Disclosure about Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Carrying amounts and estimated fair values of financial instruments

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

	December 31, 2018				December 31, 2017
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Mortgage loans receivable	$	249,071	$	257,337	$	306,120	$	332,508
Other real estate loans receivable	81,268		82,742		121,379		125,480
Equity securities	11,286		11,286		7,269		7,269
Cash and cash equivalents	215,376		215,376		243,777		243,777
Restricted cash	100,753		100,753		65,526		65,526
Foreign currency forward contracts and cross currency swaps	94,729		94,729		15,604		15,604
Financial liabilities:
Borrowings under unsecured credit facilities	$	1,147,000	$	1,147,000	$	719,000	$	719,000
Senior unsecured notes	9,603,299		10,043,797		8,331,722		9,168,432
Secured debt	2,476,177		2,499,130		2,608,976		2,641,997
Foreign currency forward contracts and cross currency swaps	71,109		71,109		38,654		38,654
Redeemable OP unitholder interests	$	103,071	$	103,071	$	97,476	$	97,476

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

The following summarizes items measured at fair value on a recurring basis (in thousands):

	Fair Value Measurements as of December 31, 2018
	Total		Level 1		Level 2		Level 3
Equity securities	$	11,286	$	11,286	$	—	$	—
Foreign currency forward contracts and cross currency swaps, net asset (liability)(1)	23,620		—		23,620		—
Redeemable OP unitholder interests	103,071		—		103,071		—
Totals	$	137,977	$	11,286	$	126,691	$	—

(1) Please see Note 11 for additional information.