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Debt Obligations, net (Tables)
 6 Months Ended
Jun. 30, 2015
Debt Disclosure [Abstract]  
Schedule of debt obligations
As of June 30, 2015 and December 31, 2014, the Company's debt obligations were as follows ($ in thousands):
 
Carrying Value as of
 
Stated
Interest Rates
 
Scheduled
Maturity Date
 
June 30, 2015
 
December 31, 2014
 
 
Secured credit facilities and term loans:
 
 
 
 
 
 
 
2012 Tranche A-2 Facility
$
345,048

 
$
358,504

 
LIBOR + 5.75%

(1)
March 2017
2015 Revolving Credit Facility
250,000

 
—

 
Various
(2)
March 2018
Term loans collateralized by net lease assets
244,623

 
248,955

 
4.851% - 7.26%

(3)
Various through 2026
Total secured credit facilities and term loans
839,671

 
607,459

 
 

 
 
Unsecured notes:
 
 
 
 
 
 
 
6.05% senior notes
—

 
105,765

 
6.05
%
 
April 2015
5.875% senior notes
261,403

 
261,403

 
5.875
%
 
March 2016
3.875% senior notes
265,000

 
265,000

 
3.875
%
 
July 2016
3.0% senior convertible notes(4)
200,000

 
200,000

 
3.0
%
 
November 2016
1.50% senior convertible notes(5)
200,000

 
200,000

 
1.50
%
 
November 2016
5.85% senior notes
99,722

 
99,722

 
5.85
%
 
March 2017
9.0% senior notes
275,000

 
275,000

 
9.0
%
 
June 2017
4.00% senior notes
550,000

 
550,000

 
4.00
%
 
November 2017
7.125% senior notes
300,000

 
300,000

 
7.125
%
 
February 2018
4.875% senior notes
300,000

 
300,000

 
4.875
%
 
July 2018
5.00% senior notes
770,000

 
770,000

 
5.00
%
 
July 2019
Total unsecured notes
3,221,125

 
3,326,890

 
 

 
 
Other debt obligations:

 
 
 
 
 
 
Other debt obligations
100,000

 
100,000

 
LIBOR + 1.50%

 
October 2035
Total debt obligations
4,160,796

 
4,034,349

 
 

 
 
Debt discounts, net
(9,143
)
 
(11,665
)
 
 

 
 
Total debt obligations, net(6)
$
4,151,653

 
$
4,022,684

 
 

 
 

Explanatory Notes:
_______________________________________________________________________________

(1)
The loan has a LIBOR floor of 1.25%. As of June 30, 2015, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.
(2)
The loan bears interest at the Company's election of either (i) a base rate, which is the greater of (a) prime, (b) federal funds plus 0.5% or (c) LIBOR plus 1.00% and subject to a margin ranging from 1.25% to 1.75%, or (ii) LIBOR subject to a margin ranging from 2.25% to 2.75%. At maturity, the Company may convert outstanding borrowings to a one year term loan which matures in quarterly installments through March 2019.
(3)
As of June 30, 2015 and December 31, 2014, includes a loan with a floating rate of LIBOR plus 2.00%. As of June 30, 2015, the weighted average interest rate of these loans is 5.3%.
(4)
The Company's 3.0% senior convertible fixed rate notes due November 2016 ("3.0% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.0% Convertible Notes, at $11.77 per share at any time prior to the close of business on November 14, 2016.
(5)
The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at $17.29 per share at any time prior to the close of business on November 14, 2016.
(6)
The Company capitalized interest relating to development activities of $1.2 million and $2.6 million for the three and six months ended June 30, 2015 and $1.0 million and $1.9 million for the three and six months ended June 30, 2014.
Schedule of future scheduled maturities of outstanding long-term debt obligations, net
Future Scheduled Maturities—As of June 30, 2015, future scheduled maturities of outstanding long-term debt obligations are as follows ($ in thousands):
 
Unsecured Debt
 
Secured Debt
 
Total
2015 (remaining six months)
$
—

 
$
—

 
$
—

2016
926,403

 
—

 
926,403

2017
924,722

 
345,048

 
1,269,770

2018
600,000

 
264,282

 
864,282

2019
770,000

 
31,562

 
801,562

Thereafter
100,000

 
198,779

 
298,779

Total principal maturities
3,321,125

 
839,671

 
4,160,796

Unamortized discounts, net
(6,962
)
 
(2,181
)
 
(9,143
)
Total long-term debt obligations, net
$
3,314,163

 
$
837,490

 
$
4,151,653
Schedule of carrying value of encumbered assets by asset type
Encumbered/Unencumbered Assets—As of June 30, 2015 and December 31, 2014, the carrying value of the Company's encumbered and unencumbered assets by asset type are as follows ($ in thousands):
 
As of
 
June 30, 2015
 
December 31, 2014
 
Encumbered Assets
 
Unencumbered Assets
 
Encumbered Assets
 
Unencumbered Assets
Real estate, net
$
880,745

 
$
1,658,071

 
$
620,378

 
$
2,056,336

Real estate available and held for sale
10,496

 
277,525

 
10,496

 
275,486

Loans receivable and other lending investments, net(1)(2)
102,218

 
1,349,876

 
46,515

 
1,364,828

Other investments
18,509

 
270,991

 
17,708

 
336,411

Cash and other assets
—

 
989,730

 
—

 
768,475

Total
$
1,011,968

 
$
4,546,193

 
$
695,097

 
$
4,801,536


Explanatory Notes:
_______________________________________________________________________________

(1)
As of June 30, 2015 and December 31, 2014, the amounts presented exclude general reserves for loan losses of $27.1 million and $33.5 million, respectively.
(2)
As of June 30, 2015 and December 31, 2014, the amounts presented exclude loan participations payable of $142.3 million and $0.0 million, respectively