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Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2015
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 September 30, 2015 and December 31, 2014:
 
 
September 30, 2015
 
December 31, 2014
 
Carrying
Value
 
Estimated
Fair Value
 
Carrying
Value
 
Estimated
Fair Value
Cash and cash equivalents
$
20,158

 
$
20,158

 
$
40,641

 
$
40,641

Restricted cash
30,127

 
30,127

 
30,127

 
30,127

Securities, held-to-maturity
153,799

 
153,983

 
154,283

 
154,980

Commercial first mortgage loans
905,681

 
911,279

 
458,520

 
465,510

Subordinate loans
861,808

 
872,433

 
561,182

 
566,385

Borrowings under repurchase agreements
(735,437
)
 
(735,700
)
 
(622,194
)
 
(621,269
)
Convertible senior notes, net
(247,736
)
 
(250,101
)
 
(246,464
)
 
(254,605
)
Participations sold
(119,407
)
 
(119,513
)
 
(89,584
)
 
(89,995
)