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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule Of Other Financial Instruments In Carrying Values And Fair Values
Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):
 
 
 
September 30, 2017
 
December 31, 2016
 
Level
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Mortgage debt, net (a) (b)
3
 
$
1,946,726

 
$
1,978,924

 
$
2,022,250

 
$
2,053,353

Loans receivable (b)
3
 
110,500

 
110,500

 
31,500

 
31,500

CMBS (c)
3
 
5,851

 
7,149

 
4,027

 
7,470

___________
(a)
The carrying value of Mortgage debt, net includes unamortized deferred financing costs of $8.5 million and $9.3 million at September 30, 2017 and December 31, 2016, respectively.
(b)
We determined the estimated fair value of these financial instruments using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates take into account interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity.
(c)
At September 30, 2017 and December 31, 2016, we had three separate tranches of CMBS investments. The carrying value of our CMBS is inclusive of impairment charges for both periods presented, as well as accretion related to the estimated cash flows expected to be received.
Schedule Of Fair Value Impairment Charges Using Unobservable Inputs Nonrecurring Basis
The following table presents information about the assets for which we recorded an impairment charge that was measured at fair value on a non-recurring basis (in thousands):
 
Three Months Ended September 30, 2017
 
Three Months Ended September 30, 2016
 
Fair Value Measurements
 
Total Impairment Charges
 
Fair Value Measurements
 
Total Impairment Charges
Impairment Charges
 

 
 

 
 

 
 

Equity investments in real estate
$
6,809

 
$
6,295

 
$
—

 
$
—

Real estate
—

 
—

 
14,850

 
29,183

CMBS
637

 
276

 
—

 
—

 
 
 
$
6,571

 
 
 
$
29,183

 
Nine Months Ended September 30, 2017
 
Nine Months Ended September 30, 2016
 
Fair Value Measurements
 
Total Impairment Charges
 
Fair Value Measurements
 
Total Impairment Charges
Impairment Charges
 

 
 

 
 

 
 

Equity investments in real estate
$
11,589

 
$
8,805

 
$
—

 
$
—

Real estate
4,719

 
4,519

 
14,850

 
29,183

CMBS
637

 
276

 
—

 
—

 
 
 
$
13,600

 
 
 
$
29,183