recognized.
	Foreign Currency Translation
	The Company translates the assets and liabilities of its non-U.S. dollar functional currency investments and subsidiaries into U.S. dollars using exchange rates in effect at the balance sheet date. Income and expenses from these investments and subsidiaries are translated at the average rate of exchange prevailing during the period such income was earned or expenses were incurred. Translation adjustments resulting from changes in exchange rates are recorded as other comprehensive income or loss. Foreign currency transaction gains and losses are recognized when the Company receives distributions from non-U.S. dollar currency investments and subsidiaries, and are included in other gain or loss in the accompanying statements of operations.
	Other Income from Affiliates
	Other income primarily includes asset management fees earned by two wholly-owned subsidiaries of the Company that provide asset management services for two of the Company's unconsolidated joint ventures that invested in loan portfolios. Asset management fees are recognized as earned.
	Derivative Instruments and Hedging Activities
	The Company uses derivative instruments to manage its foreign currency risk and interest rate risk.
	Foreign Currency Risk—The Company has entered into currency collars (consisting of caps and floors) and forwards to hedge the foreign currency exposure of its net investments in foreign entities. The Company has entered into various foreign exchange contracts with notional amounts and termination dates based upon the anticipated return of capital from the investments.
	Interest Rate Risk—The Company uses interest rate swaps and caps to hedge against the risk of interest rate fluctuations on its future cash flows from investments. These derivative instruments are designed to mitigate the interest rate risk for certain floating rate debt investments and liabilities.
	All derivative instruments are recorded at their fair values and included in other assets or other liabilities on the accompanying balance sheets on a gross basis. To the extent they are effective, fair value adjustments on derivative instruments designated as hedging instruments are reported as other comprehensive income and included in stockholders' equity until the hedged item is realized. Ineffective portions and settlement gains and losses, if any, are included in earnings. Fair value adjustments on derivative instruments that are not designated as hedging instruments are reported in other gain or loss on the accompanying statements of operations. The Company does not enter into derivative transactions for speculative or trading purposes.
	Fair Value Measurement
	The Company determines the estimated fair value of financial assets and liabilities using the three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The three levels of inputs that may be used to measure fair value are as follows:
	Level 1—Quoted prices in active markets for identical assets or liabilities.
	Level 2—Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
	Level 3—Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used.
	The Company records certain financial instruments at fair value on a recurring basis when required by GAAP. The Company has not elected the fair value option for any other financial instruments. Such financial instruments are carried at cost while fair value is separately disclosed (see Note 11).
	Share-Based Payments
	The Company recognizes the cost of share-based awards based upon their fair values on a straight-line basis over the requisite service period, which is generally the vesting period of the awards. For awards to the Company’s employees, including its independent directors, the fair value is determined as the grant date stock price. For share-based awards to non-employees, including the Manager and employees of the Manager, the fair value is based upon the vesting date stock price, which requires the amount of related expense to be remeasured at the end of each reporting period until the award has vested.
	For awards with periodic vesting, the Company recognizes the related expense on a straight-line basis over the requisite service period for the entire award, subject to periodic adjustments to ensure that the cumulative amount of expense recognized through the end of any reporting period is at least equal to the fair value of the portion of the award that has vested through that date. Share-based payments are reflected in the same expense category as would be appropriate if the payments had been made in cash.
Net Earnings Per Share
The Company calculates basic earnings per share using the two-class method which defines unvested share-based payment awards that contain nonforfeitable rights to dividends as participating securities. The two-class method is an allocation formula that determines earnings per share for each share of common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings (distributed and undistributed) are allocated to common shares and participating securities based on their respective rights to receive dividends. Earnings per common share is calculated by dividing earnings allocated to common shareholders by the weighted-average number of common shares outstanding during the period.
Diluted earnings per common share is computed by dividing income allocated to common stockholders by the weighted average common shares outstanding plus the dilutive effect, if any, of share-based payments and the assumed conversion of convertible notes to common shares.
Income Taxes
The Company elected to be taxed as a REIT, commencing with the Company’s initial taxable year ended December 31, 2009. A REIT is generally not subject to corporate level federal and state income tax on net income it distributes to its stockholders. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of its REIT taxable income to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal and state income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Even if the Company qualifies for taxation as a REIT, it and its subsidiaries may be subject to certain federal, state, local and foreign taxes on its income and property and to federal income and excise taxes on its undistributed taxable income.
The Company has elected or may elect to treat certain of its existing or newly created corporate subsidiaries as taxable REIT subsidiaries (each a “TRS”). In general, a TRS of a REIT may perform non-customary services for tenants of the REIT, hold assets that the REIT cannot hold directly and, subject to certain exceptions related to hotels and healthcare properties, may engage in any real estate or non-real estate related business. A TRS is treated as a regular corporation and is subject to federal, state, local and foreign taxes on its income and property.
Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The deferred tax assets and liabilities of the TRSs relate primarily to temporary differences in the book and tax income of TRSs and operating loss carryforwards for federal and state income tax purposes, as well as the tax effect of accumulated other comprehensive income of TRSs. A valuation allowance for deferred tax assets is provided if the Company believes it is more likely than not that all or some portion of the deferred tax assets will not be realized. Realization of deferred tax assets is dependent on the Company generating sufficient taxable income in future periods.
The Company periodically evaluates its tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by a tax authority for all open tax years, as defined by the statute of limitations, based on their technical merits. As of December 31, 2013 and 2012, the Company has not established a liability for uncertain tax positions.
Segment Reporting
The Company currently operates in three reportable segments: (1) real estate debt investments, which include originated and acquired commercial real estate debt, mortgage-backed securities, and other debt-related investments, (2) single-family residential rentals through its investment in CAH OP, and (3) other real estate equity investments, which include real estate acquired in settlement of loans or from acquisition of operating properties, common equity in real estate or related companies, and certain preferred equity investments with profit participation meeting certain risk or return profiles.
Prior to the third quarter of 2013, the Company had two reportable segments, real estate debt investments and single-family residential rentals. During the third quarter of 2013, the Company reevaluated its operating and reportable segments in light of the increasing significance of its real estate equity investments. As a result of this evaluation, the Company created a third reportable segment which represents its investments in other real estate equity, which was previously included in the real estate debt investments segment. Prior to 2012, there was only one reportable segment, real estate debt investments.
Reclassification
Certain amounts in the statement of cash flows for the year ended December 31, 2012 have been reclassified for consistency with the current year presentation. The reclassification did not have a material effect on the Company's financial position or results of operations.
Recent Accounting Updates
Comprehensive Income—In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. Under ASU No. 2013-02, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income ("AOCI") by component. In addition, an entity is required to present, either on the face of the income statement or in the notes, significant amounts reclassified from AOCI by the respective line items of the income statement. ASU No. 2013-02 did not change the current requirements for reporting net income or other comprehensive income in the financial statements. The adoption of the new presentation requirements of ASU No. 2013-02 in the first quarter of 2013 did not have a significant effect on the Company's consolidated financial position, results of operations or cash flows.

Investments_in_Unconsolidated_

Investments in Unconsolidated Joint Ventures (Notes)	12 Months Ended
	Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]	'
Investments in Unconsolidated Joint Ventures	'
	Investments in Unconsolidated Joint Ventures
	Pursuant to an investment allocation agreement among the Company, the Manager and Colony Capital, many of the Company’s investments have been structured as joint ventures with one or more Co-Investment Funds. The joint ventures are generally capitalized through equity contributions from the members, although certain investments are leveraged through various financing arrangements. The Company’s exposure to the joint ventures is limited to amounts invested or committed to the joint ventures at inception, and neither the Company nor the other investors are required to provide financial or other support in excess of their capital commitments.
	The Company’s investments in unconsolidated joint ventures are summarized below:
	(Amounts in thousands)				Ownership Percentage at December 31, 2013 (1)			Carrying Value
	Joint Ventures		Investment Status at December 31, 2013					December 31, 2013			December 31, 2012
	CAH Operating Partnership, L.P.		Investment in CAH OP, an investment vehicle created for the purpose of acquiring and renting single-family homes		24.3	%		$	530,007		$	251,501
	Portfolio 8 Investors, LLC (2)		Preferred equity investment in an entity that acquired a multifamily portfolio composed of approximately 7,600 units located in Georgia, Florida and Texas		75	%		148,683			—
	ColFin Court Square Funding, LLC		Preferred equity investment in an entity that acquired a Class A office tower located in Long Island City, New York		50	%		49,103			46,188
	ColFin Hunt Holdco A, LLC and ColFin Hunt Holdco B, LLC		1 non-performing commercial real estate loan and 2 REO properties		37.9	%		36,133			26,963
	ColFin 2011 CRE Holdco, LLC and Colony AMC 2011 CRE, LLC		410 performing and non-performing loans acquired in a structured transaction with the FDIC, secured mostly by commercial real estate, and 22 REO properties		44.4	%		34,298			38,220
	(Amounts in thousands)				Ownership Percentage at December 31, 2013 (1)			Carrying Value
	Joint Ventures		Investment Status at December 31, 2013					December 31, 2013			December 31, 2012
	ColFin NW Funding, LLC		15 performing acquired first mortgages secured by commercial real estate		37.9	%		33,682			32,676
	ColFin JIH Holdco, LLC, ColFin JIH Mezzco A, LLC and ColFin JIH Opco, LLC		Equity interests in and senior mezzanine loan receivable from entities owning a portfolio of 102 limited service hotels		33.3	%		31,559			32,320
	ColFin Bulls Funding A, LLC and ColFin Bulls Funding B, LLC		354 performing and non-performing acquired loans consisting of substantially all first mortgage recourse commercial real estate loans and 14 REO properties		32.5	%		30,309			39,662
	ColFin DB Guarantor, LLC and Colony AMC DB, LLC		452 performing and non-performing loans acquired in a structured transaction with the FDIC, secured mostly by commercial real estate and 117 REO properties		33.3	%		26,293			39,317
	ColFin Ash Funding, LLC		2 most junior mortgage participation interests secured by 5 full-service hotels		50	%		24,765			24,365
	ColFin STC Funding, LLC		Acquired performing senior mortgage loan secured by a retail property in Florida		50	%		23,299			—
	W&D Interim Lender, LLC (3)		First mortgage loan secured by a student housing community in New York		90	%		22,309			—
	ColFin Mizner Funding, LLC		First mortgage loan origination secured by a multifamily development parcel located in Florida		50	%		21,130			—
	ColFin Cabo Palm Funding, LLC		Participation in junior first mortgage interest secured by a luxury beach resort in Mexico		50	%		20,072			—
	ColFin 666 Funding, LLC		First mortgage pari-passu participation interest secured by Class A midtown Manhattan office building		33.3	%		19,096			17,595
	ColFin PHX Tower Funding, LLC		Equity interest in a high-rise office tower located in Phoenix, Arizona		50	%		18,408			16,454
	ColFin London Funding, LLC		8 performing and non-performing acquired loans secured by commercial real estate		50	%		18,138			37,427
	ColFin 2012 CRE ADC Holdco, LLC and Colony AMC 2012 CRE ADC, LLC		383 performing and non-performing loans acquired in a structured transaction with the FDIC, mostly secured by commercial real estate and 5 REO properties		50	%		16,795			15,370
	ColFin Grand Cul Funding, LLC		First mortgage loans secured by a partially constructed hotel and residential development project located in the Caribbean		33.3	%		16,595			—
	ColFin Inland Funding, LLC and ColFin Inland Investor, LLC		First mortgage loan secured by a Southern California master planned development and equity participation rights		50	%		16,068			15,086
	ColFin FCDC Funding, LLC		Equity interests acquired through deed-in-lieu in 2 partially developed master planned communities located in California		50	%		15,894			15,422
	ColFin ARP Funding, LLC		First mortgage loan to finance the acquisition and redevelopment of high-end, single family residential properties in infill, coastal southern California markets		50	%		15,350			—
	Other unconsolidated joint ventures		26 investments with less than $15 million carrying value at December 31, 2013		4.5% to			201,543			228,515
					50.00%
								$	1,369,529		$	877,081
	-1	The Company's ownership percentage represents capital contributed to date and may not be reflective of the Company's economic interest in the entity because of provisions in operating agreements governing various matters, such as classes of partner or member interests, allocations of profits and losses, preferential returns and guaranty of debt. Each unconsolidated joint venture has been determined to be either a VIE for which the Company was not deemed to be the primary beneficiary or a voting interest entity in which the Company does not have a controlling financial interest.
	-2	While the Company has a majority ownership interest in Portfolio 8 Investors, LLC, the minority member has control over the day-to-day operations of the entity. Accordingly, the Company accounts for its investment using the equity method.
	-3	The Company has determined that W&D Interim Lender, LLC is a VIE for which the Company is not the primary beneficiary because the power to direct the activities that most significantly impact the VIE is shared equally between its members but the other member has the obligation to absorb losses of the VIE that potentially could be significant to the VIE. Accordingly, the Company accounts for its investment using the equity method.
	Activity in the Company’s investments in unconsolidated joint ventures is summarized below:
	(In thousands)		2013				2012
	Balance at January 1		$	877,081			$	443,500
	Contributions		672,338				528,347
	Assignment of loans receivable and related liabilities		—				29,427
	Distributions		(279,161		)		(201,335		)
	Equity in net income		100,708				68,737
	Equity in other comprehensive income		9,827				7,144
	Equity in realized gain reclassified from accumulated other comprehensive income		(12,935		)		—
	Foreign currency translation gain		1,671				1,261
	Balance at December 31		$	1,369,529			$	877,081
	During the year ended December 31, 2013, the Company invested a combined $369 million in 14 new unconsolidated joint ventures representing 10 originations and four loan acquisitions, and $295 million in CAH OP. Six investments in unconsolidated joint ventures were fully resolved during the year.
	During the year ended December 31, 2012, the Company invested a combined $528 million in 15 new unconsolidated joint ventures representing four originations, 10 loan acquisitions, and $255 million in CAH OP. Three investments in unconsolidated joint ventures were fully resolved during the year.
	To-date, the Company has invested cumulative $550 million in CAH OP. As of December 31, 2013, the Company had no further capital commitments to CAH OP.
	Combined condensed balance sheets and statements of operations for all unconsolidated joint ventures are presented below:
	Combined Condensed Balance Sheets of Unconsolidated Joint Ventures
			December 31,
	(In thousands)		2013				2012
	Assets:
	Cash and cash equivalents		$	321,183			$	156,704
	Loans receivable, net		2,171,943				2,383,748
	Investments in real estate		3,658,940				990,105
	Investments in unconsolidated joint ventures		459,010				436,188
	Debt and equity securities, available-for-sale, at fair value		24,753				247,963
	Other assets		345,196				825,804
	Total assets		$	6,981,025			$	5,040,512
	Liabilities:
	Debt		$	1,515,188			$	1,018,865
Other liabilities		140,509				65,193
Total liabilities		1,655,697				1,084,058
Owners’ equity		4,465,363				2,997,533
Noncontrolling interests		859,965				958,921
Total liabilities and equity		$	6,981,025			$	5,040,512
Company’s share of equity		$	1,369,529			$	877,081
Combined Condensed Statements of Operations of Unconsolidated Joint Ventures
		Year Ended December 31,
(In thousands)		2013				2012			2011
Income:
Interest income		$	362,163			$	372,958		$	320,409
Property operating income		206,848				96,897			5,998
Equity in income of unconsolidated joint ventures		26,410				53,110			75,953
Other income		25,221				29,325			14,962
Total income		620,642				552,290			417,322
Expenses:
Interest expense		31,012				37,185			26,950
Property operating expenses		152,154				73,770			9,695
Depreciation and amortization		59,902				12,850			953
Other expenses		90,547				88,662			61,682
Total expenses		333,615				212,467			99,280
Other income:
Realized and unrealized gain on investments, net		194,372				145,258			71,651
Net income		481,399				485,081			389,693
Net income attributable to noncontrolling interests		102,431				84,806			81,439
Net income attributable to members		$	378,968			$	400,275		$	308,254
Company’s equity in net income		$	100,708			$	68,737		$	46,720
The Company’s investments in CAH OP represented 20% and 18% of the Company's total assets as of December 31, 2013 and December 31, 2012, respectively. No other single investment represented greater than 10% of total assets.
For the year ended December 31, 2012, ColFin WLH Funding, LLC generated greater than 10% of total income of the Company. For the year ended December 31, 2011, ColFin FRB Investor, LLC and ColFin WLH Funding, LLC individually generated greater than 10% of total income. On a combined basis, these investments generated 12% and 24% of total income for the years ended December 31, 2012 and 2011, respectively. No single investment in an unconsolidated joint venture generated greater than 10% of total income for the year ended December 31, 2013.
Related Party Transactions of Unconsolidated Joint Ventures—The Company has equity ownership interests in certain unconsolidated asset management companies (each an “AMC”) that provide management services to certain of its unconsolidated joint ventures. The AMCs earn annual management fees equal to 50 to 75 basis points times the outstanding UPB of each loan portfolio and are responsible for the payment of allocations of compensation, overhead and direct costs incurred by an affiliate of the Manager pursuant to a cost allocation arrangement (see Note 14).
Certain unconsolidated joint ventures reimburse Colony Capital and its affiliates for costs incurred on their behalf, including costs of property management personnel. The joint ventures, including AMCs, were allocated approximately $26.7 million, $12.9 million and $7.7 million in costs from such affiliates of the Manager for the years ended December 31, 2013, 2012 and 2011, respectively. Such costs are included in property operating and other expenses in the combined condensed statements of operations of unconsolidated joint ventures above. The Company’s proportionate share, based upon its percentage interests in the joint ventures, was $7.3 million, $3.8 million and $1.6 million for the years ended December 31, 2013, 2012 and 2011, respectively.
Until October 16, 2013, an affiliate of CAH OP's manager provided construction and rehabilitation services on the single-family rental homes held through CAH OP. CAH OP reimbursed approximately $66.5 million and $5.4 million for the years ended December 31, 2013 and 2012, respectively, to the affiliate for third party costs and overhead, which have been capitalized or expensed, as appropriate, in accordance with the capitalization policy of CAH OP. Pursuant to a distribution agreement dated as of October 16, 2013, the affiliate relationship between CAH OP’s manager and the provider of such construction and rehabilitation services ended.

Loans_Receivable_Notes

Loans Receivable (Notes)	12 Months Ended
	Dec. 31, 2013
Receivables [Abstract]	'
Loans Receivable	'
	Loans Receivable
	The following table summarizes the Company’s loans held for investment by class of receivable:
			31-Dec-13														31-Dec-12
	(Amounts in thousands)		Principal				Carrying				Weighted			Weighted	Number of Loans		Principal		Carrying		Weighted		Weighted	Number of Loans
							Amount				Average			Average					Amount		Average		Average
											Coupon			Maturity in Years							Coupon		Maturity in Years
	Non-PCI Loans:
	Mortgage loans		$	463,552			$	423,078			7.1	%		3.9	33		$	233,003	$	203,098	8.9	%	2.1	3
	B-note		104,068				103,458				10.9	%		3.8	2		14,558		14,471		20.9	%	3.3	1
	Mezzanine loans		330,909				328,185				11	%		2.4	2		116,000		116,000		10.1	%	5.2	3
			898,529				854,721								37		363,561		333,569					7
	Purchased Credit-Impaired Loans:
	Mortgage loans		299,235				173,933								5		—		—					—
			$	1,197,764			$	1,028,654							42		$	363,561	$	333,569				7
	The following table summarizes the Company's investments in non-PCI loans with variable interest rates:
	(Amounts in thousands)		Index		Weighted Average Spread		Weighted Average Rate		Principal				Carrying Amount			Number of Loans
	31-Dec-13
	Mortgage loans		1-Month LIBOR	(1)	4.85%		7.71%	(3)	$	246,478			$	220,111		9
	Mortgage loan		1-Month Reference Bills	(2)	4.65%		4.66%		30,064				27,595			3
	Mezzanine loans		1-Month LIBOR		10.80%		10.97%		330,909				328,185			2
									$	607,451			$	575,891		14
	December 31, 2012
	Mortgage loan		1-Month LIBOR		4.00%		8.57%		$	171,961			$	142,575		1
	-1	LIBOR =ondon Interbank Offered Rate
	-2	Reference Bills =reddie Mac Reference Bill index
	-3	Certain loans are subject to a LIBOR floor which is higher than the actual LIBOR at December 31, 2013.
	Activity in loans held for investment is summarized below:
	(In thousands)		2013				2012				2011
	Balance at January 1		$	333,569			$	232,619			$	69,929
	Loan acquisitions and originations		876,503				204,298				160,980
	Paid-in-kind interest added to loan principal		218				851				608
	Discount and net loan fee amortization		10,053				3,656				1,332
	Carrying value of loans sold		(70,280		)		(30,159		)		—
	Assignment of loans receivable to investment in unconsolidated joint ventures		—				(29,612		)		—
	Noncash distribution of loan receivable to a noncontrolling interest		(18,500		)		—				—
	Principal repayments		(106,083		)		(48,084		)		(230		)
	Payments received from PCI loans		(544		)		—				—
	Effect of foreign exchange rates		3,718				—				—
	Balance at December 31		$	1,028,654			$	333,569			$	232,619
	During the year ended December 31, 2013, the Company invested $877 million in the origination or acquisition of loans as follows:
	•	$122 million to participate in the origination of a first mortgage loan secured by 11 athletic clubs located in California;
	•	$328 million to participate in the origination of mezzanine loans secured by equity interests in an entity owning a portfolio of hotels located throughout the United States, including $154 million by noncontrolling interests;
	•	$177 million to acquire a portfolio of 27 loans secured by multifamily and senior housing properties located throughout the United States, including $48 million by noncontrolling interests. Two of the loans in the portfolio are PCI loans;
	•	$164 million to acquire a portfolio of three PCI loans secured by office and retail properties in Spain, including $28 million by a noncontrolling interest; and
	•	$86 million, net of origination fees, to originate 6 loans within the Company's Transitional CRE Lending Platform. These loans are earmarked for a potential floating rate securitization. The loans bear interest, on a weighted average basis, at 1-month LIBOR plus 6.5%, and have initial terms of 2 to 3 years. The underlying collateral includes retail, multifamily, office and hospitality properties.
	During the year ended December 31, 2013, the Company resolved certain loans as follows:
	•	The borrowers of a first mortgage loan originated in December 2010 and mezzanine loans originated in June 2011 paid off the entire loan balances and accrued interest thereon, including a yield maintenance premium of $3.6 million for the first mortgage loan (see Note 9);
	•	The Company split an originated first mortgage loan into a $32.8 million A-note and $90.1 million B-note, and sold the A-note to an unrelated party at par; and
	•	The Company sold its pro-rata share of its investment in two performing hotel portfolio mezzanine loans resulting in a realized gain of approximately $1.1 million.
	A mezzanine loan partially owned by noncontrolling interests and secured by hotel properties represented 12% of the Company's total assets as of December 31, 2013. The same loan generated 13% of total income for the year ended December 31, 2013. No single loan receivable represented greater than 10% of total assets as of December 31, 2012.
	Two first mortgage loans, which share the same corporate guarantor and partially owned by noncontrolling interests, generated 14% and 18% of total income for the years ended December 31, 2013 and 2012, respectively. No single loan generated greater than 10% of total income for the year ended December 31, 2011.
	As of December 31, 2013 and 2012, all loans were current and performing in accordance with their contractual terms. There were no troubled debt restructurings during the years ended December 31, 2013, 2012 and 2011.
	Minimum scheduled principal payments required under the loan agreements, excluding PCI loans, as of December 31, 2013 are as follows:
	Year Ending December 31,		(In thousands)
	2014		$	150,835		(1)
	2015		68,582
	2016		452,380
	2017		111,941
	2018		7,360
	2019 and after		95,931
	Total		$	887,029
	(1) Net of $11.5 million credit available to borrower upon full payoff.
	Purchased Credit-Impaired Loans
In October 2013, the Company and a 27% noncontrolling interest acquired a portfolio of 27 loans secured by multifamily and senior housing assets, all of which were performing at acquisition. Two of the 27 loans are considered PCI loans for which the Company expects to collect less than the contractually required amounts. In November 2013, the Company and a 17% noncontrolling interest acquired participation interests in three PCI loans secured by office and retail properties in Spain.
The excess of cash flows expected to be collected, as measured at acquisition date, over the initial investment is referred to as the accretable yield. This amount is not reported in the accompanying consolidated balance sheets, but is recognized as interest income over the estimated life of the acquired loans using the effective interest method.
The following table summarizes the accretable yield and nonaccretable difference at acquisition for PCI loans acquired during the year ended December 31, 2013:
(In thousands)
Contractually required payments including interest	$	315,939
Less: cash flows not expected to be collected (nonaccretable difference)	17,253
Total cash flows expected to be collected	298,686
Less: accretable yield	131,037
Fair value of loans at acquisition	$	167,649
The expected cash flows were determined based on the estimated performance over the remaining life of the underlying loans. Fair value of the acquired loans include credit losses expected to be incurred over the life of the loans, if any.
Changes in the accretable yield for the PCI loans were as follows:
(In thousands)		2013
Accretable yield at January 1		$	—
Additions		131,037
Accretion		(3,108		)
Effect of foreign exchange rates		2,894
Accretable yield at December 31		$	130,823
The factors that most significantly affect estimates of cash flows expected to be collected, and accordingly the accretable yield, include: (i) estimate of the remaining life of acquired loans which may change the amount of future interest income; (ii) changes to prepayment assumptions; (iii) changes to collateral value assumptions for loans expected to foreclose; and (iv) changes in interest rates on variable rate loans. During the year ended December 31, 2013, there were no changes to estimates of cash flows expected to be collected on PCI loans, as all PCI loans were acquired during the fourth quarter of 2013 and there were no significant changes to the factors described above since their acquisition.

Acquisition_of_Real_Estate_Not

Acquisition of Real Estate (Notes)	12 Months Ended
	Dec. 31, 2013
Business Combinations [Abstract]	'
Acquisition of Real Estate	'
	Acquisition of Real Estate
	On December 9, 2013, the Company acquired an office campus in Minnesota from an unrelated third party. The property includes two buildings with approximately 502,000 total rentable square feet (unaudited) and fully occupied by a single-A rated tenant under a triple net lease. The acquisition cost, including closing costs of $0.6 million, was approximately $123.4 million. The acquisition was subsequently financed with a $88 million 10-year term, non-recourse, fixed-rate mortgage loan from a financial institution (see Note 9). The acquisition was completed with a strategic partner with a 0.75% ownership interest.
	The related assets, liabilities, and results of operations of the acquired property are included in the consolidated financial statements as of the date of acquisition. The following table summarizes the estimated fair values of the assets at the acquisition date:
	(Amounts in thousands)		Purchase Consideration				Estimated Useful Life (in years)
	Real estate assets:
	Land		$	8,319			n/a
	Buildings and improvements		97,011			(1)	Oct-40
	Tenant improvements		7,356				6.8	(3)
	Identifiable intangible assets:
	In-place lease value		7,845			(2)	6.8	(3)
	Deferred leasing costs		2,219			(2)	6.8	(3)
	Total assets acquired		$	122,750
	-1	Buildings and improvements consist of two office buildings, two parking garages and non-building site improvements including paving, site lights, landscaping and others. Since the in-place lease represents a separate fair value component from the tangible real estate in an income-producing property subject to lease, the buildings were valued as if they were vacant and available to lease at market terms on the purchase date.
	-2	The net amount recorded for acquired identifiable intangible assets was included in other assets on the accompanying balance sheet as of December 31, 2013.
	-3	The lease-related tangible and intangible assets are amortized on a straight-line basis as an increase to depreciation and amortization expense over the remaining term of the applicable leases.
	The following table summarizes the results of operations of the acquired properties for the period from December 9, 2013, the date of acquisition, to December 31, 2013:
			(In thousands)
	Rental income and tenant reimbursements		$	789
	Net loss		(542		)
	The following table summarizes information regarding the components of real estate assets held for investment as of December 31, 2013:
			(In thousands)
	Land		$	8,319
	Buildings and improvements		97,011
	Tenant improvements		7,356
			112,686			(1)
	Accumulated depreciation		(218		)
	Net carrying amount		$	112,468
	-1	The aggregate gross cost of property for federal income tax purposes was approximately $121.1 million as of December 31, 2013.
	Depreciation expense for the year ended December 31, 2013 was $218,000.
	Acquired Intangible Assets
	The following table summarizes acquisition-related intangible assets as of December 31, 2013:
	(In thousands)		Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
	In-place lease		7,845			(72	)		7,773
	Deferred leasing costs		2,219			(20	)		2,199
			10,064			(92	)		9,972
	Amortization expense for the year ended December 31, 2013 was $92,000.
	Expected amortization expense for acquisition-related intangible assets for each of the next five years and thereafter is as follows as of December 31, 2013:
	(In thousands)
	Year Ending December 31,		In-Place Leases				Deferred Leasing Costs
	2014		$	1,152			$	326
	2015		1,152				326
	2016		1,152				326
	2017		1,152				326
	2018		1,152				326
	2019 and after		2,013				569
	Total		$	7,773			$	2,199
	Future Minimum Rent
	The in-place leases on the acquired operating properties expire in September 2020 with an option to renew and are subject to scheduled rent increases. The leases also provide for additional rents based on real estate taxes, utilities, insurance and certain operating expenses. The tenant elected to self-manage the office properties pursuant to the lease agreements.
	Future contractual minimum rental payments under noncancelable operating leases as of December 31, 2013 are as follows:
	Year Ending December 31,		(In thousands)
	2014		$	9,195
	2015		9,195
	2016		9,365
	2017		9,654
	2018		9,820
	2019 and after		17,380
	Total		$	64,609
	Unaudited Pro Forma Results
	The following table presents pro forma results of the Company as if the acquisition had been consummated on January 1, 2012. The pro forma results for the year ended December 31, 2013 were adjusted to exclude acquisition-related expenses of approximately $597,000 and the pro forma results for the year ended December 31, 2012 were adjusted to include these expenses. The unaudited pro forma results are not necessarily indicative of future operating results.
			Year Ended December 31,
	(Amounts in thousands, except per share data)		2013				2012
	Total income		$	192,095			$	119,800
	Net income attributable to common stockholders		$	80,952			$	47,563
Net income attributable to common stockholders per share–basic		$	1.21			$	1.31
Net income attributable to common stockholders per share–diluted		$	1.21			$	1.31

Beneficial_Interests_in_Debt_S

Beneficial Interests in Debt Securities (Notes)	12 Months Ended
	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]	'
Beneficial Interests in Debt Securities	'
	Beneficial Interests in Debt Securities
	On June 30, 2011, the Company, through a 99%-owned joint venture with a strategic partner, acquired $28 million in beneficial interests in a series of tax-exempt bonds with an aggregate principal amount of $40.4 million. The bonds are secured by a multifamily property located in Georgia. At closing, the bonds financed the acquisition of the property by an institutional real estate firm. The $28 million in beneficial interests, in the form of senior certificates, were acquired at par but had an estimated fair value of $32.1 million at acquisition. The bonds have a six-year term, bear interest at a fixed rate of 7.125%, require semi-annual interest payments each December and June, and may be prepaid, subject to the payment of certain fees. The beneficial interests in debt securities are classified as available-for-sale and stated at estimated fair value, with changes in fair value reflected in other comprehensive income or loss. The Company’s beneficial interests in debt securities are summarized below:
		December 31,
	(In thousands)	2013		2012
	Principal	$	28,000	$	28,000
	Unamortized premium	2,507		3,174
	Amortized cost	30,507		31,174
	Unrealized gain included in accumulated other comprehensive income	327		881
	Fair value	$	30,834	$	32,055
	Concurrently with the acquisition of beneficial interests in debt securities, the Company’s strategic partner entered into an interest rate swap agreement with the borrower (see Note 10).

