Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Summary of Impairment Charge

The following table summarizes the Company’s impairment charge, resulting primarily from changes in the Company’s long-term hold strategy, with respect to the individual property:

	For the Three Months Ended March 31,
(in thousands, except number of properties)	2023		2022
Number of properties		1		—
Impairment charge	$	1,473	$	—

Summary of Restricted Cash

Restricted cash consisted of the following:

	March 31,		December 31,
(in thousands)	2023		2022
Escrow funds and other	$	3,898	$	4,812
1031 exchange proceeds		—		33,439
	$	3,898	$	38,251

Summary of Rents Received in Advance

Rent received in advance consisted of the following:

(in thousands)	March 31, 2023		December 31, 2022
Rent received in advance	$	20,549	$	18,783

Balances of Financial Instruments Measured at Fair Value on Recurring Basis

The balances of financial instruments measured at fair value on a recurring basis are as follows (see Note 9):

	March 31, 2023
(in thousands)	Total		Level 1		Level 2		Level 3
Interest rate swap, assets	$	45,490	$	—	$	45,490	$	—

	December 31, 2022
(in thousands)	Total		Level 1		Level 2		Level 3
Interest rate swap, assets	$	63,390	$	—	$	63,390	$	—

Summary of Carrying Amount Reported on Condensed Consolidated Balance Sheets

The following table summarizes the carrying amount reported on the Condensed Consolidated Balance Sheets and the Company’s estimate of the fair value of the unsecured revolving credit facility, mortgages, unsecured term loans, and senior unsecured notes which reflects the fair value of interest rate swaps:

(in thousands)	March 31, 2023		December 31, 2022
Carrying amount	$	1,944,323	$	2,034,076
Fair value		1,761,422		1,841,381