Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

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

	As of						As of
	September 30, 2018						December 31, 2017
Asset (Liability)	Book Value			Fair Value			Book Value			Fair Value
Interest and rent receivables	$	87,939		$	87,067		$	78,970		$	78,028
Loans (1)		1,681,562			1,700,346			1,698,471			1,722,101
Debt, net		(4,043,849	)		(4,087,207	)		(4,898,667	)		(5,073,707	)

(1)

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

At September 30, 2018, these amounts were as follows (in thousands):

Asset Type	Fair Value		Original Cost		Asset Type Classification
Mortgage loans	$	115,000	$	115,000	Mortgage loans
Equity investment and other loans		108,373		117,260	Other loans/other assets
	$	223,373	$	232,260