Fair Value Measurements (Tables)
 9 Months Ended
Sep. 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
September 30, 2015
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
Interest rate swaps financial liabilities
$
(1,662
)
 
$
—

 
$
(1,662
)
 
$
—

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
 
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Long-lived assets held and used
$
37,589

 
$
(3,207
)
 
$
—

 
$
—

 
$
40,796

 
$
(41,294
)
Lease intangible assets
4,294

 
—

 
—

 
—

 
4,294

 
(3,730
)
Other assets
—

 
—

 
—

 
—

 
—

 
(338
)
Long-lived assets held for sale
18,583

 
(30,954
)
 
—

 
—

 
49,537

 
(10,894
)
 
 
 
 
 
 
 
 
 
 
 
$
(56,256
)
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 nine months ended September 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): 
 
September 30, 2015
 
December 31, 2014
 
Carrying
Value
 
Estimated
Fair Value
 
Carrying
Value
 
Estimated
Fair Value
Loans receivable, net
$
106,944

 
$
112,999

 
$
109,425

 
$
115,747

Revolving Credit Facilities, net (1)
75,000

 
79,067

 
15,114

 
15,254

Mortgages and notes payable, net (2)
3,242,922

 
3,435,150

 
3,629,998

 
3,899,950

Convertible Notes, net (2)
687,062

 
690,975

 
678,190

 
729,231


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