Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Fair Values of Financial Assets and Liabilities Measured at Fair Value

The table below aggregates the fair values of these financial assets and liabilities as of June 30, 2017 and December 31, 2016, based on their levels in the fair value hierarchy.

	As of June 30, 2017
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	21,564	$	21,564	$	-	$	-
Interest rate swap assets (included in "other assets")		730		-		730		-
Total assets	$	22,294	$	21,564	$	730	$	-

Interest rate swap liabilities	$	1,819	$	-	$	1,819	$	-
Total liabilities	$	1,819	$	-	$	1,819	$	-

	As of December 31, 2016
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	22,393	$	22,393	$	-	$	-
Interest rate swap assets (included in "other assets")		139		-		139		-
Total assets	$	22,532	$	22,393	$	139	$	-

Interest rate swap liabilities	$	22,446	$	-	$	22,446	$	-
Total liabilities	$	22,446	$	-	$	22,446	$	-

Summary of Carrying Amounts and Fair Value of Financial Instruments

The following is a summary of the carrying amounts and fair value of these financial instruments as of June 30, 2017 and December 31, 2016.

	As of June 30, 2017				As of December 31, 2016
(Amounts in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Preferred equity investments	$	55,300	$	55,614	$	55,051	$	55,300
Total assets	$	55,300	$	55,614	$	55,051	$	55,300


	As of June 30, 2017				As of December 31, 2016
(Amounts in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Notes and mortgages payable	$	3,355,100	$	3,347,070	$	3,408,179	$	3,371,262
Revolving credit facility		-		-		230,000		230,018
Total liabilities	$	3,355,100	$	3,347,070	$	3,638,179	$	3,601,280