|
Schedule of Debt Obligations (Details) (USD $)
In Thousands, unless otherwise specified
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
BPM Senior Living Facilities
|
|
|
| Month Issued |
Jul 2012
|
|
| Outstanding Face Amount |
$ 88,400
|
|
| Carrying Value |
88,400
|
|
| Final Stated Maturity |
Aug 2019
|
|
| Unhedged Weighted Average Funding Cost (A) |
3.44%
|
|
| Weighted Average Funding Cost (B) |
3.44%
|
|
| Weighted Average Maturity (Years) |
6.2
|
|
| Face Amount of Floating Rate Debt |
23,400
|
|
| Outstanding Face Amount of Collateral (C) |
N/A
|
|
| Amortized Cost Basis of Collateral (C) |
138,131
|
|
| Carrying Value of Collateral (C) |
138,131
|
|
| Weighted Average Maturity (Years) Of Collateral |
N/A
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
23,400
|
|
|
RLG Senior Living Facilities
|
|
|
| Month Issued |
Nov 2012
|
|
| Outstanding Face Amount |
16,000
|
|
| Carrying Value |
16,000
|
|
| Final Stated Maturity |
Oct 2017
|
|
| Unhedged Weighted Average Funding Cost (A) |
LIBOR + 3.75%; LIBOR floor of 1%
|
|
| Weighted Average Funding Cost (B) |
4.75%
|
|
| Weighted Average Maturity (Years) |
4.8
|
|
| Face Amount of Floating Rate Debt |
16,000
|
|
| Outstanding Face Amount of Collateral (C) |
N/A
|
|
| Amortized Cost Basis of Collateral (C) |
22,262
|
|
| Carrying Value of Collateral (C) |
22,262
|
|
| Weighted Average Maturity (Years) Of Collateral |
N/A
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
Courtyard Senior Living Facilities
|
|
|
| Month Issued |
Dec 2012
|
|
| Outstanding Face Amount |
16,125
|
|
| Carrying Value |
16,125
|
|
| Final Stated Maturity |
Oct 2017
|
|
| Unhedged Weighted Average Funding Cost (A) |
LIBOR + 3.75%; LIBOR floor of 1%
|
|
| Weighted Average Funding Cost (B) |
4.75%
|
|
| Weighted Average Maturity (Years) |
4.8
|
|
| Face Amount of Floating Rate Debt |
16,125
|
|
| Outstanding Face Amount of Collateral (C) |
N/A
|
|
| Amortized Cost Basis of Collateral (C) |
21,494
|
|
| Carrying Value of Collateral (C) |
21,494
|
|
| Weighted Average Maturity (Years) Of Collateral |
N/A
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
CDO IV Bonds Payable
|
|
|
| Month Issued |
Mar 2004
|
|
| Outstanding Face Amount |
79,898
|
106,645
|
| Carrying Value |
79,811
|
106,454
|
| Final Stated Maturity |
Mar 2039
|
|
| Unhedged Weighted Average Funding Cost (A) |
1.83%
|
|
| Weighted Average Funding Cost (B) |
5.02%
|
|
| Weighted Average Maturity (Years) |
1.3
|
|
| Face Amount of Floating Rate Debt |
69,098
|
|
| Outstanding Face Amount of Collateral (C) |
168,111
|
|
| Amortized Cost Basis of Collateral (C) |
155,646
|
|
| Carrying Value of Collateral (C) |
151,250
|
|
| Weighted Average Maturity (Years) Of Collateral |
1.9
|
|
| Floating Rate Face Amount of Collateral (C) |
43,202
|
|
| Aggregate Notional Amount of Current Hedges |
69,098
|
|
|
CDO VI Bonds Payable
|
|
|
| Month Issued |
Apr 2005
|
|
| Outstanding Face Amount |
91,578
|
91,141
|
| Carrying Value |
91,578
|
91,141
|
| Final Stated Maturity |
Apr 2040
|
|
| Unhedged Weighted Average Funding Cost (A) |
0.87%
|
|
| Weighted Average Funding Cost (B) |
5.35%
|
|
| Weighted Average Maturity (Years) |
4.8
|
|
| Face Amount of Floating Rate Debt |
88,495
|
|
| Outstanding Face Amount of Collateral (C) |
180,039
|
|
| Amortized Cost Basis of Collateral (C) |
92,932
|
|
| Carrying Value of Collateral (C) |
119,184
|
|
| Weighted Average Maturity (Years) Of Collateral |
3.1
|
|
| Floating Rate Face Amount of Collateral (C) |
49,393
|
|
| Aggregate Notional Amount of Current Hedges |