Other_Assets_Notes

Other Assets (Notes)	12 Months Ended
	Dec. 31, 2013
Other Assets [Abstract]	'
Other Assets	'
	Other Assets
	The following table summarizes the Company's other assets, net:
			December 31,
	(In thousands)		2013			2012
	Restricted cash		$	7,898	(1)	$	13,866	(1)
	Deferred financing costs, net		11,275		(2)	2,281		(2)
	In-place lease value, net		7,773		(3)	—
	Deferred leasing costs, net		2,199		(4)	—
	Receivables		8,277			3,414
	Derivative assets, net of tax effect		3,108			760
	Deferred tax assets, net of allowances		2,391		(5)	1,176
	Other		979			1,166
	Total other assets		$	43,900		$	22,663
	-1	Restricted cash includes borrower escrow accounts and an interest reserve account to service secured financing.
	-2	Deferred financing costs are shown net of accumulated amortization of $6.5 million and $3.5 million as of December 31, 2013 and 2012, respectively.
	-3	In-place lease value is shown net of accumulated amortization of $72,000 as of December 31, 2013.
	-4	Deferred leasing costs are shown net of accumulated amortization of $20,000 as of December 31, 2013.
	-5	Deferred tax assets are shown net of allowances of $356,000 and $300,000 as of December 31, 2013 and 2012.

Line_of_Credit_Notes

Line of Credit (Notes)	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Line of Credit	'
	Line of Credit
	On August 6, 2013, the Company entered into a credit agreement (the “JPM Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent, and certain lenders. The JPM Credit Agreement provided a credit facility in the initial maximum principal amount of $360 million which may be increased to $600 million, subject to certain conditions, including each lender or substitute lender agreeing to provide commitments for such increased amount. In November 2013, the maximum principal amount was increased by $20 million to $380 million when one of the lenders increased its share of commitments. The maximum principal amount was again increased in January 2014 to $420 million.
	The JPM Credit Agreement replaces the previous credit agreement (the "BofA Credit Agreement"), dated as of September 1, 2011, with Bank of America, N.A. and certain lenders, which provided $175 million of credit availability. Borrowings under the JPM Credit Agreement were used by the Company to repay all obligations due under the BofA Credit Agreement, pay closing costs associated with the JPM Credit Agreement and finance investments in target assets, as well as for general corporate purposes.
	The maximum amount available to borrow under the JPM Credit Agreement at any time is limited by a borrowing base of certain investment assets, with the valuation of such investment assets generally determined according to a percentage of net book value or a multiple of Core Earnings (as defined in the management agreement between the Company and the Manager). As of December 31, 2013, the borrowing base valuation was sufficient to permit borrowings of up to the entire $380 million commitment, of which $241.5 million remained available.
	Advances under the JPM Credit Agreement accrue interest at a per annum rate equal to the sum of LIBOR plus 2.75% or 3.00%, depending upon the leverage ratio as defined in the JPM Credit Agreement. At December 31, 2013, the applicable spread was 2.75% and the Company had outstanding borrowings bearing weighted average interest at 2.92%. The Company also pays a commitment fee of 0.5% or 0.4% of the unused amount (0.5% at December 31, 2013), depending upon usage.
	The initial maturity date of the JPM Credit Agreement is August 5, 2016, and any amounts outstanding upon maturity will convert automatically to a fully amortizing 2-year term loan payable in quarterly installments. In the event of such conversions, the term loan will continue to bear interest at the same rate as the revolving loans from which it was converted.
	Some of the Company’s subsidiaries guaranty the obligations of the Company under the JPM Credit Agreement. As security for the advances under the JPM Credit Agreement, the Company and some of its affiliates pledged their equity interests in certain subsidiaries through which the Company directly or indirectly owns substantially all of its assets.
	The JPM Credit Agreement contains various affirmative and negative covenants, including financial covenants that require the Company to maintain minimum tangible net worth and liquidity levels and financial ratios, as defined in the JPM Credit Agreement. At December 31, 2013, the Company was in compliance with all of these financial covenants.
	The JPM Credit Agreement also includes customary events of default, in certain cases subject to reasonable and customary periods to cure, including but not limited to: failure to make payments when due; breach of covenants; breach of representations and warranties; insolvency proceedings; cross default to material indebtedness or material judgment defaults; certain judgments and attachments; and certain change of control events. The occurrence of an event of default may result in the termination of the credit facility, accelerate the Company’s repayment obligations, in certain cases limit the Company’s ability to make distributions, and allow the lenders to exercise all rights and remedies available to them with respect to the collateral. There have been no events of default since the inception of the credit facility.

Debt_Notes

Debt (Notes)	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Debt	'
	Debt
	Secured Financing
	The following table summarizes certain information about the Company's secured debt:
							Outstanding Balance
	(Amounts in thousands)						December 31,
	Type		Collateral		Interest Rate	Maturity Date	2013		2012
	Secured financing (1)		Portfolio of 25 first mortgage loans and 2 subordinated loans		1-month LIBOR+2.85%	Dec-17	$	115,000	$	—
	Secured financing (2)		Participation interest in first mortgage loan		5% fixed	Jul-14	74,607		94,499
	Secured financing (3)		N/A		4.85% fixed	Jan-16	—		13,668
	First mortgage loan (4)		Office property in Minnesota		4.84% fixed	Jan-24	88,000		—
	Total						$	277,607	$	108,167
	-1	The financing is secured by a loan portfolio acquired in October 2013. The financing requires monthly interest payments and principal curtailment based upon the ratio of principal outstanding to collateral cost basis. The initial principal curtailment requirement is 70% of all excess cash flow from the underlying loan portfolio, after payment of certain loan servicing fees and monthly interest, but may increase or decrease in the future.
	-2	In connection with the acquisition of a $181 million participation interest in a first mortgage loan in May 2012, the seller provided concurrent non-recourse financing for $103.5 million, or 65% of the purchase price. Concurrently with the loan acquisition, the borrower funded, on behalf of the Company, an interest reserve account in an amount sufficient to service the interest for the term of the secured financing. The interest reserve account is controlled by the secured financing lender and is included in other assets in the accompanying balance sheets. The financing has an initial maturity of July 2014 and can be extended to January 2017, subject to an extension fee. Upon exercise of the extension option, the borrower of the first mortgage loan will again be required to fund the interest reserve account on behalf of the Company to service the interest for the extended term of the secured financing.
	-3	On December 23, 2010, the Company assigned a $20.75 million first mortgage it originated to a third party in exchange for $14 million in proceeds, and retained a $6.75 million subordinated B-note participation. The Company accounted for the assignment as a financing transaction, as the Company retained effective control over the original first mortgage loan and, accordingly, it did not meet the criteria of a loan sale. In April 2013, as a result of a default by the borrower, the Company exercised its option to repurchase the A-note at par from the third party.
	-4	The loan requires monthly interest payments until January 2016, then principal and interest payments based on a 30-year amortization period. The loan agreement requires rent receipts from the collateral property to be initially deposited into a lockbox account controlled by the lender. The excess of monthly rent receipts over monthly debt service is remitted to the Company.
	The financing agreements require minimum scheduled principal payments or payments that depend upon the net cash flows from the collateral assets and the ratio of principal outstanding to collateral. The following table summarizes such minimum principal payments and estimated principal payments based upon reasonable expectations of cash flows from the underlying collateral assets as of December 31, 2013:
	Year Ending December 31,		(In thousands)
	2014		$	94,920
	2015		83,677
	2016		4,684
	2017		8,825
	2018		1,403
	2019 and after		84,098
	Total		$	277,607
	Convertible Senior Notes
	On April 10, 2013, the Company issued $200 million of its 5.00% Convertible Senior Notes due on April 15, 2023 (the "Convertible Notes"). The Convertible Notes were sold to the underwriters at a discount of 3%, resulting in net proceeds of $194 million to the Company. The Convertible Notes bear interest at 5.00% per annum payable semiannually in arrears on April 15 and October 15 of each year. The first interest payment in the amount of $5.1 million was made on October 15, 2013.
	The Convertible Notes are convertible, at the holders' option, into shares of the Company's common stock at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date, subject to certain limitations as described in the indenture, at the applicable conversion rate in effect on the conversion date. The conversion rate is initially set to equal 42.3819 shares of common stock per $1,000 principal amount of Convertible Notes (equivalent to a conversion price of approximately $23.60 per share of common stock), subject to adjustment upon the occurrence of certain events. The Company may redeem the Convertible Notes at its option at any time on or after April 22, 2020 if the last reported sale price of its common stock has been at least 130% of the conversion price of the Convertible Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption, at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

Derivatives_and_Hedging_Notes

Derivatives and Hedging (Notes)	12 Months Ended
	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivatives and Hedging	'
	Derivatives and Hedging
	Net Investment Hedges
	The Company has investments in unconsolidated joint ventures and loans denominated in Euro that expose the Company to foreign currency risk. At December 31, 2013 and 2012, the Company’s combined net investments in such joint ventures and loans receivable totaled approximately €166.2 million, or $228.4 million, and €31.3 million, or $41.3 million, respectively. The Company uses forwards and collars (consisting of caps and floors) without upfront premium costs to hedge the foreign currency exposure of its net investments. At December 31, 2013, the total notional amount of the collars was approximately €75.5 million, with termination dates ranging from July 2014 to December 2017, and the total notional amount of forward exchange contracts was €50 million, with a termination date of June 2014.
	Cash Flow Hedge
	In December 2013, the Company entered into an interest rate cap designated as a cash flow hedge to limit the exposure of increases in interest rates on one of the Company's LIBOR-indexed secured debt. The cap has a notional amount of $57.5 million and a 2.5% strike on one-month LIBOR and expires in November 2015.
	Non-Designated Hedges
	Non-designated hedges are derivatives that do not meet the criteria for hedge accounting or for which the Company did not elect to designate as hedges. The Company does not enter into derivative transactions for speculative or trading purposes, but may enter into derivatives to manage the economic risk of changes in foreign exchange rates or interest rates. The Company may also assume existing derivative instruments in connection with investment transactions. Changes in the fair value of derivatives not designated as hedges are recorded in other income or loss in the accompanying statements of operations.
	In connection with the acquisition of three PCI loans during November 2013 (see Note 4), the Company acquired two interest rate swaps with a combined notional of €79.5 million whereby it receives fixed coupons ranging from 4.10% to 4.24% of the notional amount and pays Euro Interbank Offered Rate ("Euribor"). The Company acquired the swaps at a cost of $2.8 million. These swaps effectively convert the acquired floating rate loans to fixed rate loans. One of the interest rate swaps terminated in December 2013 with a net settlement of $1.7 million to the Company. For the year ended December 31, 2013, an $18,000 gain was included in other loss, net in the accompanying statement of operations.
	Concurrently with the acquisition of beneficial interests in debt securities in June 2011 (see Note 6), the Company’s strategic partner entered into an interest rate swap agreement with the borrower which, in conjunction with a special contribution/distribution arrangement with the joint venture, will result in a net current yield to the joint venture of the Securities Industry and Financial Markets Association (“SIFMA”) Municipal Swap Index plus 3.25% per annum (3.31% at December 31, 2013). The Company determined that the special contribution/distribution arrangement is an embedded derivative that meets the criteria for bifurcation and recorded a derivative liability. The bifurcated derivative does not qualify as a hedging instrument, so changes in the estimated fair value of the derivative are recognized in income. For the years ended December 31, 2013, 2012 and 2011, unrealized losses of $112,000, $734,000 and $682,000, respectively, are included in other loss, net in the accompanying statements of operations.
	The fair values of derivative instruments included in the Company’s consolidated balance sheets are as follows:
		December 31,
	(In thousands)	2013		2012
	Assets
	Foreign exchange contracts designated as hedging instruments	$	2,126	$	760
	Interest rate cap designated as a hedging instrument	11		—
	Interest rate swaps not designated as hedging instruments	971		—
	Total derivatives included in other assets	$	3,108	$	760
	Liabilities
	Foreign exchange contracts designated as hedging instruments	$	5,504	$	293
	Embedded derivative liability not designated as a hedging instrument	2,952		3,898
	Total derivatives included in accrued and other liabilities	$	8,456	$	4,191
	Certain counterparties to the derivative instruments require the Company to deposit cash or other eligible collateral for derivative financial liabilities exceeding $100,000. As of December 31, 2013, the Company had no amounts on deposit related to these agreements.

Fair_Value_Measurements_Notes

Fair Value Measurements (Notes)	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	Financial Instruments Reported at Fair Value
	The Company has certain assets and liabilities that are required to be recorded at fair value on a recurring basis. The following table summarizes the fair values of those assets and liabilities:
		December 31,
	(In thousands)	2013		2012
	Assets
	Beneficial interests in debt securities	$	30,834	$	32,055
	Foreign currency derivative contracts	2,126		760
	Interest rate derivative contracts	982		—
		$	33,942	$	32,815
	Liabilities
	Foreign currency derivative contracts	$	5,504	$	293
	Embedded derivative liability associated with beneficial interests in debt securities	2,952		3,898
		$	8,456	$	4,191
	All of the fair values in the table above fall within Level 2 of the fair value hierarchy which rely on significant observable inputs, other than quoted market prices for identical assets or liabilities, including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
	The fair value of the beneficial interests in debt securities and the associated embedded derivative liability were determined by discounting the expected cash flows using observable current and forward rates of widely used indices that closely follow the SIFMA Municipal Swap Index. The fair values of foreign currency and interest rate derivative contracts are determined by discounting the expected cash flow of each derivative instrument based on forecast foreign exchange rates or interest rates. This analysis reflects the contractual terms of the derivatives, observable market-based inputs, and credit valuation adjustments to appropriately reflect the non-performance risk for both the Company and the respective counterparty. Although credit valuation adjustments, such as the risk of default, rely on Level 3 inputs, the Company has determined that these inputs are not significant to the overall valuation of its derivatives. As a result, derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.
	Fair Value Disclosure of Financial Instruments Reported at Cost
	The following tables present the estimated fair values and carrying values of the Company’s financial instruments carried at cost, aggregated by the level in the fair value hierarchy:
		Fair Value Measurements Using
	(In thousands)	Quoted Prices in		Significant		Significant		Total Fair		Carrying
		Active Markets		Other		Unobservable		Value		Value
		for Identical		Observable		Inputs
		Instruments		Inputs		(Level 3)
		(Level 1)		(Level 2)
	31-Dec-13
	Assets
	Investments in unconsolidated joint ventures	$	—	$	5,953	$	1,524,621	$	1,530,574	$	1,369,529
	Loans held for investment	—		—		1,034,600		1,034,600		1,028,654
	Liabilities
	Line of credit	$	—	$	138,500	$	—	$	138,500	$	138,500
	Secured financing	—		—		277,600		277,600		277,607
	Convertible senior notes	208,000		—		—		208,000		200,000
	31-Dec-12
	Assets
	Investments in unconsolidated joint ventures	$	—	$	20,667	$	910,450	$	931,117	$	877,081
	Loans held for investment	—		—		335,734		335,734		333,569
	Liabilities
	Line of credit	$	—	$	—	$	—	$	—	$	—
	Secured financing	—		—		108,090		108,090		108,167
	The Company estimates the fair value of financial instruments carried at historical cost on a quarterly basis. These instruments are recorded at fair value only if they are impaired. No impairment was recognized during the years ended December 31, 2013, 2012 and 2011.
	Fair values of loans receivable are estimated using inputs such as discounted cash flow projections, interest rates available for borrowers with similar credit metrics, market comparables, dealer quotes, and other quantitative and qualitative factors. Fair values of investments in unconsolidated joint ventures are primarily derived by applying the Company’s ownership interest to the fair value of the underlying assets and liabilities of each joint venture. The Company’s proportionate share of each joint venture’s fair value approximates the Company’s fair value of the investment, as the timing of cash flows of the joint venture does not deviate materially from the timing of cash flows the Company receives from the joint venture.
	The fair values of the Company's secured financing and line of credit at December 31, 2013 and 2012 were estimated by discounting expected future cash outlays at current interest rates available for similar instruments. The fair value of convertible senior notes was determined using the last trade price in active markets on the balance sheet date.
	The carrying values of interest receivable and accrued and other liabilities approximate their fair values due to their short term nature. Considerable judgment is necessary to interpret market data and develop estimated fair value. The use of different assumptions or methodologies could have a material effect on the estimated fair value amounts.

Stockholders_Equity_Notes

Stockholders' Equity (Notes)	12 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Stockholders' Equity	'
	Stockholders’ Equity
	The Company’s authorized capital stock consists of 50,000,000 shares of preferred stock, $0.01 par value per share, and 450,000,000 shares of common stock, $0.01 par value per share.
	Series A Preferred Stock
	As of December 31, 2013 and 2012, the Company had 10,080,000 shares of its 8.5% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (“Series A Preferred Stock”), issued and outstanding.
	In March 2012, the Company completed an underwritten public offering of 5,800,000 shares of its Series A Preferred Stock. The net offering proceeds, after deducting underwriting discounts and commissions and offering costs payable by the Company, were approximately $140 million.
	In July 2012, the Company completed an underwritten public offering of 4,280,000 shares of Series A Preferred Stock at a premium to par that translated to a strip yield of 8.3%. The net offering proceeds, after deducting underwriting discounts and commissions and offering costs payable by the Company, were approximately $106 million.
	The Company used a portion of the net proceeds from both offerings to repay amounts outstanding under the line of credit at the time of each offering and the remaining proceeds to fund acquisitions of target assets.
	The Series A Preferred Stock must be paid a dividend at a rate of 8.5% per year on the $25.00 liquidation preference before the common stock is entitled to receive any dividends. The Series A Preferred Stock is redeemable at $25.00 per share plus accrued and unpaid dividends (whether or not declared) exclusively at the Company’s option commencing on March 20, 2017 (subject to the Company’s right under limited circumstances to redeem the Series A Preferred Stock earlier in order to preserve its qualification as a REIT or upon the occurrence of a change of control (as defined in the articles supplementary relating to the Series A Preferred Stock)). The Series A Preferred Stock is senior to the Company’s common stock with respect to dividends and distributions, including distributions upon liquidation, dissolution or winding up. The Series A Preferred Stock generally does not have any voting rights, except if the Company fails to pay dividends on the Series A Preferred Stock for six or more quarterly periods (whether or not consecutive). Under such circumstances, the Series A Preferred Stock will be entitled to vote to elect two additional directors to the Company’s board of directors, until all unpaid dividends have been paid or declared and set aside for payment. In addition, certain changes to the terms of the Series A Preferred Stock cannot be made without the affirmative vote of holders of at least two-thirds of the outstanding shares of Series A Preferred Stock voting separately as a class.
	Common Stock Offerings
	The following table summarizes the sales of the Company's common stock for the years ended December 31, 2013, 2012 and 2011:
			Number of Shares			Average Price per Share				Net Proceeds
										(in thousands) (1)
	Apr-11		15,350,000			$	18.5			$	271,707
	Sep-12		8,050,000			18.53				148,969
	Dec-12		11,500,000			19.29				221,348
	Jan-13		11,500,000			20.2				232,020
	Nov-13		10,000,000			20.21				201,758
	At-the-market sales in 2013		1,901,755			21.65				40,765
	-1	Net of underwriting discounts and commissions and offering costs payable by the Company
	The Company used the net proceeds from the offerings to repay amounts outstanding under the line of credit at the time of the offering, fund acquisitions of target assets and for working capital and general corporate purposes.
	At-The-Market Stock Offering Program ("ATM Program")
	In May 2013, the Company entered into separate “at-the-market” equity distribution agreements with certain sales agents to offer and sell, from time to time, shares of its common stock having an aggregate offering price of up to $200 million. Sales of the shares may be made in negotiated transactions and/or transactions that are deemed to be "at the market" offerings, including sales made by means of ordinary brokers' transactions, including directly on the New York Stock Exchange (“NYSE”), or sales made to or through a market maker other than on an exchange. The Company is required to pay each sales agent a commission not to exceed 2% of the gross sales proceeds for any common stock sold through such agent.
	2010 Private Placement
	In December 2010, the Company sold 2,750,000 shares of its common stock at a price per share of $20.25 to certain institutional investors (the “Investors”) in a private placement (“2010 Private Placement”), resulting in total proceeds of $55.7 million. In connection with the 2010 Private Placement, the Investors were granted a right to participate in offerings of the Company's common stock or common stock equivalents that occurred on or before December 20, 2011, the one-year anniversary of the closing of the 2010 Private Placement (the “Participation Period”), subject to such Investors continuing to own the shares acquired in the 2010 Private Placement. The participation right allowed the Investors to maintain their percentage ownership interest in the Company calculated immediately prior to such offerings (subject to certain limitations). In addition, if any such offering during the Participation Period was for a per share price less than the then-prevailing adjusted purchase price (which was to be adjusted from time to time as a result of, among other things, special dividends, stock splits and other similar events), the Company was required to make a payment to any Investors who continued to own shares acquired in the 2010 Private Placement to reduce the aggregate purchase price of the 2010 Private Placement to the subsequent offering price (“Anti-Dilution Purchase Price Adjustment”). The Anti-Dilution Purchase Price Adjustment was accounted for as a component of stockholders' equity, as it was not legally detachable or separately exercisable from the common stock sold in the private placement and met the criteria for equity classification.
	As a result of the Company offering shares of its common stock in April 2011 at a per share price of $18.50, the Company issued 175,000 shares of its common stock valued at $18.50 per share and made an aggregate cash payment of $162,500 to certain Investors for a total Anti-Dilution Purchase Price Adjustment of $3.4 million. The increase in additional paid-in capital resulting from the issuance of 175,000 shares of common stock was fully offset by a corresponding decrease in additional paid-in capital related to the 2010 Private Placement.
	Shares Issued to Manager
	In November 2011, the Company issued 287,500 shares of its common stock to the Manager as reimbursement of its partial payment of initial underwriting discounts and commissions in connection with the Company's initial public offering ("IPO") in 2009. During the years ended December 31, 2012 and 2011, the Company issued 65,703 and 5,989 shares of its common stock, respectively, to the Manager in full payment of the incentive fees earned by the Manager (see Note 14).
	Dividend Reinvestment and Direct Stock Purchase Plan
	The Company’s Dividend Reinvestment and Direct Stock Purchase Plan (the “DRIP Plan”) provides existing common stockholders and other investors the opportunity to purchase shares (or additional shares, as applicable) of the Company’s common stock by reinvesting some or all of the cash dividends received on their shares of the Company’s common stock or making optional cash purchases within specified parameters. The DRIP Plan acquires shares either in the open market, directly from the Company as newly issued common stock, or in privately negotiated transactions with third parties. As of December 31, 2013, no shares had been acquired under the DRIP Plan from the Company in the form of new issuances.
	Common Stock Repurchases
	In August 2011, the board of directors authorized a common stock repurchase program pursuant to which the Company was authorized to repurchase up to $50 million of its outstanding shares of common stock over a twelve-month period. During the year ended December 31, 2011, the Company repurchased 580,600 shares of its common stock at an aggregate cost of $8.7 million including commissions, or a weighted-average cost of $14.90 per share, in the open market. The program expired in August 2012. Repurchases of common stock reduce the common stock account for the par value and additional paid-in capital for the excess of cost over par value.
	Accumulated Other Comprehensive Income
	The following tables present the changes in each component of accumulated other comprehensive income attributable to the stockholders, net of immaterial tax effect:
	(In thousands)		Equity in AOCI of Unconsolidated Joint Ventures				Unrealized Gain on Beneficial Interests in Debt Securities				Unrealized Gain on Fair Value of Cash Flow Hedge			Foreign Currency Translation Gain/Loss			Unrealized Gain/Loss on Fair Value of Net Investment Hedges			Total
	Balance at December 31, 2010		$	1,410			$	—			$	—		$	(1,075	)	$	601		$	936
	Other comprehensive (loss) income before reclassifications		(1,010		)		611				—			(3,159		)	1,192			(2,366		)
	Amounts reclassified from accumulated other comprehensive income		(806		)		—				—			(94		)	—			(900		)
	Net other comprehensive (loss) income		(1,816		)		611				—			(3,253		)	1,192			(3,266		)
	Balance at December 31, 2011		(406		)		611				—			(4,328		)	1,793			(2,330		)
	Other comprehensive income (loss) before reclassifications		7,135				266				—			905			(1,176		)	7,130
	Amounts reclassified from accumulated other comprehensive income		—				—				—			356			28			384
	Net other comprehensive income (loss)		7,135				266				—			1,261			(1,148		)	7,514
	Balance at December 31, 2012		6,729				877				—			(3,067		)	645			5,184
	Other comprehensive income (loss) before reclassifications		9,787				(552		)		(19		)	4,983			(3,846		)	10,353
	Amounts reclassified from accumulated other comprehensive income		(12,895		)		—				—			(67		)	18			(12,944		)
	Net other comprehensive (loss) income		(3,108		)		(552		)		(19		)	4,916			(3,828		)	(2,591		)
	Balance at December 31, 2013		$	3,621			$	325			$	(19	)	$	1,849		$	(3,183	)	$	2,593
	Information about amounts reclassified out of accumulated other comprehensive income by component is presented below:
		(In thousands)		Year Ended December 31,
		Component of Accumulated		2013				2012				2011			Affected Line Item in the
		Other Comprehensive Income													Consolidated Statements of Operations
		Equity in realized gain on sale of marketable securities of unconsolidated joint ventures		$	12,895			$	—			$	806		Equity in income of unconsolidated joint ventures
		Net settlement loss on derivative instruments designated as net investment hedges		(18		)		(28		)		—			Other loss, net
		Realized foreign exchange gain (loss)		67				(356		)		94			Other gain (loss), net

Earnings_per_Share_Notes

Earnings per Share (Notes)	12 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Earnings per Share	'
	Earnings per Share
	The following table provides the basic and diluted earnings per common share computations:
			Year Ended December 31,
	(In thousands, except share and per share data)		2013			2012			2011
	Numerator:
	Net income		$	125,923		$	68,205		$	43,364
	Net income attributable to noncontrolling interest		(24,158		)	(6,194		)	(1,104		)
	Net income attributable to Colony Financial, Inc.		101,765			62,011			42,260
	Preferred dividends		(21,420		)	(13,915		)	—
	Net income attributable to common stockholders		80,345			48,096			42,260
	Net income allocated to participating securities (nonvested shares)		(725		)	(476		)	(8		)
	Numerator for basic net income allocated to common stockholders		79,620			47,620			42,252
	Interest expense attributable to convertible senior notes		—			—			—
	Numerator for diluted net income allocated to common stockholders		$	79,620		$	47,620		$	42,252
	Denominator:
	Basic weighted average number of common shares outstanding		66,181,700			35,925,600			28,732,200
	Weighted average effect of dilutive shares (1)		—			17,600			261,500
	Diluted weighted average number of common shares outstanding		66,181,700			35,943,200			28,993,700
	Earnings per share:
	Net income attributable to common stockholders per share–basic		$	1.2		$	1.33		$	1.47
	Net income attributable to common stockholders per share–diluted		$	1.2		$	1.32		$	1.46
	-1	For the year ended December 31, 2013, excluded from the calculation of diluted income per share are 6,154,100 weighted average dilutive common share equivalents which represent the assumed dilutive effect of the Convertible Senior Notes as the effect of their inclusion would be antidilutive. For the years ended December 31, 2012 and 2011, weighted average dilutive shares represent the effect of shares of common stock issuable to the Manager for incentive fees due for the period. For the year ended December 31, 2011, weighted average dilutive shares also include the effect of shares of common stock issuable for reimbursement of the Manager’s partial payment of underwriting discounts and commissions incurred in connection with the Company’s IPO (see Note 12).

