Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of fair value assets measured on a recurring basis

The following sets forth the Company’s financial instruments that are accounted for at fair value on a recurring basis as of September 30, 2020 and December 31, 2019 (dollars in thousands):

Fair Value Measurement Using

Total Fair Value

Quoted Price in
Active Markets for
Identical Assets
and Liabilities
(Level 1)

Significant
Other
Observable
Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

Assets

Interest rate caps at:

September 30, 2020

—

December 31, 2019

—

Schedule of carrying value and fair value of senior secured loan and debt

The following table sets forth the carrying value and the estimated fair value of the Company’s Senior Secured Loan and debt as of September 30, 2020 and December 31, 2019 (dollars in thousands):


	Fair Value Measurement Using
	Total Fair Value		Quoted Price in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Carrying Value
Assets
Senior secured loan at:
September 30, 2020	$	—	$	—	$	—	$	—	$	—
December 31, 2019	$	15,915	$	—	$	15,915	$	—	$	15,858
Liabilities
Debt at:
September 30, 2020	$	485,308	$	—	$	485,308	$	—	$	459,083
December 31, 2019	$	503,028	$	—	$	503,028	$	—	$	491,575