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Disclosure about Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Carrying Amounts and Estimated Fair Values of Financial Instruments
The carrying amounts and estimated fair values of our financial instruments are as follows (in thousands):
 December 31, 2023December 31, 2022
 CarryingFairCarryingFair
 AmountValueAmountValue
Financial assets:    
Mortgage loans receivable$1,043,252 $1,105,260 $697,906 $739,159 
Other real estate loans receivable318,335 319,905 192,938 190,977 
Cash and cash equivalents1,993,646 1,993,646 631,681 631,681 
Restricted cash82,437 82,437 90,611 90,611 
Non-real estate loans receivable330,119 312,985 289,168 277,601 
Foreign currency forward contracts, interest rate swaps and cross currency swaps37,118 37,118 191,357 191,357 
Equity warrants35,772 35,772 30,436 30,436 
Financial liabilities:
Senior unsecured notes$13,552,222 $13,249,247 $12,437,273 $11,381,873 
Secured debt2,183,327 2,144,059 2,110,815 2,054,889 
Foreign currency forward contracts, interest rate swaps and cross currency swaps96,023 96,023 55,727 55,727 
Redeemable DownREIT Unitholder interests$77,928 $77,928 $75,355 $75,355 
Summary of Items Measured at Fair Value on Recurring Basis, Assets The following summarizes items measured at fair value on a recurring basis (in thousands):
 
Fair Value Measurements as of December 31, 2023
 TotalLevel 1Level 2Level 3
Equity warrants$35,772 $— $— $35,772 
Foreign currency forward contracts, interest rate swaps and cross currency swaps, net asset (liability) (1)
(58,905)— (58,905)— 
Totals $(23,133)$— $(58,905)$35,772 
(1) Please see Note 12 for additional information.
Summary of Items Measured at Fair Value on Recurring Basis, Liabilities The following summarizes items measured at fair value on a recurring basis (in thousands):
 
Fair Value Measurements as of December 31, 2023
 TotalLevel 1Level 2Level 3
Equity warrants$35,772 $— $— $35,772 
Foreign currency forward contracts, interest rate swaps and cross currency swaps, net asset (liability) (1)
(58,905)— (58,905)— 
Totals $(23,133)$— $(58,905)$35,772 
(1) Please see Note 12 for additional information.
Schedule of Level 3 Reconciliation
The following table summarizes the change in fair value for equity warrants using unobservable Level 3 inputs for the years presented (in thousands):
Years Ended
 December 31, 2023December 31, 2022
Beginning balance$30,436 $41,909 
Warrants acquired1,202 — 
Mark-to-market adjustment2,218 (6,837)
Foreign currency1,916 (4,636)
Ending balance$35,772 $30,436