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Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2013
Debt Disclosure [Abstract] |
Weighted Average Maturities and Interest Rates of Borrowings | At March 31, 2013 and December 31, 2012, the Company’s borrowings had the following debt balances, weighted average maturities and interest rates:
|  | March 31, 2013 |  |  | December 31, 2012 |
|  | Debt Balance |  |  | Weighted Average Remaining Maturity |  |  | Weighted Average Rate |  |  | Debt Balance |  |  | Weighted Average Remaining Maturity |  |  | Weighted Average Rate |  |  |  |
Wells Facility borrowings |  | $ | 211,941 |  |  |  | 1.3 years | * |  |  | 1.4 | % |  | $ | 225,155 |  |  |  | 1.1 years | * |  |  | 1.8 | % |  |  |  | **
JPMorgan Facility borrowings |  |  | 3 |  |  |  | 1.8 years | * |  |  | 2.7 | % |  |  | 3 |  |  |  | 5 days |  |  |  | 2.7 | % |  |  | L+250 |
Total borrowings |  | $ | 211,944 |  |  |  | 1.3 years |  |  |  | 1.4 | % |  | $ | 225,158 |  |  |  | 1.1 years |  |  |  | 1.8 | % |  |  |  |
* | Assumes extension options on the Wells Facility and JPMorgan Facility are exercised.
** | At December 31, 2012, borrowings outstanding under the Wells Facility bore interest at a LIBOR plus 125 basis points, 150 basis points or 235 basis points depending on the collateral pledged. At March 31, 2013, borrowings outstanding under the Wells Facility bore interest at a LIBOR plus 105 basis points or 175 basis points depending on the collateral pledged.
Remaining Maturities of Borrowings | At March 31, 2013, 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* |  | $ | 166,467 |  |  | $ | 45,474 |  |  | $ | — |  |  | $ | — |  |  | $ | 211,941 |
JPMorgan Facility borrowings |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 3 |
Total |  | $ | 166,467 |  |  | $ | 45,477 |  |  | $ | — |  |  | $ | — |  |  | $ | 211,944 |
* | Assumes extension options on Wells Facility with respect to the Hilton CMBS are exercised.
Summary of Outstanding Balances, Maximum and Average Balances of Borrowings | The table below summarizes the outstanding balances at March 31, 2013 as well as the maximum and average balances for the three months ended March 31, 2013.
|  |  |  |  | For the three months ended March 31, 2013 |
|  | Balance at March 31, 2013 |  |  | Maximum Month-End Balance |  |  | Average Month-End Balance |
Wells Facility borrowings |  | $ | 211,941 |  |  | $ | 225,155 |  |  | $ | 216,947 |
JPMorgan Facility borrowings |  |  | 3 |  |  |  | 3 |  |  |  | 3 |
Total |  | $ | 211,944 |  |  |  |  |  |  |  |  |

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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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