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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2017
Fair Value Measurements |
Summary of the carrying values and fair values of financial instruments (in thousands) | The table below summarizes the carrying amounts and fair values of the Company’s financial instruments (in thousands):
|  | March 31, 2017(4) |  | December 31, 2016(4)
|  | Carrying |  |  |  |  | Carrying |  |  |
|  | Value |  | Fair Value |  | Value |  | Fair Value
Loans receivable, net(2) |  | $ | 788,486 |  | $ | 787,067 |  | $ | 807,954 |  | $ | 807,505
Marketable debt securities(2) |  |  | 18,330 |  |  | 18,330 |  |  | 68,630 |  |  | 68,630
Marketable equity securities(1) |  |  | 85 |  |  | 85 |  |  | 76 |  |  | 76
Warrants(3) |  |  | 39 |  |  | 39 |  |  | 19 |  |  | 19
Bank line of credit(2) |  |  | 492,421 |  |  | 492,421 |  |  | 899,718 |  |  | 899,718
Term loans(2) |  |  | 274,103 |  |  | 274,103 |  |  | 440,062 |  |  | 440,062
Senior unsecured notes(1) |  |  | 7,136,336 |  |  | 7,445,519 |  |  | 7,133,538 |  |  | 7,386,149
Mortgage debt(2) |  |  | 147,329 |  |  | 134,605 |  |  | 623,792 |  |  | 609,374
Other debt(2) |  |  | 91,263 |  |  | 91,263 |  |  | 92,385 |  |  | 92,385
Interest-rate swap liabilities(2) |  |  | 4,163 |  |  | 4,163 |  |  | 4,857 |  |  | 4,857
Currency swap asset(2) |  |  | 1,924 |  |  | 1,924 |  |  | 2,920 |  |  | 2,920
| (1) |  | Level 1: Fair value calculated based on quoted prices in active markets.
| (2) |  | Level 2: Fair value based on (i) for marketable debt securities, quoted prices for similar or identical instruments in active or inactive markets, respectively, or (ii) or for loans receivable, net, mortgage debt, and swaps, calculated utilizing standardized pricing models in which significant inputs or value drivers are observable in active markets. For bank line of credit, term loans and other debt, the carrying values are a reasonable estimate of fair value because the borrowings are primarily based on market interest rates and the Company’s credit rating.
| (3) |  | Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.
| (4) |  | During the three months ended March 31, 2017 and year ended December 31, 2016, there were no material transfers of financial assets or liabilities within the fair value hierarchy.

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