Fair Value Measures and Disclosures (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value on a Recurring Basis

The following table presents information about the Company's assets measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as follows (in thousands):

	Level 1		Level 2		Level 3		Total
September 30, 2020
Assets:
Interest rate caps	$	—	$	29	$	—	$	29
	$	—	$	29	$	—	$	29

	Level 1		Level 2		Level 3		Total
December 31, 2019
Assets:
Interest rate caps	$	—	$	9	$	—	$	9
	$	—	$	9	$	—	$	9

Carrying Amounts and Fair Values of Mortgage Notes Payable

The carrying amount and estimated fair value of the Company’s mortgage notes payable are as follows (in thousands):

	September 30, 2020				December 31, 2019
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Mortgage notes payable	$	546,016	$	543,638	$	552,074	$	545,249