Related_Party_Transactions_Not

Related Party Transactions (Notes)	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	Related Party Transactions
	Management Agreement
	The Manager provides the day-to-day management of the Company’s operations pursuant to a management agreement. The Manager is responsible for (1) selecting, purchasing and selling the Company’s portfolio investments, (2) the Company’s financing activities and (3) providing investment advisory services. The management agreement requires the Manager to manage the Company’s business affairs in conformity with the Company’s investment guidelines and other policies that are approved and monitored by the Company’s board of directors. The Manager’s role is under the supervision and direction of the Company’s board of directors. The initial term of the management agreement expired on September 29, 2012 (the third anniversary of the completion of the IPO) and automatically renews for one-year terms. The management agreement may be terminated upon at least 180 days’ prior written notice to the Manager.
	Base Management Fee—The Manager earns a base management fee of 1.5% of stockholders’ equity, per annum. For purposes of calculating the base management fee, stockholders’ equity means: (a) the sum of (1) the net proceeds from all issuances of equity securities since inception (allocated on a pro rata basis for such issuances during the fiscal quarter of any such issuance), plus (2) retained earnings at the end of the most recently completed calendar quarter (as determined in accordance with GAAP, adjusted to exclude any non-cash equity compensation expense incurred in current or prior periods), less (b) any amount paid to repurchase the Company’s common stock since inception. The definition of stockholders’ equity also excludes (1) any unrealized gains or losses from mark-to-market valuation changes (other than permanent impairment) that have impacted stockholders’ equity as reported in the financial statements prepared in accordance with GAAP, (2) the effect of any gains or losses from one-time events pursuant to changes in GAAP, (3) non-cash items which in the judgment of management should not be included in Core Earnings (as defined below) and (4) the portion of the net proceeds of the IPO and the concurrent private placement that have not yet been initially invested in the Company’s target assets. For items (2) and (3), such exclusions shall only be applied after discussions between the Manager and the independent directors and after approval by a majority of the independent directors. As a result, stockholders’ equity, for purposes of calculating the management fee, could be greater or less than the amount of stockholders’ equity shown in the Company’s financial statements.
	Incentive Fees—The Manager is entitled to an incentive fee with respect to each calendar quarter that the management agreement is in effect, in an amount not less than zero, equal to the difference between (1) the product of (x) 20% and (y) the difference between (i) Core Earnings (as defined below), on a rolling four-quarter basis and before the incentive fee for the current quarter, and (ii) the product of (A) the weighted average of the issue price per share of common stock in all of the Company’s offerings multiplied by the weighted average number of shares of common stock outstanding (including any restricted shares of common stock and any other shares of common stock underlying awards granted under our equity incentive plans, if any) in such four-quarter period and (B) 8%, and (2) the sum of any incentive fee paid to the Manager with respect to the first three calendar quarters of such previous four quarters; provided, however, that no incentive fee is payable with respect to any calendar quarter unless Core Earnings is greater than zero for the most recently completed 12 calendar quarters.
	Core Earnings is a non-GAAP measure and is defined as GAAP net income (loss) excluding non-cash equity compensation expense, incentive fees, real estate depreciation and amortization and any unrealized gains or losses from mark-to-market valuation changes (other than permanent impairment) that are included in net income. The amount is adjusted to exclude one-time events pursuant to changes in GAAP and certain other non-cash items after discussions between the Manager and the Company’s independent directors and after approval by a majority of the Company’s independent directors.
	The incentive fee is payable to the Manager quarterly in arrears in shares of the Company’s common stock, subject to certain ownership and NYSE limitations. The number of shares to be issued to the Manager is equal to the dollar amount of the portion of the quarterly installment of the incentive fee payable in shares divided by the average of the closing prices of the Company’s common stock on the NYSE for the five trading days prior to the date on which such quarterly installment is settled. The Company issued 65,703 and 5,989 shares of its common stock during the years ended December 31, 2012 and 2011, respectively, for incentive fees. No such shares were issued during the year ended December 31, 2013.
	Reimbursement of Expenditures—Pursuant to the management agreement, the Company is required to reimburse the Manager for expenditures incurred by the Manager on behalf of the Company, including legal, accounting, financial, due diligence and other services, in amounts which are no greater than those which would be payable to third parties negotiated on an arm’s length basis. In addition, pursuant to a secondment agreement between the Company and Colony Capital, the Company is responsible for Colony Capital’s expenses incurred in employing the Company’s chief financial officer/chief operating officer. The Company also reimburses Colony Capital for its pro rata portion of overhead expenses incurred by Colony Capital and its affiliates, including the Manager, based upon the ratio of the Company’s assets to all Colony Capital-managed assets.
	Cost Reimbursement for Asset Management Services
	Colony AMC Milestone West, LLC (“AMC Milestone West”) and Colony AMC Milestone North, LLC (“AMC Milestone North”), each a wholly-owned subsidiary of the Company, provide asset management services to two joint ventures with the FDIC (“FDIC Ventures”) for which certain of our unconsolidated joint ventures are managing members. The FDIC Ventures pay an annual 50-basis point asset management fee calculated on the aggregate UPB of each respective loan portfolio. In addition, one of the unconsolidated joint ventures reimburses AMC Milestone North for any expenses not covered by the 50-basis point fee. Asset management fees and expense reimbursements were $1.3 million, $2.0 million and $2.0 million for the years ended December 31, 2013, 2012 and 2011, respectively. Pursuant to a cost allocation arrangement, the Company reimburses an affiliate of the Manager for compensation, overhead and direct costs incurred by the affiliate related to providing asset management services. The Company reimbursed the affiliate $0.8 million, $1.1 million and $1.2 million for the years ended December 31, 2013, 2012 and 2011, respectively.
	Reimbursement of Manager's Partial Payment of Initial Underwriting Discounts and Commissions
	In connection with the IPO and the underwriters' exercise of the overallotment option, the underwriters deferred $5.75 million of underwriting discounts and commissions and the Manager paid the underwriters $5.75 million of underwriting discounts and commissions on the Company's behalf. Pursuant to the underwriting agreement entered into in connection with the IPO, the Company was required to pay the underwriters the deferred underwriting discounts and commissions in cash if, during any full four calendar quarter period during the 24 full calendar quarters after the consummation of the IPO, the Company's Core Earnings (as defined above) for any such four-quarter period exceeded the product of (1) the weighted average of the issue price per share of common stock in all offerings multiplied by the weighted average number of shares of common stock outstanding (including any restricted shares of common stock and any other shares of common stock underlying awards granted under equity incentive plans, if any) in such four-quarter period and (2) 8%. Additionally, pursuant to the management agreement, the Company was required to reimburse the Manager for its partial payment of initial underwriting discounts and commissions if the same 8% performance threshold was met. At the time of the IPO, the Company had recorded a deferred liability and a reduction of additional paid-in capital as the Company determined the likelihood of payment of both amounts to be probable.
	For the four calendar quarter period ended September 30, 2011, the Company's Core Earnings exceeded the 8% performance threshold. In November 2011, the Company settled both deferred amounts with a cash payment of $5.75 million to the underwriters and, pursuant to the management agreement, payment in the form of 287,500 shares of the Company's common stock (the reimbursement amount divided by the initial public offering price per share) to the Manager.
	Investment Allocation Agreement
	The Company, the Manager and Colony Capital entered into an investment allocation agreement which provides for the Company to co-invest with certain current or future private investment funds or other investment vehicles managed by Colony Capital or its affiliates to make investments in the Company's target assets. Under the investment allocation agreement, the Company is entitled (but not obligated) to contribute (subject to the Company’s investment guidelines, its availability of capital and maintaining its qualification as a REIT for U.S. federal income tax purposes and its exemption from registration under the Investment Company Act of 1940) at least one-half the capital to be funded by co-investment vehicles in assets secured by U.S. collateral (or at least one-third for assets secured by non-U.S. collateral). In the event that the Company does not have sufficient capital to contribute its full entitlement of the capital required for any proposed investment by such investment vehicles, the investment allocation agreement provides for a fair and equitable allocation of investment opportunities among all such vehicles and the Company, in each case, taking into account the suitability of each investment opportunity for the particular vehicle and the Company and each such vehicle’s and the Company’s availability of capital for investment.
	The Company does not incur any additional fees payable to Colony Capital, the Manager or any of their affiliates in connection with investments made pursuant to the investment allocation agreement. The Company is required to pay its pro rata portion (based upon percentage of equity) of transaction and other investment-level expenses incurred in connection with such co-investments.
	The following table summarizes the amounts incurred by the Company and payable to the Manager or its affiliates for the periods presented:
		Year Ended December 31,
	(In thousands)	2013		2012		2011
	Base management fees	$	22,265	$	12,332	$	8,128
	Incentive fees	—		936		349
	Compensation pursuant to secondment agreement	1,286		1,207		1,248
	Allocated and direct investment-related expenses	1,771		1,657		1,719
	Allocated and direct administrative expenses	1,787		1,253		344
		$	27,109	$	17,385	$	11,788
	The following table summarizes the amounts due to the Manager or its affiliates as of each balance sheet date:
		December 31,
	(In thousands)	2013		2012
	Base management fees	$	6,045	$	3,932
	Secondment reimbursement	895		844
	Reimbursement of direct and allocated administrative and investment costs	1,046		208
		$	7,986	$	4,984

ShareBased_Payments_Notes

Share-Based Payments (Notes)	12 Months Ended
	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Payments	'
	Share-Based Payments
	Director Stock Plan
	The Company’s 2009 Non-Executive Director Stock Plan (the “Director Stock Plan”) provides for the grant of restricted stock, restricted stock units and other stock-based awards to its non-executive directors. The maximum number of shares of stock reserved under the Director Stock Plan is 100,000. The individual share awards generally vest 1 year from the date of grant.
	Equity Incentive Plan
	The Company’s 2011 Equity Incentive Plan (the “Equity Incentive Plan”) provides for the grant of options to purchase shares of common stock, share awards (including restricted stock and stock units), stock appreciation rights, performance awards and annual incentive awards, dividend equivalent rights, long-term incentive units, cash and other equity-based awards. Certain named executive officers of the Company, other eligible employees, directors and service providers, including the Manager and employees of the Manager, are eligible to receive awards under the Equity Incentive Plan. The Company has reserved a total of 1,600,000 shares of common stock for issuance pursuant to the Equity Incentive Plan, subject to certain adjustments set forth in the plan. The share awards granted under this plan generally vest over a 3-year period from the date of grant.
	A summary of the Company’s vested and nonvested shares under the Director Stock Plan and Equity Incentive Plan for the year ended December 31, 2013 is presented below:
			Restricted Stock			Restricted		Restricted			Total		Weighted Average Grant Date Fair Value
			Grants to			Stock Grants		Stock Grants
			Non-Executive			to Employee		to the Manager or Manager's Employees
			Directors
	Nonvested shares at December 31, 2012		8,274			17,172		496,749			522,195		18.17
	Granted		6,837			—		—			6,837		21.94
	Vested		(8,274		)	—		—			(8,274	)	16.32
	Forfeited		—			—		(7,990	)		(7,990	)	16.16
	Nonvested shares at December 31, 2013		6,837			17,172		488,759			512,768		18.28
	Weighted average grant date fair value per share for shares granted during the year ended December 31, 2013		$	21.94		n/a		n/a
	The following table summarizes the components of share-based compensation included in the consolidated statements of operations:
			Year Ended December 31,
	(In thousands, except per share amounts)		2013			2012			2011
	Share-based compensation included in management fees		$	3,998		$	5,714		$	—
	Share-based compensation included in administrative expenses		285			419			116
	Total fair value of shares vested (1)		182			6,079			82
	Weighted average grant date fair value per share for shares granted during the period (1)		21.94			17.79			17.26
	-1	Based on the quoted closing share price of the Company's common stock on the NYSE on grant date or vesting date.
	As of December 31, 2013, aggregate unrecognized compensation cost related to restricted stock granted under the Director Stock Plan and Equity Incentive Plan was approximately $6.1 million. That cost is expected to be fully recognized over a weighted-average period of 20 months.

Income_Taxes_Notes

Income Taxes (Notes)	12 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	The Company’s TRSs are subject to corporate level federal, state, foreign and local income taxes. The following is a summary of the Company’s income tax provision:
		Year Ended December 31,
	(In thousands)	2013			2012			2011
	Current
	Federal	$	1,470		$	2,242		$	1,444
	State	671			669			252
	Total current tax provision	2,141			2,911			1,696
	Deferred
	Federal	(1,115		)	(661		)	(431		)
	State	(367		)	(85		)	(74		)
	Total deferred tax (benefit) provision	(1,482		)	(746		)	(505		)
	Total income tax provision	$	659		$	2,165		$	1,191
	Deferred tax assets of $2.4 million and $1.2 million are included in other assets as of December 31, 2013 and 2012, respectively. Deferred tax assets and liabilities arise from temporary differences in income recognition for GAAP and tax purposes and the tax effect of net foreign currency translation gains and losses on certain investments in unconsolidated joint ventures held in TRSs.
	The following table summarizes the income tax treatment of dividends declared for the years ended December 31, 2013, 2012 and 2011:
		Year Ended December 31,
		2013			2012			2011
	Common Stock:
	Ordinary income per share	$	0.98		$	0.83		$	1
	Long-term capital gains per share	0.42			0.61			0.31
	Total dividends declared per share	$	1.4		$	1.44		$	1.31
	Series A Preferred Stock:
	Ordinary income per share	$	1.48		$	1.01		$	—
	Long-term capital gains per share	0.65			0.74			—
	Total dividends declared per share	$	2.13		$	1.75		$	—

Commitments_and_Contingencies_

Commitments and Contingencies (Notes)	12 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Pursuant to the operating agreements of certain unconsolidated joint ventures, the joint venture partners may be required to fund additional amounts for future investments, unfunded lending commitments, ordinary operating costs, guaranties or commitments of the joint ventures. As of December 31, 2013, the Company’s share of those commitments was $8.5 million.
	The Company may be required to fund additional amounts to borrowers pursuant to certain loan agreements. As of December 31, 2013, the Company had combined unfunded lending commitments of $17.3 million.
	In connection with financing arrangements for certain unconsolidated joint ventures, the Company provided customary non-recourse carve-out guaranties. The Company believes that the likelihood of making any payments under the guaranties is remote, and has not accrued for a guaranty liability as of December 31, 2013.
	In the ordinary course of business, the Company may be involved in litigation which may result in legal costs and liability that could have a material effect on the Company’s financial position and results of operations. At December 31, 2013, the Company was not involved in such litigation.

Segment_Information_Notes

Segment Information (Notes)	12 Months Ended
	Dec. 31, 2013
Segment Reporting [Abstract]	'
Segment Information	'
	Segment Information
	The Company’s chief operating decision maker reviews various key financial measures to assess the performance and financial condition of each segment. Segment profit or loss is evaluated based upon income before income taxes, which includes equity in income of unconsolidated joint ventures, interest income and other income, less investment-specific expenses, including interest and asset management costs, as well as other gains or losses. Non-investment-specific income and expenses, such as interest income on cash and cash equivalents, management fees, interest expense on the line of credit and administrative expenses, are not allocated to specific segments. There is no intersegment activity. The Company’s segment disclosures present the measures used by the chief operating decision maker for purposes of assessing each segment’s performance.
	The operating results for each of the reportable segments are summarized below, including the reclassification of operating results of the other real estate equity segment for prior periods to conform to the current period presentation:
	(In thousands)	Real Estate			Single-Family			Other Real Estate Equity Investments		Amounts Not			Total
		Debt			Residential					Allocated to
		Investments			Rentals					Segments
	Year Ended December 31, 2013
	Income:
	Equity in income (loss) of unconsolidated joint ventures	$	89,553		$	(8,013	)	$	19,168	$	—		$	100,708
	Interest income	77,193			—			—		282			77,475
	Rental income and tenant reimbursements	—			—			789		—			789
	Other income from affiliates	1,267			—			—		—			1,267
	Total income	168,013			(8,013		)	19,957		282			180,239
	Expenses:
	Management fees	—			—			—		26,263			26,263
	Investment and servicing expenses	2,247			—			26		955			3,228
	Interest expense	5,295			—			227		13,316			18,838
	Property operating expenses	—			—			197		—			197
	Administrative expenses	178			—			—		7,370			7,548
	Depreciation and amortization	—			—			310		—			310
	Transaction costs	1,210			—			597		—			1,807
	Total expenses	8,930			—			1,357		47,904			58,191
	Realized gain on resolution of loans receivable	4,578			—			—					4,578
	Other loss, net	(44		)	—			—		—			(44		)
	Income (loss) before income taxes	163,617			(8,013		)	18,600		(47,622		)	126,582
	Income tax provision	—			—			—		659			659
	Net income (loss)	163,617			(8,013		)	18,600		(48,281		)	125,923
	Net income attributable to noncontrolling interests	22,892			—			1,266		—			24,158
	Net income (loss) attributable to Colony Financial, Inc.	$	140,725		$	(8,013	)	$	17,334	$	(48,281	)	$	101,765
	(In thousands)	Real Estate			Single-Family			Other Real Estate Equity Investments		Amounts Not			Total
		Debt			Residential					Allocated to
		Investments			Rentals					Segments
	Year Ended December 31, 2012
	Income:
	Equity in income (loss) of unconsolidated joint ventures	$	60,313		$	(2,126	)	$	10,550	$	—		$	68,737
	Interest income	36,275			—			—		170			36,445
	Other income from affiliates	1,973			—			—		—			1,973
	Total income	98,561			(2,126		)	10,550		170			107,155
	Expenses:
	Management fees	—			—			—		18,982			18,982
	Investment and servicing expenses	2,457			—			22		498			2,977
	Interest expense	4,409			—			—		3,839			8,248
	Administrative expenses	—			—			—		6,346			6,346
	Total expenses	6,866			—			22		29,665			36,553
	Realized gain on resolution of loans receivable	808			—			—					808
	Other loss, net	(1,040		)	—			—		—			(1,040		)
	Income (loss) before income taxes	91,463			(2,126		)	10,528		(29,495		)	70,370
	Income tax provision	—			—			—		2,165			2,165
	Net income (loss)	91,463			(2,126		)	10,528		(31,660		)	68,205
	Net income attributable to noncontrolling interests	6,194			—			—		—			6,194
	Net income (loss) attributable to Colony Financial, Inc.	$	85,269		$	(2,126	)	$	10,528	$	(31,660	)	$	62,011
	(In thousands)	Real Estate			Single-Family			Other Real Estate Equity Investments		Amounts Not			Total
		Debt			Residential					Allocated to
		Investments			Rentals					Segments
	Year Ended December 31, 2011
	Income:
	Equity in income (loss) of unconsolidated joint ventures	$	38,602		$	—		$	8,118	$	—		$	46,720
	Interest income	16,463			—			—		312			16,775
	Other income from affiliates	1,974			—			—		—			1,974
	Total income	57,039			—			8,118		312			65,469
	Expenses:
	Management fees	—			—			—		8,477			8,477
	Investment and servicing expenses	2,117			—			—		676			2,793
Interest expense	702			—			—		2,309			3,011
Administrative expenses	—			—			—		5,780			5,780
Total expenses	2,819			—			—		17,242			20,061
Other loss, net	(853		)	—			—		—			(853		)
Income (loss) before income taxes	53,367			—			8,118		(16,930		)	44,555
Income tax provision	—			—			—		1,191			1,191
Net income (loss)	53,367			—			8,118		(18,121		)	43,364
Net income attributable to noncontrolling interests	1,104			—			—		—			1,104
Net income (loss) attributable to Colony Financial, Inc.	$	52,263		$	—		$	8,118	$	(18,121	)	$	42,260
The net investments in each of the reportable segments are summarized as follows:
(In thousands)	31-Dec-13			31-Dec-12
Assets:
Real estate debt investments	$	1,707,228		$	939,448
Single-family residential rentals	530,007			251,501
Other real estate equity investments	344,244			70,496
Other assets not allocated to segments	47,073			174,122
Total consolidated assets	$	2,628,552		$	1,435,567

Selected_Quarterly_Financial_I

Selected Quarterly Financial Information (Notes)	12 Months Ended
	Dec. 31, 2013
Selected Quarterly Financial Information [Abstract]	'
Selected Quarterly Financial Information (Unaudited)	'
	Selected Quarterly Financial Information (Unaudited)
	The following is a summary of quarterly results of operations for the years ended December 31, 2013 and 2012:
		2013 Quarter Ended											2012 Quarter Ended
	(In thousands, except per share data)	Dec 31			Sep 30			30-Jun		31-Mar			Dec 31		Sep 30			30-Jun			31-Mar
	Equity in income of unconsolidated joint ventures	$	30,862		$	25,052		$	22,992	$	21,802		$	21,464	$	15,838		$	15,994		$	15,441
	Interest income	26,486			22,122			17,455		11,412			10,752		10,816			9,051			5,826
	Rental income and tenant reimbursements	789			—			—		—			—		—			—			—
	Other income from affiliates	283			296			317		371			458		396			569			550
	Total income	58,420			47,470			40,764		33,585			32,674		27,050			25,614			21,817
	Management fees	6,951			6,520			6,422		6,370			6,706		3,812			3,944			4,520
	Other expenses	12,167			7,861			7,094		4,806			4,662		4,583			4,398			3,928
	Total expenses	19,118			14,381			13,516		11,176			11,368		8,395			8,342			8,448
	Other (loss) gain, net	(19		)	860			3,756		(63		)	603		(331		)	(276		)	(228		)
	Income tax provision (benefit)	79			(14		)	242		352			764		596			441			364
	Net income	39,204			33,963			30,762		21,994			21,145		17,728			16,555			12,777
	Net income attributable to noncontrolling interest	8,946			7,514			5,111		2,587			2,261		2,170			1,454			309
	Net income attributable to Colony Financial, Inc.	30,258			26,449			25,651		19,407			18,884		15,558			15,101			12,468
	Preferred dividends	5,355			5,355			5,355		5,355			5,355		5,102			3,082			376
	Net income attributable to common stockholders	$	24,903		$	21,094		$	20,296	$	14,052		$	13,529	$	10,456		$	12,019		$	12,092
	Net income per common share—basic	$	0.34		$	0.32		$	0.31	$	0.22		$	0.31	$	0.3		$	0.36		$	0.37
	Net income per common share—diluted	$	0.34		$	0.32		$	0.31	$	0.22		$	0.31	$	0.3		$	0.36		$	0.37

Subsequent_Events_Notes

Subsequent Events (Notes)	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	On January 28, 2014, the Company issued $230.0 million of its convertible senior notes due on January 15, 2021, resulting in net proceeds of approximately $223.9 million to the Company after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The convertible notes bear interest at a rate equal to 3.875% per annum payable semiannually in arrears on January 15 and July 15 of each year, beginning on July 15, 2014. The Company used a portion of the net proceeds to repay amounts outstanding under its secured revolving credit facility, and intends to use the remainder to acquire its target assets and for general corporate purposes.
	Subsequent to the year end, the Company sold 405,899 shares of its common stock under the ATM Program for net offering proceeds of $8.5 million after deducting commissions.
	In January 2014, the Company awarded 500,000 restricted shares of its common stock to the Manager under the Equity Incentive Plan. The award vests over a 3-year period as follows: 25% on grant date and 25% on each of the three anniversaries of the grant date.
	In February 2014, the Company entered into a master repurchase agreement with a commercial bank to partially finance loans within its Transitional CRE Lending Platform. The repurchase facility provides up to $150 million of financing for eligible assets within the Transitional CRE Lending Platform and has an initial term of two years, plus a one-year extension option. Advances under the repurchase agreement will bear interest ranging from LIBOR plus a spread of 2.25% to 2.5%.
	Subsequent to the year end, the Company invested $45.8 million in one new investment and a combined $69.1 million in four new loan originations in the Transitional CRE Lending Platform.

