Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Quantitative Disclosure of The Fair Value For Each Major Category Of Assets And Liabilities

The following financial instruments are re-measured at fair value on a recurring basis:



	Fair Value Measurements as of
	December 31, 2019						December 31, 2018
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Derivative interest rate assets	$	—	$	1,057	$	—	$	—	$	1,637	$	—

Assets Measured at Fair Value on Non-Recurring Basis

The following table summarizes activity for the Company’s assets measured at fair value on a non-recurring basis and the related impairment charges for the years ended December 31, 2019, 2018, and 2017:



	As of December 31, 2019				As of December 31, 2018				As of December 31, 2017
	Level 3		Impairment Loss		Level 3		Impairment Loss		Level 3		Impairment Loss
Investment properties	$	42,250	$	2,359	$	64,075	$	3,510	$	105,900	$	27,754
Investment in unconsolidated entities	—		—		30,049		29,933		—		—
Total			$	2,359			$	33,443			$	27,754

Fair Value of Financial Instruments Presented at Carrying Values

The table below represents the estimated fair value of financial instruments presented at carrying values in the Company's consolidated financial statements as of December 31, 2019 and 2018:



	December 31, 2019				December 31, 2018
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Mortgages payable	$	176,051	$	178,937	$	213,925	$	212,572
Term loans	$	400,000	$	400,020	$	352,000	$	352,006