Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities at Fair Value on Recurring Basis
The following table sets forth the Company’s financial liabilities that were accounted for at fair value on a recurring basis (in thousands):
 
 
 
Fair Value Hierarchy Level
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
June 30, 2015
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
Interest rate swaps financial liabilities
$
(1,152
)
 
$
—

 
$
(1,152
)
 
$
—

December 31, 2014
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
Interest rate swaps financial liabilities
$
(1,122
)
 
$
—

 
$
(1,122
)
 
$
—
Schedule of Assets at Fair Value on Nonrecurring Basis
Fair value measurement of an asset on a nonrecurring basis occurs when events or changes in circumstances related to an asset indicate that the carrying amount of the asset is no longer recoverable. The following table sets forth the Company’s assets that were accounted for at fair value on a nonrecurring basis (in thousands):
 
 
 
 
 
Fair Value Hierarchy Level
 
Impairment
Charges (1)
Description
Fair Value
 
Dispositions
 
Level 1
 
Level 2
 
Level 3
 
June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Long-lived assets held and used
$
32,671

 
$
(3,207
)
 
$
—

 
$
—

 
$
35,878

 
$
(26,110
)
Lease intangible assets
2,303

 
—

 
—

 
—

 
2,303

 
(1,493
)
Long-lived assets held for sale
42,047

 
(1,096
)
 
—

 
—

 
43,143

 
(7,821
)
 
 
 
 
 
 
 
 
 
 
 
$
(35,424
)
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Long-lived assets held and used
$
37,278

 
$
—

 
$
—

 
$
—

 
$
37,278

 
$
(20,679
)
Lease intangible assets
10,013

 
—

 
—

 
—

 
10,013

 
4,317

Long-lived assets held for sale
65,958

 
(26,721
)
 
—

 
—

 
92,679

 
(20,074
)
 
 
 
 
 
 
 
 
 
 
 
$
(36,436
)

(1) Impairment charges are presented for the six months ended June 30, 2015 and for the year ended December 31, 2014.
Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments
The following table discloses fair value information for these financial instruments (in thousands): 
 
June 30, 2015
 
December 31, 2014
 
Carrying
Value
 
Estimated
Fair Value
 
Carrying
Value
 
Estimated
Fair Value
Loans receivable, net
$
109,377

 
$
115,735

 
$
109,425

 
$
115,747

Revolving Credit Facilities, net (1)
20,000

 
19,405

 
15,114

 
15,254

Mortgages and notes payable, net (2)
3,291,679

 
3,467,272

 
3,629,998

 
3,899,950

Convertible Notes, net (2)
684,066

 
700,170

 
678,190

 
729,231


(1) As of December 31, 2014, only amounts under the Line of Credit were outstanding and net of unamortized deferred financing costs. As of June 30, 2015, only amounts under the 2015 Credit Facility were outstanding.
(2) The carrying value of the debt instruments are net of unamortized deferred financing costs and certain debt discounts/premiums.