Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Fair Value Information of Financial Instruments

The following table summarizes fair value estimates for our financial instruments (in thousands):

	December 31, 2012						December 31, 2011
Asset (Liability)	Book Value			Fair Value			Book Value			Fair Value
Interest and rent receivables	$	45,289		$	36,700		$	29,862			$22,866
Loans(1)		334,693			335,595			239,839			243,272
Debt, net		(1,025,160	)		(1,082,333	)		(689,849	)		(688,032	)

(1) Excludes loans related to Ernest Transaction since they are recorded at fair value and discussed below.

Equity Interest in Ernest and Related Loans Measured at Fair Value on Recurring Basis

At December 31, 2012, these amounts were as follows (in thousands):

Asset (Liability)	Fair Value		Cost		Asset Type Classification
Mortgage loans	$	100,000	$	100,000	Mortgage loans
Acquisition loan		93,200		93,200	Other loans
Equity investments		3,300		3,300	Other assets
	$	196,500	$	196,500