Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of fair value by balance sheet groupings

We believe that the carrying values reflected in our consolidated balance sheets reasonably approximate the fair values for cash and cash equivalents, accounts receivable, escrow deposits, loans receivable, line of credit payable, term loans 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, mortgages payable and our senior notes and bonds payable, which are disclosed below (dollars in millions):

	Carrying value per		Estimated fair
At December 31, 2015	balance sheet		value
Notes receivable issued in connection with property sales	$	17.9	$	19.4
Mortgages payable assumed in connection with acquisitions, net	646.7		651.5
Notes and bonds payable, net of unamortized original issuance discounts	3,636.7		3,828.1

	Carrying value per		Estimated fair
At December 31, 2014	balance sheet		value
Notes receivable issued in connection with property sales	$	18.3	$	20.1
Mortgages payable assumed in connection with acquisitions, net	852.6		857.9
Notes and bonds payable, net of unamortized original issuance discounts	3,785.4		4,092.8