88,495
|
|
|
CDO VIII Bonds Payable
|
|
|
| Month Issued |
Nov 2006
|
|
| Outstanding Face Amount |
518,501
|
577,133
|
| Carrying Value |
517,541
|
575,736
|
| Final Stated Maturity |
Nov 2052
|
|
| Unhedged Weighted Average Funding Cost (A) |
0.78%
|
|
| Weighted Average Funding Cost (B) |
2.20%
|
|
| Weighted Average Maturity (Years) |
2.4
|
|
| Face Amount of Floating Rate Debt |
510,901
|
|
| Outstanding Face Amount of Collateral (C) |
707,189
|
|
| Amortized Cost Basis of Collateral (C) |
523,202
|
|
| Carrying Value of Collateral (C) |
551,058
|
|
| Weighted Average Maturity (Years) Of Collateral |
2.9
|
|
| Floating Rate Face Amount of Collateral (C) |
385,978
|
|
| Aggregate Notional Amount of Current Hedges |
154,450
|
|
|
CDO IX Bonds Payable
|
|
|
| Month Issued |
May 2007
|
|
| Outstanding Face Amount |
400,938
|
480,125
|
| Carrying Value |
402,424
|
482,329
|
| Final Stated Maturity |
May 2052
|
|
| Unhedged Weighted Average Funding Cost (A) |
0.59%
|
|
| Weighted Average Funding Cost (B) |
0.59%
|
|
| Weighted Average Maturity (Years) |
2.3
|
|
| Face Amount of Floating Rate Debt |
400,938
|
|
| Outstanding Face Amount of Collateral (C) |
637,873
|
|
| Amortized Cost Basis of Collateral (C) |
517,982
|
|
| Carrying Value of Collateral (C) |
527,903
|
|
| Weighted Average Maturity (Years) Of Collateral |
3.2
|
|
| Floating Rate Face Amount of Collateral (C) |
326,849
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
CDO X Bonds Payable
|
|
|
| Month Issued |
Jul 2007
|
|
| Outstanding Face Amount |
|
1,150,000
|
| Carrying Value |
|
1,147,945
|
| Final Stated Maturity |
Jul 2052
|
|
| Unhedged Weighted Average Funding Cost (A) |
N/A
|
|
| Weighted Average Maturity (Years) |
|
|
| Face Amount of Floating Rate Debt |
|
|
| Outstanding Face Amount of Collateral (C) |
|
|
| Amortized Cost Basis of Collateral (C) |
|
|
| Carrying Value of Collateral (C) |
|
|
| Weighted Average Maturity (Years) Of Collateral |
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
Total CDO Bonds Payable
|
|
|
| Outstanding Face Amount |
1,090,915
|
2,405,044
|
| Carrying Value |
1,091,354
|
2,403,605
|
| Weighted Average Funding Cost (B) |
2.08%
|
|
| Weighted Average Maturity (Years) |
2.5
|
|
| Face Amount of Floating Rate Debt |
1,069,432
|
|
| Outstanding Face Amount of Collateral (C) |
1,693,212
|
|
| Amortized Cost Basis of Collateral (C) |
1,289,762
|
|
| Carrying Value of Collateral (C) |
1,349,395
|
|
| Weighted Average Maturity (Years) Of Collateral |
2.9
|
|
| Floating Rate Face Amount of Collateral (C) |
805,422
|
|
| Aggregate Notional Amount of Current Hedges |
312,043
|
|
|
MH Loans Portfolio I Bonds and Notes Payable
|
|
|
| Month Issued |
Apr 2010
|
|
| Outstanding Face Amount |
70,056
|
70,109
|
| Carrying Value |
66,199
|
69,256
|
| Final Stated Maturity |
Jul 2035
|
|
| Unhedged Weighted Average Funding Cost (A) |
6.25%
|
|
| Weighted Average Funding Cost (B) |
6.25%
|
|
| Weighted Average Maturity (Years) |
4.2
|
|
| Face Amount of Floating Rate Debt |
|
|
| Outstanding Face Amount of Collateral (C) |
118,746
|
|
| Amortized Cost Basis of Collateral (C) |
100,124
|
|
| Carrying Value of Collateral (C) |
100,124
|
|
| Weighted Average Maturity (Years) Of Collateral |
6.8
|
|
| Floating Rate Face Amount of Collateral (C) |
909
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
MH Loans Portfolio II Bonds and Notes Payable
|
|
|
| Month Issued |
May 2011
|
|
| Outstanding Face Amount |
117,907
|
126,856
|
| Carrying Value |
117,191
|
125,630
