Quarterly report pursuant to Section 13 or 15(d)

GAIN (LOSSES) ON SETTLEMENT OF INVESTMENTS, NET AND OTHER INCOME (LOSS), NET

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GAIN (LOSSES) ON SETTLEMENT OF INVESTMENTS, NET AND OTHER INCOME (LOSS), NET
6 Months Ended
Jun. 30, 2011
GAIN (LOSSES) ON SETTLEMENT OF INVESTMENTS, NET AND OTHER INCOME (LOSS), NET

9. GAIN (LOSSES) ON SETTLEMENT OF INVESTMENTS, NET AND OTHER INCOME (LOSS), NET

These items are comprised of the following:

 

     Three Months Ended June 30,     Six Months Ended June 30,  
     2011     2010     2011     2010  

Gain (loss) on settlement of investments, net

        

Gain on settlement of real estate securities

   $ 38,778      $ 14,289      $ 72,935      $ 28,106   

Loss on settlement of real estate securities

     (3,238     (5,335     (5,023     (6,196

Gain on repayment/disposition of loans held for sale

     66        —          1,786        —     

Realized gain (loss) on termination of derivative instruments

     —          —          —          (3,279
  

 

 

   

 

 

   

 

 

   

 

 

 
   $ 35,606      $ 8,954      $ 69,698      $ 18,631   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other income (loss), net

        

Gain (loss) on non-hedge derivative instruments

   $ (2,528   $ (2,383   $ 2,303      $ (4,131

Unrealized (loss) recognized at de-designation of hedges

     (8,481     —          (13,796     —     

Hedge ineffectiveness

     17        (167     300        (168

Equity in earnings of equity method investees

     —          (7     —          78   

Collateral management fee income

     832        125        1,368        259   

Other income (loss)

     —          134        —          184   
  

 

 

   

 

 

   

 

 

   

 

 

 
   $ (10,160   $ (2,298   $ (9,825   $ (3,778