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FAIR VALUE MEASUREMENT (Tables)
9 Months Ended
Sep. 30, 2022
FAIR VALUE MEASUREMENT  
Carrying Value and Estimated Fair Value of Company's Financial Instruments

September 30, 2022

December 31, 2021

Carrying

Carrying

    

Value

    

Fair Value

    

Value

    

Fair Value

(in thousands)

Financial assets:

Investment in securities

$

42,062

$

42,062

$

$

Notes receivable

$

7,749

$

9,073

$

7,457

$

9,840

Derivative assets

$

14,356

$

14,356

$

698

$

698

Financial liabilities:

Mortgage notes payable

$

514,297

$

493,082

$

495,650

$

508,285

Derivative liabilities

$

$

$

1,648

$

1,648

Schedule of Fair Value of Liabilities on Recurring Basis

    

Level 1

    

Level 2

    

Level 3

    

Total

(in thousands)

September 30, 2022

Derivative assets

$

$

14,356

$

$

14,356

December 31, 2021

Derivative assets

$

$

698

$

$

698

Derivative liabilities

$

$

1,648

$

$

1,648

Fair Value of Company's Financial Assets and Liabilities

    

Level 1

    

Level 2

    

Level 3

    

Total

(in thousands)

September 30, 2022

Mortgage notes payable

$

$

$

493,082

$

493,082

Notes receivable

$

$

$

9,073

$

9,073

December 31, 2021

Mortgage notes payable

$

$

$

508,285

$

508,285

Notes receivable

$

$

$

9,840

$

9,840