Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE SECURITIES - Holdings in an Unrealized Loss Position (Details 1)

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INVESTMENTS IN REAL ESTATE SECURITIES - Holdings in an Unrealized Loss Position (Details 1) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2014
Securities in an Unrealized Loss Position Less than Twelve Months [Member]
Securities
Mar. 31, 2014
Securities in an Unrealized Loss Position Greater than Twelve Months [Member]
Securities
Mar. 31, 2014
Securities in a Loss Position [Member]
Securities
Outstanding face amount $ 2,866,311 [1]   $ 1,165,919 $ 47,733 $ 1,213,652
Before Impairment - Amortized Cost Basis     1,046,734 51,102 1,097,836
Other Than Temporary Impairment (1,793) (2,071) (1,090) (703) (1,793)
Amortized cost basis 2,335,293   1,045,644 [2] 50,399 [2] 1,096,043 [2]
Gross unrealized losses - less than twelve months     (8,843)    
Gross unrealized losses - twelve months or more       (322)  
Total gross unrealized losses         (9,165)
Carrying value - less than twelve months     1,036,801    
Carrying value - twelve months or more       50,077  
Carrying value $ 2,345,221       $ 1,086,878
Number of securities, less than twelve months     80    
Number of securities, greater than twelve months       8  
Number of securities         88
Weighted average rating     BBB [3] AAA [3] BBB+ [3]
Weighted average coupon 1.80%   1.90% 3.32% 1.96%
Weighted average yield     3.55% 1.40% 3.46%
Weighted average life (years)     6 years 2 months 12 days 3 years 6 months 6 years 1 month 6 days
[1] The total outstanding face amount was $584.0 million for fixed rate securities and $2.3 billion for floating rate securities.
[2] This amount represents other-than-temporary impairment recorded on securities that are in an unrealized loss position as of March 31, 2014.
[3] The rating of securities in an unrealized loss position for less than twelve months excludes the rating of one bond which has not been rated.