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Debt Obligations, net (Tables) | 9 Months Ended
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Sep. 30, 2016
Debt Disclosure [Abstract] |
Schedule of debt obligations | The Company's debt obligations were as follows ($ in thousands):
| Carrying Value as of |  | Stated Interest Rates |  | Scheduled Maturity Date
| September 30, 2016 |  | December 31, 2015 |  |
Secured credit facilities and mortgages: |  |  |  |  |  |  |
2015 $250 Million Secured Revolving Credit Facility | $ | — |  |  | $ | 250,000 |  |  | LIBOR + 2.75% |  | (1) | March 2018
2016 Senior Secured Credit Facility | 499,976 |  |  | — |  |  | LIBOR + 4.50% |  | (2) | July 2020
Mortgages collateralized by net lease assets | 232,721 |  |  | 239,547 |  |  | 4.85% - 7.26% |  | (3) | Various through 2026
2012 Secured Tranche A-2 Facility | — |  |  | 339,717 |  |  | LIBOR + 5.75% |  | (4) | —
Total secured credit facilities and mortgages | 732,697 |  |  | 829,264 |  |  |  |  |  |
Unsecured notes: |  |  |  |  |  |  |
5.875% senior notes | — |  |  | 261,403 |  |  | 5.875 | % |  | —
3.875% senior notes | — |  |  | 265,000 |  |  | 3.875 | % |  | —
3.00% senior convertible notes(5) | 200,000 |  |  | 200,000 |  |  | 3.00 | % |  | November 2016
1.50% senior convertible notes(6) | 178,250 |  |  | 200,000 |  |  | 1.50 | % |  | November 2016
5.85% senior notes | 99,722 |  |  | 99,722 |  |  | 5.85 | % |  | March 2017
9.00% senior notes | 275,000 |  |  | 275,000 |  |  | 9.00 | % |  | 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
6.50% senior notes | 275,000 |  |  | — |  |  | 6.50 | % |  | July 2021
Total unsecured notes | 2,947,972 |  |  | 3,221,125 |  |  |  |  |  |
Other debt obligations: |  |  |  |  |  |  |
Trust preferred securities | 100,000 |  |  | 100,000 |  |  | LIBOR + 1.50% |  |  | October 2035
Total debt obligations | 3,780,669 |  |  | 4,150,389 |  |  |  |  |  |
Debt discounts and deferred financing costs, net | (30,796 | ) |  | (31,566 | ) |  |  |  |  |
Total debt obligations, net(7) | $ | 3,749,873 |  |  | $ | 4,118,823 |  |  |  |  |  |
_______________________________________________________________________________
(1) | 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 1.0% 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.
(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 1.0% and subject to a margin of 3.5% or (ii) LIBOR subject to a margin of 4.5% with a minimum LIBOR rate of 1.0%.
(3) | As of September 30, 2016 and December 31, 2015, includes a loan with a floating rate of LIBOR plus 2.0%. As of September 30, 2016, the weighted average interest rate of these loans is 5.2%.
(4) | The loan had a LIBOR floor of 1.25%.
(5) | The Company's 3.00% senior convertible fixed rate notes due November 2016 ("3.00% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.00% Convertible Notes, at $11.77 per share at any time prior to the close of business on November 14, 2016.
(6) | 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.
(7) | The Company capitalized interest relating to development activities of $1.4 million and $4.2 million for the three and nine months ended September 30, 2016, respectively, and $1.3 million and $4.0 million for the three and nine months ended September 30, 2015, respectively.
Schedule of future scheduled maturities of outstanding long-term debt obligations, net | As of September 30, 2016, future scheduled maturities of outstanding debt obligations are as follows ($ in thousands):
| Unsecured Debt |  | Secured Debt |  | Total
2016 (remaining three months) | $ | 378,250 |  |  | $ | — |  |  | $ | 378,250 |
2017 | 924,722 |  |  | — |  |  | 924,722 |
2018 | 600,000 |  |  | 11,734 |  |  | 611,734 |
2019 | 770,000 |  |  | 29,602 |  |  | 799,602 |
2020 | — |  |  | 499,976 |  |  | 499,976 |
Thereafter | 375,000 |  |  | 191,385 |  |  | 566,385 |
Total principal maturities | 3,047,972 |  |  | 732,697 |  |  | 3,780,669 |
Unamortized discounts and deferred financing costs, net | (21,440 | ) |  | (9,356 | ) |  | (30,796 | )
Total debt obligations, net | $ | 3,026,532 |  |  | $ | 723,341 |  |  | $ | 3,749,873 |
Schedule of carrying value of encumbered assets by asset type | As of September 30, 2016 and December 31, 2015, the carrying value of the Company's encumbered and unencumbered assets by asset type are as follows ($ in thousands):
| As of
| September 30, 2016 |  | December 31, 2015
| Encumbered Assets |  | Unencumbered Assets |  | Encumbered Assets |  | Unencumbered Assets
Real estate, net | $ | 895,041 |  |  | $ | 479,569 |  |  | $ | 816,721 |  |  | $ | 777,262 |
Real estate available and held for sale | — |  |  | 101,488 |  |  | 10,593 |  |  | 126,681 |
Land and development | 35,164 |  |  | 986,942 |  |  | 17,714 |  |  | 984,249 |
Loans receivable and other lending investments, net(1)(2) | 175,365 |  |  | 1,272,458 |  |  | 170,162 |  |  | 1,314,823 |
Other investments | — |  |  | 262,496 |  |  | 22,352 |  |  | 231,820 |
Cash and other assets | — |  |  | 845,128 |  |  | — |  |  | 1,008,415 |
Total | $ | 1,105,570 |  |  | $ | 3,948,081 |  |  | $ | 1,037,542 |  |  | $ | 4,443,250 |
_______________________________________________________________________________
(1) | As of September 30, 2016 and December 31, 2015, the amounts presented exclude general reserves for loan losses of $21.2 million and $36.0 million, respectively.
(2) | As of September 30, 2016 and December 31, 2015, the amounts presented exclude loan participations of $205.6 million and $153.0 million, respectively.

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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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