XML 89 R58.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Hierarchy for Financial Instruments Not Fair Valued but For Which Fair Value Is Required To Be Disclosed (Detail) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Carrying Amount    
Commercial mortgages, mezzanine loans and other loans, Carrying Amount $ 1,323,677 $ 1,122,377
Carrying Amount 2,417,170 2,086,401
Estimated Fair Value    
Junior subordinated notes 12,740 11,911
CDO notes payable, Estimated Fair Value 413,187 377,235
Estimated Fair Value
    
Estimated Fair Value    
Commercial mortgages, mezzanine loans and other loans, Estimated Fair Value 1,250,653 1,083,118
Carrying Amount
    
Carrying Amount    
Commercial mortgages, mezzanine loans and other loans, Carrying Amount 1,308,341 1,122,377
7.0% convertible senior notes | Estimated Fair Value
    
Estimated Fair Value    
Convertible senior notes, Estimated Fair Value 45,819 47,778
7.0% convertible senior notes | Carrying Amount
    
Carrying Amount    
Carrying Amount 33,178 32,938
4.0% Convertible Senior Notes | Estimated Fair Value
    
Estimated Fair Value    
Convertible senior notes, Estimated Fair Value 137,918 124,063
4.0% Convertible Senior Notes | Carrying Amount
    
Carrying Amount    
Carrying Amount 133,086 116,184
Junior subordinated notes, at amortized cost | Estimated Fair Value
    
Estimated Fair Value    
Junior subordinated notes 14,468 14,007
Junior subordinated notes, at amortized cost | Carrying Amount
    
Carrying Amount    
Carrying Amount 25,100 25,100
CDO notes payable, at amortized cost | Estimated Fair Value
    
Estimated Fair Value    
CDO notes payable, Estimated Fair Value 935,577 724,885
CDO notes payable, at amortized cost | Carrying Amount
    
Carrying Amount    
Carrying Amount 1,101,867 1,202,772
CMBS securitizations | Estimated Fair Value
    
Estimated Fair Value    
CDO notes payable, Estimated Fair Value 235,004 100,214
CMBS securitizations | Carrying Amount
    
Carrying Amount    
Carrying Amount 235,232 100,139
Loans payable on real estate | Estimated Fair Value
    
Estimated Fair Value    
Loans payable on real estate, Estimated Fair Value 317,005 176,979
Loans payable on real estate | Carrying Amount
    
Carrying Amount    
Carrying Amount 313,739 171,244
7.625% senior notes due 2024 | Estimated Fair Value
    
Estimated Fair Value    
Senior notes, Estimated Fair Value 59,472  
7.625% senior notes due 2024 | Carrying Amount
    
Carrying Amount    
Carrying Amount 60,000  
Quoted Prices in Active Markets for Identical Assets (Level 1)
    
Estimated Fair Value    
Commercial mortgages, mezzanine loans and other loans, Estimated Fair Value 0 0
Junior subordinated notes 0 [1] 0 [2]
CDO notes payable, Estimated Fair Value 0 [1] 0 [2]
Quoted Prices in Active Markets for Identical Assets (Level 1) | 7.0% convertible senior notes
    
Estimated Fair Value    
Convertible senior notes, Estimated Fair Value 45,819 47,778
Quoted Prices in Active Markets for Identical Assets (Level 1) | 4.0% Convertible Senior Notes
    
Estimated Fair Value    
Convertible senior notes, Estimated Fair Value 137,918 124,063
Quoted Prices in Active Markets for Identical Assets (Level 1) | Junior subordinated notes, at amortized cost
    
Estimated Fair Value    
Junior subordinated notes 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | CDO notes payable, at amortized cost
    
Estimated Fair Value    
CDO notes payable, Estimated Fair Value 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | CMBS securitizations
    
Estimated Fair Value    
CDO notes payable, Estimated Fair Value 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Loans payable on real estate
    
Estimated Fair Value    
Loans payable on real estate, Estimated Fair Value 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | 7.625% senior notes due 2024
    
Estimated Fair Value    
Senior notes, Estimated Fair Value 59,472  
Significant Other Observable Inputs (Level 2)
    
Estimated Fair Value    
Commercial mortgages, mezzanine loans and other loans, Estimated Fair Value 0 0
Junior subordinated notes 0 [1] 0 [2]
CDO notes payable, Estimated Fair Value 0 [1] 0 [2]
Significant Other Observable Inputs (Level 2) | 7.0% convertible senior notes
    
Estimated Fair Value    
Convertible senior notes, Estimated Fair Value 0 0
Significant Other Observable Inputs (Level 2) | 4.0% Convertible Senior Notes
    
Estimated Fair Value    
Convertible senior notes, Estimated Fair Value 0 0
Significant Other Observable Inputs (Level 2) | Junior subordinated notes, at amortized cost
    
Estimated Fair Value    
Junior subordinated notes 0 0
Significant Other Observable Inputs (Level 2) | CDO notes payable, at amortized cost
    
Estimated Fair Value    
CDO notes payable, Estimated Fair Value 0 0
Significant Other Observable Inputs (Level 2) | CMBS securitizations
    
Estimated Fair Value    
CDO notes payable, Estimated Fair Value 0 0
Significant Other Observable Inputs (Level 2) | Loans payable on real estate
    
Estimated Fair Value    
Loans payable on real estate, Estimated Fair Value 0 0
Significant Other Observable Inputs (Level 2) | 7.625% senior notes due 2024
    
Estimated Fair Value    
Senior notes, Estimated Fair Value 0  
Significant Unobservable Inputs (Level 3)
    
Estimated Fair Value    
Commercial mortgages, mezzanine loans and other loans, Estimated Fair Value 1,250,653 1,083,118
Junior subordinated notes 12,740 [1] 11,911 [2]
CDO notes payable, Estimated Fair Value 413,187 [1] 377,235 [2]
Significant Unobservable Inputs (Level 3) | 7.0% convertible senior notes
    
Estimated Fair Value    
Convertible senior notes, Estimated Fair Value 0 0
Significant Unobservable Inputs (Level 3) | 4.0% Convertible Senior Notes
    
Estimated Fair Value    
Convertible senior notes, Estimated Fair Value 0 0
Significant Unobservable Inputs (Level 3) | Junior subordinated notes, at amortized cost
    
Estimated Fair Value    
Junior subordinated notes 14,468 14,007
Significant Unobservable Inputs (Level 3) | CDO notes payable, at amortized cost
    
Estimated Fair Value    
CDO notes payable, Estimated Fair Value 935,577 724,885
Significant Unobservable Inputs (Level 3) | CMBS securitizations
    
Estimated Fair Value    
CDO notes payable, Estimated Fair Value 235,004 100,214
Significant Unobservable Inputs (Level 3) | Loans payable on real estate
    
Estimated Fair Value    
Loans payable on real estate, Estimated Fair Value 317,005 176,979
Significant Unobservable Inputs (Level 3) | 7.625% senior notes due 2024
    
Estimated Fair Value    
Senior notes, Estimated Fair Value $ 0  
[1] During the six-month period ended June 30, 2014, there were no transfers between Level 1 and Level 2, as well as, there were no transfers into and out of Level 3.
[2] During the year ended December 31, 2013, there were no transfers between Level 1 and Level 2, as well as, there were no transfers into and out of Level 3.