Real Estate Securities, Available for Sale (Tables)

6 Months Ended

Jun. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Schedule of the Company's CRE securities

The following table presents CRE securities (dollars in thousands):



													Weighted Average
		Principal Amount ⁽¹⁾		Amortized Cost		Cumulative Unrealized on Investments					Fair Value				Unleveraged Current Yield
CMBS:	Number	Principal Amount ⁽¹⁾		Amortized Cost		Gain		(Loss)			Fair Value		Coupon ⁽²⁾		Unleveraged Current Yield
June 30, 2014	8	$	104,542	$	54,010	$	16,971	$	(481	)	$	70,500	4.53	%	9.07	%
December 31, 2013	8	104,542		53,406		13,373		(329		)	66,450		4.53	%	9.07	%

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(1)	Certain CRE securities serve as collateral for financing transactions including carrying value of $17.7 million for the CMBS Facilities (refer to Note 7). The remainder is unleveraged.


(2)	All CMBS are fixed rate.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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