Schedule_IVMortgage_Loans_on_R

Schedule IV—Mortgage Loans on Real Estate (Notes)	12 Months Ended
	Dec. 31, 2013
Mortgage Loans on Real Estate [Abstract]	'
Schedule IV - Mortgage Loans on Real Estate	'
	Colony Financial, Inc.
	Schedule IV—Mortgage Loans on Real Estate
	31-Dec-13
	(Amounts in thousands)
	Loan / Collateral Description / Location		Prior		Payment	Principal			Carrying		Interest			Maturity Date
			Liens(1)		Terms(2)				Amount		Rate
	First mortgages:
	Assisted Living - Dallas, TX		$	—	P&I	$	3,207		$	3,002	6.03	%		Nov-24
	Assisted Living - Kennewick, WA		—		P&I	10,875			9,973		6.07	%		Jan-17
	Hospitality - HI/NY		—		I/O	38,097			37,785		10.75	%		Sep-16
	Hospitality - North America		—		P&I	150,867		(3)	126,288		8.57	%		Jul-14
	Independent Living - Florissant, MO		—		P&I	9,277			8,655		5.95	%		Jun-16
	Multifamily - Phoenix, AZ		—		P&I	6,858			6,590		4.88	%		Sep-14
	Multifamily - Tucson, AZ		—		I/O	29,700			26,504		5.98	%		May-37
	Multifamily - Tucson, AZ		—		I/O	3,100			2,166		6.09	%		Dec-32
	Multifamily - El Cajon, CA		—		P&I	4,574			4,092		3.09	%		Dec-15
	Multifamily - Riverside, CA		—		P&I	7,677			7,189		5.58	%		Dec-15
	Multifamily - Branford, CT		—		P&I	18,000			16,416		4.16	%		Jan-19
	Multifamily - Gainesville, FL		—		P&I	7,101			6,680		5.9	%		Jun-19
	Multifamily - Jacksonville, FL		—		P&I	5,543			5,232		6.08	%		Dec-15
	Multifamily - Stockbridge, GA		—		P&I	6,360			6,074		5.43	%		Apr-15
	Multifamily - Niles, MI		—		P&I	1,224			1,198		8.05	%		Nov-15
	Multifamily - Gulfport, MS		—		I/O	9,500			9,417		6.17	%		Jan-16
	Multifamily - City Of Keene, NH		—		P&I	2,582			2,464		6.63	%		Nov-23
	Multifamily - Orange, NJ		—		P&I	3,087			3,004		6.4	%		Jul-34
	Multifamily - Las Vegas, NV		—		P&I	8,683			8,266		5.6	%		Dec-20
	Multifamily - Bronx, NY		—		I/O	1,399			1,343		5.19	%		Jan-15
	Multifamily - Columbus, OH		—		P&I	5,599			4,943		6.11	%		Aug-18
	Multifamily - Collegeville, PA		—		I/O	11,000			9,949		4.2	%		Sep-22
	Multifamily - Charleston, SC		—		P&I	1,540			1,453		6.11	%		Dec-20
	Multifamily - Houston, TX		—		P&I	7,901			7,418		5.2	%		Sep-15
	Multifamily - Houston, TX		—		P&I	2,762			2,377		4.66	%		Jul-17
	Multifamily - Gillette, WY		—		P&I	18,166			16,916		5.26	%		Apr-19
	Office - Ann Arbor, MI		—		I/O	10,425			10,338		7.17	%		Nov-15
	Office - Madrid, Spain (5)		—		P&I	91,972			55,979		1.14	%		Aug-17
	Office - Madrid, Spain (5)		—		P&I	17,782			8,623		1.67	%	(4)	Feb-15
	Office - Chattanooga, TN		—		I/O	11,300			11,211		6.67	%		Jan-17
	Other - Elkridge, MD		—		I/O	11,550			11,444		7.42	%		Oct-16
	Retail - Jonesboro, AR		—		I/O	11,200			11,110		7.42	%		Nov-15
	Retail - Leominster, MA		—		I/O	32,650			32,290		6.17	%		Jun-16
	Retail - Murcia, Spain (5)		—		P&I	183,727			105,397		1.39	%		Aug-16
	Student Housing - Georgetown , MI		—		P&I	4,412			3,921		3.49	%		Mar-16
	Student Housing - Beaumont, TX		—		P&I	9,135			8,302		3.46	%		Oct-15
	Subordinated debt and mezzanine:
	Healthcare - CA		32,607		P&I	89,669			89,064		9.32	%		Dec-17
	Hospitality - USA		770,000		I/O	330,909			328,185		10.97	%	(4)	Jun-16
	Mixed use - New York, NY		25,252		P&I	14,400			14,394		20.92	%		Mar-16
	Multifamily - Phoenix, AZ		—		P&I	2,654			1,767		5.6	%		Sep-14
	Multifamily - City of Keene, NH		—		P&I	1,300			1,235		6.43	%		Nov-23
			$	827,859		$	1,197,764		$	1,028,654
	-1	Prior liens represent loan amounts owned by third parties that are senior to the Company’s subordinated or mezzanine positions and are approximate.
	-2	P&I =rincipal and interest; I/O =nterest only
	-3	Includes $11.5 million credit available to borrower upon full payoff
	-4	The loan is composed of multiple promissory notes. The interest rate is a blended weighted average rate calculated based upon the outstanding principal and interest rate on each note.
	-5	Loans denominated in Euro are translated at the spot rate of exchange as of December 31, 2013.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Basis of Presentation	'
	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The portions of the equity, net income and other comprehensive income of consolidated subsidiaries that are not attributable to the parent are presented separately as amounts attributable to noncontrolling interests in the consolidated financial statements. A substantial portion of noncontrolling interests represent interests held by private investment funds or other investment vehicles managed by Colony Capital or its affiliates ("Co-Investment Funds").
Principles of Consolidation	'
	The Company consolidates entities in which it retains a controlling financial interest or entities that meet the definition of a variable interest entity (“VIE”) for which the Company is deemed to be the primary beneficiary. In performing its analysis of whether it is the primary beneficiary, at initial investment and at each quarterly reporting period, the Company considers whether it individually has the power to direct the activities of the VIE that most significantly affect the entity’s performance and also has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. The Company also considers whether it is a member of a related party group that collectively meets the power and benefits criteria and, if so, whether the Company is most closely associated with the VIE. In making that determination, the Company considers both qualitative and quantitative factors, including, but not limited to: the amount and characteristics of its investment relative to other investors; the obligation or likelihood for the Company or other investors to fund operating losses of the VIE; the Company’s and the other investors’ ability to control or significantly influence key decisions for the VIE, and the similarity and significance of the VIE’s business activities to those of the Company and the other investors. The determination of whether an entity is a VIE, and whether the Company is the primary beneficiary, involves significant judgments, including the determination of which activities most significantly affect the entities’ performance, estimates about the current and future fair values and performance of assets held by the VIE and/or general market conditions.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	For purposes of reporting cash flows, the Company considers short-term, highly liquid investments with original maturities of three months or less to be cash equivalents. The Company did not have any cash equivalents at December 31, 2013 and 2012. The Company maintains its cash accounts in a number of commercial banks. At various times during the year, the Company had deposits in excess of federally insured limits.
Investments in Unconsolidated Joint Ventures	'
	Investments in Unconsolidated Joint Ventures
	The Company holds ownership interests in certain joint ventures. The Company evaluates its interest in these entities to determine whether they meet the definition of a VIE and whether the Company should consolidate these entities. In each case, the Company has determined that (1) the entity is not a VIE and the Company does not have a controlling financial interest, or (2) the entity is a VIE but the Company is not the primary beneficiary. Since the Company may not consolidate these entities but has significant influence over operating and financial policies, it accounts for its investments in joint ventures using the equity method. Under the equity method, the Company initially records its investments at cost and adjusts for the Company’s proportionate share of net earnings or losses and other comprehensive income or loss, cash contributions made and distributions received, and other adjustments, as appropriate. Distributions of operating profit from the joint ventures are reported as part of operating cash flows. Distributions related to a capital transaction, such as a refinancing transaction or sale, are reported as investing activities.
	The Company performs a quarterly evaluation of its investments in unconsolidated joint ventures to determine whether the fair value of each investment is less than the carrying value, and, if such decrease in value is deemed to be other-than-temporary, writes down the investment to fair value.
Loans Receivable	'
	Loans Receivable
	The Company originates and purchases loans receivable. Originated loans are recorded at amortized cost, or the outstanding unpaid principal balance (“UPB”) less net deferred loan fees. Net deferred loan fees include unamortized origination and other fees charged to the borrower less direct incremental loan origination costs incurred by the Company. Purchased loans are recorded at amortized cost, or the UPB less unamortized purchase discount. Costs to purchase loans are expensed as incurred. Interest income is recognized based upon the contractual rate and the outstanding principal balance of the loans. Purchase discount or net deferred loan fees are amortized over the expected life of the loans using the effective yield method except on revolving loans, for which the straight-line method is used. When a loan is prepaid, prepayment fees and any excess of proceeds over the carrying amount of the loan are recognized as a gain. Loans that the Company has the intent and ability to hold for the foreseeable future are classified as held-for-investment.
	Loans Held for Sale—Loans held for sale are loans that the Company intends to sell or liquidate in the foreseeable future and are carried at the lower of amortized cost or fair value.
	Past Due Loans—The Company places loans on nonaccrual status when any portion of principal or interest is more than 90 days past due, or earlier when concern exists as to the ultimate collection of principal or interest. When a loan is placed on nonaccrual status, the Company reverses the accrual for unpaid interest and does not recognize interest income until the cash is received and the loan returns to accrual status. Generally, a loan may be returned to accrual status when all delinquent principal and interest are brought current in accordance with the terms of the loan agreement and the borrower has met certain performance criteria.
	Impairment and Allowance for Loan Losses—The Company regularly analyzes the extent and effect of any credit migration from underwriting and the initial investment review associated with a loan’s performance and/or value of underlying collateral as well as the financial and operating capability of the borrower/sponsor. Specifically, a property’s operating results and any cash reserves are analyzed and used to assess (i) whether cash from operations are sufficient to cover the debt service requirements currently and into the future, (ii) the ability of the borrower to refinance the loan, and/or (iii) the property’s liquidation value. Where applicable, the Company also evaluates the financial wherewithal of any loan guarantors as well as the borrower’s competency in managing and operating the properties.  Such analysis is performed at least quarterly, or more often as needed when impairment indicators are present. The Company does not utilize a statistical credit rating system to monitor and assess the credit risk and investment quality of its acquired or originated loans. Given the diversity of the Company's portfolio, management believes there is no consistent method of assigning a numerical rating to a particular loan that captures all of the various credit metrics and their relative importance. Therefore, the Company evaluates impairment and allowance for loan loss on an individual loan basis.
	A loan is considered to be impaired when it is probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan agreement. A loan is also considered to be impaired if it has been restructured in a troubled debt restructuring (“TDR”) involving a modification of terms as a concession resulting from the debtor’s financial difficulties. The Company measures impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the loan valuation is less than the recorded investment in the loan, a valuation allowance is established with a corresponding charge to allowance for loan loss.
	Purchased Credit-Impaired ("PCI") Loans—PCI loans are acquired loans with evidence of credit quality deterioration since origination for which it is probable at acquisition that the Company will collect less than the contractually required payments. PCI loans are recorded at the initial investment in the loans and accreted to the estimated cash flows expected to be collected measured at acquisition date. The excess of cash flows expected to be collected measured at acquisition date over the initial investment (“accretable yield”) is recognized in interest income over the remaining life of the loan using the effective interest method. The excess of contractually required payments at the acquisition date over expected cash flows (“nonaccretable difference”) is not recognized as an adjustment of yield, loss accrual or valuation allowance. The Company evaluates estimated future cash flows on a quarterly basis, starting with the first full quarter after acquisition, or earlier if conditions indicating impairment are present. Subsequent increases in cash flows expected to be collected are recognized prospectively through an adjustment to the loan’s accretable yield over its remaining life, which may result in a reclassification from nonaccretable difference to accretable yield. Subsequent decreases in cash flows expected to be collected are evaluated to determine whether a provision for loan loss should be established. If decreases in expected cash flows result in a decrease in the estimated fair value of the loan below its amortized cost, the Company will record a provision for loan losses calculated as the difference between the loan’s amortized cost and the revised cash flows, discounted at the loan’s effective yield.
	PCI loans may be aggregated into pools based upon common risk characteristics, such as loan performance, collateral type and/or geographic location of the collateral. Once a loan pool is identified, a composite yield and estimate of cash flows expected to be collected (including expected prepayments) are used to recognize interest income. A loan resolution within a loan pool, which may involve the sale of the loan or foreclosure on the underlying collateral, results in the removal of an allocated carrying amount. A loan modified within a loan pool remains in the loan pool, with the effect of the modification incorporated into the expected future cash flows.
Investments in Debt and Equity Securities	'
	Investments in Debt and Equity Securities
	The Company designates debt and equity securities as held-to-maturity, available-for-sale, or trading depending upon its intent at the time of acquisition. The Company’s beneficial interests in debt securities are designated as available-for-sale and are presented at fair value. Unrealized gains or losses are included as a component of other comprehensive income or loss. Premiums or discounts on acquired debt securities are amortized or accreted into income using the effective interest method over the expected lives of the individual securities. The Company performs a quarterly assessment of its debt and equity securities to determine whether a decline in fair value below amortized cost is other than temporary. Other-than-temporary impairment exists when it is probable that the Company will be unable to recover the entire amortized cost basis of the security. If the decline in fair value is deemed to be other than temporary, the security is written down to fair value which becomes the new cost basis and an impairment loss is recognized.
Investment in Real Estate	'
	Investment in Real Estate
	Real Estate Acquisitions—Real estate acquisitions are recorded at the fair values of the acquired components at the time of acquisition, allocated among land, building, improvements, equipment, lease-related tangible and identifiable intangible assets, such as tenant improvements, deferred leasing costs, in-place lease values, above- and below-market lease values. The Company evaluates each purchase transaction to determine whether the acquired assets meet the definition of a business. Transaction costs related to acquisitions that are not deemed to be businesses are included in the cost basis of the acquired assets, while transaction costs related to acquisitions that are deemed to be businesses are expensed as incurred. Net cash paid to acquire an operating property is classified as investing activities on the accompanying statements of cash flows.
	The fair value of acquired land is derived from recent comparable sales of land and listings within the same local region based on available market data. The fair value of acquired buildings and building improvements is derived from comparable sales, discounted cash flow analysis using market-based assumptions, or replacement cost, as appropriate. The fair value of site and tenant improvements is estimated based upon current market replacement costs and other relevant market rate information.
	In-place leases generate value over and above the tangible real estate because a property that is occupied with leased space is typically worth more than a vacant building without an operating lease contract in place. The fair value of acquired in-place leases is derived based on management's assessment of lost rental income and tenant reimbursements that would be incurred to lease a hypothetically vacant building to its actual existing occupancy level on the valuation date. The net amount recorded for acquired in-place leases is included in other assets on the accompanying balance sheets and amortized on a straight-line basis as an increase to depreciation and amortization expense over the remaining term of the applicable leases.
	The fair value of the above- or below-market component of an acquired in-place operating lease represents the present value of the difference between contractual rents of acquired leases and market rents at the time of the acquisition, discounted for tenant credit risks. Above- or below-market lease values are amortized on a straight-line basis as a decrease or increase to rental income, respectively, over the applicable lease terms. The Company did not have any above- or below-market lease values at December 31, 2013 or 2012.
	Deferred leasing costs represent management's estimation of the avoided leasing commissions and legal fees associated with an existing in-place lease. The net amount is included in other assets on the accompanying balance sheets and amortized on a straight-line basis as an increase to depreciation and amortization expense over the remaining term of the applicable lease.
	Fair values of these components generally rely on Level 2 or Level 3 inputs of the fair value hierarchy (see —Fair Value Measurement).
	Depreciation—Depreciation is computed on the straight-line basis over the estimated useful lives of the assets, which generally range from 10 to 40 years for buildings and improvements and 5 to 15 years for furniture, fixtures and equipment. Tenant improvements are amortized over the shorter of the remaining lease term or the estimated useful life.
	Expenditures for ordinary repairs and maintenance are expensed as incurred, while expenditures for significant renovations that improve or extend the useful life of the asset are capitalized and depreciated over their estimated useful lives.
	Real Estate Acquired in Settlement of Loans—Real estate acquired in full or partial settlement of loans ("real estate owned," or "REO") is measured at fair value less estimated costs to sell at the acquisition date if the property meets the GAAP definition of a held for sale property. REO property that is classified as held for sale is not depreciated during the holding period. If the Company intends to operate the property, the fair value is allocated among the acquired assets (see —Real Estate Acquisitions). The difference between the carrying value of the loan and the fair value of the foreclosed asset is recognized in the statement of operations, after reversing any previously recognized provision on the loan. The fair value of REO is generally based on a third party appraisal or on a combination of appraised value, broker price opinions and comparable sales.
	Real Estate Impairment—The Company evaluates its investments in real estate for impairment periodically or whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The Company evaluates cash flows and determines impairments on an individual property basis. In making this determination, the Company reviews, among other things, current and estimated future cash flows associated with each property, market information for each sub-market, including, where applicable, competition levels, foreclosure levels, leasing trends, occupancy trends, lease or room rates, and the market prices of similar properties recently sold or currently being offered for sale, and other quantitative and qualitative factors. If an impairment indicator exists, the Company compares the expected future undiscounted cash flows to the carrying amount of the asset to evaluate whether the carrying value is recoverable. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the asset, the Company would record an impairment loss for the difference between the estimated fair value and the carrying amount of the asset.
Other Assets	'
	Other Assets
	Other assets include the fair value of derivative instruments, deferred financing costs, acquired intangible assets, restricted cash, deferred tax assets, interest receivable and prepaid expenses.
	Deferred Financing Costs—Costs incurred in connection with the Company's financing arrangements are recorded as deferred financing costs and included in other assets on the accompanying balance sheets. Deferred financing costs associated with the credit facility are amortized using the straight-line method over the expected term of the credit facility. Deferred financing costs associated with convertible senior notes, secured financing and mortgage loans are amortized using the effective interest method over the respective term of the financing.
	Restricted Cash—Restricted cash primarily includes escrow deposits from borrowers for various purposes, including property taxes, insurance, replacement reserves and interest reserves, with a corresponding liability included in accrued and other liabilities.
	Acquired Intangible Assets—Intangible assets consist of acquired in-place leases and deferred leasing costs associated with acquiring an operating property with existing leases. In-place leases and deferred leasing costs are recorded at their respective fair value as of the acquisition date, net of straight-line amortization over the applicable lease terms.
Transfers of Financial Assets	'
	Transfers of Financial Assets
	Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over a transferred financial asset is deemed to be surrendered when (1) the asset has been legally isolated; (2) the transferee has the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred asset; and (3) the Company does not maintain effective control over the transferred asset through either (a) an agreement that entitles and obligates the Company to repurchase or redeem it before its maturity or (b) an agreement that provides the Company with both the unilateral ability to cause the holder to return specific assets and a more than trivial benefit attributable to that ability. The difference between the net proceeds received and the carrying amount of the financial assets being sold is recognized as a gain or loss on sale. Transfers of financial assets that do not meet these requirements are accounted for as financing transactions.
Debt	'
	Debt
	The Company's debt balance includes a mortgage loan, loan-on-loan secured financing arrangements and transfers of financial assets that are accounted for as financing transactions as they did not meet the criteria for treatment as sales.
Rental Income and Tenant Reimbursements	'
	Rental Income and Tenant Reimbursements
	Rental income is recognized on a straight-line basis over the term of the related lease. Residential leases generally have one-year terms while commercial leases generally have longer terms.  Rents received in advance are deferred.
	In net lease arrangements, costs reimbursable from tenants for real estate taxes, property insurance and other recoverable costs are recognized as revenue in the period the recoverable costs are incurred. When the Company is the primary obligor with respect to purchasing goods and services for property operations and has discretion in selecting the supplier and retains credit risk, tenant reimbursement revenue and property operating expenses are presented on a gross basis in the Company's statement of operations. For certain triple net leases where the lessee self-manages the property, hires its own service providers and retains credit risk for routine maintenance contracts, no reimbursement revenue and expense are recognized.
Foreign Currency Translation	'
	Foreign Currency Translation
	The Company translates the assets and liabilities of its non-U.S. dollar functional currency investments and subsidiaries into U.S. dollars using exchange rates in effect at the balance sheet date. Income and expenses from these investments and subsidiaries are translated at the average rate of exchange prevailing during the period such income was earned or expenses were incurred. Translation adjustments resulting from changes in exchange rates are recorded as other comprehensive income or loss. Foreign currency transaction gains and losses are recognized when the Company receives distributions from non-U.S. dollar currency investments and subsidiaries, and are included in other gain or loss in the accompanying statements of operations.
Other Income from Affiliates	'
	Other Income from Affiliates
	Other income primarily includes asset management fees earned by two wholly-owned subsidiaries of the Company that provide asset management services for two of the Company's unconsolidated joint ventures that invested in loan portfolios. Asset management fees are recognized as earned.
Derivative Instruments and Hedging Activities	'
	Derivative Instruments and Hedging Activities
	The Company uses derivative instruments to manage its foreign currency risk and interest rate risk.
	Foreign Currency Risk—The Company has entered into currency collars (consisting of caps and floors) and forwards to hedge the foreign currency exposure of its net investments in foreign entities. The Company has entered into various foreign exchange contracts with notional amounts and termination dates based upon the anticipated return of capital from the investments.
	Interest Rate Risk—The Company uses interest rate swaps and caps to hedge against the risk of interest rate fluctuations on its future cash flows from investments. These derivative instruments are designed to mitigate the interest rate risk for certain floating rate debt investments and liabilities.
	All derivative instruments are recorded at their fair values and included in other assets or other liabilities on the accompanying balance sheets on a gross basis. To the extent they are effective, fair value adjustments on derivative instruments designated as hedging instruments are reported as other comprehensive income and included in stockholders' equity until the hedged item is realized. Ineffective portions and settlement gains and losses, if any, are included in earnings. Fair value adjustments on derivative instruments that are not designated as hedging instruments are reported in other gain or loss on the accompanying statements of operations. The Company does not enter into derivative transactions for speculative or trading purposes.
Fair Value Measurement	'
	Fair Value Measurement
	The Company determines the estimated fair value of financial assets and liabilities using the three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The three levels of inputs that may be used to measure fair value are as follows:
	Level 1—Quoted prices in active markets for identical assets or liabilities.
	Level 2—Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
	Level 3—Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used.
	The Company records certain financial instruments at fair value on a recurring basis when required by GAAP. The Company has not elected the fair value option for any other financial instruments. Such financial instruments are carried at cost while fair value is separately disclosed (see Note 11).
Share-Based Payments	'
	Share-Based Payments
	The Company recognizes the cost of share-based awards based upon their fair values on a straight-line basis over the requisite service period, which is generally the vesting period of the awards. For awards to the Company’s employees, including its independent directors, the fair value is determined as the grant date stock price. For share-based awards to non-employees, including the Manager and employees of the Manager, the fair value is based upon the vesting date stock price, which requires the amount of related expense to be remeasured at the end of each reporting period until the award has vested.
	For awards with periodic vesting, the Company recognizes the related expense on a straight-line basis over the requisite service period for the entire award, subject to periodic adjustments to ensure that the cumulative amount of expense recognized through the end of any reporting period is at least equal to the fair value of the portion of the award that has vested through that date. Share-based payments are reflected in the same expense category as would be appropriate if the payments had been made in cash.
Net Earnings Per Share	'
	Net Earnings Per Share
	The Company calculates basic earnings per share using the two-class method which defines unvested share-based payment awards that contain nonforfeitable rights to dividends as participating securities. The two-class method is an allocation formula that determines earnings per share for each share of common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings (distributed and undistributed) are allocated to common shares and participating securities based on their respective rights to receive dividends. Earnings per common share is calculated by dividing earnings allocated to common shareholders by the weighted-average number of common shares outstanding during the period.
	Diluted earnings per common share is computed by dividing income allocated to common stockholders by the weighted average common shares outstanding plus the dilutive effect, if any, of share-based payments and the assumed conversion of convertible notes to common shares.
Income Taxes	'
	Income Taxes
	The Company elected to be taxed as a REIT, commencing with the Company’s initial taxable year ended December 31, 2009. A REIT is generally not subject to corporate level federal and state income tax on net income it distributes to its stockholders. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of its REIT taxable income to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal and state income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Even if the Company qualifies for taxation as a REIT, it and its subsidiaries may be subject to certain federal, state, local and foreign taxes on its income and property and to federal income and excise taxes on its undistributed taxable income.
	The Company has elected or may elect to treat certain of its existing or newly created corporate subsidiaries as taxable REIT subsidiaries (each a “TRS”). In general, a TRS of a REIT may perform non-customary services for tenants of the REIT, hold assets that the REIT cannot hold directly and, subject to certain exceptions related to hotels and healthcare properties, may engage in any real estate or non-real estate related business. A TRS is treated as a regular corporation and is subject to federal, state, local and foreign taxes on its income and property.
	Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The deferred tax assets and liabilities of the TRSs relate primarily to temporary differences in the book and tax income of TRSs and operating loss carryforwards for federal and state income tax purposes, as well as the tax effect of accumulated other comprehensive income of TRSs. A valuation allowance for deferred tax assets is provided if the Company believes it is more likely than not that all or some portion of the deferred tax assets will not be realized. Realization of deferred tax assets is dependent on the Company generating sufficient taxable income in future periods.
	The Company periodically evaluates its tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by a tax authority for all open tax years, as defined by the statute of limitations, based on their technical merits. As of December 31, 2013 and 2012, the Company has not established a liability for uncertain tax positions.
Segment Reporting	'
	Segment Reporting
	The Company currently operates in three reportable segments: (1) real estate debt investments, which include originated and acquired commercial real estate debt, mortgage-backed securities, and other debt-related investments, (2) single-family residential rentals through its investment in CAH OP, and (3) other real estate equity investments, which include real estate acquired in settlement of loans or from acquisition of operating properties, common equity in real estate or related companies, and certain preferred equity investments with profit participation meeting certain risk or return profiles.
	Prior to the third quarter of 2013, the Company had two reportable segments, real estate debt investments and single-family residential rentals. During the third quarter of 2013, the Company reevaluated its operating and reportable segments in light of the increasing significance of its real estate equity investments. As a result of this evaluation, the Company created a third reportable segment which represents its investments in other real estate equity, which was previously included in the real estate debt investments segment. Prior to 2012, there was only one reportable segment, real estate debt investments.
Reclassification	'
	Reclassification
	Certain amounts in the statement of cash flows for the year ended December 31, 2012 have been reclassified for consistency with the current year presentation. The reclassification did not have a material effect on the Company's financial position or results of operations.
Recent Accounting Updates	'
	Recent Accounting Updates
	Comprehensive Income—In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. Under ASU No. 2013-02, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income ("AOCI") by component. In addition, an entity is required to present, either on the face of the income statement or in the notes, significant amounts reclassified from AOCI by the respective line items of the income statement. ASU No. 2013-02 did not change the current requirements for reporting net income or other comprehensive income in the financial statements. The adoption of the new presentation requirements of ASU No. 2013-02 in the first quarter of 2013 did not have a significant effect on the Company's consolidated financial position, results of operations or cash flows.

Investments_in_Unconsolidated_1

Investments in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]	'
Investments in Unconsolidated Joint Ventures	'
	The Company’s investments in unconsolidated joint ventures are summarized below:
	(Amounts in thousands)				Ownership Percentage at December 31, 2013 (1)			Carrying Value
	Joint Ventures		Investment Status at December 31, 2013					December 31, 2013			December 31, 2012
	CAH Operating Partnership, L.P.		Investment in CAH OP, an investment vehicle created for the purpose of acquiring and renting single-family homes		24.3	%		$	530,007		$	251,501
	Portfolio 8 Investors, LLC (2)		Preferred equity investment in an entity that acquired a multifamily portfolio composed of approximately 7,600 units located in Georgia, Florida and Texas		75	%		148,683			—
	ColFin Court Square Funding, LLC		Preferred equity investment in an entity that acquired a Class A office tower located in Long Island City, New York		50	%		49,103			46,188
	ColFin Hunt Holdco A, LLC and ColFin Hunt Holdco B, LLC		1 non-performing commercial real estate loan and 2 REO properties		37.9	%		36,133			26,963
	ColFin 2011 CRE Holdco, LLC and Colony AMC 2011 CRE, LLC		410 performing and non-performing loans acquired in a structured transaction with the FDIC, secured mostly by commercial real estate, and 22 REO properties		44.4	%		34,298			38,220
	(Amounts in thousands)				Ownership Percentage at December 31, 2013 (1)			Carrying Value
	Joint Ventures		Investment Status at December 31, 2013					December 31, 2013			December 31, 2012
	ColFin NW Funding, LLC		15 performing acquired first mortgages secured by commercial real estate		37.9	%		33,682			32,676
	ColFin JIH Holdco, LLC, ColFin JIH Mezzco A, LLC and ColFin JIH Opco, LLC		Equity interests in and senior mezzanine loan receivable from entities owning a portfolio of 102 limited service hotels		33.3	%		31,559			32,320
	ColFin Bulls Funding A, LLC and ColFin Bulls Funding B, LLC		354 performing and non-performing acquired loans consisting of substantially all first mortgage recourse commercial real estate loans and 14 REO properties		32.5	%		30,309			39,662
	ColFin DB Guarantor, LLC and Colony AMC DB, LLC		452 performing and non-performing loans acquired in a structured transaction with the FDIC, secured mostly by commercial real estate and 117 REO properties		33.3	%		26,293			39,317
	ColFin Ash Funding, LLC		2 most junior mortgage participation interests secured by 5 full-service hotels		50	%		24,765			24,365
	ColFin STC Funding, LLC		Acquired performing senior mortgage loan secured by a retail property in Florida		50	%		23,299			—
	W&D Interim Lender, LLC (3)		First mortgage loan secured by a student housing community in New York		90	%		22,309			—
	ColFin Mizner Funding, LLC		First mortgage loan origination secured by a multifamily development parcel located in Florida		50	%		21,130			—
	ColFin Cabo Palm Funding, LLC		Participation in junior first mortgage interest secured by a luxury beach resort in Mexico		50	%		20,072			—
	ColFin 666 Funding, LLC		First mortgage pari-passu participation interest secured by Class A midtown Manhattan office building		33.3	%		19,096			17,595
	ColFin PHX Tower Funding, LLC		Equity interest in a high-rise office tower located in Phoenix, Arizona		50	%		18,408			16,454
	ColFin London Funding, LLC		8 performing and non-performing acquired loans secured by commercial real estate		50	%		18,138			37,427
	ColFin 2012 CRE ADC Holdco, LLC and Colony AMC 2012 CRE ADC, LLC		383 performing and non-performing loans acquired in a structured transaction with the FDIC, mostly secured by commercial real estate and 5 REO properties		50	%		16,795			15,370
	ColFin Grand Cul Funding, LLC		First mortgage loans secured by a partially constructed hotel and residential development project located in the Caribbean		33.3	%		16,595			—
	ColFin Inland Funding, LLC and ColFin Inland Investor, LLC		First mortgage loan secured by a Southern California master planned development and equity participation rights		50	%		16,068			15,086
	ColFin FCDC Funding, LLC		Equity interests acquired through deed-in-lieu in 2 partially developed master planned communities located in California		50	%		15,894			15,422
	ColFin ARP Funding, LLC		First mortgage loan to finance the acquisition and redevelopment of high-end, single family residential properties in infill, coastal southern California markets		50	%		15,350			—
	Other unconsolidated joint ventures		26 investments with less than $15 million carrying value at December 31, 2013		4.5% to			201,543			228,515
					50.00%
								$	1,369,529		$	877,081
	-1	The Company's ownership percentage represents capital contributed to date and may not be reflective of the Company's economic interest in the entity because of provisions in operating agreements governing various matters, such as classes of partner or member interests, allocations of profits and losses, preferential returns and guaranty of debt. Each unconsolidated joint venture has been determined to be either a VIE for which the Company was not deemed to be the primary beneficiary or a voting interest entity in which the Company does not have a controlling financial interest.
	-2	While the Company has a majority ownership interest in Portfolio 8 Investors, LLC, the minority member has control over the day-to-day operations of the entity. Accordingly, the Company accounts for its investment using the equity method.
	-3	The Company has determined that W&D Interim Lender, LLC is a VIE for which the Company is not the primary beneficiary because the power to direct the activities that most significantly impact the VIE is shared equally between its members but the other member has the obligation to absorb losses of the VIE that potentially could be significant to the VIE. Accordingly, the Company accounts for its investment using the equity method.
Activity in the Company's Investments in Unconsolidated Joint Ventures	'
	Activity in the Company’s investments in unconsolidated joint ventures is summarized below:
	(In thousands)		2013				2012
	Balance at January 1		$	877,081			$	443,500
	Contributions		672,338				528,347
	Assignment of loans receivable and related liabilities		—				29,427
	Distributions		(279,161		)		(201,335		)
	Equity in net income		100,708				68,737
	Equity in other comprehensive income		9,827				7,144
	Equity in realized gain reclassified from accumulated other comprehensive income		(12,935		)		—
	Foreign currency translation gain		1,671				1,261
	Balance at December 31		$	1,369,529			$	877,081
Combined Condensed Balance Sheets of Unconsolidated Joint Ventures	'
	Combined Condensed Balance Sheets of Unconsolidated Joint Ventures
			December 31,
	(In thousands)		2013				2012
	Assets:
	Cash and cash equivalents		$	321,183			$	156,704
	Loans receivable, net		2,171,943				2,383,748
	Investments in real estate		3,658,940				990,105
	Investments in unconsolidated joint ventures		459,010				436,188
	Debt and equity securities, available-for-sale, at fair value		24,753				247,963
	Other assets		345,196				825,804
	Total assets		$	6,981,025			$	5,040,512
	Liabilities:
	Debt		$	1,515,188			$	1,018,865
	Other liabilities		140,509				65,193
	Total liabilities		1,655,697				1,084,058
	Owners’ equity		4,465,363				2,997,533
	Noncontrolling interests		859,965				958,921
	Total liabilities and equity		$	6,981,025			$	5,040,512
	Company’s share of equity		$	1,369,529			$	877,081
Combined Condensed Statements of Operations of Unconsolidated Joint Ventures	'
	Combined Condensed Statements of Operations of Unconsolidated Joint Ventures
			Year Ended December 31,
	(In thousands)		2013				2012			2011
	Income:
	Interest income		$	362,163			$	372,958		$	320,409
	Property operating income		206,848				96,897			5,998
	Equity in income of unconsolidated joint ventures		26,410				53,110			75,953
	Other income		25,221				29,325			14,962
	Total income		620,642				552,290			417,322
	Expenses:
	Interest expense		31,012				37,185			26,950
	Property operating expenses		152,154				73,770			9,695
	Depreciation and amortization		59,902				12,850			953
	Other expenses		90,547				88,662			61,682
	Total expenses		333,615				212,467			99,280
	Other income:
	Realized and unrealized gain on investments, net		194,372				145,258			71,651
	Net income		481,399				485,081			389,693
	Net income attributable to noncontrolling interests		102,431				84,806			81,439
	Net income attributable to members		$	378,968			$	400,275		$	308,254
	Company’s equity in net income		$	100,708			$	68,737		$	46,720

Loans_Receivable_Tables

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2013
Receivables [Abstract]	'
Company Loans Receivable	'
	The following table summarizes the Company’s loans held for investment by class of receivable:
			31-Dec-13														31-Dec-12
	(Amounts in thousands)		Principal				Carrying				Weighted			Weighted	Number of Loans		Principal		Carrying		Weighted		Weighted	Number of Loans
							Amount				Average			Average					Amount		Average		Average
											Coupon			Maturity in Years							Coupon		Maturity in Years
	Non-PCI Loans:
	Mortgage loans		$	463,552			$	423,078			7.1	%		3.9	33		$	233,003	$	203,098	8.9	%	2.1	3
	B-note		104,068				103,458				10.9	%		3.8	2		14,558		14,471		20.9	%	3.3	1
	Mezzanine loans		330,909				328,185				11	%		2.4	2		116,000		116,000		10.1	%	5.2	3
			898,529				854,721								37		363,561		333,569					7
	Purchased Credit-Impaired Loans:
	Mortgage loans		299,235				173,933								5		—		—					—
			$	1,197,764			$	1,028,654							42		$	363,561	$	333,569				7
Table Summarizing the Companys' non-PCI Loans by Collateral Type	'
	The following table summarizes the Company's investments in non-PCI loans with variable interest rates:
	(Amounts in thousands)		Index		Weighted Average Spread		Weighted Average Rate		Principal				Carrying Amount			Number of Loans
	31-Dec-13
	Mortgage loans		1-Month LIBOR	(1)	4.85%		7.71%	(3)	$	246,478			$	220,111		9
	Mortgage loan		1-Month Reference Bills	(2)	4.65%		4.66%		30,064				27,595			3
	Mezzanine loans		1-Month LIBOR		10.80%		10.97%		330,909				328,185			2
									$	607,451			$	575,891		14
	December 31, 2012
	Mortgage loan		1-Month LIBOR		4.00%		8.57%		$	171,961			$	142,575		1
	-1	LIBOR =ondon Interbank Offered Rate
	-2	Reference Bills =reddie Mac Reference Bill index
	-3	Certain loans are subject to a LIBOR floor which is higher than the actual LIBOR at December 31, 2013
Activity in Loans Receivable	'
	Activity in loans held for investment is summarized below:
	(In thousands)		2013				2012				2011
	Balance at January 1		$	333,569			$	232,619			$	69,929
	Loan acquisitions and originations		876,503				204,298				160,980
	Paid-in-kind interest added to loan principal		218				851				608
	Discount and net loan fee amortization		10,053				3,656				1,332
	Carrying value of loans sold		(70,280		)		(30,159		)		—
	Assignment of loans receivable to investment in unconsolidated joint ventures		—				(29,612		)		—
	Noncash distribution of loan receivable to a noncontrolling interest		(18,500		)		—				—
	Principal repayments		(106,083		)		(48,084		)		(230		)
	Payments received from PCI loans		(544		)		—				—
	Effect of foreign exchange rates		3,718				—				—
	Balance at December 31		$	1,028,654			$	333,569			$	232,619
Schedule of Future Minimum Principal Payments Excluding PCI Loans	'
	Minimum scheduled principal payments required under the loan agreements, excluding PCI loans, as of December 31, 2013 are as follows:
	Year Ending December 31,		(In thousands)
	2014		$	150,835		(1)
	2015		68,582
	2016		452,380
	2017		111,941
	2018		7,360
	2019 and after		95,931
	Total		$	887,029
	(1) Net of $11.5 million credit available to borrower upon full payoff.
Accretable Yield and Nonaccretable Difference at Acquisition for PCI Loans	'
	The following table summarizes the accretable yield and nonaccretable difference at acquisition for PCI loans acquired during the year ended December 31, 2013:
	(In thousands)
	Contractually required payments including interest	$	315,939
	Less: cash flows not expected to be collected (nonaccretable difference)	17,253
	Total cash flows expected to be collected	298,686
	Less: accretable yield	131,037
	Fair value of loans at acquisition	$	167,649
Changes in Accretable Yield for he PCI loans	'
	Changes in the accretable yield for the PCI loans were as follows:
	(In thousands)		2013
	Accretable yield at January 1		$	—
	Additions		131,037
	Accretion		(3,108		)
	Effect of foreign exchange rates		2,894
	Accretable yield at December 31		$	130,823

