Fair Value Measurements and Disclosures (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Fair Value for Interest Rate Options and Investments in Real Estate Technology Funds

The following table summarizes the fair value for our interest rate options and our investments in real estate technology funds as of June 30, 2023 , and December 31, 2022 (in thousands):

	As of June 30, 2023								As of December 31, 2022
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Interest rate options	$	8,957	$	—	$	8,957	$	—	$	62,259	$	—	$	62,259	$	—
Investment in stock	$	3,443	$	3,443	$	—	$	—	$	1,179	$	1,179	$	—	$	—
Investments in real estate technology funds (1)	$	2,422	$	—	$	—	$	—	$	3,117	$	—	$	—	$	—

(1) Investments measured at fair value using NAV as a practical expedient are not classified in the fair value hierarchy.

Summary of Carrying Value and Fair Value of Non-recourse Property Debt, Construction Loans

The following table summarizes the carrying value and fair value of our non-recourse property debt, and construction loans as of June 30, 2023, and December 31, 2022 (in thousands):

	As of June 30, 2023				As of December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
Non-recourse property debt	$	876,935	$	826,108	$	938,476	$	878,804
Construction loans		201,990		201,632		126,317		125,954
Total	$	1,078,925	$	1,027,740	$	1,064,793	$	1,004,758