Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Fair Value Information of Financial Instruments

The following table summarizes fair value estimates for our financial instruments (in thousands):

	As of						As of
	March 31, 2020						December 31, 2019
Asset (Liability)	Book Value			Fair Value			Book Value			Fair Value
Interest and rent receivables	$	38,768		$	37,944		$	31,357		$	30,472
Loans(1)		1,707,234			1,751,212			1,704,854			1,742,153
Debt, net		(7,684,293	)		(7,513,806	)		(7,023,679	)		(7,331,816	)

(1) Excludes $115 million of mortgage loans related to Ernest that are recorded at fair value (which is equal to their book value) based on Level 2 inputs by discounting the estimated cash flows using the market rates which similar loans would be made to borrowers with similar credit ratings and the same remaining maturities.