Acquisition_of_Real_Estate_Tab

Acquisition of Real Estate (Tables)	12 Months Ended
	Dec. 31, 2013
Business Combinations [Abstract]	'
Schedule of Estimated Fair Values of Assets Acquired	'
	The following table summarizes the estimated fair values of the assets at the acquisition date:
	(Amounts in thousands)		Purchase Consideration				Estimated Useful Life (in years)
	Real estate assets:
	Land		$	8,319			n/a
	Buildings and improvements		97,011			(1)	Oct-40
	Tenant improvements		7,356				6.8	(3)
	Identifiable intangible assets:
	In-place lease value		7,845			(2)	6.8	(3)
	Deferred leasing costs		2,219			(2)	6.8	(3)
	Total assets acquired		$	122,750
	-1	Buildings and improvements consist of two office buildings, two parking garages and non-building site improvements including paving, site lights, landscaping and others. Since the in-place lease represents a separate fair value component from the tangible real estate in an income-producing property subject to lease, the buildings were valued as if they were vacant and available to lease at market terms on the purchase date.
	-2	The net amount recorded for acquired identifiable intangible assets was included in other assets on the accompanying balance sheet as of December 31, 2013.
	-3	The lease-related tangible and intangible assets are amortized on a straight-line basis as an increase to depreciation and amortization expense over the remaining term of the applicable leases.
Results of Operations of the Acquired Properties	'
	The following table summarizes the results of operations of the acquired properties for the period from December 9, 2013, the date of acquisition, to December 31, 2013:
			(In thousands)
	Rental income and tenant reimbursements		$	789
	Net loss		(542		)
Schedule of Components of Real Estate Acquired and Held for Investment	'
	The following table summarizes information regarding the components of real estate assets held for investment as of December 31, 2013:
			(In thousands)
	Land		$	8,319
	Buildings and improvements		97,011
	Tenant improvements		7,356
			112,686			(1)
	Accumulated depreciation		(218		)
	Net carrying amount		$	112,468
	-1	The aggregate gross cost of property for federal income tax purposes was approximately $121.1 million as of December 31, 2013.
Acquisition-related Intangible Assets	'
	The following table summarizes acquisition-related intangible assets as of December 31, 2013:
	(In thousands)		Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
	In-place lease		7,845			(72	)		7,773
	Deferred leasing costs		2,219			(20	)		2,199
			10,064			(92	)		9,972
Expected Amortization Expense for Acquisition-related Intangible Assets	'
	Expected amortization expense for acquisition-related intangible assets for each of the next five years and thereafter is as follows as of December 31, 2013:
	(In thousands)
	Year Ending December 31,		In-Place Leases				Deferred Leasing Costs
	2014		$	1,152			$	326
	2015		1,152				326
	2016		1,152				326
	2017		1,152				326
	2018		1,152				326
	2019 and after		2,013				569
	Total		$	7,773			$	2,199
Future Contractual Minimum Rental Payments Under Noncancelable Operating Leases	'
	Future contractual minimum rental payments under noncancelable operating leases as of December 31, 2013 are as follows:
	Year Ending December 31,		(In thousands)
	2014		$	9,195
	2015		9,195
	2016		9,365
	2017		9,654
	2018		9,820
	2019 and after		17,380
	Total		$	64,609
Pro Forma Results of Business Combinations	'
	The following table presents pro forma results of the Company as if the acquisition had been consummated on January 1, 2012. The pro forma results for the year ended December 31, 2013 were adjusted to exclude acquisition-related expenses of approximately $597,000 and the pro forma results for the year ended December 31, 2012 were adjusted to include these expenses. The unaudited pro forma results are not necessarily indicative of future operating results.
			Year Ended December 31,
	(Amounts in thousands, except per share data)		2013				2012
	Total income		$	192,095			$	119,800
	Net income attributable to common stockholders		$	80,952			$	47,563
	Net income attributable to common stockholders per share–basic		$	1.21			$	1.31
	Net income attributable to common stockholders per share–diluted		$	1.21			$	1.31

Beneficial_Interests_in_Debt_S1

Beneficial Interests in Debt Securities (Tables)	12 Months Ended
	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]	'
Summary of Beneficial Interest in Debt Securities	'
	The Company’s beneficial interests in debt securities are summarized below:
		December 31,
	(In thousands)	2013		2012
	Principal	$	28,000	$	28,000
	Unamortized premium	2,507		3,174
	Amortized cost	30,507		31,174
	Unrealized gain included in accumulated other comprehensive income	327		881
	Fair value	$	30,834	$	32,055

Other_Assets_Tables

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2013
Other Assets [Abstract]	'
Schedule of the Company's Other Assets, Net	'
	The following table summarizes the Company's other assets, net:
			December 31,
	(In thousands)		2013			2012
	Restricted cash		$	7,898	(1)	$	13,866	(1)
	Deferred financing costs, net		11,275		(2)	2,281		(2)
	In-place lease value, net		7,773		(3)	—
	Deferred leasing costs, net		2,199		(4)	—
	Receivables		8,277			3,414
	Derivative assets, net of tax effect		3,108			760
	Deferred tax assets, net of allowances		2,391		(5)	1,176
	Other		979			1,166
	Total other assets		$	43,900		$	22,663
	-1	Restricted cash includes borrower escrow accounts and an interest reserve account to service secured financing.
	-2	Deferred financing costs are shown net of accumulated amortization of $6.5 million and $3.5 million as of December 31, 2013 and 2012, respectively.
	-3	In-place lease value is shown net of accumulated amortization of $72,000 as of December 31, 2013.
	-4	Deferred leasing costs are shown net of accumulated amortization of $20,000 as of December 31, 2013.
	-5	Deferred tax assets are shown net of allowances of $356,000 and $300,000 as of December 31, 2013 and 2012.

Debt_Tables

Debt (Tables)	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Schedule of Secured Debt	'
	The following table summarizes certain information about the Company's secured debt:
							Outstanding Balance
	(Amounts in thousands)						December 31,
	Type		Collateral		Interest Rate	Maturity Date	2013		2012
	Secured financing (1)		Portfolio of 25 first mortgage loans and 2 subordinated loans		1-month LIBOR+2.85%	Dec-17	$	115,000	$	—
	Secured financing (2)		Participation interest in first mortgage loan		5% fixed	Jul-14	74,607		94,499
	Secured financing (3)		N/A		4.85% fixed	Jan-16	—		13,668
	First mortgage loan (4)		Office property in Minnesota		4.84% fixed	Jan-24	88,000		—
	Total						$	277,607	$	108,167
	-1	The financing is secured by a loan portfolio acquired in October 2013. The financing requires monthly interest payments and principal curtailment based upon the ratio of principal outstanding to collateral cost basis. The initial principal curtailment requirement is 70% of all excess cash flow from the underlying loan portfolio, after payment of certain loan servicing fees and monthly interest, but may increase or decrease in the future.
	-2	In connection with the acquisition of a $181 million participation interest in a first mortgage loan in May 2012, the seller provided concurrent non-recourse financing for $103.5 million, or 65% of the purchase price. Concurrently with the loan acquisition, the borrower funded, on behalf of the Company, an interest reserve account in an amount sufficient to service the interest for the term of the secured financing. The interest reserve account is controlled by the secured financing lender and is included in other assets in the accompanying balance sheets. The financing has an initial maturity of July 2014 and can be extended to January 2017, subject to an extension fee. Upon exercise of the extension option, the borrower of the first mortgage loan will again be required to fund the interest reserve account on behalf of the Company to service the interest for the extended term of the secured financing.
	-3	On December 23, 2010, the Company assigned a $20.75 million first mortgage it originated to a third party in exchange for $14 million in proceeds, and retained a $6.75 million subordinated B-note participation. The Company accounted for the assignment as a financing transaction, as the Company retained effective control over the original first mortgage loan and, accordingly, it did not meet the criteria of a loan sale. In April 2013, as a result of a default by the borrower, the Company exercised its option to repurchase the A-note at par from the third party.
	-4	The loan requires monthly interest payments until January 2016, then principal and interest payments based on a 30-year amortization period. The loan agreement requires rent receipts from the collateral property to be initially deposited into a lockbox account controlled by the lender. The excess of monthly rent receipts over monthly debt service is remitted to the Company.
Schedule Principal Payments Due Under the Secured Financing Arrangements	'
	The financing agreements require minimum scheduled principal payments or payments that depend upon the net cash flows from the collateral assets and the ratio of principal outstanding to collateral. The following table summarizes such minimum principal payments and estimated principal payments based upon reasonable expectations of cash flows from the underlying collateral assets as of December 31, 2013:
	Year Ending December 31,		(In thousands)
	2014		$	94,920
	2015		83,677
	2016		4,684
	2017		8,825
	2018		1,403
	2019 and after		84,098
	Total		$	277,607

Derivatives_and_Hedging_Tables

Derivatives and Hedging (Tables)	12 Months Ended
	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Fair Value of Derivative Instruments	'
	The fair values of derivative instruments included in the Company’s consolidated balance sheets are as follows:
		December 31,
	(In thousands)	2013		2012
	Assets
	Foreign exchange contracts designated as hedging instruments	$	2,126	$	760
	Interest rate cap designated as a hedging instrument	11		—
	Interest rate swaps not designated as hedging instruments	971		—
	Total derivatives included in other assets	$	3,108	$	760
	Liabilities
	Foreign exchange contracts designated as hedging instruments	$	5,504	$	293
	Embedded derivative liability not designated as a hedging instrument	2,952		3,898
	Total derivatives included in accrued and other liabilities	$	8,456	$	4,191

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value of Assets and Liabilities by the Level in the Fair Value Hierarchy	'
	The following table summarizes the fair values of those assets and liabilities:
		December 31,
	(In thousands)	2013		2012
	Assets
	Beneficial interests in debt securities	$	30,834	$	32,055
	Foreign currency derivative contracts	2,126		760
	Interest rate derivative contracts	982		—
		$	33,942	$	32,815
	Liabilities
	Foreign currency derivative contracts	$	5,504	$	293
	Embedded derivative liability associated with beneficial interests in debt securities	2,952		3,898
		$	8,456	$	4,191
Fair and Carrying Values of Assets and Liabilities by the Level in the Fair Value Hierarchy by Balance Sheet Grouping	'
	The following tables present the estimated fair values and carrying values of the Company’s financial instruments carried at cost, aggregated by the level in the fair value hierarchy:
		Fair Value Measurements Using
	(In thousands)	Quoted Prices in		Significant		Significant		Total Fair		Carrying
		Active Markets		Other		Unobservable		Value		Value
		for Identical		Observable		Inputs
		Instruments		Inputs		(Level 3)
		(Level 1)		(Level 2)
	31-Dec-13
	Assets
	Investments in unconsolidated joint ventures	$	—	$	5,953	$	1,524,621	$	1,530,574	$	1,369,529
	Loans held for investment	—		—		1,034,600		1,034,600		1,028,654
	Liabilities
	Line of credit	$	—	$	138,500	$	—	$	138,500	$	138,500
	Secured financing	—		—		277,600		277,600		277,607
	Convertible senior notes	208,000		—		—		208,000		200,000
	31-Dec-12
	Assets
	Investments in unconsolidated joint ventures	$	—	$	20,667	$	910,450	$	931,117	$	877,081
	Loans held for investment	—		—		335,734		335,734		333,569
	Liabilities
	Line of credit	$	—	$	—	$	—	$	—	$	—
	Secured financing	—		—		108,090		108,090		108,167

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Summary of Common Stock Offering	'
	The following table summarizes the sales of the Company's common stock for the years ended December 31, 2013, 2012 and 2011:
			Number of Shares			Average Price per Share				Net Proceeds
										(in thousands) (1)
	Apr-11		15,350,000			$	18.5			$	271,707
	Sep-12		8,050,000			18.53				148,969
	Dec-12		11,500,000			19.29				221,348
	Jan-13		11,500,000			20.2				232,020
	Nov-13		10,000,000			20.21				201,758
	At-the-market sales in 2013		1,901,755			21.65				40,765
	-1	Net of underwriting discounts and commissions and offering costs payable by the Company
Components of Accumulated Other Comprehensive Income (Loss) Attributable to Stockholders	'
	Accumulated Other Comprehensive Income
	The following tables present the changes in each component of accumulated other comprehensive income attributable to the stockholders, net of immaterial tax effect:
	(In thousands)		Equity in AOCI of Unconsolidated Joint Ventures				Unrealized Gain on Beneficial Interests in Debt Securities				Unrealized Gain on Fair Value of Cash Flow Hedge			Foreign Currency Translation Gain/Loss			Unrealized Gain/Loss on Fair Value of Net Investment Hedges			Total
	Balance at December 31, 2010		$	1,410			$	—			$	—		$	(1,075	)	$	601		$	936
	Other comprehensive (loss) income before reclassifications		(1,010		)		611				—			(3,159		)	1,192			(2,366		)
	Amounts reclassified from accumulated other comprehensive income		(806		)		—				—			(94		)	—			(900		)
	Net other comprehensive (loss) income		(1,816		)		611				—			(3,253		)	1,192			(3,266		)
	Balance at December 31, 2011		(406		)		611				—			(4,328		)	1,793			(2,330		)
	Other comprehensive income (loss) before reclassifications		7,135				266				—			905			(1,176		)	7,130
	Amounts reclassified from accumulated other comprehensive income		—				—				—			356			28			384
	Net other comprehensive income (loss)		7,135				266				—			1,261			(1,148		)	7,514
	Balance at December 31, 2012		6,729				877				—			(3,067		)	645			5,184
	Other comprehensive income (loss) before reclassifications		9,787				(552		)		(19		)	4,983			(3,846		)	10,353
	Amounts reclassified from accumulated other comprehensive income		(12,895		)		—				—			(67		)	18			(12,944		)
	Net other comprehensive (loss) income		(3,108		)		(552		)		(19		)	4,916			(3,828		)	(2,591		)
	Balance at December 31, 2013		$	3,621			$	325			$	(19	)	$	1,849		$	(3,183	)	$	2,593
Reclassification out of Accumulated Other Comprehensive Income	'
	Information about amounts reclassified out of accumulated other comprehensive income by component is presented below:
		(In thousands)		Year Ended December 31,
		Component of Accumulated		2013				2012				2011			Affected Line Item in the
		Other Comprehensive Income													Consolidated Statements of Operations
		Equity in realized gain on sale of marketable securities of unconsolidated joint ventures		$	12,895			$	—			$	806		Equity in income of unconsolidated joint ventures
		Net settlement loss on derivative instruments designated as net investment hedges		(18		)		(28		)		—			Other loss, net
		Realized foreign exchange gain (loss)		67				(356		)		94			Other gain (loss), net

Earnings_per_Share_Tables

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Reconciles Numerator and Denominator of Basic and Diluted Per-Share	'
	The following table provides the basic and diluted earnings per common share computations:
			Year Ended December 31,
	(In thousands, except share and per share data)		2013			2012			2011
	Numerator:
	Net income		$	125,923		$	68,205		$	43,364
	Net income attributable to noncontrolling interest		(24,158		)	(6,194		)	(1,104		)
	Net income attributable to Colony Financial, Inc.		101,765			62,011			42,260
	Preferred dividends		(21,420		)	(13,915		)	—
	Net income attributable to common stockholders		80,345			48,096			42,260
	Net income allocated to participating securities (nonvested shares)		(725		)	(476		)	(8		)
	Numerator for basic net income allocated to common stockholders		79,620			47,620			42,252
	Interest expense attributable to convertible senior notes		—			—			—
	Numerator for diluted net income allocated to common stockholders		$	79,620		$	47,620		$	42,252
	Denominator:
	Basic weighted average number of common shares outstanding		66,181,700			35,925,600			28,732,200
	Weighted average effect of dilutive shares (1)		—			17,600			261,500
	Diluted weighted average number of common shares outstanding		66,181,700			35,943,200			28,993,700
	Earnings per share:
	Net income attributable to common stockholders per share–basic		$	1.2		$	1.33		$	1.47
	Net income attributable to common stockholders per share–diluted		$	1.2		$	1.32		$	1.46
	-1	For the year ended December 31, 2013, excluded from the calculation of diluted income per share are 6,154,100 weighted average dilutive common share equivalents which represent the assumed dilutive effect of the Convertible Senior Notes as the effect of their inclusion would be antidilutive. For the years ended December 31, 2012 and 2011, weighted average dilutive shares represent the effect of shares of common stock issuable to the Manager for incentive fees due for the period. For the year ended December 31, 2011, weighted average dilutive shares also include the effect of shares of common stock issuable for reimbursement of the Manager’s partial payment of underwriting discounts and commissions incurred in connection with the Company’s IPO (see Note 12).

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Summary of Amounts Due to Manager or its Affiliates	'
	The following table summarizes the amounts incurred by the Company and payable to the Manager or its affiliates for the periods presented:
		Year Ended December 31,
	(In thousands)	2013		2012		2011
	Base management fees	$	22,265	$	12,332	$	8,128
	Incentive fees	—		936		349
	Compensation pursuant to secondment agreement	1,286		1,207		1,248
	Allocated and direct investment-related expenses	1,771		1,657		1,719
	Allocated and direct administrative expenses	1,787		1,253		344
		$	27,109	$	17,385	$	11,788
	The following table summarizes the amounts due to the Manager or its affiliates as of each balance sheet date:
		December 31,
	(In thousands)	2013		2012
	Base management fees	$	6,045	$	3,932
	Secondment reimbursement	895		844
	Reimbursement of direct and allocated administrative and investment costs	1,046		208
		$	7,986	$	4,984

ShareBased_Payments_Tables

Share-Based Payments (Tables)	12 Months Ended
	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Nonvested Shares Under Director Stock Plan and Equity Incentive Plan	'
	A summary of the Company’s vested and nonvested shares under the Director Stock Plan and Equity Incentive Plan for the year ended December 31, 2013 is presented below:
			Restricted Stock			Restricted		Restricted			Total		Weighted Average Grant Date Fair Value
			Grants to			Stock Grants		Stock Grants
			Non-Executive			to Employee		to the Manager or Manager's Employees
			Directors
	Nonvested shares at December 31, 2012		8,274			17,172		496,749			522,195		18.17
	Granted		6,837			—		—			6,837		21.94
	Vested		(8,274		)	—		—			(8,274	)	16.32
	Forfeited		—			—		(7,990	)		(7,990	)	16.16
	Nonvested shares at December 31, 2013		6,837			17,172		488,759			512,768		18.28
	Weighted average grant date fair value per share for shares granted during the year ended December 31, 2013		$	21.94		n/a		n/a
Components of Share-Based Compensation	'
	The following table summarizes the components of share-based compensation included in the consolidated statements of operations:
			Year Ended December 31,
	(In thousands, except per share amounts)		2013			2012			2011
	Share-based compensation included in management fees		$	3,998		$	5,714		$	—
	Share-based compensation included in administrative expenses		285			419			116
	Total fair value of shares vested (1)		182			6,079			82
	Weighted average grant date fair value per share for shares granted during the period (1)		21.94			17.79			17.26
	-1	Based on the quoted closing share price of the Company's common stock on the NYSE on grant date or vesting date.

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
Income Tax Provision (Benefit)	'
	The Company’s TRSs are subject to corporate level federal, state, foreign and local income taxes. The following is a summary of the Company’s income tax provision:
		Year Ended December 31,
	(In thousands)	2013			2012			2011
	Current
	Federal	$	1,470		$	2,242		$	1,444
	State	671			669			252
	Total current tax provision	2,141			2,911			1,696
	Deferred
	Federal	(1,115		)	(661		)	(431		)
	State	(367		)	(85		)	(74		)
	Total deferred tax (benefit) provision	(1,482		)	(746		)	(505		)
	Total income tax provision	$	659		$	2,165		$	1,191
Income Tax Treatment of Dividends Declared	'
	The following table summarizes the income tax treatment of dividends declared for the years ended December 31, 2013, 2012 and 2011:
		Year Ended December 31,
		2013			2012			2011
	Common Stock:
	Ordinary income per share	$	0.98		$	0.83		$	1
	Long-term capital gains per share	0.42			0.61			0.31
	Total dividends declared per share	$	1.4		$	1.44		$	1.31
	Series A Preferred Stock:
	Ordinary income per share	$	1.48		$	1.01		$	—
	Long-term capital gains per share	0.65			0.74			—
	Total dividends declared per share	$	2.13		$	1.75		$	—

Segment_Information_Tables

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2013
Segment Reporting [Abstract]	'
Summary of Operating Results and Net Investments for Each of Reportable Operating Segment	'
	The operating results for each of the reportable segments are summarized below, including the reclassification of operating results of the other real estate equity segment for prior periods to conform to the current period presentation:
	(In thousands)	Real Estate			Single-Family			Other Real Estate Equity Investments		Amounts Not			Total
		Debt			Residential					Allocated to
		Investments			Rentals					Segments
	Year Ended December 31, 2013
	Income:
	Equity in income (loss) of unconsolidated joint ventures	$	89,553		$	(8,013	)	$	19,168	$	—		$	100,708
	Interest income	77,193			—			—		282			77,475
	Rental income and tenant reimbursements	—			—			789		—			789
	Other income from affiliates	1,267			—			—		—			1,267
	Total income	168,013			(8,013		)	19,957		282			180,239
	Expenses:
	Management fees	—			—			—		26,263			26,263
	Investment and servicing expenses	2,247			—			26		955			3,228
	Interest expense	5,295			—			227		13,316			18,838
	Property operating expenses	—			—			197		—			197
	Administrative expenses	178			—			—		7,370			7,548
	Depreciation and amortization	—			—			310		—			310
	Transaction costs	1,210			—			597		—			1,807
	Total expenses	8,930			—			1,357		47,904			58,191
	Realized gain on resolution of loans receivable	4,578			—			—					4,578
	Other loss, net	(44		)	—			—		—			(44		)
	Income (loss) before income taxes	163,617			(8,013		)	18,600		(47,622		)	126,582
	Income tax provision	—			—			—		659			659
	Net income (loss)	163,617			(8,013		)	18,600		(48,281		)	125,923
	Net income attributable to noncontrolling interests	22,892			—			1,266		—			24,158
	Net income (loss) attributable to Colony Financial, Inc.	$	140,725		$	(8,013	)	$	17,334	$	(48,281	)	$	101,765
	(In thousands)	Real Estate			Single-Family			Other Real Estate Equity Investments		Amounts Not			Total
		Debt			Residential					Allocated to
		Investments			Rentals					Segments
	Year Ended December 31, 2012
	Income:
	Equity in income (loss) of unconsolidated joint ventures	$	60,313		$	(2,126	)	$	10,550	$	—		$	68,737
	Interest income	36,275			—			—		170			36,445
	Other income from affiliates	1,973			—			—		—			1,973
	Total income	98,561			(2,126		)	10,550		170			107,155
	Expenses:
	Management fees	—			—			—		18,982			18,982
	Investment and servicing expenses	2,457			—			22		498			2,977
	Interest expense	4,409			—			—		3,839			8,248
	Administrative expenses	—			—			—		6,346			6,346
	Total expenses	6,866			—			22		29,665			36,553
	Realized gain on resolution of loans receivable	808			—			—					808
	Other loss, net	(1,040		)	—			—		—			(1,040		)
	Income (loss) before income taxes	91,463			(2,126		)	10,528		(29,495		)	70,370
	Income tax provision	—			—			—		2,165			2,165
	Net income (loss)	91,463			(2,126		)	10,528		(31,660		)	68,205
	Net income attributable to noncontrolling interests	6,194			—			—		—			6,194
	Net income (loss) attributable to Colony Financial, Inc.	$	85,269		$	(2,126	)	$	10,528	$	(31,660	)	$	62,011
	(In thousands)	Real Estate			Single-Family			Other Real Estate Equity Investments		Amounts Not			Total
		Debt			Residential					Allocated to
		Investments			Rentals					Segments
	Year Ended December 31, 2011
	Income:
	Equity in income (loss) of unconsolidated joint ventures	$	38,602		$	—		$	8,118	$	—		$	46,720
	Interest income	16,463			—			—		312			16,775
	Other income from affiliates	1,974			—			—		—			1,974
	Total income	57,039			—			8,118		312			65,469
	Expenses:
	Management fees	—			—			—		8,477			8,477
	Investment and servicing expenses	2,117			—			—		676			2,793
	Interest expense	702			—			—		2,309			3,011
	Administrative expenses	—			—			—		5,780			5,780
Total expenses	2,819			—			—		17,242			20,061
Other loss, net	(853		)	—			—		—			(853		)
Income (loss) before income taxes	53,367			—			8,118		(16,930		)	44,555
Income tax provision	—			—			—		1,191			1,191
Net income (loss)	53,367			—			8,118		(18,121		)	43,364
Net income attributable to noncontrolling interests	1,104			—			—		—			1,104
Net income (loss) attributable to Colony Financial, Inc.	$	52,263		$	—		$	8,118	$	(18,121	)	$	42,260
The net investments in each of the reportable segments are summarized as follows:
(In thousands)	31-Dec-13			31-Dec-12
Assets:
Real estate debt investments	$	1,707,228		$	939,448
Single-family residential rentals	530,007			251,501
Other real estate equity investments	344,244			70,496
Other assets not allocated to segments	47,073			174,122
Total consolidated assets	$	2,628,552		$	1,435,567

Selected_Quarterly_Financial_I1

Selected Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2013
Selected Quarterly Financial Information [Abstract]	'
Quarterly Results of Operations	'
	The following is a summary of quarterly results of operations for the years ended December 31, 2013 and 2012:
		2013 Quarter Ended											2012 Quarter Ended
	(In thousands, except per share data)	Dec 31			Sep 30			30-Jun		31-Mar			Dec 31		Sep 30			30-Jun			31-Mar
	Equity in income of unconsolidated joint ventures	$	30,862		$	25,052		$	22,992	$	21,802		$	21,464	$	15,838		$	15,994		$	15,441
	Interest income	26,486			22,122			17,455		11,412			10,752		10,816			9,051			5,826
	Rental income and tenant reimbursements	789			—			—		—			—		—			—			—
	Other income from affiliates	283			296			317		371			458		396			569			550
	Total income	58,420			47,470			40,764		33,585			32,674		27,050			25,614			21,817
	Management fees	6,951			6,520			6,422		6,370			6,706		3,812			3,944			4,520
	Other expenses	12,167			7,861			7,094		4,806			4,662		4,583			4,398			3,928
	Total expenses	19,118			14,381			13,516		11,176			11,368		8,395			8,342			8,448
	Other (loss) gain, net	(19		)	860			3,756		(63		)	603		(331		)	(276		)	(228		)
	Income tax provision (benefit)	79			(14		)	242		352			764		596			441			364
	Net income	39,204			33,963			30,762		21,994			21,145		17,728			16,555			12,777
	Net income attributable to noncontrolling interest	8,946			7,514			5,111		2,587			2,261		2,170			1,454			309
	Net income attributable to Colony Financial, Inc.	30,258			26,449			25,651		19,407			18,884		15,558			15,101			12,468
	Preferred dividends	5,355			5,355			5,355		5,355			5,355		5,102			3,082			376
	Net income attributable to common stockholders	$	24,903		$	21,094		$	20,296	$	14,052		$	13,529	$	10,456		$	12,019		$	12,092
	Net income per common share—basic	$	0.34		$	0.32		$	0.31	$	0.22		$	0.31	$	0.3		$	0.36		$	0.37
	Net income per common share—diluted	$	0.34		$	0.32		$	0.31	$	0.22		$	0.31	$	0.3		$	0.36		$	0.37

Significant_Accounting_Policie2

Significant Accounting Policies (Details)	6 Months Ended	12 Months Ended			0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2011	Dec. 09, 2013	Dec. 31, 2013	Dec. 09, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	Segment		Segment	Segment	Buildings and improvements	Buildings and improvements	Buildings and improvements	Buildings and improvements	Equipment	Equipment
					Minimum	Minimum	Maximum	Maximum	Minimum	Maximum
Property, Plant and Equipment [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of reportable segments	3	'	2	1	'	'	'	'	'	'
Estimated Useful Life (in years)	'	'	'	'	'10 years	'10 years	'40 years	'40 years	'5 years	'15 years
Residential leases term	'	'1 year	'	'	'	'	'	'	'	'
Minimum percentage of distribution of taxable income to stockholders to qualify as REIT	'	90.00%	'	'	'	'	'	'	'	'
Number of years for not qualifying REIT	'	'4 years	'	'	'	'	'	'	'	'

Investments_in_Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	Investment	Investment
Investments in and Advances to Affiliates [Line Items]	'	'	'
Contributions to unconsolidated joint ventures	$672,338,000	$528,347,000	$199,340,000
Number of other single investment represented grater than 10% of total assets	'	0	'
Threshold percentage of total assets	10.00%	10.00%	'
Threshold percentage of total income	10.00%	'	10.00%
Number of single investment in an unconsolidated joint venture generated greater than 10% of total income	0	'	'
Administrative expenses reimbursed to affiliates	3,073,000	2,460,000	1,592,000
Unconsolidated Joint Ventures, New	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Number of new unconsolidated joint ventures invested during period	14	15	'
Number of new loan origination during period	10	4	'
Number of loans acquired	4	10	'
Number of investments in unconsolidated joint ventures resolved during period	6	3	'
Contributions to unconsolidated joint ventures	369,000,000	528,000,000	'
CAH Operating Partnership Lp	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Contributions to unconsolidated joint ventures	295,000,000	255,000,000	'
Cumulative investment amount	550,000,000	'	'
Threshold percentage of total assets	20.00%	18.00%	'
Unconsolidated Joint Ventures	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Number of other single investment represented grater than 10% of total assets	0	'	'
Number of single investment in an unconsolidated joint venture generated greater than 10% of total income	0	'	'
Expenses allocated from affiliates related to unconsolidated joint ventures	26,700,000	12,900,000	7,700,000
Entity's share of other expenses reimbursed to affiliates	7,300,000	3,800,000	1,600,000
ColFin WLH Funding, LLC and ColFin NW Funding, LLC	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Percentage of total income generated by investments generating greater than ten percent of total income	'	12.00%	24.00%
Csfr Operating Partnership LP and Colfin American Investors LLC | Affiliates of CAH | Material Labor And Other Production Costs	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Administrative expenses reimbursed to affiliates	$66,500,000	$5,400,000	'
Minimum | Unconsolidated Joint Ventures	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Annual management fees basis points of outstanding UPB of each loan portfolio	0.50%	'	'
Maximum | Unconsolidated Joint Ventures	'	'	'
Investments in and Advances to Affiliates [Line Items]	'	'	'
Annual management fees basis points of outstanding UPB of each loan portfolio	0.75%	'	'

Investments_in_Unconsolidated_3

Investments in Unconsolidated Joint Ventures - Investments in Unconsolidated Joint Ventures (Details) (USD $)

