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Fair Value Of Financial Instruments
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS FAIR VALUE OF FINANCIAL INSTRUMENTS
Except as disclosed below, the carrying amount of our financial instruments approximates their fair value. The fair value of our mortgages payable, notes payable and senior notes and debentures is sensitive to fluctuations in interest rates. Quoted market prices (Level 1) were used to estimate the fair value of our marketable senior notes and debentures and discounted cash flow analysis (Level 2) is generally used to estimate the fair value of our mortgages and notes payable. Considerable judgment is necessary to estimate the fair value of financial instruments. The estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. A summary of the carrying amount and fair value of our mortgages payable, notes payable and senior notes and debentures is as follows:

 September 30, 2025December 31, 2024
Carrying
Value		Fair ValueCarrying
Value		Fair Value
(In thousands)
Mortgages and notes payable, net$1,360,876 $1,352,424 $1,115,792 $1,098,271 
Senior notes and debentures, net$2,886,321 $2,738,882 $2,883,713 $2,645,097 
Exchangeable senior notes, net$476,147 $493,895 $474,127 $495,510 

The following table is a summary of our outstanding interest rate swap agreements as of September 30, 2025:
Interest Rate SwapNotional AmountMaturity Date of Related Swap AgreementsWeighted Average Interest RateBalance Sheet LocationFair Value
(in millions)(in millions)
Term Loan (1)$300.0 March 1, 20284.21 %Other liabilities$(0.3)
Bethesda Row200.0 December 28, 20255.03 %Other liabilities(0.1)
Hoboken51.0 December 15, 20293.67 %Prepaid expenses and other assets3.2 
$551.0 $2.8 
(1) These interest rate swaps were entered into during the three months ended September 30, 2025, and fix the interest rate on $300.0 million of our unsecured term loan.

The fair values of the interest rate swap agreements are based on the estimated amounts we would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. For the three and nine months ended September 30, 2025, the value of our interest rate swaps decreased $0.7 million and $2.4 million, respectively (including $0.7 million and $1.7 million, respectively, reclassified from other comprehensive income as a decrease to interest expense). A summary of our net financial assets that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows:
September 30, 2025December 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
(In thousands)
Interest rate swaps$— $2,822 $— $2,822 $— $5,208 $— $5,208 
One of our equity method investees has two interest rate swaps which qualify for cash flow hedge accounting. For the three and nine months ended September 30, 2025, our share of the change in fair value of the related swaps included in "accumulated other comprehensive income" was a loss of less than $0.1 million and $0.3 million, respectively.