Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Measurements [Abstract]

Fair Value, Assets Measured on Recurring Basis

Financial assets measured at fair value on our consolidated balance sheets as of March 31,2017 and December 31, 2016, 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 March 31,2017 and December 31, 2016. There were no financial liabilities measured at fair value as of March 31,2017 and December 31,2016.

		As of March 31, 2017
(Amounts in thousands)		Total		Level 1		Level 2		Level 3
	Marketable securities	$	34,471	$	34,471	$	-	$	-
		As of December 31, 2016
(Amounts in thousands)		Total		Level 1		Level 2		Level 3
	Marketable securities	$	37,918	$	37,918	$	-	$	-

Fair Value, by Balance Sheet Grouping

The table below summarizes the carrying amounts and fair value of these financial instruments as of March 31,2017 and December 31, 2016.

		As of March 31, 2017				As of December 31, 2016
		Carrying		Fair		Carrying		Fair
(Amounts in thousands)		Amount		Value		Amount		Value
Assets:
	Cash equivalents	$	273,477	$	273,477	$	256,730	$	256,730
Liabilities:
	Mortgages payable (excluding deferred debt issuance costs)	$	1,055,246	$	1,042,000	$	1,056,147	$	1,045,000