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Disclosures About Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2014
Disclosures About Fair Value of Financial Instruments  
Summary of the carrying values and fair values of financial instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

December 31, 2013

 

 

 

Carrying

 

 

 

 

Carrying

 

 

 

 

 

    

Value

    

Fair Value

    

Value

    

Fair Value

 

Loans receivable, net(2) 

 

$
418,801 

 

$
426,598 

 

$
366,001 

 

$
373,441 

 

Marketable debt securities(1) 

 

 
239,801 

 

 
272,420 

 

 
244,089 

 

 
280,850 

 

Marketable equity securities(1)  

 

 
26 

 

 
26 

 

 

—

 

 

—

 

Warrants(3)    

 

 
69 

 

 
69 

 

 
114 

 

 
114 

 

Term loan(2) 

 

 
222,118 

 

 
222,118 

 

 
226,858 

 

 
226,858 

 

Senior unsecured notes(1) 

 

 
7,625,041 

 

 
8,144,262 

 

 
6,963,375 

 

 
7,405,817 

 

Mortgage debt(2) 

 

 
1,199,633 

 

 
1,234,725 

 

 
1,396,485 

 

 
1,421,214 

 

Other debt(2)  

 

 
97,845 

 

 
97,845 

 

 
74,909 

 

 
74,909 

 

Interest-rate swap assets(2)  

 

 
1,447 

 

 
1,447 

 

 
2,325 

 

 
2,325 

 

Interest-rate swap liabilities(2) 

 

 
7,580 

 

 
7,580 

 

 
8,384 

 

 
8,384 

 

Currency swap assets(2) 

 

 
484 

 

 
484 

 

 

 —

 

 

 —

 

Currency swap liabilities(2) 

 

 
1,337 

 

 
1,337 

 

 
2,756 

 

 
2,756 

 

(1)  Level 1: Fair value calculated based on quoted prices in active markets.

(2)  Level 2: Fair value based on quoted prices for similar or identical instruments in active or inactive markets, respectively, or calculated utilizing standardized pricing models in which significant inputs or value drivers are observable in active markets.

(3)  Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.