FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024				As of December 31, 2023
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents (1)	$	1,104,733	$	1,104,733	$	508,794	$	508,794
Escrow deposits and restricted cash (1)	60,964		60,964		54,668		54,668
Stock warrants (3)(4)(5)	65,377		65,377		59,281		59,281
Secured mortgage loans and other, net (3)(4)	144,797		145,905		27,986		27,947
Non-mortgage loans receivable, net (3)(4)(5)	23,754		22,895		26,152		25,200
Derivative instruments (3)(5)	9,836		9,836		19,782		19,782
Liabilities:
Senior notes payable and other debt, gross (3)(4)	13,772,020		13,854,034		13,568,598		13,104,091
Derivative instruments (3)(6)	6,958		6,958		2,525		2,525
Redeemable OP Units (2)	219,017		219,017		173,452		173,452

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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.