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Fair Value of Financial Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2013
Fair Value of Financial Assets and Liabilities  
Schedule of fair value by balance sheet groupings

We believe that the carrying values reflected on our consolidated balance sheets reasonably approximate the fair values for cash and cash equivalents, accounts receivable, escrow deposits, loans receivable, lines of credit payable, term loan and all other liabilities, due to their short-term nature or interest rates and terms that are consistent with market, except for our notes receivable issued in connection with property sales or acquired in connection with an acquisition, mortgages payable and our senior notes and bonds payable, which are disclosed below (dollars in millions):

 

 

 

Carrying value per

 

Estimated fair

 

At September 30, 2013

 

balance sheet

 

value

 

Notes receivable issued in connection with property sales

 

$

19.2

 

$

21.1

 

Note receivable issued in connection with an acquisition

 

8.8

 

8.8

 

Mortgages payable assumed in connection with acquisitions

 

811.1

 

798.1

 

Notes payable

 

3,200.0

 

3,369.1

 

 

 

 

 

 

 

 

 

Carrying value per

 

Estimated fair

 

At December 31, 2012

 

balance sheet

 

value

 

Notes receivable issued in connection with property sales

 

$

19.3

 

$

20.5

 

Note receivable issued in connection with an acquisition

 

8.8

 

8.8

 

Mortgages payable assumed in connection with acquisitions

 

175.9

 

176.7

 

Notes payable

 

2,550.0

 

2,827.1