FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments With Fair Values Different From Their Carrying Amount

The following are financial instruments for which the Company’s estimates of fair value differ from the carrying amounts (in thousands):

	December 31, 2019				December 31, 2018
	Carrying Amount (a)		Fair Value		Carrying Amount (a)		Fair Value
Unsecured notes payable	$	1,503,435	$	1,591,830	$	1,288,024	$	1,262,570
Variable rate debt	$	327,171	$	309,947	$	419,153	$	402,924
Mortgage notes payable	$	313,812	$	317,031	$	320,869	$	318,515
Notes receivable	$	44,430	$	43,322	$	47,771	$	47,747

(a)

The carrying amounts presented in the table above are net of deferred financing costs of $8.7 million and $7.9 million for unsecured notes payable, $1.4 million and $2.0 million for variable rate debt and $0.2 million and $0.4 million for mortgage notes payable as of December 31, 2019 and December 31, 2018, respectively.