Disclosure about Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure about Fair Value of Financial Instruments (Tables) [Abstract]

Carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of our financial instruments are as follows (in thousands):

		December 31, 2014				December 31, 2013
		Carrying		Fair		Carrying		Fair
		Amount		Value		Amount		Value
Financial Assets:
	Mortgage loans receivable	$	188,651	$	194,935	$	146,987	$	148,088
	Other real estate loans receivable		191,518		195,375		185,159		188,920
	Available-for-sale equity investments		-		-		1,211		1,211
	Cash and cash equivalents		473,726		473,726		158,780		158,780
	Foreign currency forward contracts		57,087		57,087		-		-
Financial Liabilities:
	Borrowings under unsecured lines of credit arrangements	$	-	$	-	$	130,000	$	130,000
	Senior unsecured notes		7,766,251		8,613,702		7,379,308		7,743,730
	Secured debt		2,977,713		3,053,067		3,058,248		3,168,775
	Foreign currency forward contracts		1,495		1,495		11,637		11,637
Redeemable OP unitholder interests		$	46,722	$	46,722	$	-	$	-

The Market approach utilized to measure fair value of financial assets and liabilities on recurring basis

	Fair Value Measurements as of December 31, 2014
	Total		Level 1		Level 2		Level 3
Foreign currency forward contracts(1)	$	55,592	$	-	$	55,592	$	-
Redeemable OP unitholder interests		46,722		-		46,722		-
Totals	$	102,314	$	-	$	102,314	$	-
(1) Please see Note 11 for additional information.