|
| Final Stated Maturity |
Dec 2033
|
|
| Unhedged Weighted Average Funding Cost (A) |
4.40%
|
|
| Weighted Average Funding Cost (B) |
4.40%
|
|
| Weighted Average Maturity (Years) |
3.9
|
|
| Face Amount of Floating Rate Debt |
|
|
| Outstanding Face Amount of Collateral (C) |
153,193
|
|
| Amortized Cost Basis of Collateral (C) |
150,123
|
|
| Carrying Value of Collateral (C) |
150,123
|
|
| Weighted Average Maturity (Years) Of Collateral |
5.6
|
|
| Floating Rate Face Amount of Collateral (C) |
25,727
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
Residential Mortgage Loans
|
|
|
| Month Issued |
Aug 2006
|
|
| Outstanding Face Amount |
|
5,491
|
| Carrying Value |
|
5,491
|
| Final Stated Maturity |
N/A
|
|
| Unhedged Weighted Average Funding Cost (A) |
N/A
|
|
| Weighted Average Funding Cost (B) |
|
|
| Weighted Average Maturity (Years) |
|
|
| Face Amount of Floating Rate Debt |
|
|
| Outstanding Face Amount of Collateral (C) |
|
|
| Amortized Cost Basis of Collateral (C) |
|
|
| Carrying Value of Collateral (C) |
|
|
| Weighted Average Maturity (Years) Of Collateral |
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
Total Other Bonds And Notes Payable
|
|
|
| Outstanding Face Amount |
187,963
|
202,456
|
| Carrying Value |
183,390
|
200,377
|
| Weighted Average Funding Cost (B) |
5.07%
|
|
| Weighted Average Maturity (Years) |
4.0
|
|
| Face Amount of Floating Rate Debt |
|
|
| Outstanding Face Amount of Collateral (C) |
271,939
|
|
| Amortized Cost Basis of Collateral (C) |
250,247
|
|
| Carrying Value of Collateral (C) |
250,247
|
|
| Weighted Average Maturity (Years) Of Collateral |
6.1
|
|
| Floating Rate Face Amount of Collateral (C) |
26,636
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
CDO Securities Repurchase Agreements
|
|
|
| Month Issued |
Dec 2012
|
|
| Outstanding Face Amount |
5,658
|
8,728
|
| Carrying Value |
5,658
|
8,728
|
| Final Stated Maturity |
Mar 2013
|
|
| Unhedged Weighted Average Funding Cost (A) |
LIBOR + 2.25%
|
|
| Weighted Average Funding Cost (B) |
2.46%
|
|
| Weighted Average Maturity (Years) |
0.2
|
|
| Face Amount of Floating Rate Debt |
5,658
|
|
| Outstanding Face Amount of Collateral (C) |
|
|
| Amortized Cost Basis of Collateral (C) |
|
|
| Carrying Value of Collateral (C) |
|
|
| Weighted Average Maturity (Years) Of Collateral |
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
Non-agency RMBS Repurchase Agreements
|
|
|
| Month Issued |
Various
|
|
| Outstanding Face Amount |
150,922
|
|
| Carrying Value |
150,922
|
|
| Final Stated Maturity |
Jan 2013
|
|
| Unhedged Weighted Average Funding Cost (A) |
LIBOR + 2.00%
|
|
| Weighted Average Funding Cost (B) |
2.21%
|
|
| Weighted Average Maturity (Years) |
0.1
|
|
| Face Amount of Floating Rate Debt |
150,922
|
|
| Outstanding Face Amount of Collateral (C) |
344,177
|
|
| Amortized Cost Basis of Collateral (C) |
215,212
|
|
| Carrying Value of Collateral (C) |
228,493
|
|
| Weighted Average Maturity (Years) Of Collateral |
6.9
|
|
| Floating Rate Face Amount of Collateral (C) |
344,177
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
FNMA/FHLMC Securities
|
|
|
| Month Issued |
Various
|
|
| Outstanding Face Amount |
772,855
|
231,012
|
| Carrying Value |
772,855
|
231,012
|
| Final Stated Maturity |
Various
|
|
| Unhedged Weighted Average Funding Cost (A) |
0.53%
|
|
| Weighted Average Funding Cost (B) |
0.53%
|
|
| Weighted Average Maturity (Years) |
0.1
|
|
| Face Amount of Floating Rate Debt |
772,855
|
|
| Outstanding Face Amount of Collateral (C) |
