Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

The table below sets forth our financial assets and liabilities that required disclosure of fair value on a recurring basis as of March 31, 2020. The table presents the carrying values and fair values of our financial instruments as of March 31, 2020 and December 31, 2019, that were measured using the valuation techniques described above (in thousands). The table excludes other financial instruments such as cash and cash equivalents, other receivables, and accounts payable as the carrying values associated with these instruments approximate fair value since their maturities are less than one year.



	March 31, 2020				December 31, 2019
Financial Assets	Carrying Value		Fair Value		Carrying Value		Fair Value
Marketable securities	$	55,602	$	55,602	$	94,727	$	94,727
Installment notes receivable on manufactured homes, net	92,208		92,208		95,580		95,580
Notes receivable from real estate developers	37,481		37,481		18,960		18,960
Total	$	185,291	$	185,291	$	209,267	$	209,267

Financial Liabilities
Debt	$	3,343,720	$	3,381,041	$	3,250,504	$	3,270,544
Lines of credit	582,774		582,774		183,898		183,898
Other liabilities (contingent consideration)	4,133		4,133		6,134		6,134
Total	$	3,930,627	$	3,967,948	$	3,440,536	$	3,460,576