Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position (Details)

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INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position (Details)
$ in Thousands
3 Months Ended
Mar. 31, 2016
USD ($)
security
Dec. 31, 2015
USD ($)
Schedule of Available-for-sale Securities [Line Items]    
Outstanding Face Amount $ 5,766,333  
Other Than Temporary Impairment - Amortized Cost Basis (9,209) $ (6,239)
After Impairment - Amortized Cost Basis 3,453,043  
Carrying Value - Total $ 3,441,790  
Weighted Average Life (Years) 1 year 2 months 26 days  
Securities in an Unrealized Loss Position Less than Twelve Months [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Outstanding Face Amount $ 2,296,736  
Before Impairment - Amortized Cost Basis 1,054,378  
Other Than Temporary Impairment - Amortized Cost Basis [1] (3,070)  
After Impairment - Amortized Cost Basis 1,051,308  
Gross Unrealized Losses - Less than Twelve Months (31,030)  
Carrying Value - Less than Twelve Months $ 1,020,278  
Number of Securities - Less than Twelve Months | security 131  
Weighted Average Rating [2] B+  
Weighted Average Coupon 1.35%  
Weighted Average Yield 5.30%  
Weighted Average Life (Years) 8 years 11 months 15 days  
Securities in an Unrealized Loss Position Twelve Months or More [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Outstanding Face Amount $ 202,132  
Before Impairment - Amortized Cost Basis 166,905  
Other Than Temporary Impairment - Amortized Cost Basis [1] (184)  
After Impairment - Amortized Cost Basis 166,721  
Gross Unrealized Losses - Twelve or More Months (2,453)  
Carrying Value - Twelve or More Months $ 164,268  
Number of Securities - Twelve or More Months | security 31  
Weighted Average Rating [2] AA-  
Weighted Average Coupon 2.38%  
Weighted Average Yield 1.87%  
Weighted Average Life (Years) 6 years 8 months 13 days  
Securities in a Loss Position [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Outstanding Face Amount $ 2,498,868  
Before Impairment - Amortized Cost Basis 1,221,283  
Other Than Temporary Impairment - Amortized Cost Basis [1] (3,254)  
After Impairment - Amortized Cost Basis 1,218,029  
Gross Unrealized Losses - Total (33,483)  
Carrying Value - Total $ 1,184,546  
Number of Securities - Total | security 162  
Weighted Average Rating [2] BB-  
Weighted Average Coupon 1.50%  
Weighted Average Yield 4.83%  
Weighted Average Life (Years) 8 years 7 months 24 days  
[1] This amount represents OTTI recorded on securities that are in an unrealized loss position as of March 31, 2016.
[2] The weighted average rating of securities in an unrealized loss position for less than 12 months excludes the rating of 24 bonds which either have never been rated or for which rating information is no longer provided. The weighted average rating of securities in an unrealized loss position for 12 or more months excludes the rating of 2 bonds which either have never been rated or for which rating information is no longer provided.