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

CAH Operating Partnership Lp

CAH Operating Partnership Lp

Portfolio 8 Investors Llc

ColFin Court Square Funding, LLC

ColFin Court Square Funding, LLC

ColFin Hunt Holdco A, LLC and ColFin Hunt Holdco B, LLC

ColFin Hunt Holdco A, LLC and ColFin Hunt Holdco B, LLC

ColFin 2011 CRE Holdco, LLC and Colony AMC 2011 CRE, LLC

ColFin 2011 CRE Holdco, LLC and Colony AMC 2011 CRE, LLC

ColFin NW Funding, LLC

ColFin NW Funding, LLC

ColFin JIH Holdco, LLC and ColFin JIH Mezzco A, LLC

ColFin JIH Holdco, LLC and ColFin JIH Mezzco A, LLC

ColFin Bulls Funding A, LLC and ColFin Bulls Funding B, LLC

ColFin Bulls Funding A, LLC and ColFin Bulls Funding B, LLC

ColFin DB Guarantor, LLC and Colony AMC DB, LLC

ColFin DB Guarantor, LLC and Colony AMC DB, LLC

ColFin Ash Funding, LLC

ColFin Ash Funding, LLC

Colfin STC Funding Llc

Colfin STC Funding Llc

W&D Interim Lender, LLC

W&D Interim Lender, LLC

Colfin Mizner Funding Llc

Colfin Mizner Funding Llc

ColFin Cabo Palm Funding, LLC

ColFin Cabo Palm Funding, LLC

ColFin 666 Funding, LLC

ColFin 666 Funding, LLC

ColFin PHX Tower Funding, LLC

ColFin PHX Tower Funding, LLC

ColFin London Funding, LLC

ColFin London Funding, LLC

ColFin 2012 CRE ADC Holdco, LLC and Colony AMC 2012 CRE ADC, LLC

ColFin 2012 CRE ADC Holdco, LLC and Colony AMC 2012 CRE ADC, LLC

ColFin Grand Cul Funding, LLC

ColFin Grand Cul Funding, LLC

ColFin 2012 CRE ADC Holdco, LLC and Colony AMC 2012 CRE ADC, LLC

ColFin 2012 CRE ADC Holdco, LLC and Colony AMC 2012 CRE ADC, LLC

ColFin FCDC Funding, LLC

ColFin FCDC Funding, LLC

ColFin ARP Funding, LLC

ColFin ARP Funding, LLC

Other unconsolidated joint ventures (investments less than $5 million carrying value at December 31, 2013)

Other unconsolidated joint ventures (investments less than $5 million carrying value at December 31, 2013)

Other unconsolidated joint ventures (investments less than $5 million carrying value at December 31, 2013)

Other unconsolidated joint ventures (investments less than $5 million carrying value at December 31, 2013)

Non-performing

Performing

unit

Property

SecurityLoan

hotel

Property

Property

Investment

SecurityLoan

SecurityLoan

Property

Investment

Minimum

Maximum

ColFin Hunt Holdco A, LLC and ColFin Hunt Holdco B, LLC

ColFin NW Funding, LLC

Property

SecurityLoan

SecurityLoan

hotel

Property

SecurityLoan

SecurityLoan

Schedule Of Equity Method Investments Joint Ventures [Line Items]

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Investment description

'

'

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'Investment in CAH OP, an investment vehicle created for the purpose of acquiring and renting single-family homes

'

'Preferred equity investment in an entity that acquired a multifamily portfolio composed of approximately 7,600 units located in Georgia, Florida and Texas

[1]

'Preferred equity investment in an entity that acquired a Class A office tower located in Long Island City, New York

'

'1 non-performing commercial real estate loan and 2 REO properties

'

'410 performing and non-performing loans acquired in a structured transaction with the FDIC, secured mostly by commercial real estate, and 22 REO properties

'

'15 performing acquired first mortgages secured by commercial real estate

'

'Equity interests in and senior mezzanine loan receivable from entities owning a portfolio of 102 limited service hotels

'

'354 performing and non-performing acquired loans consisting of substantially all first mortgage recourse commercial real estate loans and 14 REO properties

'

'452 performing and non-performing loans acquired in a structured transaction with the FDIC, secured mostly by commercial real estate and 117 REO properties

'

'2 most junior mortgage participation interests secured by 5 full-service hotels

'

'Acquired performing senior mortgage loan secured by a retail property in Florida

'

'First mortgage loan secured by a student housing community in New York

[2]

'

'First mortgage loan origination secured by a multifamily development parcel located in Florida

'

'Participation in junior first mortgage interest secured by a luxury beach resort in Mexico

'

'First mortgage pari-passu participation interest secured by Class A midtown Manhattan office building

'

'Equity interest in a high-rise office tower located in Phoenix, Arizona

'

'8 performing and non-performing acquired loans secured by commercial real estate

'

'383 performing and non-performing loans acquired in a structured transaction with the FDIC, mostly secured by commercial real estate and 5 REO properties

'

'First mortgage loans secured by a partially constructed hotel and residential development project located in the Caribbean

'

'First mortgage loan secured by a Southern California master planned development and equity participation rights

'

'Equity interests acquired through deed-in-lieu in 2 partially developed master planned communities located in California

'

'First mortgage loan to finance the acquisition and redevelopment of high-end, single family residential properties in infill, coastal southern California markets

'

'26 investments with less than $15 million carrying value at December 31, 2013

'

'

'

'

'

Percentage of joint venture ownership

'

'

'

24.30%

[3]

'

75.00%

[1],[3]

50.00%

[3]

'

37.90%

[3]

'

44.40%

[3]

'

37.90%

[3]

'

33.30%

[3]

'

32.50%

[3]

'

33.30%

[3]

'

50.00%

[3]

'

50.00%

[3]

'

90.00%

[2],[3]

'

50.00%

[3]

'

50.00%

[3]

'

33.30%

[3]

'

50.00%

[3]

'

50.00%

[3]

'

50.00%

[3]

'

33.30%

[3]

'

50.00%

[3]

'

50.00%

[3]

'

50.00%

[3]

'

'

'

4.50%

[3]

50.00%

[3]

'

'

Investments in unconsolidated joint ventures

$1,369,529,000

$877,081,000

$443,500,000

$530,007,000

$251,501,000

$148,683,000

[1]

$49,103,000

$46,188,000

$36,133,000

$26,963,000

$34,298,000

$38,220,000

$33,682,000

$32,676,000

$31,559,000

$32,320,000

$30,309,000

$39,662,000

$26,293,000

$39,317,000

$24,765,000

$24,365,000

$23,299,000

$0

$22,309,000

[2]

$0

[2]

$21,130,000

$0

$20,072,000

$0

$19,096,000

$17,595,000

$18,408,000

$16,454,000

$18,138,000

$37,427,000

$16,795,000

$15,370,000

$16,595,000

$0

$16,068,000

$15,086,000

$15,894,000

$15,422,000

$15,350,000

$0

$201,543,000

$228,515,000

'

'

'

'

Number of units in real estate property

'

'

'

'

'

7,600

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of loans acquired

'

'

'

'

'

'

'

'

'

'

410

'

'

'

'

'

354

'

452

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8

'

383

'

'

'

383

'

'

'

'

'

'

'

'

'

1

15

Number of limited service hotels

'

'

'

'

'

'

'

'

'

'

'

'

'

'

102

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of full service hotels

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of most junior mortgage participation interests

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of real estates

'

'

'

'

'

'

'

'

2

'

22

'

'

'

'

'

14

'

117

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5

'

'

'

5

'

'

'

'

'

'

'

'

'

'

'

No of partially developed master planned communities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

Other unconsolidated joint ventures, investment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$15,000,000

'

'

Number of investments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

26

'

'

'

'

'

[1]

While the Company has a majority ownership interest in Portfolio 8 Investors, LLC, the minority member has control over the day-to-day operations of the entity. Accordingly, the Company accounts for its investment using the equity method.

[2]

The Company has determined that W&D Interim Lender, LLC is a VIE for which the Company is not the primary beneficiary because the power to direct the activities that most significantly impact the VIE is shared equally between its members but the other member has the obligation to absorb losses of the VIE that potentially could be significant to the VIE. Accordingly, the Company accounts for its investment using the equity method.

[3]

The Company's ownership percentage represents capital contributed to date and may not be reflective of the Company's economic interest in the entity because of provisions in operating agreements governing various matters, such as classes of partner or member interests, allocations of profits and losses, preferential returns and guaranty of debt. Each unconsolidated joint venture has been determined to be either a VIE for which the Company was not deemed to be the primary beneficiary or a voting interest entity in which the Company does not have a controlling financial interest.

Investments_in_Unconsolidated_4

Investments in Unconsolidated Joint Ventures - Activity in the Company's Investment in Unconsolidated Joint Ventures (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Equity Method Investments and Joint Ventures [Roll Forward]	'	'	'	'	'	'	'	'	'	'	'
Balance at January 1	'	'	'	$877,081	'	'	'	$443,500	$877,081	$443,500	'
Contributions	'	'	'	'	'	'	'	'	672,338	528,347	'
Assignment of loans receivable and related liabilities	'	'	'	'	'	'	'	'	0	29,427	0
Distributions	'	'	'	'	'	'	'	'	-279,161	-201,335	'
Equity in net income	30,862	25,052	22,992	21,802	21,464	15,838	15,994	15,441	100,708	68,737	46,720
Equity in other comprehensive income	'	'	'	'	'	'	'	'	9,827	7,144	'
Equity in realized gain reclassified from accumulated other comprehensive income	'	'	'	'	'	'	'	'	-12,935	0	'
Foreign currency translation gain	'	'	'	'	'	'	'	'	1,671	1,261	'
Balance at December 31	$1,369,529	'	'	'	$877,081	'	'	'	$1,369,529	$877,081	$443,500

Investments_in_Unconsolidated_5

Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2012
In Thousands, unless otherwise specified	USD ($)	USD ($)	USD ($)	USD ($)	Unconsolidated Joint Ventures	Unconsolidated Joint Ventures	Unconsolidated Joint Ventures
					USD ($)	USD ($)	EUR (€)
Assets:	'	'	'	'	'	'	'
Cash and cash equivalents	$43,167	$170,199	$3,872	$66,245	$321,183	$156,704	'
Loans receivable, net	1,028,654	333,569	232,619	69,929	2,171,943	2,383,748	'
Investments in real estate	112,468	0	'	'	3,658,940	990,105	'
Investments in unconsolidated joint ventures	1,369,529	877,081	443,500	'	459,010	436,188	31,300
Debt and equity securities, available-for-sale, at fair value	'	'	'	'	24,753	247,963	'
Other assets	43,900	22,663	'	'	345,196	825,804	'
Total assets	2,628,552	1,435,567	'	'	6,981,025	5,040,512	'
Liabilities:	'	'	'	'	'	'	'
Debt	'	'	'	'	1,515,188	1,018,865	'
Other liabilities	18,105	12,944	'	'	140,509	65,193	'
Total liabilities	674,325	152,537	'	'	1,655,697	1,084,058	'
Owners’ equity	1,684,310	1,223,331	'	'	4,465,363	2,997,533	'
Noncontrolling interests	269,917	59,699	'	'	859,965	958,921	'
Total liabilities and equity	2,628,552	1,435,567	'	'	6,981,025	5,040,512	'
Company’s share of equity	$1,369,529	$877,081	$443,500	'	$459,010	$436,188	€ 31,300

Investments_in_Unconsolidated_6

Investments in Unconsolidated Joint Ventures - Combined Condensed Statements of Operations of Unconsolidated Joint Ventures (Details) (USD $)

1 Months Ended

3 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Income:

'

'

'

'

'

'

'

'

'

'

'

'

Interest income

'

$26,486

$22,122

$17,455

$11,412

$10,752

$10,816

$9,051

$5,826

$77,475

$36,445

$16,775

Equity in income (loss) of unconsolidated joint ventures

'

30,862

25,052

22,992

21,802

21,464

15,838

15,994

15,441

100,708

68,737

46,720

Total income

'

58,420

47,470

40,764

33,585

32,674

27,050

25,614

21,817

180,239

107,155

65,469

Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

Interest expense

'

'

'

'

'

'

'

'

'

18,838

8,248

3,011

Property operating expenses

'

'

'

'

'

'

'

'

'

197

0

0

Depreciation and amortization

'

'

'

'

'

'

'

'

'

310

0

0

Total expenses

'

19,118

14,381

13,516

11,176

11,368

8,395

8,342

8,448

58,191

36,553

20,061

Other income:

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss)

'

39,204

33,963

30,762

21,994

21,145

17,728

16,555

12,777

125,923

68,205

43,364

Net income attributable to noncontrolling interests

'

8,946

7,514

5,111

2,587

2,261

2,170

1,454

309

24,158

6,194

1,104

Net income attributable to members

-542

30,258

26,449

25,651

19,407

18,884

15,558

15,101

12,468

101,765

62,011

42,260

Equity in income (loss) of unconsolidated joint ventures

'

30,862

25,052

22,992

21,802

21,464

15,838

15,994

15,441

100,708

68,737

46,720

Unconsolidated Joint Ventures

'

'

'

'

'

'

'

'

'

'

'

'

Income:

'

'

'

'

'

'

'

'

'

'

'

'

Interest income

'

'

'

'

'

'

'

'

'

362,163

372,958

320,409

Property operating income

'

'

'

'

'

'

'

'

'

206,848

96,897

5,998

Equity in income (loss) of unconsolidated joint ventures

'

'

'

'

'

'

'

'

'

26,410

53,110

75,953

Other income

'

'

'

'

'

'

'

'

'

25,221

29,325

14,962

Total income

'

'

'

'

'

'

'

'

'

620,642

552,290

417,322

Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

Interest expense

'

'

'

'

'

'

'

'

'

31,012

37,185

26,950

Property operating expenses

'

'

'

'

'

'

'

'

'

152,154

73,770

9,695

Depreciation and amortization

'

'

'

'

'

'

'

'

'

59,902

12,850

953

Other expenses

'

'

'

'

'

'

'

'

'

90,547

88,662

61,682

Total expenses

'

'

'

'

'

'

'

'

'

333,615

212,467

99,280

Other income:

'

'

'

'

'

'

'

'

'

'

'

'

Realized and unrealized gain on investments, net

'

'

'

'

'

'

'

'

'

194,372

145,258

71,651

Net income (loss)

'

'

'

'

'

'

'

'

'

481,399

485,081

389,693

Net income attributable to noncontrolling interests

'

'

'

'

'

'

'

'

'

102,431

84,806

81,439

Net income attributable to members

'

'

'

'

'

'

'

'

'

378,968

400,275

308,254

Equity in income (loss) of unconsolidated joint ventures

'

'

'

'

'

'

'

'

'

$26,410

$53,110

$75,953

Loans_Receivable_Details

Loans Receivable (Details) (USD $)

12 Months Ended

12 Months Ended

12 Months Ended

12 Months Ended

12 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Jul. 19, 2013

Jul. 19, 2013

Dec. 31, 2013

Dec. 31, 2012

Oct. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Nov. 30, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Contract

Contract

Contract

Performing

Performing

Twenty One Hundred Grand

Mezzanine loans

Mezzanine loans

Loans Receivable

Loans Origination

Loans Origination

Loans Origination

A Note

B-note

B-note

B-note

Loans

Lifestyle Athletic Club Mortgage Participation

Hotels Mortgage Participation

Hotel Mortgage Participation by Noncontrolling Interest

Loan Portfolio

Loan Portfolio

Multifamily and Senior Housing Participating by Noncontrolling Interest

Product Concentration Risk

One-Month LIBOR

One-Month LIBOR

SPAIN

Multifamily and Senior Housing

Office and Retail Building

Origination and Acquisition Loans

SecurityLoan

SecurityLoan

SecurityLoan

SecurityLoan

SecurityLoan

Performing

Performing

SecurityLoan

Minimum

Maximum

Performing

Performing

Performing

First Mortgage

Mezzanine loans

Mezzanine loans

Loans Receivable

Loans Receivable

Loans Receivable

Total assets

Mezzanine loans

Loans Origination

Loans

Loan Portfolio

Purchased Credit-Impaired Loans

SecurityLoan

SecurityLoan

SecurityLoan

SecurityLoan

club

SecurityLoan

Non-performing

Mezzanine loans

Performing

Non-performing

Loans Receivable

Non-performing

SecurityLoan

Performing

SecurityLoan

SecurityLoan

Accounts, Notes, Loans and Financing Receivable [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loan acquisitions

$876,503,000

$204,298,000

$160,980,000

'

'

'

'

'

'

$86,000,000

'

'

'

'

'

'

'

$122,000,000

$328,000,000

$154,000,000

'

'

$48,000,000

'

'

'

'

$177,000,000

$164,000,000

$876,503,000

Number of athletic clubs are located in California

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11

'

'

'

'

'

'

'

'

'

'

'

'

Number of loans held-in-portfolio

42

7

'

37

7

'

2

3

6

'

'

'

'

'

2

1

'

'

'

'

27

'

'

'

2

'

'

'

'

'

Number of loans acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

3

'

Amount contributed by noncontrolling interest in loans acquisition

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

28,000,000

'

Variable rate basis of loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1-Month LIBOR

'LIBOR

'

'

'

'

Weighted Average Spread

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10.80%

6.51%

'

'

'

'

Initial terms on loans receivable

'

'

'

'

'

'

'

'

'

'

'2 years

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Yield maintenance premium on first mortgage loan

4,578,000

808,000

0

'

'

3,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

A-note loan receivable

'

'

'

'

'

'

'

'

'

'

'

'

32,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Carrying values of B-note

'

'

'

'

'

'

'

'

'

'

'

'

'

90,100,000

'

'

'

'

'

'

'

'

'

'

328,185,000

'

'

'

'

'

Realized gain on sale of mezzanine loans

'

'

'

'

'

'

$1,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Concentration risk percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12.00%

'

'

'

'

'

'

Percentage of loan income

14.00%

18.00%

'

'

'

'

13.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of loans represented greater than 10% of total assets

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Threshold percentage of total assets

10.00%

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of loans representing greater than 10% of total income

2

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of loans generating greater than 10% of income

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Threshold percentage of total income

10.00%

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of trouble debt restructuring

0

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unaffiliated investors owning noncontrolling interest in Joint Venture

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

27.00%

'

'

'

'

'

'

'

'

'

17.00%

'

'

'

Loans_Receivable_Company_Loan_

Loans Receivable - Company Loan Receivable (Details) (USD $)

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

In Thousands, unless otherwise specified

SecurityLoan

SecurityLoan

Performing

Performing

Performing

Performing

Performing

Performing

Performing

Performing

Non-performing

Non-performing

SecurityLoan

SecurityLoan

Mortgage loans

Mortgage loans

B-note

B-note

Mezzanine loans

Mezzanine loans

Mortgage loans

Mortgage loans

SecurityLoan

SecurityLoan

SecurityLoan

SecurityLoan

SecurityLoan

SecurityLoan

SecurityLoan

SecurityLoan

Financing Receivable, Recorded Investment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans principal amount outstanding

$1,197,764

$363,561

'

'

$898,529

$363,561

$463,552

$233,003

$104,068

$14,558

$330,909

$116,000

$299,235

$0

Loans held for investment, net

$1,028,654

$333,569

$232,619

$69,929

$854,721

$333,569

$423,078

$203,098

$103,458

$14,471

$328,185

$116,000

$173,933

$0

Performing loans, weighted average coupon

'

'

'

'

'

'

7.10%

8.90%

10.90%

20.90%

11.00%

10.10%

'

'

Performing loans, weighted average maturity in years

'

'

'

'

'

'

'3 years 10 months 24 days

'2 years 1 month 6 days

'3 years 9 months 18 days

'3 years 3 months 18 days

'2 years 4 months 24 days

'5 years 2 months 12 days

'

'

Number of loans held-in-portfolio

42

7

'

'

37

7

33

3

2

1

2

3

5

0

Loans_Receivable_Schedule_of_N

Loans Receivable - Schedule of Non-PCI Loans (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012
	SecurityLoan		SecurityLoan
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Principal	$1,197,764		$363,561
Number of Loans	42		7
Performing	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Principal	898,529		363,561
Number of Loans	37		7
Performing | Mortgage loans	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Principal	463,552		233,003
Number of Loans	33		3
Performing | Mezzanine loans	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Principal	330,909		116,000
Number of Loans	2		3
Performing | One-Month LIBOR | Mortgage loans	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Index	'1-Month LIBOR	[1]	'1-Month LIBOR
Weighted Average Spread	4.85%		4.00%
Weighted Average Rate	7.71%	[2]	8.57%
Principal	246,478		171,961
Carrying Amount	220,111		142,575
Number of Loans	9		1
Performing | One-Month LIBOR | Mezzanine loans	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Index	'1-Month LIBOR		'
Weighted Average Spread	10.80%		'
Weighted Average Rate	10.97%		'
Principal	330,909		'
Carrying Amount	328,185		'
Number of Loans	2		'
Performing | Variable Rate Loans	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Principal	607,451		'
Carrying Amount	575,891		'
Number of Loans	14		'
Performing | One-Month Reference Bills | Mortgage loans	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Index	'1-Month Reference Bills	[3]	'
Weighted Average Spread	4.65%		'
Weighted Average Rate	4.66%		'
Principal	30,064		'
Carrying Amount	$27,595		'
Number of Loans	3		'
[1]	LIBOR =ondon Interbank Offered Rate
[2]	Certain loans are subject to a LIBOR floor which is higher than the actual LIBOR at December 31, 2013.
[3]	Reference Bills =reddie Mac Reference Bill index

Loans_Receivable_Activity_in_L

Loans Receivable - Activity in Loan Receivable (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Loans Receivable [Roll Forward]	'	'	'
Balance at January 1	$333,569	$232,619	$69,929
Loan acquisitions and originations	876,503	204,298	160,980
Paid-in-kind interest added to loan principal	218	851	608
Discount and net loan fee amortization	10,053	3,656	1,332
Carrying value of loans sold	-70,280	-30,159	0
Assignment of loans receivable to investment in unconsolidated joint ventures	0	-29,612	0
Noncash distribution of loan receivable to a noncontrolling interest	-18,500	0	0
Principal repayments	-106,083	-48,084	-230
Payments received from PCI loans	-544	0	0
Effect of foreign exchange rates	3,718	0	0
Balance at December 31	$1,028,654	$333,569	$232,619

Loans_Receivable_Payments_Unde

Loans Receivable - Payments Under Loan Agreements (Details) (USD $)	Dec. 31, 2013
Receivables [Abstract]	'
2014	$150,835,000	[1]
2015	68,582,000
2016	452,380,000
2017	111,941,000
2018	7,360,000
2019 and after	95,931,000
Total	887,029,000
Credit available to borrower upon full payoff	$11,500,000
[1]	Net of $11.5 million credit available to borrower upon full payoff.

Loans_Receivable_Accretable_Yi

Loans Receivable - Accretable Yield (Details) (USD $)	Dec. 31, 2013	Nov. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Receivables [Abstract]	'	'	'
Contractually required payments including interest	'	$315,939	'
Less: cash flows not expected to be collected (nonaccretable difference)	'	17,253	'
Total cash flows expected to be collected	'	298,686	'
Less: accretable yield	130,823	131,037	0
Fair value of loans at acquisition	'	$167,649	'

Loans_Receivable_Changes_in_Ac

Loans Receivable - Changes in Accretable Yield (details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Nov. 30, 2013
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]	'	'
Accretable yield at January 1	$0	$131,037
Additions	131,037	'
Accretion	-3,108	'
Effect of foreign exchange rates	2,894	'
Accretable yield at December 31	$130,823	$131,037

Acquisition_of_Real_Estate_Det

Acquisition of Real Estate (Details) (USD $)	12 Months Ended					0 Months Ended		0 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 09, 2013	Dec. 09, 2013	Dec. 09, 2013	Dec. 09, 2013
				Minnesota Office	Minnesota Office	Building	Parking Garage	Mortgages
						Minnesota Office	Minnesota Office	Minnesota Office
						Property	Property
						sqft
Business Acquisition [Line Items]	'	'	'	'	'	'	'	'
Number of real estates	'	'	'	'	'	2	2	'
Total rentable square feet	'	'	'	'	'	502,000	'	'
Closing costs	'	'	'	'	'	$600,000	'	'
Acquisition cost	'	'	'	'	'	123,400,000	'	'
Amount of loan financed to acquire property	'	'	'	'	'	'	'	88,000,000
Fixed-rate mortgage loan terms	'	'	'	'	'	'	'	'10 years
Operating partner percent of the acquisition	'	'	'	'	0.75%	'	'	'
Acquisition-related expenses excluded from pro forma results	$1,807,000	$0	$0	$597,000	'	'	'	'

Acquisition_of_Real_Estate_Est

Acquisition of Real Estate Estimated Fair Values of Assets Acquired (Details) (USD $)	0 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Dec. 09, 2013		Dec. 31, 2013
Real estate assets:	'		'
Land	8,319		'
Buildings and improvements	97,011	[1]	'
Tenant improvements	7,356		'
Identifiable intangible assets:	'		'
In-place lease value	7,845	[2]	'
Deferred leasing costs	2,219	[2]	'
Total assets acquired	122,750		'
In-place lease value	'		'
Identifiable intangible assets:	'		'
Estimated Useful Life (in years)	'6 years 9 months 18 days	[3]	'
Deferred leasing costs	'		'
Identifiable intangible assets:	'		'
Estimated Useful Life (in years)	'6 years 9 months 18 days	[3]	'
Tenant improvements	'		'
Real estate assets:	'		'
Estimated Useful Life (in years)	'6 years 9 months 18 days	[3]	'
Minimum | Buildings and improvements	'		'
Real estate assets:	'		'
Estimated Useful Life (in years)	'10 years		'10 years
Maximum | Buildings and improvements	'		'
Real estate assets:	'		'
Estimated Useful Life (in years)	'40 years		'40 years
[1]	Buildings and improvements consist of two office buildings, two parking garages and non-building site improvements including paving, site lights, landscaping and others. Since the in-place lease represents a separate fair value component from the tangible real estate in an income-producing property subject to lease, the buildings were valued as if they were vacant and available to lease at market terms on the purchase date.
[2]	The net amount recorded for acquired identifiable intangible assets was included in other assets on the accompanying balance sheet as of December 31, 2013.
[3]	The lease-related tangible and intangible assets are amortized on a straight-line basis as an increase to depreciation and amortization expense over the remaining term of the applicable leases.

Acquisition_of_Real_Estate_Res

Acquisition of Real Estate Results of Operations of the Acquired Properties (Details) (USD $)

1 Months Ended

3 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Business Combinations [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

Rental income and tenant reimbursements

$789

'

'

'

'

'

'

'

'

'

'

'

Net income (loss) attributable to Colony Financial, Inc.

($542)

$30,258

$26,449

$25,651

$19,407

$18,884

$15,558

$15,101

$12,468

$101,765

$62,011

$42,260

Acquisition_of_Real_Estate_Com

Acquisition of Real Estate Components of Real Estate (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013		Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
			Minnesota Office		Land	Building and Improvements	Tenant improvements
					Minnesota Office	Minnesota Office	Minnesota Office
Business Acquisition [Line Items]	'	'	'		'	'	'
Property, plant and equipment, gross	'	'	$112,686,000	[1]	$8,319,000	$97,011,000	$7,356,000
Accumulated depreciation	'	'	-218,000		'	'	'
Net carrying amount	112,468,000	0	112,468,000		'	'	'
Aggregate gross taxable value of property	'	'	121,100,000	[1]	'	'	'
Depreciation expense	'	'	$218,000		'	'	'
[1]	The aggregate gross cost of property for federal income tax purposes was approximately $121.1 million as of December 31, 2013.

Acquisition_of_Real_Estate_Int

Acquisition of Real Estate Intangible Assets (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013
In-place lease value	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Accumulated Amortization	($72)
Net Carrying Amount	7,773
Deferred leasing costs	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Net Carrying Amount	2,199
Minnesota Office	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Gross Carrying Amount	10,064
Accumulated Amortization	-92
Net Carrying Amount	9,972
Amortization Expense	92
Minnesota Office | In-place lease value	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Gross Carrying Amount	7,845
Accumulated Amortization	-72
Net Carrying Amount	7,773
Minnesota Office | Deferred leasing costs	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Gross Carrying Amount	2,219
Accumulated Amortization	-20
Net Carrying Amount	$2,199

Acquisition_of_Real_Estate_Exp

Acquisition of Real Estate Expected Amortization Expenses for Acquired Intangible Assets (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
In-place lease value	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
2014	$1,152
2015	1,152
2016	1,152
2017	1,152
2018	1,152
2019 and after	2,013
Net Carrying Amount	7,773
Deferred leasing costs	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
2014	326
2015	326
2016	326
2017	326
2018	326
2019 and after	569
Net Carrying Amount	$2,199

Acquisition_of_Real_Estate_Fut

Acquisition of Real Estate Future Minimum Rental Payments (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Business Combinations [Abstract]	'
2014	$9,195
2015	9,195
2016	9,365
2017	9,654
2018	9,820
2019 and after	17,380
Total	$64,609

Acquisition_of_Real_Estate_Pro

Acquisition of Real Estate Pro Forma (Details) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Business Combinations [Abstract]	'	'
Total income	$192,095	$119,800
Net income attributable to common stockholders	$80,952	$47,563
Net income attributable to common stockholders per share–basic	$1.21	$1.31
Net income attributable to common stockholders per share–diluted	$1.21	$1.31

Beneficial_Interests_in_Debt_S2

Beneficial Interests in Debt Securities (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2011
			Tax Exempt Bonds
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Percentage of joint venture ownership with strategic partner	'	'	99.00%
Amount of acquisition in beneficial interests in a series of tax-exempt bond	$28,000,000	$28,000,000	$28,000,000
Aggregate principal amount of acquisition	'	'	40,400,000
Beneficial interests in debt securities, available-for-sale, at fair value	$30,834,000	$32,055,000	$32,100,000
Bonds term	'	'	'6 years
Rate of interest of bonds	'	'	7.13%

Beneficial_Interests_in_Debt_S3

Beneficial Interests in Debt Securities - Summary of Beneficial Interest in Debt Securities (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Investments, Debt and Equity Securities [Abstract]	'	'
Principal	$28,000	$28,000
Unamortized premium	2,507	3,174
Amortized cost	30,507	31,174
Unrealized gain included in accumulated other comprehensive income	327	881
Fair value	$30,834	$32,055

Other_Assets_Details

Other Assets (Details) (USD $)	Dec. 31, 2013		Dec. 31, 2012
Summary of Company's other assets	'		'
Restricted cash	$7,898,000	[1]	$13,866,000	[1]
Deferred financing costs, net	11,275,000	[2]	2,281,000	[2]
In-place lease value, net	7,773,000	[3]	0
Deferred leasing costs, net	2,199,000	[4]	0
Receivables	8,277,000		3,414,000
Derivative assets, net of tax effect	3,108,000		760,000
Deferred tax assets, net of allowances	2,391,000	[5]	1,176,000
Other assets	979,000		1,166,000
Total other assets	43,900,000		22,663,000
Accumulated amortization of deferred financing costs	6,500,000		3,500,000
Accumulated amortization of deferred leasing costs	20,000		'
Valuation allowance of deferred tax assets	356,000		300,000
In-place lease value	'		'
Summary of Company's other assets	'		'
Accumulated amortization of in-place lease	$72,000		'
[1]	Restricted cash includes borrower escrow accounts and an interest reserve account to service secured financing.
[2]	Deferred financing costs are shown net of accumulated amortization of $6.5 million and $3.5 million as of December 31, 2013 and 2012, respectively.
[3]	In-place lease value is shown net of accumulated amortization of $72,000 as of December 31, 2013.
[4]	Deferred leasing costs are shown net of accumulated amortization of $20,000 as of December 31, 2013.
[5]	Deferred tax assets are shown net of allowances of $356,000 and $300,000 as of December 31, 2013 and 2012.

