Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):



		December 31,
		2014				2013
	Level	Carrying Value		Fair Value		Carrying Value		Fair Value
Debt ^(a)	3	$	521,712	$	540,577	$	85,060	$	85,060
Note receivable ^(b)	3	28,000		28,000		—		—
Deferred acquisition fees payable^(c)	3	17,525		17,520		2,705		2,705

___________

(a)

We determined the estimated fair value of these financial instruments using a discounted cash flow model with rates that take into account the credit of the tenant/obligor and interest rate risk. We also considered the value of the underlying collateral taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity, and the current market interest rate.


(b)	We estimated that the fair value of the note receivable approximated its carrying value.

(c)

We determined the estimated fair value of our deferred acquisition fees based on an estimate of discounted cash flows using two significant unobservable inputs, which are the leverage adjusted unsecured spread and an illiquidity adjustment of 108 basis points and 75 basis points, respectively. Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement.