Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Carrying amounts and fair values of financial instruments measured based on level two inputs

The carrying amounts and fair values of the Company’s financial instruments as of March 31, 2022 and December 31, 2021 were as follows (in thousands):


	March 31, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Indebtedness, net (a)	$	1,178,831	$	1,184,117	$	958,910	$	976,520
Notes receivable, net	133,557		133,557		126,429		126,429
Interest rate swap liabilities	1,063		1,063		3,467		3,467
Interest rate swap and cap assets	13,359		13,359		2,926		2,926

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(a) The values as of March 31, 2022 and December 31, 2021 include the loan reclassified to liabilities related to assets held for sale.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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