Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Quantitative Disclosure of The Fair Value For Each Major Category Of Assets And Liabilities

For assets and liabilities measured at fair value on a recurring basis, quantitative disclosure of the fair value for each major category of assets and liabilities is presented below:

	Fair Value Measurements at September 30, 2014
	Using Quoted Prices in Active Markets for Identical Assets		Using Significant Other Observable Inputs			Using Significant Other Unobservable Inputs
	(Level 1)		(Level 2)			(Level 3)
Available-for-sale real estate equity securities	$	135,460	$	—		$	—
Real estate related bonds	—		3,698			—
Total assets	$	135,460	$	3,698		$	—
Derivative interest rate instruments	—		(1,089		)	—
Total liabilities	$	—	$	(1,089	)	$	—

	Fair Value Measurements at December 31, 2013
	Using Quoted Prices in Active Markets for Identical Assets		Using Significant  Other Observable Inputs			Using Significant  Other Unobservable Inputs
	(Level 1)		(Level 2)			(Level 3)
Available-for-sale real estate equity securities	$	234,760	$	—		$	—
Real estate related bonds	—		8,059			—
Total assets	$	234,760	$	8,059		$	—
Derivative interest rate instruments	—		(458		)	—
Total liabilities	$	—	$	(458	)	$	—

Assets Measured at Fair Value on Non-Recurring Basis

The following table summarizes activity for the Company’s assets measured at fair value on a non-recurring basis. The Company recognized certain impairment charges to reflect the investments at their fair values for the three and nine months endedSeptember 30, 2014 and 2013. The asset groups that were reflected at fair value through this evaluation are:

	For the three months ended				For the nine months ended
	September 30, 2014		September 30, 2013		September 30, 2014		September 30, 2013
	Fair Value Measure-ments Using Significant Unobser-vable Inputs (Level 3)	Total Impairment Losses	Fair Value Measure-ments Using Significant Unobser-vable Inputs (Level 3)	Total Impairment Losses	Fair Value Measure-ments Using Significant Unobser-vable Inputs (Level 3)	Total Impairment Losses	Fair Value Measure-ments Using Significant Unobser-vable Inputs (Level 3)	Total Impairment Losses
Investment properties	$12,643	$2,337	$67,225	$39,942	$155,623	$80,281	$223,443	$225,009
Total	$12,643	$2,337	$67,225	$39,942	$155,623	$80,281	$223,443	$225,009

Fair Value of Financial Instruments Presented at Carrying Values

The table below represents the fair value of financial instruments presented at carrying values in our consolidated financial statements as of September 30, 2014 and December 31, 2013.

	September 30, 2014				December 31, 2013
	Carrying Value		Estimated  Fair Value		Carrying Value		Estimated  Fair Value
Mortgages payable	$	3,960,285	$	3,967,792	$	4,737,459	$	4,748,276
Line of credit	$	200,000	$	200,000	$	200,180	$	200,180
Margins payable	$	—	$	—	$	59,681	$	59,681