Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Summary of Fair Value of Financial Instruments

A summary of the face values, carrying amounts and fair values of the Company’s financial instruments as of September 30, 2017 and December 31, 2016 using Level 2 inputs for the senior unsecured notes payable, and Level 3 inputs for all other financial instruments, is as follows (dollars in thousands):



	September 30, 2017						December 31, 2016
	Face Value		Carrying Amount		Fair Value		Face Value		Carrying Amount		Fair Value
Financial assets:
Preferred equity investments	$	4,531	$	5,368	$	5,241	$	12,031	$	13,872	$	14,289
Financial liabilities:
Senior unsecured notes payable	$	300,000	$	294,221	$	309,750	$	260,000	$	255,294	$	265,850

- 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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