Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Measurements

Summary of assets and liabilities measured at fair value on a recurring basis

	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
	(In thousands)
March 31, 2022
Derivative financial instruments designated as effective hedges:
Classified as assets in "Other assets, net"	$	11,553		—	$	11,553		—
Classified as liabilities in "Other liabilities, net"		658		—		658		—
Derivative financial instruments designated as ineffective hedges:
Classified as assets in "Other assets, net"		3,925		—		3,925		—
December 31, 2021
Derivative financial instruments designated as effective hedges:
Classified as assets in "Other assets, net"	$	393		—	$	393		—
Classified as liabilities in "Other liabilities, net"		18,361		—		18,361		—
Derivative financial instruments designated as ineffective hedges:
Classified as assets in "Other assets, net"		558		—		558		—

Schedule of financial instruments and liabilities were reflected in our balance sheets

	March 31, 2022				December 31, 2021
	Carrying				Carrying
	Amount (1)		Fair Value		Amount (1)		Fair Value
	(In thousands)
Financial liabilities:
Mortgages payable (2)	$	1,787,081	$	1,795,938	$	1,788,259	$	1,814,780
Revolving credit facility		300,000		300,376		300,000		300,363
Unsecured term loans		400,000		400,415		400,000		400,519

(1) The carrying amount consists of principal only.

(2) Includes mortgages payable related to assets held for sale as of March 31, 2022.