Disclosure about Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of our financial instruments are as follows (in thousands):

	June 30, 2018				December 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Mortgage loans receivable	$	274,226	$	282,406	$	306,120	$	332,508
Other real estate loans receivable	106,869		110,486		121,379		125,480
Equity securities	21,903		21,903		7,269		7,269
Cash and cash equivalents	215,120		215,120		243,777		243,777
Restricted cash	57,263		57,263		65,526		65,526
Foreign currency forward contracts and cross currency swaps	104,729		104,729		15,604		15,604
Financial liabilities:
Borrowings under unsecured credit facilities	$	540,000	$	540,000	$	719,000	$	719,000
Senior unsecured notes	8,373,774		8,904,455		8,331,722		9,168,432
Secured debt	2,450,483		2,468,073		2,608,976		2,641,997
Foreign currency forward contracts and cross currency swaps	53,876		53,876		38,654		38,654
Redeemable OP unitholder interests	$	97,476	$	97,476	$	97,476	$	97,476

The Market approach utilized to measure fair value of financial assets and liabilities on recurring basis

The following summarizes items measured at fair value on a recurring basis (in thousands):

	Fair Value Measurements as of June 30, 2018
	Total		Level 1		Level 2		Level 3
Equity securities	$	21,903	$	21,903	$	—	$	—
Foreign currency forward contracts and cross currency swaps, net asset (liability)(1)	50,853		—		50,853		—
Redeemable OP unitholder interests	97,476		—		97,476		—
Totals	$	170,232	$	21,903	$	148,329	$	—

⁽¹⁾ Please see Note 11 for additional information.