Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

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

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

	As of December 31, 2023								As of December 31, 2022
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Interest rate options	$	5,237	$	—	$	5,237	$	—	$	62,259	$	—	$	62,259	$	—
Investments in stock		2,868		2,868		—		—		1,179		1,179		—		—
Investments in real estate technology funds (1)		2,508		—		—		—		3,117		—		—		—

(1) Investments measured at fair value using the NAV 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 carrying value and fair value of our non-recourse property debt and construction loans as of December 31, 2023 and 2022 (in thousands):

	As of December 31, 2023		As of December 31, 2022
	Carrying Value	Fair Value	Carrying Value	Fair Value
Non-recourse property debt	$852,502	$807,240	$938,476	$878,804
Construction loans	309,521	309,170	126,317	125,954
Total	$1,162,023	$1,116,410	$1,064,793	$1,004,758