Line_of_Credit_Details

Line of Credit (Details) (USD $)	1 Months Ended	12 Months Ended		12 Months Ended
	Nov. 30, 2013	Dec. 31, 2013	Aug. 06, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Sep. 01, 2011	Jan. 31, 2014
	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	Bank of America, N.A.	Subsequent Event
				Line of Credit	Line of Credit	Line of Credit	LIBOR	LIBOR	LIBOR		JPMorgan Chase Bank, N.A.
					Minimum	Maximum	Line of Credit	Line of Credit	Line of Credit
								Minimum	Maximum
Line of Credit Facility [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Maximum principal amount of credit facility	'	$380,000,000	$360,000,000	'	'	'	'	'	'	$175,000,000	$420,000,000
Increase in maximum principal amount of credit facility	'	'	600,000,000	'	'	'	'	'	'	'	'
Increased in maximum borrowing capacity	20,000,000	'	'	'	'	'	'	'	'	'	'
Maximum amount available for draw	'	380,000,000	'	'	'	'	'	'	'	'	'
Line of credit remaining borrowing capacity	'	$241,500,000	'	'	'	'	'	'	'	'	'
Variable rate basis	'	'	'	'LIBOR	'	'	'	'	'	'	'
Interest rate for credit agreement (in percent)	'	'	'	'	'	'	2.75%	2.75%	3.00%	'	'
Borrowings weighted average interest rate	'	'	'	2.92%	'	'	'	'	'	'	'
Percentage of unused amount	'	'	'	0.50%	0.40%	0.50%	'	'	'	'	'
Credit agreement automatically converted to term loan	'	'2 years	'	'	'	'	'	'	'	'	'

Debt_Details

Debt (Details) (USD $)	12 Months Ended					12 Months Ended	0 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013		Dec. 31, 2013	Oct. 15, 2013	Apr. 10, 2013
				First mortgage loan		First mortgage loan	Convertible Senior Notes due 2023	Convertible Senior Notes due 2023
						Mortgages	Convertible Debt	Convertible Debt
								D
Debt Instrument [Line Items]	'	'	'	'		'	'	'
Fixed-rate mortgage loan terms	'	'	'	'		'30 years	'	'
Convertible senior notes	$200,000,000	$0	'	'		'	'	$200,000,000
Interest rate on seller-provided secured financing (in percent)	'	'	'	4.84%	[1]	'	'	5.00%
Discount rate on convertible senior notes (in percent)	'	'	'	'		'	'	3.00%
Net proceeds from issuance of convertible senior notes	194,000,000	0	0	'		'	'	'
Cash paid for interest	$13,558,000	$5,667,000	$1,568,000	'		'	$5,100,000	'
Conversion rate per $1,000 principal amount (in shares)	'	'	'	'		'	'	42.3819
Conversion price per share of common stock	'	'	'	'		'	'	$23.60
Earliest date of redemption on convertible notes	'	'	'	'		'	'	22-Apr-20
Threshold percentage of stock price trigger (in percent)	'	'	'	'		'	'	130.00%
Threshold trading days (in days)	'	'	'	'		'	'	20
Threshold consecutive trading days	'	'	'	'		'	'	'30 days
Redemption price, percentage of principal amount (in percent)	'	'	'	'		'	'	100.00%
[1]	The loan requires monthly interest payments until January 2016, then principal and interest payments based on a 30-year amortization period. The loan agreement requires rent receipts from the collateral property to be initially deposited into a lockbox account controlled by the lender. The excess of monthly rent receipts over monthly debt service is remitted to the Company.

Debt_Schedule_of_Secured_Debt_

Debt - Schedule of Secured Debt (Details) (USD $)

Dec. 31, 2013

Dec. 31, 2012

31-May-12

Dec. 23, 2010

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Luxury Destination Club Recourse Loan II

Twenty One Hundred Grand

Secured financing (1)

Secured financing (1)

Secured financing (2)

Secured financing (2)

Secured financing (3)

Secured financing (3)

First mortgage loan (4)

First mortgage loan (4)

One-Month LIBOR

Secured financing (1)

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable rate basis

'

'

'

'

'

'

'

'

'

'

'

'

'1-month LIBOR

[1]

Basis spread on variable rate (in percent)

'

'

'

'

'

'

'

'

'

'

'

'

2.85%

[1]

Maturity date

'

'

'

'

'

'

1-Jul-14

[2]

'

1-Jan-16

[3]

'

1-Jan-24

[4]

'

1-Dec-17

[1]

Outstanding balance on the secured financing

$277,607,000

$108,167,000

'

'

$115,000,000

[1]

$0

[1]

$74,607,000

[2]

$94,499,000

[2]

$0

[3]

$13,668,000

[3]

$88,000,000

[4]

$0

[4]

'

Interest rate on seller-provided secured financing (in percent)

'

'

'

'

'

'

5.00%

[2]

'

4.85%

[3]

'

4.84%

[4]

'

'

Principal curtailment, percentage of net cash flow from the underling loan portfolio

'

'

'

'

70.00%

'

'

'

'

'

'

'

'

Loans principal amount outstanding

1,197,764,000

363,561,000

181,000,000

'

'

'

'

'

'

'

'

'

'

Concurrent financing provided by seller

'

'

103,500,000

'

'

'

'

'

'

'

'

'

'

Percentage concurrent financing provided by seller

'

'

65.00%

'

'

'

'

'

'

'

'

'

'

Aggregate amount of first mortgage assigned to a third party

'

'

'

20,750,000

'

'

'

'

'

'

'

'

'

Secured financing on first mortgage

'

'

'

14,000,000

'

'

'

'

'

'

'

'

'

Retained amount in subordinated B-note participation

'

'

'

$6,750,000

'

'

'

'

'

'

'

'

'

[1]

The financing is secured by a loan portfolio acquired in October 2013. The financing requires monthly interest payments and principal curtailment based upon the ratio of principal outstanding to collateral cost basis. The initial principal curtailment requirement is 70% of all excess cash flow from the underlying loan portfolio, after payment of certain loan servicing fees and monthly interest, but may increase or decrease in the future.

[2]

In connection with the acquisition of a $181 million participation interest in a first mortgage loan in May 2012, the seller provided concurrent non-recourse financing for $103.5 million, or 65% of the purchase price. Concurrently with the loan acquisition, the borrower funded, on behalf of the Company, an interest reserve account in an amount sufficient to service the interest for the term of the secured financing. The interest reserve account is controlled by the secured financing lender and is included in other assets in the accompanying balance sheets. The financing has an initial maturity of July 2014 and can be extended to January 2017, subject to an extension fee. Upon exercise of the extension option, the borrower of the first mortgage loan will again be required to fund the interest reserve account on behalf of the Company to service the interest for the extended term of the secured financing.

[3]

On December 23, 2010, the Company assigned a $20.75 million first mortgage it originated to a third party in exchange for $14 million in proceeds, and retained a $6.75 million subordinated B-note participation. The Company accounted for the assignment as a financing transaction, as the Company retained effective control over the original first mortgage loan and, accordingly, it did not meet the criteria of a loan sale. In April 2013, as a result of a default by the borrower, the Company exercised its option to repurchase the A-note at par from the third party.

[4]

The loan requires monthly interest payments until January 2016, then principal and interest payments based on a 30-year amortization period. The loan agreement requires rent receipts from the collateral property to be initially deposited into a lockbox account controlled by the lender. The excess of monthly rent receipts over monthly debt service is remitted to the Company.

Debt_Schedule_Principal_Paymen

Debt - Schedule Principal Payments Due Under the Secured Financing Arrangements (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Minimum scheduled principal payments due under the secured financing arrangements	'	'
2014	$94,920	'
2015	83,677	'
2016	4,684	'
2017	8,825	'
2018	1,403	'
2019 and after	84,098	'
Total	$277,607	$108,167

Derivatives_and_Hedging_Detail

Derivatives and Hedging (Details)

12 Months Ended

12 Months Ended

12 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Nov. 30, 2013

Nov. 30, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

USD ($)

USD ($)

USD ($)

Unconsolidated Joint Ventures

Unconsolidated Joint Ventures

Unconsolidated Joint Ventures

Foreign currency risk

Foreign currency risk

Foreign currency risk

Foreign exchange contracts designated as hedging instruments

Foreign currency forward-exchange contracts

Not Designated as Hedging Instrument

Not Designated as Hedging Instrument

Not Designated as Hedging Instrument

Not Designated as Hedging Instrument

Not Designated as Hedging Instrument

Not Designated as Hedging Instrument

Cash Flow Hedging

SIFMA

Purchased Credit-Impaired Loans

Non-performing

USD ($)

USD ($)

EUR (€)

Unconsolidated Joint Ventures

Unconsolidated Joint Ventures

Unconsolidated Joint Ventures

EUR (€)

EUR (€)

Interest rate swaps not designated as hedging instruments

Interest rate swaps not designated as hedging instruments

Interest rate swaps not designated as hedging instruments

Other loss, net

Other loss, net

Other loss, net

Designated as Hedging Instrument

Not Designated as Hedging Instrument

Not Designated as Hedging Instrument

Office and Retail Building

USD ($)

EUR (€)

USD ($)

USD ($)

USD ($)

EUR (€)

Interest rate swaps not designated as hedging instruments

Interest rate swaps not designated as hedging instruments

Interest rate swaps not designated as hedging instruments

Interest rate cap designated as a hedging instrument

Interest rate swaps not designated as hedging instruments

Other loss, net

Purchased Credit-Impaired Loans

Number_of_Derivative

Interest_Rate_Swap

USD ($)

USD ($)

USD ($)

USD ($)

Interest rate swaps not designated as hedging instruments

SecurityLoan

USD ($)

Derivative Instruments, Gain (Loss) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investments in unconsolidated joint ventures

$1,369,529,000

$877,081,000

$443,500,000

$459,010,000

$436,188,000

€ 31,300,000

$228,400,000

€ 166,200,000

$41,300,000

'

'

'

'

'

'

'

'

'

'

'

'

Notional amount

'

'

'

'

'

'

'

'

'

75,500,000

50,000,000

'

'

79,500,000

'

'

'

57,500,000

'

'

'

One-month LIBOR rate cap

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.50%

'

'

'

Number of loans acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3

Number of interest rate swaps acquired

'

'

'

'

'

'

'

'

'

'

'

'

2

2

'

'

'

'

'

'

'

Lower range of interest rate swap (in percent)

'

'

'

'

'

'

'

'

'

'

'

'

4.10%

4.10%

'

'

'

'

'

'

'

Higher range of interest rate swap (in percent)

'

'

'

'

'

'

'

'

'

'

'

'

4.24%

4.24%

'

'

'

'

'

'

'

Cost of acquired swaps

3,108,000

760,000

'

'

'

'

'

'

'

'

'

'

2,800,000

'

'

'

'

'

'

'

'

Number of interest rate swap settled

'

'

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

Settlement amount on interest rate swap

'

'

'

'

'

'

'

'

'

'

'

1,700,000

'

'

'

'

'

'

'

'

'

Unrealized gain (loss) on derivatives

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-112,000

-734,000

-682,000

'

'

18,000

'

Description of variable rate basis

'Securities Industry and Financial Markets Association (“SIFMA”) Municipal Swap Index

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Basis spread on variable rate (in percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.25%

'

'

Derivative variable interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.31%

'

'

Minimum threshold of derivative liabilities require cash deposit

100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deposits related to agreements included in other assets

$0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivatives_and_Hedging_Fair_V

Derivatives and Hedging - Fair Value of Derivative Instruments (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Other Assets	'	'
Derivatives, Fair Value [Line Items]	'	'
Foreign exchange contracts designated as hedging instruments included in other assets	$3,108	$760
Other Assets | Interest rate cap designated as a hedging instrument | Designated as Hedging Instrument	'	'
Derivatives, Fair Value [Line Items]	'	'
Foreign exchange contracts designated as hedging instruments included in other assets	11	0
Other Assets | Interest rate swaps not designated as hedging instruments | Not Designated as Hedging Instrument	'	'
Derivatives, Fair Value [Line Items]	'	'
Foreign exchange contracts designated as hedging instruments included in other assets	971	0
Other Assets | Foreign exchange contracts designated as hedging instruments | Designated as Hedging Instrument	'	'
Derivatives, Fair Value [Line Items]	'	'
Foreign exchange contracts designated as hedging instruments included in other assets	2,126	760
Accounts Payable and Accrued Liabilities	'	'
Derivatives, Fair Value [Line Items]	'	'
Foreign exchange contracts designated as hedging instruments and embedded derivative liability included in accrued and other liabilities	8,456	4,191
Accounts Payable and Accrued Liabilities | Foreign exchange contracts designated as hedging instruments | Designated as Hedging Instrument	'	'
Derivatives, Fair Value [Line Items]	'	'
Foreign exchange contracts designated as hedging instruments and embedded derivative liability included in accrued and other liabilities	5,504	293
Accounts Payable and Accrued Liabilities | Embedded Derivative | Not Designated as Hedging Instrument	'	'
Derivatives, Fair Value [Line Items]	'	'
Foreign exchange contracts designated as hedging instruments and embedded derivative liability included in accrued and other liabilities	$2,952	$3,898

Fair_Value_of_Assets_and_Liabi

- Fair Value of Assets and Liabilities (Details) (Fair Value Measurements Recurring, Level 2, USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Beneficial interests in debt securities	$30,834	$32,055
Foreign exchange contracts	2,126	760
Interest Rate Derivative Assets, at Fair Value	982	0
Total fair value of assets	33,942	32,815
Foreign exchange contracts	5,504	293
Total fair value of liabilities	8,456	4,191
Embedded Derivative	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Embedded derivative liability associated with beneficial interests in debt securities	$2,952	$3,898

Fair_Value_Measurements_Estima

Fair Value Measurements - Estimated Fair Values and Carrying Values of Assets and Liabilities (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Fair Value Disclosures [Abstract]	'	'	'
Impairment of financial instruments held at cost	$0	$0	$0
Level 1	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Investments in unconsolidated joint ventures	0	0	'
Loans held for investment	0	0	'
Level 1 | Line of Credit	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Line of credit	0	0	'
Level 1 | Secured Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	0	0	'
Level 1 | Convertible Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	208,000,000	'	'
Level 2	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Investments in unconsolidated joint ventures	5,953,000	20,667,000	'
Loans held for investment	0	0	'
Level 2 | Line of Credit	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Line of credit	138,500,000	0	'
Level 2 | Secured Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	0	0	'
Level 2 | Convertible Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	0	'	'
Level 3	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Investments in unconsolidated joint ventures	1,524,621,000	910,450,000	'
Loans held for investment	1,034,600,000	335,734,000	'
Level 3 | Line of Credit	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Line of credit	0	0	'
Level 3 | Secured Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	277,600,000	108,090,000	'
Level 3 | Convertible Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	0	'	'
Fair Value	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Investments in unconsolidated joint ventures	1,530,574,000	931,117,000	'
Loans held for investment	1,034,600,000	335,734,000	'
Fair Value | Line of Credit	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Line of credit	138,500,000	0	'
Fair Value | Secured Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	277,600,000	108,090,000	'
Fair Value | Convertible Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	208,000,000	'	'
Carrying Value	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Investments in unconsolidated joint ventures	1,369,529,000	877,081,000	'
Loans held for investment	1,028,654,000	333,569,000	'
Carrying Value | Line of Credit	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Line of credit	138,500,000	0	'
Carrying Value | Secured Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	277,607,000	108,167,000	'
Carrying Value | Convertible Debt	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Secured financing	$200,000,000	'	'

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

Nov. 30, 2011

Apr. 30, 2011

Dec. 31, 2010

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Jul. 31, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Nov. 30, 2013

Jan. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Aug. 31, 2011

Apr. 30, 2011

Dec. 31, 2010

Dec. 31, 2011

Dec. 31, 2013

31-May-13

Dec. 31, 2013

Series A Preferred Stock

Series A Preferred Stock

Series A Preferred Stock

Series A Preferred Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

May 2013 At-The-Market Stock Offering

May 2013 At-The-Market Stock Offering

Directors

Common Stock

Common Stock

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, shares authorized (in shares)

'

'

'

'

'

'

'

'

50,000,000

50,000,000

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, par value (in dollars per share)

'

'

'

'

'

'

'

'

$0.01

$0.01

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares authorized (in shares)

'

'

'

450,000,000

450,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, par value (in dollars per shares)

'

'

'

$0.01

$0.01

'

'

'

'

'

'

'

'

'

'

'

'

'

$0.01

'

'

Preferred stock, shares outstanding

'

'

'

'

'

'

'

'

10,080,000

10,080,000

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, shares issued

'

'

'

'

'

'

'

'

10,080,000

10,080,000

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, dividend percentage

'

'

'

'

8.50%

'

'

'

8.50%

8.50%

'

'

'

'

'

'

'

'

'

'

'

Underwritten public offering, shares

'

'

'

'

'

'

4,280,000

5,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from issuance of preferred Stock

'

'

'

$0

$246,559,000

$0

$106,000,000

$140,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock strip yield

'

'

'

'

'

'

8.30%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, liquidation preference (in dollars per share)

'

'

'

'

'

'

'

'

$25

$25

'

'

'

'

'

'

'

'

'

'

'

Redemption amount per share (in dollars per share)

'

'

'

'

'

'

'

'

$25

'

'

'

'

'

'

'

'

'

'

'

'

Redemption date

'

'

'

'

'

'

'

'

20-Mar-17

'

'

'

'

'

'

'

'

'

'

'

'

Minimum period of dividend defaults providing preferred stockholders to voting rights

'

'

'

'

'

'

'

'

'six or more quarterly periods

'

'

'

'

'

'

'

'

'

'

'

'

Number of directors vote entitles

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

Minimum voting percentage providing preferred stockholders to voting rights

'

'

'

'

'

'

'

'

67.00%

'

'

'

'

'

'

'

'

'

'

'

'

At-the-market stock offering program authorized amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

200,000,000

'

At-the-market stock offering program maximum commission percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.00%

'

Shares issued (in shares)

'

'

'

'

'

'

'

'

'

'

10,000,000

11,500,000

11,500,000

8,050,000

'

15,350,000

2,750,000

'

'

'

1,901,755

Proceeds from offerings net of discounts and commissions

'

'

'

475,190,000

371,002,000

272,261,000

'

'

'

'

201,758,000

[1]

232,020,000

[1]

221,348,000

[1]

148,969,000

[1]

'

271,707,000

[1]

'

'

'

'

40,765,000

[1]

Anti-dilution purchase price adjustment, shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

175,000

'

'

'

'

'

Common stock offering, average price per share

'

'

'

'

'

'

'

'

'

'

$20.21

$20.20

$19.29

$18.53

'

$18.50

$20.25

'

'

'

$21.65

Proceeds from issuance of private placement

'

'

55,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payment of offering costs

'

162,500

'

944,000

922,000

554,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Anti-dilution purchase price adjustment

'

3,400,000

'

'

'

162,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance of common stock for incentive fees

287,500

'

'

'

1,197,000

88,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance of common stock for incentive fees, Shares

'

'

'

0

65,703

5,989

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares acquired under the DRIP plan from the company in the form of new issuances (in shares)

'

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock repurchase program, authorized amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50,000,000

'

'

'

'

'

'

Common stock repurchases, shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

580,600

'

'

'

Common stock repurchases, value

'

'

'

'

'

$8,654,000

'

'

'

'

'

'

'

'

'

'

'

$8,700,000

'

'

'

Weighted average cost per share (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$14.90

'

'

'

[1]

Net of underwriting discounts and commissions and offering costs payable by the Company

Stockholders_Equity_Common_Sto

Stockholders' Equity - Common Stock Offerings (Details) (USD $)

12 Months Ended

1 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Nov. 30, 2013

Jan. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Apr. 30, 2011

Dec. 31, 2010

Dec. 31, 2013

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

May 2013 At-The-Market Stock Offering

Common Stock

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

Common stock offering ,shares

'

'

'

10,000,000

11,500,000

11,500,000

8,050,000

15,350,000

2,750,000

1,901,755

Common stock offering, average price per share

'

'

'

$20.21

$20.20

$19.29

$18.53

$18.50

$20.25

$21.65

Proceeds from issuance of common stock, net

$475,190

$371,002

$272,261

$201,758

[1]

$232,020

[1]

$221,348

[1]

$148,969

[1]

$271,707

[1]

'

$40,765

[1]

[1]

Net of underwriting discounts and commissions and offering costs payable by the Company

Stockholders_Equity_Components

Stockholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) Attributable to Stockholders (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Accumulated Other Comprehensive Income (Loss) [Roll Forward]	'	'	'
Accumulated other comprehensive income (loss), beginning balance	$5,184	($2,330)	$936
Other comprehensive (loss) income before reclassifications	10,353	7,130	-2,366
Amounts reclassified from accumulated other comprehensive income	-12,944	384	-900
Net other comprehensive (loss) income	-2,591	7,514	-3,266
Accumulated other comprehensive income (loss), ending period	2,593	5,184	-2,330
Equity in AOCI of Unconsolidated Joint Ventures	'	'	'
Accumulated Other Comprehensive Income (Loss) [Roll Forward]	'	'	'
Accumulated other comprehensive income (loss), beginning balance	6,729	-406	1,410
Other comprehensive (loss) income before reclassifications	9,787	7,135	-1,010
Amounts reclassified from accumulated other comprehensive income	-12,895	0	-806
Net other comprehensive (loss) income	-3,108	7,135	-1,816
Accumulated other comprehensive income (loss), ending period	3,621	6,729	-406
Unrealized Gain on Beneficial Interests in Debt Securities	'	'	'
Accumulated Other Comprehensive Income (Loss) [Roll Forward]	'	'	'
Accumulated other comprehensive income (loss), beginning balance	877	611	0
Other comprehensive (loss) income before reclassifications	-552	266	611
Amounts reclassified from accumulated other comprehensive income	0	0	0
Net other comprehensive (loss) income	-552	266	611
Accumulated other comprehensive income (loss), ending period	325	877	611
Unrealized Gain/Loss on Fair Value of Net Investment Hedges	'	'	'
Accumulated Other Comprehensive Income (Loss) [Roll Forward]	'	'	'
Accumulated other comprehensive income (loss), beginning balance	0	0	0
Other comprehensive (loss) income before reclassifications	-19	0	0
Amounts reclassified from accumulated other comprehensive income	0	0	0
Net other comprehensive (loss) income	-19	0	0
Accumulated other comprehensive income (loss), ending period	-19	0	0
Foreign Currency Translation Gain/Loss	'	'	'
Accumulated Other Comprehensive Income (Loss) [Roll Forward]	'	'	'
Accumulated other comprehensive income (loss), beginning balance	-3,067	-4,328	-1,075
Other comprehensive (loss) income before reclassifications	4,983	905	-3,159
Amounts reclassified from accumulated other comprehensive income	-67	356	-94
Net other comprehensive (loss) income	4,916	1,261	-3,253
Accumulated other comprehensive income (loss), ending period	1,849	-3,067	-4,328
Net Investment Hedging [Member]	'	'	'
Accumulated Other Comprehensive Income (Loss) [Roll Forward]	'	'	'
Accumulated other comprehensive income (loss), beginning balance	645	1,793	601
Other comprehensive (loss) income before reclassifications	-3,846	-1,176	1,192
Amounts reclassified from accumulated other comprehensive income	18	28	0
Net other comprehensive (loss) income	-3,828	-1,148	1,192
Accumulated other comprehensive income (loss), ending period	($3,183)	$645	$1,793

Stockholders_Equity_Reclassifi

Stockholders' Equity - Reclassification Out of Accumulated Other Comprehensive Income (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Equity in income of unconsolidated joint ventures	'	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'
Equity in realized gain on sale of marketable securities of unconsolidated joint ventures	$12,895	$0	$806
Other loss, net	'	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'
Net settlement loss on derivative instruments designated as net investment hedges	-18	-28	0
Realized foreign exchange gain (loss)	$67	($356)	$94

Earnings_per_Share_Reconciles_

Earnings per Share Reconciles Numerator and Denominator of Basic and Diluted per-Share (Details) (USD $)

1 Months Ended

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Earnings Per Share [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average dilutive common share

'

'

'

'

'

'

'

'

'

6,154,100

'

'

Numerator:

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss)

'

$39,204

$33,963

$30,762

$21,994

$21,145

$17,728

$16,555

$12,777

$125,923

$68,205

$43,364

Net income attributable to noncontrolling interest

'

-8,946

-7,514

-5,111

-2,587

-2,261

-2,170

-1,454

-309

-24,158

-6,194

-1,104

Net income (loss) attributable to Colony Financial, Inc.

-542

30,258

26,449

25,651

19,407

18,884

15,558

15,101

12,468

101,765

62,011

42,260

Preferred dividends

'

-5,355

-5,355

-5,355

-5,355

-5,355

-5,102

-3,082

-376

-21,420

-13,915

0

Net income attributable to common stockholders

'

24,903

21,094

20,296

14,052

13,529

10,456

12,019

12,092

80,345

48,096

42,260

Net income allocated to participating securities (nonvested shares)

'

'

'

'

'

'

'

'

'

-725

-476

-8

Numerator for basic and diluted net income allocated to common stockholders

'

'

'

'

'

'

'

'

'

79,620

47,620

42,252

Interest expense attributable to convertible senior notes

'

'

'

'

'

'

'

'

'

0

0

0

Numerator for diluted net income allocated to common stockholders

'

'

'

'

'

'

'

'

'

$79,620

$47,620

$42,252

Denominator:

'

'

'

'

'

'

'

'

'

'

'

'

Basic weighted average number of common shares outstanding (in shares)

'

'

'

'

'

'

'

'

'

66,181,700

35,925,600

28,732,200

Weighted average effect of dilutive shares

'

'

'

'

'

'

'

'

'

0

[1]

17,600

[1]

261,500

[1]

Diluted weighted average number of common shares outstanding (in shares)

'

'

'

'

'

'

'

'

'

66,181,700

35,943,200

28,993,700

Earnings per share:

'

'

'

'

'

'

'

'

'

'

'

'

Net income attributable to common stockholders per share-basic (in dollars per share)

'

$0.34

$0.32

$0.31

$0.22

$0.31

$0.30

$0.36

$0.37

$1.20

$1.33

$1.47

Net income attributable to common stockholders per share-diluted (in dollars per share)

'

$0.34

$0.32

$0.31

$0.22

$0.31

$0.30

$0.36

$0.37

$1.20

$1.32

$1.46

[1]

For the year ended December 31, 2013, excluded from the calculation of diluted income per share are 6,154,100 weighted average dilutive common share equivalents which represent the assumed dilutive effect of the Convertible Senior Notes as the effect of their inclusion would be antidilutive. For the years ended December 31, 2012 and 2011, weighted average dilutive shares represent the effect of shares of common stock issuable to the Manager for incentive fees due for the period. For the year ended December 31, 2011, weighted average dilutive shares also include the effect of shares of common stock issuable for reimbursement of the Manager’s partial payment of underwriting discounts and commissions incurred in connection with the Company’s IPO (see Note 12).

