FAIR VALUES MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Carrying Amounts and Fair Values of Financial Instruments

The table below summarizes the carrying amounts and fair values of our financial instruments either recorded or disclosed on a recurring basis (dollars in thousands):

	As of September 30, 2023				As of December 31, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents (1)	$	433,937	$	433,937	$	122,564	$	122,564
Escrow deposits and restricted cash (1)	57,809		57,809		48,181		48,181
Stock warrants (3)(5)	34,906		34,906		23,621		23,621
Secured mortgage loans and other, net (3)(4)	27,823		27,853		493,669		493,627
Non-mortgage loans receivable, net (3)(4)(5)	24,587		23,396		24,338		23,416
Government-sponsored pooled loan investments, net (3)	—		—		43,406		43,406
Derivative instruments (3)(5)	48,713		48,713		24,316		24,316
Liabilities:
Senior notes payable and other debt, gross (3)(4)	13,479,362		12,503,789		12,361,244		11,493,824
Derivative instruments (3)(6)	44		44		145		145
Redeemable OP Units (2)	153,351		153,351		162,663		162,663

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(1)The carrying amount approximates fair value due to the short maturity of these instruments.

(2)Level 1 within fair value hierarchy.

(3)Level 2 within fair value hierarchy.

(4)Level 3 within fair value hierarchy.

(5)Included in other assets on our Consolidated Balance Sheets.

(6)Included in accounts payable and other liabilities on our Consolidated Balance Sheets.