FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of carrying value and estimated fair value of financial instruments

The following table presents the carrying value and estimated fair value of the Company’s financial instruments not carried at fair value on the consolidated balance sheets at September 30, 2023 and December 31, 2022 (in thousands):

	September 30, 2023				December 31, 2022
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Cash and Cash Equivalents - Level 1	$	7,015	$	7,015	$	19,333	$	19,333
Restricted Cash - Level 1	$	22,618	$	22,618	$	1,861	$	1,861
Commercial Loans and Investments - Level 2	$	46,572	$	47,809	$	31,908	$	32,960
Long-Term Debt - Level 2	$	548,219	$	517,666	$	445,583	$	426,421

Schedule of fair value of assets measured on recurring basis by Level

The following table presents the fair value of assets measured on a recurring basis by level as of September 30, 2023 and December 31, 2022 (in thousands). See Note 16, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.

			Fair Value at Reporting Date Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2023
Cash Flow Hedge - 2026 Term Loan Interest Rate Swaps	$	5,699	$	—	$	5,699	$	—
Cash Flow Hedge - 2027 Term Loan Interest Rate Swaps	$	10,576	$	—	$	10,576	$	—
Cash Flow Hedge - 2028 Term Loan Interest Rate Swaps	$	2,715	$	—	$	2,715	$	—
Cash Flow Hedge - Credit Facility Interest Rate Swaps	$	5,160	$	—	$	5,160	$	—
Investment Securities	$	38,162	$	38,162	$	—	$	—
December 31, 2022
Cash Flow Hedge - 2026 Term Loan Interest Rate Swaps	$	6,047	$	—	$	6,047	$	—
Cash Flow Hedge - 2027 Term Loan Interest Rate Swaps	$	10,111	$	—	$	10,111	$	—
Cash Flow Hedge - 2028 Term Loan Interest Rate Swaps	$	(397)	$	—	$	(397)	$	—
Investment Securities	$	42,041	$	42,041	$	—	$	—