Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31, 2018 and December 31, 2017 using Level 2 inputs for the Notes (as defined in Note 6, Debt below), and Level 3 inputs for all other financial instruments, is as follows (dollars in thousands):



	March 31, 2018						December 31, 2017
	Face Value		Carrying Amount		Fair Value		Face Value		Carrying Amount		Fair Value
Financial assets:
Preferred equity investments	$	4,531	$	5,645	$	5,610	$	4,531	$	5,550	$	5,423
Mortgage loan receivable	12,483		12,494		12,483		12,517		12,399		12,517
Financial liabilities:
Senior unsecured notes payable	$	300,000	$	294,584	$	302,250	$	300,000	$	294,395	$	307,500

- 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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