Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value

The table below presents certain of our assets and liabilities measured at fair value during 2014, categorized by the level of inputs used in the valuation of each asset and liability (dollars in thousands):

				Fair Value at Reporting Date Using
				Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Unobservable Inputs
Description	Total			(Level 1)		(Level 2)			(Level 3)
Recurring Fair Value Measurements:
Effective portion of interest rate swap contracts	$	(8,274	)	$	—	$	(8,274	)	$	—
Derivative liability	(7,002		)	—		—			(7,002		)
Non-Recurring Fair Value Measurements:
Properties held and used	$	19,589		$	—	$	—		$	19,589

Schedule of valuation techniques and significant unobservable inputs used for level 3 fair value measurements

The valuation techniques and significant unobservable inputs used for our level 3 fair value measurement at September 30, 2014 were as follows:

Description	Fair Value at September 30, 2014			Primary Valuation  Techniques	Unobservable Inputs	Rate
Derivative liability	$	(7,002	)	Monte Carlo	Risk-free rate	0.51%
				simulation	Volatility	25.0%

The valuation techniques and significant unobservable inputs used for our level 3 fair value measurements at June 30, 2014 were as follows:

Description	Fair Value at June 30, 2014		Primary Valuation  Techniques	Unobservable Inputs	Rate
Properties held and used on which we recognized impairment			Discounted	Discount rate	8%
losses	$	19,589	cash flows	Exit capitalization rate	8%

Fair value and carrying value of financial instruments

At September 30, 2014, the fair value of these additional financial instruments, excluding mortgage debt related to properties held for sale, were not materially different from their carrying values, except as follows (in thousands):

	September 30, 2014
	Carrying Amount		Fair Value
Senior unsecured debt and mortgage notes payable, net	$	2,442,942	$	2,495,991