Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

The following table sets forth the Company’s assets that were accounted for at fair value on a nonrecurring basis as of their respective measurement dates (in thousands):

			Fair Value Hierarchy Level
Description	Fair Value		Level 1		Level 2		Level 3
Assets held at March 31, 2020
Impaired at March 31, 2020	$	54,688	$	—	$	—	$	54,688

Assets held at December 31, 2019
Impaired at June 30, 2019	$	1,893	$	—	$	—	$	1,893
Impaired at September 30, 2019	$	1,093	$	—	$	—	$	1,093
Impaired at December 31, 2019	$	11,594	$	—	$	—	$	11,594

Fair Value Inputs of Long-Lived Assets Held and Used and Held for Sale

For the remaining properties, the Company estimated property fair value using price per square foot from unobservable inputs and, for the properties valued using comparable properties at March 31, 2020, the price per square foot includes a discount of 0-10% to account for the market impact of COVID-19. The unobservable inputs are as follows:

Unobservable Input	Asset Type	Property Count		Price Per Square Foot Range	Weighted Average Price Per Square Foot	Square Footage
March 31, 2020
Comparable Properties	Retail		14	$4.35 - $740.74	$47.89		533,803
PSA, LOI or BOV	Retail		5	$2.50 - $222.02	$33.27		338,484
PSA, LOI or BOV	Industrial		1	$13.79	$13.79		35,551
PSA, LOI or BOV	Office		1	$96.39	$96.39		4,310

December 31, 2019
Comparable Properties	Retail		4	$34.45 - $740.74	$104.84		35,885
PSA, LOI or BOV	Retail		10	$24.78 - $323.00	$50.71		165,773
PSA, LOI or BOV	Office		1	$99.37	$99.37		4,310

Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments

The following table discloses fair value information for these financial instruments (in thousands):

	March 31, 2020				December 31, 2019
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Loans receivable, net	$	30,849	$	31,586	$	34,465	$	35,279
Revolving credit facilities		500,000		514,004		116,500		119,802
Senior Unsecured Notes, net⁽¹⁾		1,484,473		1,383,947		1,484,066		1,543,919
Mortgages and notes payable, net⁽¹⁾		215,186		230,834		216,049		235,253
Convertible Notes, net⁽¹⁾		337,921		326,267		336,402		356,602

⁽¹⁾	The carrying value of the debt instruments are net of unamortized deferred financing costs and certain debt discounts/premiums.