Marketable Securities, Fair Value Measurements and Notes Payable (Tables)

9 Months Ended

Sep. 30, 2019

Marketable Securities, Fair Value Measurements and Notes Payable

Summary of available for sale securities and other investments

The following is a summary of the Company’s available for sale securities as of the dates indicated:

	As of September 30, 2019
			Gross		Gross
			Unrealized		Unrealized
	Adjusted Cost		Gains		Losses		Fair Value
Marketable Securities:
Equity securities:
Equity Securities	$	4,012	$	576	$	(15)	$	4,573
Marco OP Units and Marco II OP Units		19,227		13,342		—		32,569
		23,239		13,918		(15)		37,142
Debt securities:
Corporate Bonds		18,287		179		(46)		18,420
Total	$	41,526	$	14,097	$	(61)	$	55,562

	As of December 31, 2018
			Gross		Gross
			Unrealized		Unrealized
	Adjusted Cost		Gains		Losses		Fair Value
Marketable Securities:
Equity securities:
Equity Securities	$	1,439	$	230	$	(18)	$	1,651
Marco OP Units and Marco II OP Units		19,227		15,924		—		35,151
		20,666		16,154		(18)		36,802
Debt securities:
Corporate Bonds		65,817		124		(2,120)		63,821
Mortgage Backed Securities ("MBS")		1,615		—		(301)		1,314
		67,432		124		(2,421)		65,135
Other Investments:
Certificate of Deposit		5,012		—		—		5,012
		5,012		—		—		5,012
Total	$	93,110	$	16,278	$	(2,439)	$	106,949

Marketable securities measured at fair value on a recurring basis

Marketable securities measured at fair value on a recurring basis as of the dates indicated are as follows:

	Fair Value Measurement Using
As of September 30, 2019	Level 1		Level 2		Level 3		Total
Marketable Securities:
Equity Securities, primarily REITs	$	4,573	$	—	$	—	$	4,573
Marco OP and OP II Units		—		32,569		—		32,569
Corporate Bonds		—		18,420		—		18,420
Certificate of Deposit		—		—		—		—
Total	$	4,573	$	50,989	$	—	$	55,562

	Fair Value Measurement Using
As of December 31, 2018	Level 1		Level 2		Level 3		Total
Marketable Securities:
Equity Securities, primarily REITs	$	1,651	$	—	$	—	$	1,651
Marco OP and OP II Units		—		35,151		—		35,151
Corporate Bonds		—		63,821		—		63,821
MBS		—		1,314		—		1,314
Certificate of Deposit		—		5,012		—		5,012
Total	$	1,651	$	105,298	$	—	$	106,949

Available-for-sale securities

The following table summarizes the estimated fair value of our investments in marketable debt securities with stated contractual maturity dates, accounted for as available-for-sale securities and classified by the contractual maturity date of the securities:

	As of September 30, 2019
Due in 1 year	$	2,016
Due in 1 year through 5 years		2,530
Due in 5 years through 10 years		4,303
Due after 10 years		9,571
Total	$	18,420