FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value, Assets Measured on Recurring Basis

The following tables set forth our financial assets measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023, by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement.


	Fair Value as of		Fair Value Measurements Using Fair Value Hierarchy as of
	September 30, 2024		September 30, 2024
	Total		Level 1		Level 2		Level 3		Valuation Technique
Assets
Cash and cash equivalents	$	20,295	$	20,295	$	—	$	—	Market
Restricted cash	124,338		124,338		—		—		Market
Notes receivable	11,773		—		11,773		—		Market

Total assets	$	156,406	$	144,633	$	11,773	$	—

	Fair Value as of		Fair Value Measurements Using Fair Value Hierarchy as of
	December 31, 2023		December 31, 2023
	Total		Level 1		Level 2		Level 3		Valuation Technique
Assets
Cash and cash equivalents	$	29,367	$	29,367	$	—	$	—	Market
Restricted cash	58,112		58,112		—		—		Market
Notes receivable	11,664		—		11,664		—		Market

Total assets	$	99,143	$	87,479	$	11,664	$	—

Fair Value, by Balance Sheet Grouping

The fair value of our bonds, notes and loans payable reported as Debt, net in the Consolidated Balance Sheets are presented in the table below:


	September 30, 2024		December 31, 2023
Series 2020A Bonds (1)	$	131,274	$	138,666
Series 2020B Bonds (1)	—		75,928
Series 2021A Bonds (1)	129,118		154,306
Series 2021B Bonds (1)	179,498		165,208
Series 2024A Bonds (1)	170,154		—
Series 2024B Bonds (1)	224,565		—
Senior Notes due 2027	641,148		625,038
EB-5 Loan Agreement	22,885		21,240
EB-5.2 Loan Agreement	8,713		8,183
EB-5.3 Loan Agreement	23,747		22,491

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(1) Fair value is based upon market prices for similar municipal securities.