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Preferred Equity Investment
6 Months Ended
Jun. 30, 2015
Investments, All Other Investments [Abstract]  
Preferred Equity Investment
Preferred Equity Investment
During the six months ended June 30, 2015, the Company invested an aggregate amount of $127,147,000 in 7.875% Series B Redeemable Cumulative Preferred Stock. The Preferred Equity Investment is stated at cost and consisted of a principal amount of $125,000,000, plus origination costs of $2,772,000, offset by closing fees of $625,000. During the three and six months ended June 30, 2015, the Company recognized dividend income related to the Preferred Equity Investment of approximately $2,460,000 and $2,898,000, respectively.