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FAIR VALUE MEASUREMENT (Tables)
9 Months Ended
Sep. 30, 2024
FAIR VALUE MEASUREMENT  
Carrying Value and Estimated Fair Value of Company's Financial Instruments

September 30, 2024

December 31, 2023

Carrying

Carrying

    

Value

    

Fair Value

    

Value

    

Fair Value

(in thousands)

Financial assets:

Notes receivable

$

9,395

$

8,968

$

8,885

$

10,025

Derivative assets

$

10,890

$

10,890

$

11,362

$

11,362

Financial liabilities:

Line of Credit

$

5,849

$

5,849

$

$

Mortgage notes payable

$

583,839

$

536,599

$

520,155

$

477,344

Note payable

$

8,518

$

8,518

$

$

Schedule of Fair Value of Liabilities on Recurring Basis

    

Level 1

    

Level 2

    

Level 3

    

Total

(in thousands)

September 30, 2024

Derivative assets

$

$

10,890

$

$

10,890

December 31, 2023

Derivative assets

$

$

11,362

$

$

11,362

Fair Value of Company's Financial Assets and Liabilities

    

Level 1

    

Level 2

    

Level 3

    

Total

(in thousands)

September 30, 2024

Line of Credit

$

$

$

5,849

$

5,849

Mortgage notes payable

$

$

$

536,599

$

536,599

Note payable

$

$

$

8,518

$

8,518

Notes receivable

$

$

$

8,968

$

8,968

December 31, 2023

Mortgage notes payable

$

$

$

477,344

$

477,344

Notes receivable

$

$

$

10,025

$

10,025