| Carrying Amounts and Fair Values of Financial Instruments |
As of June 30, 2015 and December 31, 2014, the carrying amounts and fair values of our financial instruments were as follows: | | | | | | | | | | | | | | | | | | June 30, 2015 | | December 31, 2014 | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | | (In thousands) | Assets: | | | | | | | | Cash and cash equivalents | $ | 60,532 |
| | $ | 60,532 |
| | $ | 55,348 |
| | $ | 55,348 |
| Secured loans receivable, net | 726,183 |
| | 723,423 |
| | 766,641 |
| | 774,789 |
| Unsecured loans receivable, net | 35,408 |
| | 36,843 |
| | 21,862 |
| | 23,164 |
| Government-sponsored pooled loan investments | 63,225 |
| | 63,225 |
| | 63,115 |
| | 63,115 |
| Marketable securities | — |
| | — |
| | 76,046 |
| | 76,046 |
| Liabilities: | | | | | | | | Senior notes payable and other debt, gross | 11,492,273 |
| | 11,859,324 |
| | 10,872,371 |
| | 11,197,131 |
| Derivative instruments and other liabilities | 3,447 |
| | 3,447 |
| | 2,743 |
| | 2,743 |
| Redeemable OP unitholder interests | 190,461 |
| | 190,461 |
| | 159,134 |
| | 159,134 |
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