Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

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, 2019 and December 31, 2018 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):



	September 30, 2019						December 31, 2018
	Face Value		Carrying Amount		Fair Value		Face Value		Carrying Amount		Fair Value
Financial assets:
Preferred equity investments	$	2,327	$	3,079	$	3,540	$	4,531	$	5,746	$	6,246
Mortgage loans receivable	41,773		41,728		41,773		12,375		12,299		12,375
Financial liabilities:
Senior unsecured notes payable	$	300,000	$	295,721	$	309,750	$	300,000	$	295,153	$	289,500

- 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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