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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2014
Fair Value Disclosures [Abstract]  
Carrying Value and Estimated Fair Value of Company's Financial Instruments
The following table presents the carrying value and estimated fair value of the Company’s financial instruments not carried at fair value on the consolidated balance sheet at June 30, 2014 and December 31, 2013:
 
 
June 30, 2014
 
December 31, 2013
 
Carrying
Value
 
Estimated
Fair Value
 
Carrying
Value
 
Estimated
Fair Value
Cash and cash equivalents
$
63,335

 
$
63,335

 
$
20,096

 
$
20,096

Restricted cash
30,127

 
30,127

 
30,127

 
30,127

Commercial first mortgage loans
343,810

 
348,043

 
161,099

 
164,405

Subordinate loans
748,227

 
664,661

 
497,484

 
503,267

Borrowings under repurchase agreements
(446,224
)
 
(444,975
)
 
(202,033
)
 
(202,148
)
Convertible senior notes, net
(139,362
)
 
(151,218
)
 
—

 
—

Participations sold
(89,182
)
 
(89,974
)
 
—

 
—