Fair Value Disclosure (Tables)

6 Months Ended

Jun. 30, 2016

Summary of the 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 June 30, 2016 and December 31, 2015:



	Fair Value as of June 30, 2016								Fair Value as of December 31, 2015
	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
CMBS (Fair Value Option)	$	—	$	452,704	$	—	$	452,704	$	—	$	493,149	$	—	$	493,149
Derivative instruments	—		15,342		—		15,342		—		3,327		—		3,327
Total	$	—	$	468,046	$	—	$	468,046	$	—	$	496,476	$	—	$	496,476

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details