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Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Estimated Fair Value and Carrying Value of Liabilities The table below presents the estimated fair value and carrying value of our secured notes payable (excluding our revolving credit facility), the carrying value includes unamortized loan premium and excludes unamortized deferred loan fees:
(In thousands)
March 31, 2020
 
December 31, 2019
 
 
 
 
Fair value
$
4,681,015

 
$
4,678,623

Carrying value
$
4,653,079

 
$
4,653,264


The table below presents the estimated fair value and carrying value of our ground lease liability:
(In thousands)
March 31, 2020
 
December 31, 2019
 
 
 
 
Fair value
$
14,510

 
$
12,218

Carrying value
$
10,878

 
$
10,882
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The table below presents the estimated fair value of our derivatives:

(In thousands)
March 31, 2020
 
December 31, 2019
Derivative Assets:
 
 
 
Fair value - consolidated derivatives(1)
$
—

 
$
22,381

Fair value - unconsolidated Fund's derivatives(2)
$
—

 
$
889

 
 
 
 
Derivative Liabilities:
 
 
 
Fair value - consolidated derivatives(1)
$
238,821

 
$
54,616

Fair value - unconsolidated Fund's derivatives(2)
$
554

 
$
—


____________________________________________________
(1)
Consolidated derivatives, which include 100%, not our pro-rata share, of our consolidated JVs' derivatives, are included in interest rate contracts in our consolidated balance sheets. The fair values exclude accrued interest which is included in interest payable in the consolidated balance sheets.
(2)
The amounts reflect 100%, not our pro-rata share, of our unconsolidated Fund's derivatives. Our pro-rata share of the amounts related to the unconsolidated Fund's derivatives is included in our Investment in unconsolidated Funds in our consolidated balance sheets. See Note 15 regarding our unconsolidated Fund's debt and derivatives.