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Summary Of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2020
Summary Of Significant Accounting Policies [Line Items]  
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
The Company follows the authoritative guidance for fair value measurements when valuing its financial instruments for disclosure purposes. The table below presents the financial instruments that are being valued for disclosure purposes as well as the Level at which they are categorized (as defined in Accounting Standards Codification (“ASC”) 820 “Fair Value Measurements and Disclosures” (“ASC 820”)).
Financial InstrumentLevel
Unsecured senior notes (1)Level 1
Related party note receivableLevel 3
Notes receivableLevel 3
Mortgage notes payableLevel 3
Unsecured term loan / line of creditLevel 3
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(1) If trading value for the period is low, the valuation could be categorized as Level 2.
Because the Company’s valuations of its financial instruments are based on the above Levels and involve the use of estimates, the actual fair values of its financial instruments may differ materially from those estimates.
The following table identifies the range and weighted average of significant unobservable inputs for the Company’s Level 3 fair value measured instruments.
Financial InstrumentLevelRangeWeighted Average
Related party note receivableLevel 33.65%3.65%
Notes receivableLevel 3
3.62% - 8.00%
5.31%
Mortgage notes payableLevel 3
1.82% - 3.25%
2.11%
Unsecured term loan / line of creditLevel 31.05%1.05%
Fair Value, by Balance Sheet Grouping [Table Text Block]
The following table presents the aggregate carrying value of the Company’s related party note receivable, net, notes receivable, net, mortgage notes payable, net, unsecured senior notes, net, unsecured line of credit and unsecured term loan, net and the Company’s corresponding estimate of fair value as of September 30, 2020 and December 31, 2019 (in thousands):
 September 30, 2020December 31, 2019
 Carrying
Amount
Estimated
Fair Value
Carrying
Amount
Estimated
Fair Value
Related party note receivable, net$77,592 $84,990 $80,000 $81,931 
Notes receivable, net25,304 25,974 15,920 14,978 
Total$102,896 $110,964 $95,920 $96,909 
Mortgage notes payable, net$2,912,494 $3,183,294 $2,922,408 $2,984,956 
Unsecured senior notes, net9,636,397 10,491,966 8,390,459 8,826,375 
Unsecured line of credit— — — — 
Unsecured term loan, net499,270 500,388 498,939 500,561 
Total$13,048,161 $14,175,648 $11,811,806 $12,311,892