FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Carrying amounts and fair values of financial instruments

As of March 31, 2015 and December 31, 2014, the carrying amounts and fair values of our financial instruments were as follows:

	March 31, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Assets:
Cash and cash equivalents	$	120,225	$	120,225	$	55,348	$	55,348
Secured loans receivable, net	710,451		745,394		766,641		774,789
Unsecured loans receivable, net	35,307		37,185		21,862		23,164
Government-sponsored pooled loan investments	63,322		63,322		63,115		63,115
Marketable securities	77,350		77,350		76,046		76,046
Liabilities:
Senior notes payable and other debt, gross	11,584,842		12,181,893		10,872,371		11,197,131
Derivative instruments and other liabilities	1,740		1,740		2,743		2,743
Redeemable OP unitholder interests	248,129		248,129		159,134		159,134