2.4.0.8015 - Disclosure - Fair Valuetruefalsefalse1false falsefalseContext_6ME__30-Jun-2013http://www.sec.gov/CIK0001503707duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_FairValueDisclosuresAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Fair Value Disclosures [Abstract]2false 2us-gaap_FairValueDisclosuresTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse008.   Fair Value   Fair Value Measurement   The fair value of financial instruments is based on the priority of the inputs to the valuation technique and categorized into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.   Financial assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:   Level 1. Quoted prices for identical assets or liabilities in an active market.   Level 2. Financial assets and liabilities whose values are based on the following:   <table style="font: 10pt/normal times new roman, times, serif; margin-top: 0pt; margin-bottom: 6pt; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 35pt; text-align: right;">a)</td> <td style="width: 5pt;"></td> <td style="text-align: justify;">Quoted prices for similar assets or liabilities in active markets.</td> </tr> </table> <table style="font: 10pt/normal times new roman, times, serif; margin-top: 0pt; margin-bottom: 6pt; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 35pt; text-align: right;">b)</td> <td style="width: 5pt;"></td> <td style="text-align: justify;">Quoted prices for identical or similar assets or liabilities in non-active markets.</td> </tr> </table> <table style="font: 10pt/normal times new roman, times, serif; margin-top: 0pt; margin-bottom: 6pt; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 35pt; text-align: right;">c)</td> <td style="width: 5pt;"></td> <td style="text-align: justify;">Pricing models whose inputs are observable for substantially the full term of the asset or liability.</td> </tr> </table> <table style="font: 10pt/normal times new roman, times, serif; margin-top: 0pt; margin-bottom: 6pt; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 35pt; text-align: right;">d)</td> <td style="width: 5pt;"></td> <td style="text-align: justify;">Pricing models whose inputs are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability.</td> </tr> </table> Level 3. Prices or valuation techniques based on inputs that are both unobservable and significant to the overall fair value measurement.   Fair Value of Financial Instruments   U.S. GAAP requires disclosure of fair value about all financial instruments. The following disclosure of estimated fair value of financial instruments was determined by the Company, using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on estimated fair value.   The following table presents the principal amount, carrying value and fair value of certain financial assets as of June 30, 2013:   <table style="font: 10pt/normal times new roman, times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt;"> </td> <td style="text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="width: 55%; padding-bottom: 1pt;"> </td> <td style="width: 1%; text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">Principal Amount</td> <td style="width: 1%; text-align: left; padding-bottom: 1pt; font-weight: bold;"> </td> <td style="width: 1%; text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">Carrying Value</td> <td style="width: 1%; text-align: left; padding-bottom: 1pt; font-weight: bold;"> </td> <td style="width: 1%; text-align: left; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">Fair Value</td> <td style="width: 1%; text-align: left; padding-bottom: 1pt; font-weight: bold;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-weight: bold;">Financial assets: (1)</td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left;">Real estate debt investments, net</td> <td style="text-align: left;">$</td> <td style="text-align: right;">2,500,000</td> <td style="text-align: left;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">2,500,000</td> <td style="text-align: left;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">2,500,000</td> <td style="text-align: left;"> </td> </tr> </table>   <div align="left" style="margin-top: 3pt; margin-bottom: 3pt;"> <div style="width: 25%; font-size: 1pt; border-top-color: black; border-top-width: 1pt; border-top-style: solid;"> </div> </div> <table style="font: 10pt/normal times new roman, times, serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0pt;"></td> <td style="width: 0.25in;">(1)</td> <td style="text-align: justify;">The fair value of other financial instruments not included in this table is estimated to approximate their carrying amounts.</td> </tr> </table>   Disclosure about fair value of financial instruments is based on pertinent information available to management as of the reporting date. Although management is not aware of any factors that would significantly affect fair value, such amounts have not been comprehensively revalued for purposes of these consolidated financial statements since that date and current estimates of fair value may differ significantly from the amounts presented herein.   Real Estate Debt Investments   For debt investments, fair value was approximated by comparing the current yield to the estimated yield for newly originated loans with similar credit risk or the market yield at which a third party might expect to purchase such investment but not to exceed principal amount. Prices were calculated assuming fully-extended maturities regardless of structural or economic tests required to achieve such extended maturities. This fair value measurement of debt is generally based on unobservable inputs and, as such, is classified as Level 3 of the fair value hierarchy.falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13537-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13504-108611 false0Fair ValuefalseFair ValueUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.northstarreit.com/role/FairValue12