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Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt

Schedule of debt

        The following table presents the Company's debt as of December 31, 2014 and 2013 (in thousands):

		December 31, 2014			December 31, 2013
2014-SFR1 securitization		$	478,565		$	—
2014-SFR2 securitization			512,435			—
2014-SFR3 securitization			528,390			—
​	​	​	​	​	​	​	​
Total asset-backed securitizations			1,519,390			—
Note payable			51,644			—
Credit facility			207,000			375,000
​	​	​	​	​	​	​	​
Total debt		$	1,778,034		$	375,000
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Summary of activity that relates to capitalized interest

        The following table outlines our total gross interest, including unused commitment and other fees and amortization of deferred financing costs, and capitalized interest for the years ended December 31, 2014, 2013 and 2012 (in thousands):

		For the Years Ended December 31,
		2014			2013			2012
Gross interest cost		$	33,077		$	10,016		$	—
Capitalized interest			(13,196	)		(9,646	)		—
​	​	​	​	​	​	​	​	​	​	​
Interest expense		$	19,881		$	370		$	—
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

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