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Fair Value Disclosure (Tables)
 9 Months Ended
Sep. 30, 2013
Fair Value Disclosures [Abstract]  
Summarizes Levels in Fair Value Hierarchy of Financial Instruments
The following table summarizes the levels in the fair value hierarchy into which the Company’s financial instruments were categorized as of September 30, 2013:
 
 
Fair Value as of September 30, 2013
 
Level I
 
Level II
 
Level III
 
Total
CMBS (Available-for-Sale)
$
—

 
$
37,559

 
$
—

 
$
37,559

CMBS (Fair Value Option)
—

 
179,978

 
—

 
179,978

CMBS – Hilton (Fair Value Option) *
—

 
70,682

 
—

 
70,682

Total
$
—

 
$
288,219

 
$
—

 
$
288,219

*The obligors are certain special purpose entities formed in 2010 to hold substantially all of the assets of Hilton Worldwide, Inc. (the “Hilton CMBS”).
The following table summarizes the levels in the fair value hierarchy into which the Company’s financial instruments were categorized as of December 31, 2012:
 
 
Fair Value as of December 31, 2012
 
Level I
 
Level II
 
Level III
 
Total
CMBS (Available-for-Sale)
$
—

 
$
67,079

 
$
—

 
$
67,079

CMBS (Fair Value Option)
—

 
138,248

 
—

 
138,248

CMBS – Hilton (Fair Value Option)
—

 
73,561

 
—

 
73,561

Interest rate swaps
—

 
(156
)
 
—

 
(156
)
Interest rate caps
—

 
1

 
—

 
1

Total
$
—

 
$
278,733

 
$
—

 
$
278,733