v3.24.2
Fair Values (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table summarizes our assets and liabilities measured at fair value on a recurring basis ($ in thousands):
 June 30, 2024December 31, 2023
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets        
Derivatives$— $4,878 $— $4,878 $— $1,890 $— $1,890 
Liabilities
Derivatives$— $24,395 $— $24,395 $— $94,817 $— $94,817 
Schedule of Details of Carrying Amount, Face Amount, and Fair Value of Financial Instruments
The following table details the book value, face amount, and fair value of the financial instruments described in Note 2 ($ in thousands):
 June 30, 2024December 31, 2023
 
Book
Value
Face
 Amount
Fair
Value
Book
Value
Face
 Amount
Fair
Value
Financial assets      
Cash and cash equivalents$373,876 $373,876 $373,876 $350,014 $350,014 $350,014 
Loans receivable, net21,976,910 23,010,660 21,872,283 23,210,076 23,923,719 23,015,737 
Financial liabilities
Secured debt, net12,096,705 12,110,576 11,928,849 12,683,095 12,697,058 12,425,609 
Securitized debt obligations, net2,327,774 2,328,492 2,153,456 2,505,417 2,507,514 2,323,441 
Asset-specific debt, net1,120,760 1,125,854 1,112,516 1,000,210 1,004,097 992,357 
Loan participations sold, net100,442 100,580 100,098 337,179 337,721 333,745 
Secured term loans, net2,095,199 2,124,223 2,055,445 2,101,632 2,135,221 2,102,950 
Senior secured notes, net337,336 339,918 306,139 362,763 366,090 327,081 
Convertible notes, net296,486 300,000 272,061 295,847 300,000 272,076