Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The table presents the carrying values and fair values of our financial instruments as of December 31, 2019 and December 31, 2018, that were measured using the valuation techniques described above (in thousands). The table excludes other financial instruments such as cash and cash equivalents, accounts receivable, and accounts payable as the carrying values associated with these instruments approximate fair value since their maturities are less than one year.

	December 31, 2019				December 31, 2018
Financial assets	Carrying Value		Fair Value		Carrying Value		Fair Value
Marketable securities	$	94,727	$	94,727	$	49,037	$	49,037
Installment notes receivable on manufactured homes, net	95,580		95,580		112,798		112,798
Collateralized receivables, net	—		—		106,924		106,924
Notes receivable from real estate developers	18,960		18,960		—		—
Total	$	209,267	$	209,267	$	268,759	$	268,759
Financial liabilities
Debt (excluding secured borrowings)	$	3,250,504	$	3,270,544	$	2,888,572	$	2,757,649
Secured borrowings	—		—		107,731		107,731
Lines of credit	183,898		183,898		128,000		128,000
Other liabilities (contingent consideration)	6,134		6,134		4,640		4,640
Total	$	3,440,536	$	3,460,576	$	3,128,943	$	2,998,020