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)

0 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

Sep. 29, 2009

Nov. 30, 2011

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Related Party Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Expiration of initial term of management agreement

'

'

'

'

'

'

'

'

'

'

29-Sep-12

'

'

Renewal of management agreement

'

'

'

'

'

'

'

'

'

'

'1 year

'

'

Minimum management agreement termination

'

'

'

'

'

'

'

'

'

'

'180 days

'

'

Base management fee as a percentage of stockholders' equity

'

'

'

'

'

'

'

'

'

'

1.50%

'

'

Incentive fee calculation, multiplication factor (as a percent)

'

'

'

'

'

'

'

'

'

'

20.00%

'

'

Incentive fee calculation, stock value factor (as a percent)

'

'

'

'

'

'

'

'

'

'

8.00%

'

'

Shares issued to settle previously accrued incentive fees

'

'

'

'

'

'

'

'

'

'

0

65,703

5,989

Asset management fees and expense reimbursements from an unconsolidated joint venture for costs incurred in managing its assets not covered by fees charged

'

'

$283,000

$296,000

$317,000

$371,000

$458,000

$396,000

$569,000

$550,000

$1,267,000

$1,973,000

$1,974,000

Reimbursements to affiliates for allocated costs

'

'

'

'

'

'

'

'

'

'

800,000

1,100,000

1,200,000

Underwriting discounts and commissions

5,750,000

'

'

'

'

'

'

'

'

'

'

'

'

Four quarter period earnings performance threshold

8.00%

'

'

'

'

'

'

'

'

'

'

'

'

Reimbursement of deferred underwriting discounts and commissions to manager

'

5,750,000

'

'

'

'

'

'

'

'

'

'

5,750,000

Reimbursement of deferred underwriting discounts and commissions to Manager, shares

'

287,500

'

'

'

'

'

'

'

'

'

'

'

Minimum

'

'

'

'

'

'

'

'

'

'

'

'

'

Related Party Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of capital to be funded by co-investment vehicles in assets secured by U.S. collateral to qualify as a REIT for U.S. federal income tax purposes and to exempt from registration under the Investment Company Act of 1940

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

Percentage of capital to be funded by co-investment vehicles in assets secured by non-U.S. collateral to qualify as a REIT for U.S. federal income tax purposes and to exempt from registration under the Investment Company Act of 1940

'

'

'

'

'

'

'

'

'

'

33.33%

'

'

AMC Milestone North and Milestone West

'

'

'

'

'

'

'

'

'

'

'

'

'

Related Party Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of joint ventures

'

'

2

'

'

'

'

'

'

'

2

'

'

Asset management fees and expense reimbursements from an unconsolidated joint venture for costs incurred in managing its assets not covered by fees charged

'

'

'

'

'

'

'

'

'

'

$1,300,000

$2,000,000

$2,000,000

Annual payment to asset management fee on aggregated UPB of certain loan portfolios

'

'

'

'

'

'

'

'

'

'

0.50%

'

'

Related_Party_Transactions_Sum

Related Party Transactions - Summary of Amounts Incurred and Payable to Manager or its Affiliates (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Related Party Transaction [Line Items]	'	'	'
Allocated and direct investment-related expenses	$1,771	$1,657	$1,719
Allocated and direct administrative expenses	3,073	2,460	1,592
Manager and its affiliates	'	'	'
Related Party Transaction [Line Items]	'	'	'
Base management fees	22,265	12,332	8,128
Incentive fees	0	936	349
Compensation pursuant to secondment agreement	1,286	1,207	1,248
Allocated and direct investment-related expenses	1,771	1,657	1,719
Allocated and direct administrative expenses	1,787	1,253	344
Total	$27,109	$17,385	$11,788

Related_Party_Transactions_Sum1

Related Party Transactions - Summary of Amounts Due to Manager or its Affiliates (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Related Party Transaction [Line Items]	'	'
Total amounts due to the manager or its affiliates	$7,986	$4,984
Base management fees	'	'
Related Party Transaction [Line Items]	'	'
Total amounts due to the manager or its affiliates	6,045	3,932
Secondment reimbursement	'	'
Related Party Transaction [Line Items]	'	'
Total amounts due to the manager or its affiliates	895	844
Reimbursement of direct and allocated administrative and investment costs	'	'
Related Party Transaction [Line Items]	'	'
Total amounts due to the manager or its affiliates	$1,046	$208

ShareBased_Payments_Details

Share-Based Payments (Details) (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013
Equity Incentive Plan	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Reserved number of shares (in shares)	1,600,000
Vesting period	'3 years
Restricted Stock	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Aggregate unrecognized compensation cost related to restricted stock granted	6.1
Weighted average period of expected cost	'20 months
Restricted Stock | Director Stock Plan	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Reserved number of shares (in shares)	100,000
Vesting period	'1 year

Nonvested_Shares_Under_Directo

- Nonvested Shares Under Director Stock Plan and Equity Incentive Plan (Details) (USD $)	12 Months Ended
	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Weighted Average Grant Date Fair Value [Roll Forward]	'		'		'
Granted	$21.94	[1]	$17.79	[1]	$17.26	[1]
Restricted Stock	'		'		'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'		'		'
Nonvested shares at December 31, 2012	522,195		'		'
Granted	6,837		'		'
Vested	-8,274		'		'
Forfeited	-7,990		'		'
Nonvested shares at December 31, 2013	512,768		'		'
Weighted Average Grant Date Fair Value [Roll Forward]	'		'		'
Nonvested shares at December 31, 2012	$18.17		'		'
Granted	$21.94		'		'
Vested	$16.32		'		'
Forfeited	$16.16		'		'
Nonvested shares at December 31, 2013	$18.28		'		'
Non-Executive Director | Restricted Stock	'		'		'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'		'		'
Nonvested shares at December 31, 2012	8,274		'		'
Granted	6,837		'		'
Vested	-8,274		'		'
Forfeited	0		'		'
Nonvested shares at December 31, 2013	6,837		'		'
Weighted Average Grant Date Fair Value [Roll Forward]	'		'		'
Granted	$21.94		'		'
Employee | Restricted Stock	'		'		'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'		'		'
Nonvested shares at December 31, 2012	17,172		'		'
Granted	0		'		'
Vested	0		'		'
Forfeited	0		'		'
Nonvested shares at December 31, 2013	17,172		'		'
Employees of Manager | Restricted Stock	'		'		'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'		'		'
Nonvested shares at December 31, 2012	496,749		'		'
Granted	0		'		'
Vested	0		'		'
Forfeited	-7,990		'		'
Nonvested shares at December 31, 2013	488,759		'		'
[1]	Based on the quoted closing share price of the Company's common stock on the NYSE on grant date or vesting date.

ShareBased_Payments_Components

Share-Based Payments - Components of Share-Based Compensation (Details) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'		'		'
Total fair value of share vested	$182	[1]	$6,079	[1]	$82	[1]
Weighted average grant date fair value per share for shares granted during the period	$21.94	[1]	$17.79	[1]	$17.26	[1]
General and Administrative Expense	'		'		'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'		'		'
Share-based compensation included in administrative expenses	285		419		116
Management Fees	'		'		'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'		'		'
Share-based compensation included in management fees	$3,998		$5,714		$0
[1]	Based on the quoted closing share price of the Company's common stock on the NYSE on grant date or vesting date.

Income_Taxes_Income_Tax_Provis

Income Taxes - Income Tax Provision (Benefit) (Detail) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Current	'	'	'	'	'	'	'	'	'	'	'
Federal	'	'	'	'	'	'	'	'	$1,470	$2,242	$1,444
State	'	'	'	'	'	'	'	'	671	669	252
Total current tax provision	'	'	'	'	'	'	'	'	2,141	2,911	1,696
Deferred	'	'	'	'	'	'	'	'	'	'	'
Federal	'	'	'	'	'	'	'	'	-1,115	-661	-431
State	'	'	'	'	'	'	'	'	-367	-85	-74
Total deferred tax (benefit) provision	'	'	'	'	'	'	'	'	-1,482	-746	-505
Total income tax provision	$79	($14)	$242	$352	$764	$596	$441	$364	$659	$2,165	$1,191

Income_Taxes_Dividends_Declare

Income Taxes - Dividends Declared (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Common Stock:	'	'	'
Ordinary income per share	$0.98	$0.83	$1
Long-term capital gains per share	$0.42	$0.61	$0.31
Total dividends declared per share	$1.40	$1.44	$1.31
Series A Preferred Stock:	'	'	'
Ordinary income per share	$1.48	$1.01	$0
Long-term capital gains per share	$0.65	$0.74	$0
Total dividends declared per share	$2.13	$1.75	$0

Income_Taxes_Details

Income Taxes (Details) (USD $)	Dec. 31, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified
Income Tax Disclosure [Abstract]	'		'
Deferred tax assets, net of allowances	$2,391	[1]	$1,176
[1]	Deferred tax assets are shown net of allowances of $356,000 and $300,000 as of December 31, 2013 and 2012.

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	Dec. 31, 2013
In Millions, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]	'
Share of commitments needed to be funded by the joint ventures	$8.50
Unfunded lending commitments	$17.30

Segment_Information_Summary_of

Segment Information - Summary of Operating Results for Each of Reportable Operating Segments (Details) (USD $)

1 Months Ended

3 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Income:

'

'

'

'

'

'

'

'

'

'

'

'

Equity in income (loss) of unconsolidated joint ventures

'

$30,862

$25,052

$22,992

$21,802

$21,464

$15,838

$15,994

$15,441

$100,708

$68,737

$46,720

Interest income

'

26,486

22,122

17,455

11,412

10,752

10,816

9,051

5,826

77,475

36,445

16,775

Rental income and tenant reimbursements

'

789

0

0

0

0

0

0

0

789

0

0

Other income from affiliates

'

283

296

317

371

458

396

569

550

1,267

1,973

1,974

Total income

'

58,420

47,470

40,764

33,585

32,674

27,050

25,614

21,817

180,239

107,155

65,469

Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

Management fees

'

6,951

6,520

6,422

6,370

6,706

3,812

3,944

4,520

26,263

18,982

8,477

Investment and servicing expenses

'

'

'

'

'

'

'

'

'

3,228

2,977

2,793

Interest expense

'

'

'

'

'

'

'

'

'

18,838

8,248

3,011

Property operating expenses

'

'

'

'

'

'

'

'

'

197

0

0

Administrative expenses

'

'

'

'

'

'

'

'

'

7,548

6,346

5,780

Depreciation and amortization

'

'

'

'

'

'

'

'

'

310

0

0

Transaction costs

'

'

'

'

'

'

'

'

'

1,807

0

0

Total expenses

'

19,118

14,381

13,516

11,176

11,368

8,395

8,342

8,448

58,191

36,553

20,061

Realized gain on resolution of loans receivable

'

'

'

'

'

'

'

'

'

4,578

808

0

Other loss, net

'

-19

860

3,756

-63

603

-331

-276

-228

-44

-1,040

-853

Income (loss) before income taxes

'

'

'

'

'

'

'

'

'

126,582

70,370

44,555

Income tax provision

'

79

-14

242

352

764

596

441

364

659

2,165

1,191

Net income (loss)

'

39,204

33,963

30,762

21,994

21,145

17,728

16,555

12,777

125,923

68,205

43,364

Net income attributable to noncontrolling interests

'

8,946

7,514

5,111

2,587

2,261

2,170

1,454

309

24,158

6,194

1,104

Net income (loss) attributable to Colony Financial, Inc.

-542

30,258

26,449

25,651

19,407

18,884

15,558

15,101

12,468

101,765

62,011

42,260

Operating Segments | Real estate debt investments

'

'

'

'

'

'

'

'

'

'

'

'

Income:

'

'

'

'

'

'

'

'

'

'

'

'

Equity in income (loss) of unconsolidated joint ventures

'

'

'

'

'

'

'

'

'

89,553

60,313

38,602

Interest income

'

'

'

'

'

'

'

'

'

77,193

36,275

16,463

Rental income and tenant reimbursements

'

'

'

'

'

'

'

'

'

0

'

'

Other income from affiliates

'

'

'

'

'

'

'

'

'

1,267

1,973

1,974

Total income

'

'

'

'

'

'

'

'

'

168,013

98,561

57,039

Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

Management fees

'

'

'

'

'

'

'

'

'

0

0

0

Investment and servicing expenses

'

'

'

'

'

'

'

'

'

2,247

2,457

2,117

Interest expense

'

'

'

'

'

'

'

'

'

5,295

4,409

702

Property operating expenses

'

'

'

'

'

'

'

'

'

0

'

'

Administrative expenses

'

'

'

'

'

'

'

'

'

178

0

0

Depreciation and amortization

'

'

'

'

'

'

'

'

'

0

'

'

Transaction costs

'

'

'

'

'

'

'

'

'

1,210

'

'

Total expenses

'

'

'

'

'

'

'

'

'

8,930

6,866

2,819

Realized gain on resolution of loans receivable

'

'

'

'

'

'

'

'

'

4,578

808

'

Other loss, net

'

'

'

'

'

'

'

'

'

-44

-1,040

-853

Income (loss) before income taxes

'

'

'

'

'

'

'

'

'

163,617

91,463

53,367

Income tax provision

'

'

'

'

'

'

'

'

'

0

0

0

Net income (loss)

'

'

'

'

'

'

'

'

'

163,617

91,463

53,367

Net income attributable to noncontrolling interests

'

'

'

'

'

'

'

'

'

22,892

6,194

1,104

Net income (loss) attributable to Colony Financial, Inc.

'

'

'

'

'

'

'

'

'

140,725

85,269

52,263

Operating Segments | Single-family residential rentals

'

'

'

'

'

'

'

'

'

'

'

'

Income:

'

'

'

'

'

'

'

'

'

'

'

'

Equity in income (loss) of unconsolidated joint ventures

'

'

'

'

'

'

'

'

'

-8,013

-2,126

0

Interest income

'

'

'

'

'

'

'

'

'

0

0

0

Rental income and tenant reimbursements

'

'

'

'

'

'

'

'

'

0

'

'

Other income from affiliates

'

'

'

'

'

'

'

'

'

0

0

0

Total income

'

'

'

'

'

'

'

'

'

-8,013

-2,126

0

Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

Management fees

'

'

'

'

'

'

'

'

'

0

0

0

Investment and servicing expenses

'

'

'

'

'

'

'

'

'

0

0

0

Interest expense

'

'

'

'

'

'

'

'

'

0

0

0

Property operating expenses

'

'

'

'

'

'

'

'

'

0

'

'

Administrative expenses

'

'

'

'

'

'

'

'

'

0

0

0

Depreciation and amortization

'

'

'

'

'

'

'

'

'

0

'

'

Transaction costs

'

'

'

'

'

'

'

'

'

0

'

'

Total expenses

'

'

'

'

'

'

'

'

'

0

0

0

Realized gain on resolution of loans receivable

'

'

'

'

'

'

'

'

'

0

0

'

Other loss, net

'

'

'

'

'

'

'

'

'

0

0

0

Income (loss) before income taxes

'

'

'

'

'

'

'

'

'

-8,013

-2,126

0

Income tax provision

'

'

'

'

'

'

'

'

'

0

0

0

Net income (loss)

'

'

'

'

'

'

'

'

'

-8,013

-2,126

0

Net income attributable to noncontrolling interests

'

'

'

'

'

'

'

'

'

0

0

0

Net income (loss) attributable to Colony Financial, Inc.

'

'

'

'

'

'

'

'

'

-8,013

-2,126

0

Operating Segments | Other assets not allocated to segments

'

'

'

'

'

'

'

'

'

'

'

'

Income:

'

'

'

'

'

'

'

'

'

'

'

'

Equity in income (loss) of unconsolidated joint ventures

'

'

'

'

'

'

'

'

'

19,168

10,550

8,118

Interest income

'

'

'

'

'

'

'

'

'

0

0

0

Rental income and tenant reimbursements

'

'

'

'

'

'

'

'

'

789

'

'

Other income from affiliates

'

'

'

'

'

'

'

'

'

0

0

0

Total income

'

'

'

'

'

'

'

'

'

19,957

10,550

8,118

Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

Management fees

'

'

'

'

'

'

'

'

'

0

0

0

Investment and servicing expenses

'

'

'

'

'

'

'

'

'

26

22

0

Interest expense

'

'

'

'

'

'

'

'

'

227

0

0

Property operating expenses

'

'

'

'

'

'

'

'

'

197

'

'

Administrative expenses

'

'

'

'

'

'

'

'

'

0

0

0

Depreciation and amortization

'

'

'

'

'

'

'

'

'

310

'

'

Transaction costs

'

'

'

'

'

'

'

'

'

597

'

'

Total expenses

'

'

'

'

'

'

'

'

'

1,357

22

0

Realized gain on resolution of loans receivable

'

'

'

'

'

'

'

'

'

0

0

'

Other loss, net

'

'

'

'

'

'

'

'

'

0

0

0

Income (loss) before income taxes

'

'

'

'

'

'

'

'

'

18,600

10,528

8,118

Income tax provision

'

'

'

'

'

'

'

'

'

0

0

0

Net income (loss)

'

'

'

'

'

'

'

'

'

18,600

10,528

8,118

Net income attributable to noncontrolling interests

'

'

'

'

'

'

'

'

'

1,266

0

0

Net income (loss) attributable to Colony Financial, Inc.

'

'

'

'

'

'

'

'

'

17,334

10,528

8,118

Amounts Not Allocated to Segments

'

'

'

'

'

'

'

'

'

'

'

'

Income:

'

'

'

'

'

'

'

'

'

'

'

'

Equity in income (loss) of unconsolidated joint ventures

'

'

'

'

'

'

'

'

'

0

0

0

Interest income

'

'

'

'

'

'

'

'

'

282

170

312

Rental income and tenant reimbursements

'

'

'

'

'

'

'

'

'

0

'

'

Other income from affiliates

'

'

'

'

'

'

'

'

'

0

0

0

Total income

'

'

'

'

'

'

'

'

'

282

170

312

Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

Management fees

'

'

'

'

'

'

'

'

'

26,263

18,982

8,477

Investment and servicing expenses

'

'

'

'

'

'

'

'

'

955

498

676

Interest expense

'

'

'

'

'

'

'

'

'

13,316

3,839

2,309

Property operating expenses

'

'

'

'

'

'

'

'

'

0

'

'

Administrative expenses

'

'

'

'

'

'

'

'

'

7,370

6,346

5,780

Depreciation and amortization

'

'

'

'

'

'

'

'

'

0

'

'

Transaction costs

'

'

'

'

'

'

'

'

'

0

'

'

Total expenses

'

'

'

'

'

'

'

'

'

47,904

29,665

17,242

Other loss, net

'

'

'

'

'

'

'

'

'

0

0

0

Income (loss) before income taxes

'

'

'

'

'

'

'

'

'

-47,622

-29,495

-16,930

Income tax provision

'

'

'

'

'

'

'

'

'

659

2,165

1,191

Net income (loss)

'

'

'

'

'

'

'

'

'

-48,281

-31,660

-18,121

Net income attributable to noncontrolling interests

'

'

'

'

'

'

'

'

'

0

0

0

Net income (loss) attributable to Colony Financial, Inc.

'

'

'

'

'

'

'

'

'

($48,281)

($31,660)

($18,121)

Segment_Information_Assets_of_

Segment Information - Assets of Reportable Operating Segments (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets:	'	'
Total consolidated assets	$2,628,552	$1,435,567
Operating Segments | Real estate debt investments	'	'
Assets:	'	'
Total consolidated assets	1,707,228	939,448
Operating Segments | Single-family residential rentals	'	'
Assets:	'	'
Total consolidated assets	530,007	251,501
Operating Segments | Other Real Estate Equity Investments	'	'
Assets:	'	'
Total consolidated assets	344,244	70,496
Amounts Not Allocated to Segments	'	'
Assets:	'	'
Total consolidated assets	$47,073	$174,122

Selected_Quarterly_Financial_I2

Selected Quarterly Financial Information (Details) (USD $)	1 Months Ended	3 Months Ended								12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Selected Quarterly Financial Information [Abstract]	'	'	'	'	'	'	'	'	'	'	'	'
Equity in income (loss) of unconsolidated joint ventures	'	$30,862	$25,052	$22,992	$21,802	$21,464	$15,838	$15,994	$15,441	$100,708	$68,737	$46,720
Interest income	'	26,486	22,122	17,455	11,412	10,752	10,816	9,051	5,826	77,475	36,445	16,775
Rental income and tenant reimbursements	'	789	0	0	0	0	0	0	0	789	0	0
Other income from affiliates	'	283	296	317	371	458	396	569	550	1,267	1,973	1,974
Total income	'	58,420	47,470	40,764	33,585	32,674	27,050	25,614	21,817	180,239	107,155	65,469
Management fees	'	6,951	6,520	6,422	6,370	6,706	3,812	3,944	4,520	26,263	18,982	8,477
Other expenses	'	12,167	7,861	7,094	4,806	4,662	4,583	4,398	3,928	'	'	'
Total expenses	'	19,118	14,381	13,516	11,176	11,368	8,395	8,342	8,448	58,191	36,553	20,061
Other (loss) gain, net	'	-19	860	3,756	-63	603	-331	-276	-228	-44	-1,040	-853
Income tax provision (benefit)	'	79	-14	242	352	764	596	441	364	659	2,165	1,191
Net income (loss)	'	39,204	33,963	30,762	21,994	21,145	17,728	16,555	12,777	125,923	68,205	43,364
Net income attributable to noncontrolling interests	'	8,946	7,514	5,111	2,587	2,261	2,170	1,454	309	24,158	6,194	1,104
Net income (loss) attributable to Colony Financial, Inc.	-542	30,258	26,449	25,651	19,407	18,884	15,558	15,101	12,468	101,765	62,011	42,260
Preferred dividends	'	5,355	5,355	5,355	5,355	5,355	5,102	3,082	376	21,420	13,915	0
Net income attributable to common stockholders	'	$24,903	$21,094	$20,296	$14,052	$13,529	$10,456	$12,019	$12,092	$80,345	$48,096	$42,260
Basic (in dollars per share)	'	$0.34	$0.32	$0.31	$0.22	$0.31	$0.30	$0.36	$0.37	$1.20	$1.33	$1.47
Diluted (in dollars per share)	'	$0.34	$0.32	$0.31	$0.22	$0.31	$0.30	$0.36	$0.37	$1.20	$1.32	$1.46

Subsequent_Events_Details

Subsequent Events (Details) (USD $)

12 Months Ended

2 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

2 Months Ended

0 Months Ended

2 Months Ended

1 Months Ended

12 Months Ended

2 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Feb. 27, 2014

Nov. 30, 2013

Jan. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Apr. 30, 2011

Dec. 31, 2010

Dec. 31, 2013

Jan. 31, 2014

Dec. 31, 2013

Feb. 27, 2014

Jan. 28, 2014

Feb. 27, 2014

Feb. 27, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Feb. 27, 2014

Feb. 27, 2014

Feb. 27, 2014

Feb. 27, 2014

Dec. 31, 2013

Feb. 27, 2014

Subsequent Event

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Restricted Stock

Restricted Stock

May 2013 At-The-Market Stock Offering

May 2013 At-The-Market Stock Offering

Convertible Senior Note Due 2021

CLO Repurchase Facility

CLO Repurchase Facility

On Grant Date

Year One

Year Two

Year Three

LIBOR

Minimum

Minimum

Maximum

Loans Origination

Loans Origination

Investment

Subsequent Event

Common Stock

Common Stock

Convertible Debt

Subsequent Event

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

CLO Repurchase Facility

CLO Repurchase Facility

LIBOR

LIBOR

CLO Repurchase Facility

Subsequent Event

Subsequent Event

Investment

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

CLO Repurchase Facility

CLO Repurchase Facility

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Convertible senior notes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$230,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Net proceeds from issuance of convertible senior notes

194,000,000

0

0

'

'

'

'

'

'

'

'

'

'

'

223,900,000

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate on seller-provided secured financing (in percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.88%

'

'

'

'

'

'

'

'

'

'

'

'

Common stock offering ,shares

'

'

'

'

10,000,000

11,500,000

11,500,000

8,050,000

15,350,000

2,750,000

'

'

1,901,755

405,899

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from offerings net of discounts and commissions

475,190,000

371,002,000

272,261,000

'

201,758,000

[1]

232,020,000

[1]

221,348,000

[1]

148,969,000

[1]

271,707,000

[1]

'

'

'

40,765,000

[1]

8,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted shares of common stock awarded

'

'

'

'

'

'

'

'

'

'

6,837

500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vesting period

'

'

'

'

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Award vesting percentage over 3-year period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25.00%

25.00%

25.00%

25.00%

'

'

'

'

'

'

Maximum principal amount of repurchase facility

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

150,000,000

'

'

'

'

'

'

'

'

'

'

'

Variable rate basis

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'LIBOR

'

'

'

'

'

Interest rate for credit agreement (in percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.25%

2.50%

'

'

Repurchase facility terms (in years)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'2 years

'

'

'

'

Repurchase facility extension term (in years)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

'

'

'

Aggregate Investment

'

'

'

45,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of investments

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of real estate debt investment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4

'

'

'

'

'

'

'

'

'

'

Loan acquisitions and originations

$876,503,000

$204,298,000

$160,980,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$86,000,000

$69,100,000

[1]

Net of underwriting discounts and commissions and offering costs payable by the Company

Schedule_IVMortgage_Loans_on_R1

Schedule IV—Mortgage Loans on Real Estate (Details) (USD $)	12 Months Ended
	Dec. 31, 2013
Mortgage Loans on Real Estate [Line Items]	'
Credit available to borrower upon full payoff	$11,500,000
Prior Liens(1)	827,859,000	[1]
Principal	1,197,764,000
Carrying Amount	1,028,654,000
Assisted Living - Dallas, TX | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	3,207,000
Carrying Amount	3,002,000
Interest Rate	6.03%
Maturity Date	1-Nov-24
Assisted Living - Kennewick, WA | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	10,875,000
Carrying Amount	9,973,000
Interest Rate	6.07%
Maturity Date	1-Jan-17
Hospitality - HI/NY | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	38,097,000
Carrying Amount	37,785,000
Interest Rate	10.75%
Maturity Date	8-Sep-16
Hospitality - North America | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	150,867,000	[3]
Carrying Amount	126,288,000
Interest Rate	8.57%
Maturity Date	23-Jul-14
Independent Living - Florissant, MO | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	9,277,000
Carrying Amount	8,655,000
Interest Rate	5.95%
Maturity Date	1-Jun-16
Multifamily - Phoenix, AZ | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	6,858,000
Carrying Amount	6,590,000
Interest Rate	4.88%
Maturity Date	1-Sep-14
Multifamily - Phoenix, AZ | Subordinated Debt and Mezzanine	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	2,654,000
Carrying Amount	1,767,000
Interest Rate	5.60%
Maturity Date	1-Sep-14
Multifamily - Tucson, AZ | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	29,700,000
Carrying Amount	26,504,000
Interest Rate	5.98%
Maturity Date	1-May-37
Multifamily - Tucson, AZ | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	3,100,000
Carrying Amount	2,166,000
Interest Rate	6.09%
Maturity Date	1-Dec-32
Multifamily - El Cajon, CA | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	4,574,000
Carrying Amount	4,092,000
Interest Rate	3.09%
Maturity Date	1-Dec-15
Multifamily - Riverside, CA | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	7,677,000
Carrying Amount	7,189,000
Interest Rate	5.58%
Maturity Date	1-Dec-15
Multifamily - Branford, CT | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	18,000,000
Carrying Amount	16,416,000
Interest Rate	4.16%
Maturity Date	1-Jan-19
Multifamily - Gainesville, FL | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	7,101,000
Carrying Amount	6,680,000
Interest Rate	5.90%
Maturity Date	1-Jun-19
Multifamily - Jacksonville, FL | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	5,543,000
Carrying Amount	5,232,000
Interest Rate	6.08%
Maturity Date	1-Dec-15
Multifamily - Stockbridge, GA | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	6,360,000
Carrying Amount	6,074,000
Interest Rate	5.43%
Maturity Date	1-Apr-15
Multifamily - Niles, MI | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	1,224,000
Carrying Amount	1,198,000
Interest Rate	8.05%
Maturity Date	1-Nov-15
Multifamily - Gulfport, MS | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	9,500,000
Carrying Amount	9,417,000
Interest Rate	6.17%
Maturity Date	1-Jan-16
Multifamily - City Of Keene, NH | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	2,582,000
Carrying Amount	2,464,000
Interest Rate	6.63%
Maturity Date	1-Nov-23
Multifamily - City Of Keene, NH | Subordinated Debt and Mezzanine	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	1,300,000
Carrying Amount	1,235,000
Interest Rate	6.43%
Maturity Date	1-Nov-23
Multifamily - Orange, NJ | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	3,087,000
Carrying Amount	3,004,000
Interest Rate	6.40%
Maturity Date	1-Jul-34
Multifamily - Las Vegas, NV | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	8,683,000
Carrying Amount	8,266,000
Interest Rate	5.60%
Maturity Date	1-Dec-20
Multifamily - Bronx, NY | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	1,399,000
Carrying Amount	1,343,000
Interest Rate	5.19%
Maturity Date	1-Jan-15
Multifamily - Columbus, OH | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	5,599,000
Carrying Amount	4,943,000
Interest Rate	6.11%
Maturity Date	1-Aug-18
Multifamily - Collegeville, PA | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	11,000,000
Carrying Amount	9,949,000
Interest Rate	4.20%
Maturity Date	1-Sep-22
Multifamily - Charleston, SC | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	1,540,000
Carrying Amount	1,453,000
Interest Rate	6.11%
Maturity Date	1-Dec-20
Multifamily - Houston, TX | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	7,901,000
Carrying Amount	7,418,000
Interest Rate	5.20%
Maturity Date	1-Sep-15
Multifamily - Houston, TX | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	2,762,000
Carrying Amount	2,377,000
Interest Rate	4.66%
Maturity Date	1-Jul-17
Multifamily - Gillette, WY | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	18,166,000
Carrying Amount	16,916,000
Interest Rate	5.26%
Maturity Date	1-Apr-19
Office - Ann Arbor, MI | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	10,425,000
Carrying Amount	10,338,000
Interest Rate	7.17%
Maturity Date	1-Nov-15
Office - Madrid, Spain (5) | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1],[4]
Payment Terms(2)	'P&I	[2],[4]
Principal	91,972,000	[4]
Carrying Amount	55,979,000	[4]
Interest Rate	1.14%	[4]
Maturity Date	1-Aug-17	[4]
Office - Madrid, Spain (5) | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1],[4]
Payment Terms(2)	'P&I	[2],[4]
Principal	17,782,000	[4]
Carrying Amount	8,623,000	[4]
Interest Rate	1.67%	[4],[5]
Maturity Date	26-Feb-15	[4]
Office - Chattanooga, TN | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	11,300,000
Carrying Amount	11,211,000
Interest Rate	6.67%
Maturity Date	1-Jan-17
Other - Elkridge, MD | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	11,550,000
Carrying Amount	11,444,000
Interest Rate	7.42%
Maturity Date	1-Oct-16
Retail - Jonesboro, AR | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	11,200,000
Carrying Amount	11,110,000
Interest Rate	7.42%
Maturity Date	12-Nov-15
Retail - Leominster, MA | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'I/O	[2]
Principal	32,650,000
Carrying Amount	32,290,000
Interest Rate	6.17%
Maturity Date	1-Jun-16
Retail - Murcia, Spain (5) | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2],[4]
Principal	183,727,000
Carrying Amount	105,397,000
Interest Rate	1.39%
Maturity Date	4-Aug-16
Student Housing - Georgetown , MI | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	4,412,000
Carrying Amount	3,921,000
Interest Rate	3.49%
Maturity Date	1-Mar-16
Student Housing - Beaumont, TX | First Mortgage	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	0	[1]
Payment Terms(2)	'P&I	[2]
Principal	9,135,000
Carrying Amount	8,302,000
Interest Rate	3.46%
Maturity Date	1-Oct-15
Healthcare - CA | Subordinated Debt and Mezzanine	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	32,607,000	[1]
Payment Terms(2)	'P&I	[2]
Principal	89,669,000
Carrying Amount	89,064,000
Interest Rate	9.32%
Maturity Date	31-Dec-17
Hospitality - North America | Subordinated Debt and Mezzanine	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	770,000,000	[1]
Payment Terms(2)	'I/O	[2]
Principal	330,909,000
Carrying Amount	328,185,000
Interest Rate	10.97%	[5]
Maturity Date	1-Jun-16
Mixed use - New York, NY | Subordinated Debt and Mezzanine	'
Mortgage Loans on Real Estate [Line Items]	'
Prior Liens(1)	25,252,000	[1]
Payment Terms(2)	'P&I	[2]
Principal	14,400,000
Carrying Amount	$14,394,000
Interest Rate	20.92%
Maturity Date	31-Mar-16
[1]	Prior liens represent loan amounts owned by third parties that are senior to the Company’s subordinated or mezzanine positions and are approximate.
[2]	P&I =rincipal and interest; I/O =nterest only
[3]	Includes $11.5 million credit available to borrower upon full payoff
[4]	Loans denominated in Euro are translated at the spot rate of exchange as of December 31, 2013.
[5]	The loan is composed of multiple promissory notes. The interest rate is a blended weighted average rate calculated based upon the outstanding principal and interest rate on each note.