Fair Value (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of the Principal Amount, Carrying Value and Fair Value of Certain Financial Assets and Liabilities

The following table presents the principal amount, carrying value and fair value of certain financial assets and liabilities (dollars in thousands):

	September 30, 2020 (Unaudited)						December 31, 2019
	Principal Amount		Carrying Value		Fair Value		Principal Amount		Carrying Value		Fair Value
Financial assets:(1)
Real estate debt investments, net	$	74,182	$	55,038	$	74,182	$	74,182	$	55,468	$	74,182
Financial liabilities:(1)
Mortgage and other notes payable, net	$	1,441,218	$	1,421,453	$	1,406,546	$	1,455,413	$	1,431,922	$	1,450,876
Line of credit - related party	35,000		35,000		35,000		—		—		—

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(1)The fair value of other financial instruments not included in this table is estimated to approximate their carrying value.

The following table summarizes the fair value, measured at the time of impairment, of Level 3 assets which have been measured at fair value on a nonrecurring basis during the periods presented and the associated impairment losses (dollars in thousands):

	Nine Months Ended September 30, 2020 (Unaudited)				Year Ended December 31, 2019
	Fair Value		Impairment Losses		Fair Value		Impairment Losses
Operating real estate, net	$	109,262	$	90,715	$	27,450	$	27,021
Assets held for sale	927		722		1,649		533