Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Measurements [Abstract]

Estimate of fair value differs from the carrying amounts

	June 30, 2015				December 31, 2014
	Carrying Amounts		Estimated Fair Value		Carrying Amounts		Estimated Fair Value
Marketable securities (1)	$	24,251	$	24,305	$	90,235	$	90,035
Notes payable (2)	$	3,768,945	$	3,850,948	$	3,171,742	$	3,313,936
Mortgages payable (3)	$	1,768,827	$	1,815,721	$	1,424,228	$	1,481,138

(1) As of June 30, 2015 and December 31, 2014, the Company determined that $22.5 million and $87.7 million, respectively, of the Marketable securities estimated fair value were classified within Level 1 of the fair value hierarchy and the remaining $1.8 million and $2.3 million, respectively, were classified within Level 3 of the fair value hierarchy.

(2) The Company determined that its valuation of Notes payable was classified within Level 2 of the fair value hierarchy. 

(3) The Company determined that its valuation of Mortgages payable was classified within Level 3 of the fair value hierarchy. 

Schedule of financial assets measured at fair value

	Balance at June 30, 2015		Level 1		Level 2		Level 3
Assets:
Marketable equity securities	$	22,541	$	22,541	$	-	$	-
Liabilities:
Interest rate swaps (1)	$	1,349	$	-	$	1,349	$	-

	Balance at December 31, 2014		Level 1		Level 2		Level 3
Assets:
Marketable equity securities	$	87,659	$	87,659	$	-	$	-
Liabilities:
Interest rate swaps (1)	$	1,404	$	-	$	1,404	$	-

(1) Included in Other liabilities on the Company’s Condensed Consolidated Balance Sheets

Schedule of assets measured at fair value on non-recurring basis

	Balance at June 30, 2015		Level 1		Level 2		Level 3
Real estate	$	16,083	$	-	$	-	$	16,083
Other real estate investments		6,366		-		-		6,366

	Balance at December 31,  2014		Level 1		Level 2		Level 3
Real estate	$	80,270	$	-	$	-	$	80,270