Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value

Financial assets measured at fair value on our consolidated balance sheets as of March 31, 2019 and December 31, 2018, consist of marketable securities and an interest rate cap, which are presented in the table below based on their level in the fair value hierarchy. There were no financial liabilities measured at fair value as of March 31, 2019 and December 31, 2018.

	As of March 31, 2019
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	23,204	$	23,204	$	—	$	—
Interest rate cap (included in other assets)	—		—		—		—
Total assets	$	23,204	$	23,204	$	—	$	—

	As of December 31, 2018
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	23,166	$	23,166	$	—	$	—
Interest rate cap (included in other assets)	—		—		—		—
Total assets	$	23,166	$	23,166	$	—	$	—

Financial Assets and Liabilities Not Measured at Fair Value

The table below summarizes the carrying amounts and fair values of these financial instruments as of March 31, 2019 and December 31, 2018.

	As of March 31, 2019				As of December 31, 2018
(Amounts in thousands)	Carrying  Amount		Fair     Value		Carrying     Amount		Fair     Value
Assets:
Cash equivalents	$	267,925	$	267,925	$	173,858	$	173,858
Liabilities:
Mortgages payable (excluding deferred debt  issuance costs, net)	$	974,836	$	970,000	$	974,836	$	969,000