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Fair Values (Tables)
 12 Months Ended
Dec. 31, 2012
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities recorded at fair value on a recurring and non-recurring basis by levels
The following fair value hierarchy table summarizes the Company's assets and liabilities recorded at fair value on a recurring and non-recurring basis by the above categories ($ in thousands):
 
 
 
Fair Value Using
 
Total
 
Quoted market
prices in
active markets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
As of December 31, 2012
 
 
 
 
 
 
 
Recurring basis:
 
 
 
 
 
 
 
  Derivative liabilities
$
3,435

 
$
—

 
$
3,435

 
$
—

Non-recurring basis:
 
 
 
 
 
 
 
Impaired loans
$
57,201

 
$
—

 
$
—

 
$
57,201

Impaired real estate
$
31,597

 
$
—

 
$
7,649

 
$
23,948

As of December 31, 2011
 
 
 
 
 
 
 
Recurring basis:
 
 
 
 
 
 
 
Derivative liabilities
$
2,373

 
$
—

 
$
2,373

 
$
—

Non-recurring basis:
 
 
 
 
 
 
 
Impaired loans
$
271,968

 
$
—

 
$
—

 
$
271,968

Impaired real estate
$
43,660

 
$
—

 
$
—

 
$
43,660
Schedule of quantitative information about Level 3 fair value measures of the entity's non-recurring financial and non-financial assets
The following table provides quantitative information about Level 3 fair value measures of the Company's non-recurring financial and non-financial assets ($ in thousands):

Quantitative Information about Level 3 Fair Value Measurements
 
Fair Value as of December 31, 2012
 
Valuation
Technique(s)
 
Unobservable Input
 
Weighted
Average
Impaired loans
$
57,201

 
Various(1)
 
Discount rate
 
10.9
 %
 
 

 
 
 
Average annual revenue growth
 
1.0
 %
 
 

 
 
 
Capitalization rate
 
8.9
 %
 
 
 
 
 
Average annual increase in occupancy
 
0.2
 %
Impaired real estate
23,948

 
Discounted cash flow
 
Discount rate
 
12.3
 %
 
 
 
 
 
Capitalization rate
 
9.0
 %
 
 
 
 
 
Average annual revenue growth
 
3.7
 %
 
 
 
 
 
Remaining inventory sell out period (in years)
 
5.0

 
 
 
 
 
Average annual increase in occupancy
 
(1.0
)%
Total
$
81,149

 
 
 
 
 
 



Explanatory Note:
_______________________________________________________________________________

(1)One loan with a value of $19.7 million was valued using discounted cash flows. The remaining loan with a value of $37.5 million was valued based on a discounted pay-off offer provided by the borrower that the Company believes approximates fair value.