Fair Values (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes our assets and liabilities measured at fair value on a recurring basis ($ in thousands):

	June 30, 2020								December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Derivatives	$	—	$	327	$	—	$	327	$	—	$	1,079	$	—	$	1,079
Liabilities
Derivatives	$	—	$	26,164	$	—	$	26,164	$	—	$	42,263	$	—	$	42,263

Schedule of Details of Carrying Amount, Face Amount, and Fair Value of Financial Instruments

The following table details the book value, face amount, and fair value of the financial instruments described in Note 2 ($ in thousands):

	June 30, 2020						December 31, 2019
	Book		Face		Fair		Book		Face		Fair
	Value		Amount		Value		Value		Amount		Value
Financial assets
Cash and cash equivalents	$	1,259,836	$	1,259,836	$	1,259,836	$	150,090	$	150,090	$	150,090
Loans receivable, net		16,161,353		16,434,631		16,214,574		16,164,801		16,277,343		16,279,904
Debt securities held-to-maturity(1)		75,836		82,002		68,940		86,638		88,958		88,305
Financial liabilities
Secured debt agreements, net		9,689,541		9,716,452		9,716,452		10,054,930		10,083,938		10,083,938
Securitized debt obligations, net		2,240,612		2,253,008		2,172,578		1,187,084		1,189,642		1,189,368
Secured term loans, net		1,045,163		1,068,134		1,012,228		736,142		746,878		750,769
Convertible notes, net		614,710		622,500		580,810		613,071		622,500		665,900

(1)  Included in other assets on our consolidated balance sheets.