Fair Value Disclosure (Tables)

12 Months Ended

Dec. 31, 2015

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 December 31, 2015 and 2014:



	Fair Value as of December 31, 2015								Fair Value as of December 31, 2014
	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
CMBS (Available-for-Sale)	$	—	$	—	$	—	$	—	$	—	$	17,105	$	—	$	17,105
CMBS (Fair Value Option)	—		493,149		—		493,149		—		522,730		—		522,730
Derivative instruments	—		3,327		—		3,327		—		4,070		—		4,070
Total	$	—	$	496,476	$	—	$	496,476	$	—	$	543,905	$	—	$	543,905