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Debt (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of Debt
The following table presents the Company's debt as of December 31, 2015 and 2014 (in thousands):
 
 
 
 
 
Outstanding Principal Balance
 
Interest Rate (1)
 
Maturity Date
 
December 31, 2015
 
December 31, 2014
2014-SFR1 securitization (2)
1.97
%
 
June 9, 2019
 
$
473,755

 
$
478,565

2014-SFR2 securitization
4.42
%
 
October 9, 2024
 
507,305

 
512,435

2014-SFR3 securitization
4.40
%
 
December 9, 2024
 
523,109

 
528,390

2015-SFR1 securitization (3)
4.14
%
 
April 9, 2045
 
549,121

 
—

2015-SFR2 securitization (4)
4.36
%
 
October 9, 2045
 
476,920

 
—

Total asset-backed securitizations
 
 
 
 
2,530,210

 
1,519,390

Secured note payable
4.06
%
 
July 1, 2019
 
50,752

 
51,644

Credit facility (5)
3.18
%
 
September 30, 2018
 
—

 
207,000

Total debt (6)
 
 
 
 
$
2,580,962

 
$
1,778,034
Summary of Activity that Relates to Capitalized Interest
The following table displays our total gross interest, including unused commitments and other fees and amortization of deferred financing costs, and capitalized interest for the years ended December 31, 2015, 2014 and 2013 (in thousands):
 
For the Years Ended December 31,
 
2015
 
2014
 
2013
Gross interest cost
$
98,103

 
$
33,077

 
$
10,016

Capitalized interest
(8,690
)
 
(13,196
)
 
(9,646
)
Interest expense
$
89,413

 
$
19,881

 
$
370