768,619
|
|
| Amortized Cost Basis of Collateral (C) |
818,866
|
|
| Carrying Value of Collateral (C) |
820,536
|
|
| Weighted Average Maturity (Years) Of Collateral |
3.5
|
|
| Floating Rate Face Amount of Collateral (C) |
768,619
|
|
| Aggregate Notional Amount of Current Hedges |
N/A
|
|
|
Total Repurchase Agreements
|
|
|
| Outstanding Face Amount |
929,435
|
239,740
|
| Carrying Value |
929,435
|
239,740
|
| Weighted Average Funding Cost (B) |
0.81%
|
|
| Weighted Average Maturity (Years) |
0.1
|
|
| Face Amount of Floating Rate Debt |
929,435
|
|
| Outstanding Face Amount of Collateral (C) |
1,112,796
|
|
| Amortized Cost Basis of Collateral (C) |
1,034,078
|
|
| Carrying Value of Collateral (C) |
1,049,029
|
|
| Weighted Average Maturity (Years) Of Collateral |
4.6
|
|
| Floating Rate Face Amount of Collateral (C) |
1,112,796
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
Total Mortgage Notes Payable
|
|
|
| Outstanding Face Amount |
120,525
|
|
| Carrying Value |
120,525
|
|
| Weighted Average Funding Cost (B) |
3.79%
|
|
| Weighted Average Maturity (Years) |
5.8
|
|
| Face Amount of Floating Rate Debt |
55,525
|
|
| Outstanding Face Amount of Collateral (C) |
N/A
|
|
| Amortized Cost Basis of Collateral (C) |
181,887
|
|
| Carrying Value of Collateral (C) |
181,887
|
|
| Weighted Average Maturity (Years) Of Collateral |
N/A
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
23,400
|
|
|
Junior Subordinated Debt
|
|
|
| Month Issued |
Mar 2006
|
|
| Outstanding Face Amount |
51,004
|
51,004
|
| Carrying Value |
51,243
|
51,248
|
| Final Stated Maturity |
Apr 2035
|
|
| Unhedged Weighted Average Funding Cost (A) |
7.574%; LIBOR+2.25% After Apr 2016
|
|
| Weighted Average Funding Cost (B) |
7.40%
|
|
| Weighted Average Maturity (Years) |
22.3
|
|
| Face Amount of Floating Rate Debt |
|
|
| Outstanding Face Amount of Collateral (C) |
|
|
| Amortized Cost Basis of Collateral (C) |
|
|
| Carrying Value of Collateral (C) |
|
|
| Weighted Average Maturity (Years) Of Collateral |
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
Total Corporate
|
|
|
| Outstanding Face Amount |
51,004
|
51,004
|
| Carrying Value |
51,243
|
51,248
|
| Weighted Average Funding Cost (B) |
7.40%
|
|
| Weighted Average Maturity (Years) |
22.3
|
|
| Face Amount of Floating Rate Debt |
|
|
| Outstanding Face Amount of Collateral (C) |
|
|
| Amortized Cost Basis of Collateral (C) |
|
|
| Carrying Value of Collateral (C) |
|
|
| Weighted Average Maturity (Years) Of Collateral |
|
|
| Floating Rate Face Amount of Collateral (C) |
|
|
| Aggregate Notional Amount of Current Hedges |
|
|
|
Debt Securities Payable
|
|
|
| Outstanding Face Amount |
2,379,842
|
2,898,244
|
| Carrying Value |
2,375,947
|
2,894,970
|
| Weighted Average Funding Cost (B) |
2.02%
|
|
| Weighted Average Maturity (Years) |
2.3
|
|
| Face Amount of Floating Rate Debt |
2,054,392
|
|
| Outstanding Face Amount of Collateral (C) |
3,077,947
|
|
| Amortized Cost Basis of Collateral (C) |
2,755,974
|
|
| Carrying Value of Collateral (C) |
2,830,558
|
|
| Weighted Average Maturity (Years) Of Collateral |
3.8
|
|
| Floating Rate Face Amount of Collateral (C) |
1,944,854
|
|
| Aggregate Notional Amount of Current Hedges |
335,443
|
|
|
Subprime mortgage loans subject to call option
|
|
|
| Month Issued |
April 2006 and July 2007
|
|
| Outstanding Face Amount |
406,217
|
406,217
|
| Carrying Value |
405,814
|
404,723
|
|
Total Debt
|
|
|
| Outstanding Face Amount |
2,786,059
|
3,304,461
|
| Carrying Value |
$ 2,781,761
|
$ 3,299,693
|