Fair Values (Tables)

3 Months Ended

Mar. 31, 2021

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):

	March 31, 2021								December 31, 2020
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Derivatives	$	—	$	31,789	$	—	$	31,789	$	—	$	522	$	—	$	522
Liabilities
Derivatives	$	—	$	13,466	$	—	$	13,466	$	—	$	58,915	$	—	$	58,915

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):

	March 31, 2021						December 31, 2020
	Book Value		Face Amount		Fair Value		Book Value		Face Amount		Fair Value
Financial assets
Cash and cash equivalents	$	280,126	$	280,126	$	280,126	$	289,970	$	289,970	$	289,970
Loans receivable, net		16,888,002		17,143,102		16,954,287		16,399,166		16,652,824		16,447,192
Debt securities held-to-maturity(1)		76,708		79,200		73,667		75,722		79,200		70,127
Financial liabilities
Secured debt agreements, net		8,124,787		8,142,728		8,142,728		7,880,536		7,896,863		7,896,863
Securitized debt obligations, net		2,875,241		2,891,785		2,890,537		2,922,499		2,940,638		2,923,489
Asset-specific debt agreements, net		430,448		438,433		438,433		391,269		399,699		399,699
Secured term loans, net		1,235,808		1,259,575		1,250,356		1,041,704		1,062,766		1,053,060
Convertible notes, net		617,242		622,500		639,223		616,389		622,500		621,568

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