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Debt Securities (Tables) | 9 Months Ended
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Sep. 30, 2013
Investments, Debt and Equity Securities [Abstract] |
Amortized Cost and Estimated Fair Value | The amortized cost and estimated fair value of the Company’s debt securities at September 30, 2013 are summarized as follows:
Security Description | Face Amount |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value
CMBS (Available-for-Sale) | $ | 36,925 |  |  | $ | 38,178 |  |  | $ | — |  |  | $ | (619 | ) |  | $ | 37,559 |
CMBS (Fair Value Option) | 180,365 |  |  | 179,841 |  |  | 372 |  |  | (235 | ) |  | 179,978 |
CMBS – Hilton (Fair Value Option) | 70,682 |  |  | 69,587 |  |  | 1,095 |  |  | — |  |  | 70,682 |
Total | $ | 287,972 |  |  | $ | 287,606 |  |  | $ | 1,467 |  |  | $ | (854 | ) |  | $ | 288,219 |
The amortized cost and estimated fair value of the Company’s debt securities at December 31, 2012 are summarized as follows:
Security Description | Face Amount |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value
CMBS (Available-for-Sale) | $ | 65,410 |  |  | $ | 67,109 |  |  | $ | 249 |  |  | $ | (279 | ) |  | $ | 67,079 |
CMBS (Fair Value Option) | 134,694 |  |  | 136,354 |  |  | 2,061 |  |  | (167 | ) |  | 138,248 |
CMBS – Hilton (Fair Value Option) | 73,239 |  |  | 70,250 |  |  | 3,311 |  |  | — |  |  | 73,561 |
Total | $ | 273,343 |  |  | $ | 273,713 |  |  | $ | 5,621 |  |  | $ | (446 | ) |  | $ | 278,888 |
Overall Statistics for Company's AAA-Rated CMBS Investments Calculated on Weighted Average Basis | The overall statistics for the Company’s CMBS investments (excluding the Hilton CMBS) calculated on a weighted average basis assuming no early prepayments or defaults as of September 30, 2013 and December 31, 2012 are as follows:
| September 30, 2013 |  | December 31, 2012
Credit Ratings * | AAA-CCC |  |  | AAA |
Coupon | 5.8 | % |  | 5.6 | %
Yield | 5.3 | % |  | 4.1 | %
Weighted Average Life | 2.2 years |  |  | 1.8 years |
* | Ratings per Fitch Ratings, Moody’s Investors Service or Standard & Poor's.
Percentage Vintage, Property Type, and Location of Collateral Securing Company's AAA-Rated CMBS Investments Calculated on Weighted Average Basis | The percentage vintage, property type and location of the collateral securing the Company’s CMBS investments (excluding the Hilton CMBS) calculated on a weighted average basis as of September 30, 2013 and December 31, 2012 are as follows:
Vintage | September 30, 2013 |  | December 31, 2012
2006 | — | % |  | 1 | %
2007 | 100 |  |  | 99 |
Total | 100 | % |  | 100 | %
Property Type | September 30, 2013 |  | December 31, 2012
Office | 40.0 | % |  | 40.5 | %
Retail | 22.1 |  |  | 23.2 |
Hotel | 13.0 |  |  | 10.5 |
Multifamily | 12.3 |  |  | 12.9 |
Other * | 12.6 |  |  | 12.9 |
Total | 100 | % |  | 100 | %
* No other individual category comprises more than 10% of the total.
Location | September 30, 2013 |  | December 31, 2012
Middle Atlantic | 22.9 | % |  | 21.4 | %
Pacific | 21.7 |  |  | 23.8 |
South Atlantic | 21.1 |  |  | 21.8 |
Other * | 34.3 |  |  | 33.0 |
Total | 100 | % |  | 100 | %
* No other individual category comprises more than 10% of the total.

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- Definition Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13531-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13572-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13587-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15A, 15B, 15C, 15D -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6404-108592 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6327-108592 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13531-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6351-108592 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6442-108592 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 94-6 -Paragraph 21, 22, 23, 24, 25 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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