Disclosure about Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 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):

	September 30, 2018				December 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Mortgage loans receivable	$	266,286	$	273,620	$	306,120	$	332,508
Other real estate loans receivable	74,538		75,091		121,379		125,480
Equity securities	12,912		12,912		7,269		7,269
Cash and cash equivalents	191,199		191,199		243,777		243,777
Restricted cash	90,086		90,086		65,526		65,526
Foreign currency forward contracts and cross currency swaps	34,902		34,902		15,604		15,604
Financial liabilities:
Borrowings under unsecured credit facilities	$	1,312,000	$	1,312,000	$	719,000	$	719,000
Senior unsecured notes	9,655,022		10,169,806		8,331,722		9,168,432
Secured debt	2,465,661		2,464,635		2,608,976		2,641,997
Foreign currency forward contracts and cross currency swaps	78,566		78,566		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 September 30, 2018
	Total			Level 1		Level 2			Level 3
Equity securities	$	12,912		$	12,912	$	—		$	—
Foreign currency forward contracts and cross currency swaps, net asset (liability)(1)	(43,664		)	—		(43,664		)	—
Redeemable OP unitholder interests	97,476			—		97,476			—
Totals	$	66,724		$	12,912	$	53,812		$	—

⁽¹⁾ Please see Note 11 for additional information.