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INVESTMENTS IN REAL ESTATE SECURITIES - UNREALIZED LOSS POSITION (Details 1) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2013
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| Outstanding face amount | $ 2,054,797 | [1] | ||||||||
| Amortized cost basis | 1,845,512 | [1] | ||||||||
| Weighted average rating | BBB | [1],[2] | ||||||||
| Weighted average coupon | 2.48% | [1] | ||||||||
| Weighted average yield | 2.48% | [1] | ||||||||
| Weighted average life (years) | 3 years 6 months | [1],[3] | ||||||||
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Securities in an Unrealized Loss Position Less than Twelve Months
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| Outstanding face amount | 1,015,349 | |||||||||
| Before Impairment - Amortized Cost Basis | 995,953 | |||||||||
| Other Than Temporary Impairment - Amortized Cost Basis | (2,653) | [4] | ||||||||
| Amortized cost basis | 993,300 | |||||||||
| Gross unrealized losses - less than twelve months | (13,676) | |||||||||
| Carrying value - less than twelve months | 979,624 | |||||||||
| Number of securities | 85 | |||||||||
| Weighted average rating | A | |||||||||
| Weighted average coupon | 2.72% | |||||||||
| Weighted average yield | 2.00% | |||||||||
| Weighted average life (years) | 3 years 2 months 12 days | |||||||||
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Securities in an Unrealized Loss Position Greater than Twelve Months
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| Outstanding face amount | 30,939 | |||||||||
| Before Impairment - Amortized Cost Basis | 33,451 | |||||||||
| Other Than Temporary Impairment - Amortized Cost Basis | (411) | [4] | ||||||||
| Amortized cost basis | 33,040 | |||||||||
| Gross unrealized losses - twelve months or more | (205) | |||||||||
| Carrying value - twelve months or more | 32,835 | |||||||||
| Number of securities | 4 | |||||||||
| Weighted average rating | AAA | |||||||||
| Weighted average coupon | 3.50% | |||||||||
| Weighted average yield | 1.28% | |||||||||
| Weighted average life (years) | 2 years 7 months 6 days | |||||||||
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Securities in a Loss Position
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| Outstanding face amount | 1,046,288 | |||||||||
| Before Impairment - Amortized Cost Basis | 1,029,404 | |||||||||
| Other Than Temporary Impairment - Amortized Cost Basis | (3,064) | [4] | ||||||||
| Amortized cost basis | 1,026,340 | |||||||||
| Total gross unrealized losses | (13,881) | |||||||||
| Total fair value | $ 1,012,459 | |||||||||
| Number of securities | 89 | |||||||||
| Weighted average rating | A | |||||||||
| Weighted average coupon | 2.74% | |||||||||
| Weighted average yield | 1.98% | |||||||||
| Weighted average life (years) | 3 years 2 months 12 days | |||||||||
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