Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Measurements [Abstract]

Fair Value, Assets Measured on Recurring Basis

Financial assets measured at fair value on our consolidated balance sheets as of September 30,2016 and December 31, 2015, consist of marketable securities, which are presented in the table below based on their level in the fair value hierarchy, and an interest rate cap which fair value was insignificant, as of September 30,2016 and December 31, 2015. There were no financial liabilities measured at fair value as of September 30,2016 and December 31,2015.

		As of September 30, 2016
(Amounts in thousands)		Total		Level 1		Level 2		Level 3
	Marketable securities	$	43,287	$	43,287	$	-	$	-
		As of December 31, 2015
(Amounts in thousands)		Total		Level 1		Level 2		Level 3
	Marketable securities	$	43,191	$	43,191	$	-	$	-

Fair Value, by Balance Sheet Grouping

The table below summarizes the carrying amounts and fair value of these financial instruments as of September 30,2016 and December 31,2015.

		As of September 30, 2016				As of December 31, 2015
		Carrying		Fair		Carrying		Fair
(Amounts in thousands)		Amount		Value		Amount		Value
Assets:
	Cash equivalents	$	224,600	$	224,600	$	226,476	$	226,476
Liabilities:
	Mortgages payable (excluding deferred debt issuance costs)	$	1,057,032	$	1,045,000	$	1,059,587	$	1,054,000