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Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2012
Weighted Average Maturities and Interest Rates of Borrowings | At December 31, 2012 and 2011, the Company’s borrowings had the following weighted average maturities and interest rates:
|  | December 31, 2012 |  | December 31, 2011 |  |
|  | Debt Balance |  |  | Weighted Average Remaining Maturity |  |  | Weighted Average Rate |  | Debt Balance |  | Weighted Average Remaining Maturity |  | Weighted Average Rate |  |
Wells Facility borrowings |  | $ | 225,155 |  |  |  | 1.1 years | * |  | 1.8% |  | $221,980 |  | 1.6 years* |  | 1.5% |  | **
JPMorgan Facility borrowings |  |  | 3 |  |  |  | 5 days |  |  | 2.7% |  | 68,720 |  | 0.9 years |  | 3.3% |  | L+250 ***
TALF borrowings |  |  | — |  |  |  | — |  |  | —% |  | 251,327 |  | 1.3 years |  | 2.8% |  | Fixed
Total borrowings |  | $ | 225,158 |  |  |  | 1.1 years |  |  | 1.8% |  | $542,027 |  | 1.3 years |  | 2.3% |  |
* | Assumes extension options on the Wells Facility with respect to the Hilton CMBS are exercised. See below for a description of the Wells Facility.
** | Borrowings outstanding under the Wells Facility bear interest at a LIBOR plus 125 basis points, 150 basis points or 235 basis points depending on the collateral pledged.
*** | During April 2012, the Company amended the JPMorgan Facility to reduce the interest rate spread by 50 basis points to LIBOR + 250 basis points.
Remaining Maturities of Borrowings | At December 31, 2012, the Company’s borrowings had the following remaining maturities:
|  | Less than 1 year |  |  | 1 to 3 years |  |  | 3 to 5 years |  |  | More than 5 years |  |  | Total |
Wells Facility borrowings* |  | $ | 179,068 |  |  | $ | 46,087 |  |  | $ | — |  |  | $ | — |  |  | $ | 225,155 |
JPMorgan Facility borrowings |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |
Total |  | $ | 179,071 |  |  | $ | 46,087 |  |  | $ | — |  |  | $ | — |  |  | $ | 225,158 |
* | Assumes extension options on Wells Facility with respect to the Hilton CMBS are exercised. See below for a description of the Wells Facility.
Summary of Outstanding Balances, Maximum and Average Balances of Borrowings | The table below summarizes the outstanding balances, as well as the maximum and average balances as of December 31, 2012 and 2011.
|  |  |  |  | 2012 |  |  |  |  |  | 2011 |
|  | Balance at December 31, 2012 |  |  | Maximum Month-End Balance |  |  | Average Month-End Balance |  |  | Balance at December 31, 2011 |  |  | Maximum Month-End Balance |  |  | Average Month-End Balance |
Wells Facility borrowings |  | $ | 225,155 |  |  | $ | 469,147 |  |  | $ | 283,100 |  |  | $ | 221,980 |  |  | $ | 242,728 |  |  | $ | 233,829 |
JPMorgan Facility borrowings |  |  | 3 |  |  |  | 68,720 |  |  |  | 37,461 |  |  |  | 68,720 |  |  |  | 69,014 |  |  |  | 52,261 |
TALF borrowings |  |  | — |  |  |  | 251,327 |  |  |  | 19,333 |  |  | $ | 251,327 |  |  | $ | 297,334 |  |  | $ | 271,035 |
Total |  | $ | 225,158 |  |  |  |  |  |  |  |  |  |  | $ | 542,027 |  |  |  |  |  |  |  |  |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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