FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2018

As of June 30, 2018 and December 31, 2017, the carrying amounts and fair values of our financial instruments were as follows:



	June 30, 2018				December 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Assets:
Cash and cash equivalents	$	93,684	$	93,684	$	81,355	$	81,355
Secured mortgage loans and other, net	466,632		445,194		1,291,694		1,286,322
Non-mortgage loans receivable, net	49,972		49,575		59,857		58,849
Marketable debt securities	203,760		203,760		—		—
Government-sponsored pooled loan investments	59,921		59,921		54,665		54,665
Derivative instruments	11,342		11,342		7,248		7,248
Liabilities:
Senior notes payable and other debt, gross	10,504,977		10,417,455		11,365,633		11,600,750
Derivative instruments	14,986		14,986		5,435		5,435
Redeemable OP Unitholder Interests	137,575		137,575		146,252		146,252