Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The following table presents information about the Company’s assets and liabilities measured at fair value as of December 31, 2021 and 2020, aggregated by the level in the fair value hierarchy within which those instruments fall.

(In thousands)	Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
December 31, 2021
Derivative assets, at fair value	$	—	$	174	$	—	$	174
Derivative liabilities, at fair value	—		(13,903)		—		(13,903)
Total	$	—	$	(13,729)	$	—	$	(13,729)
December 31, 2020
Derivative assets, at fair value	$	—	$	13	$	—	$	13
Derivative liabilities, at fair value			(38,389)				(38,389)
Total	$	—	$	(38,376)	$	—	$	(38,376)

Fair Value, by Balance Sheet Grouping

The fair values of the Company’s remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below:

		December 31, 2021				December 31, 2020
(In thousands)	Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Gross mortgage notes payable and mortgage premium and discounts, net	3	$	590,425	$	594,348	$	548,889	$	549,553
Credit Facility	3	$	150,000	$	148,817	$	323,674	$	319,558
Fannie Mae Master Credit Facilities	3	$	355,045	$	350,710	$	355,175	$	354,073