| Carrying amounts and fair values of financial instruments |
As of March 31, 2014 and December 31, 2013, the carrying amounts and fair values of our financial instruments were as follows: | | | | | | | | | | | | | | | | | | March 31, 2014 | | December 31, 2013 | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | | (In thousands) | Assets: | | | | | | | | Cash and cash equivalents | $ | 59,791 |
| | $ | 59,791 |
| | $ | 94,816 |
| | $ | 94,816 |
| Secured loans receivable, net | 354,219 |
| | 353,117 |
| | 354,775 |
| | 355,223 |
| Unsecured loans receivable, net | 39,805 |
| | 41,939 |
| | 38,512 |
| | 40,473 |
| Marketable debt securities | 48,053 |
| | 48,053 |
| | 21,454 |
| | 21,454 |
| Liabilities: | | | | | | | | Senior notes payable and other debt, gross | 9,442,636 |
| | 9,655,319 |
| | 9,320,477 |
| | 9,405,259 |
| Derivative instruments and other liabilities | 10,744 |
| | 10,744 |
| | 11,105 |
| | 11,105 |
| Redeemable OP unitholder interests | 117,261 |
| | 117,261 |
| | 111,607 |
| | 111,607 |
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