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Fair Value of Financial Instruments | 6 Months Ended
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Jun. 30, 2017
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments | Fair Value of 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 condensed consolidated balance sheet at June 30, 2017 and December 31, 2016:
| June 30, 2017 |  | December 31, 2016
| Carrying Value |  | Estimated Fair Value |  | Carrying Value |  | Estimated Fair Value
Cash and cash equivalents | $ | 214,016 |  |  | $ | 214,016 |  |  | $ | 200,996 |  |  | $ | 200,996 |
Restricted cash | 57,665 |  |  | 57,665 |  |  | 62,457 |  |  | 62,457 |
Securities, held-to-maturity | — |  |  | — |  |  | 146,352 |  |  | 146,352 |
Commercial mortgage loans | 2,037,971 |  |  | 2,034,082 |  |  | 1,641,856 |  |  | 1,648,896 |
Subordinate loans | 1,240,363 |  |  | 1,244,548 |  |  | 1,051,236 |  |  | 1,060,882 |
Borrowings under repurchase agreements | (1,340,254 | ) |  | (1,338,368 | ) |  | (1,146,566 | ) |  | (1,146,807 | )
Convertible senior notes, net | (250,949 | ) |  | (274,262 | ) |  | (249,994 | ) |  | (268,124 | )
Participations sold | — |  |  | — |  |  | (84,979 | ) |  | (85,072 | )
To determine estimated fair values of the financial instruments listed above, market rates of interest, which include credit assumptions, are used to discount contractual cash flows. The estimated fair values are not necessarily indicative of the amount the Company could realize on disposition of the financial instruments. The use of different market assumptions or estimation methodologies could have a material effect on the estimated fair value amounts. Estimates of fair value for cash and cash equivalents, restricted cash and convertible senior notes, net are measured using observable Level I inputs as defined in "Note 3 - Fair Value Disclosure." Estimates of fair value for all other financial instruments in the table above are measured using significant estimates, or unobservable Level III inputs as defined in "Note 3 - Fair Value Disclosure."

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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