Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Fair Value for Interest Rate Options and swaps

The following table summarizes fair value for our interest rate option and swaps (in thousands):

	As of December 31, 2022								As of December 31, 2021
	Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3
Interest rate option	$	53,481	$	—	$	53,481	$	—	$	21,699	$	—	$	21,699	$	—
Interest rate swap asset	$	32,222	$	—	$	32,222	$	—	$	—	$	—	$	—	$	—
Treasury rate lock	$	319	$	—	$	319	$	—	$	—	$	—	$	—	$	—

Summary of Carrying Value and Fair Value of Non-recourse Property Debt

The following table summarizes carrying value and fair value of our non-recourse property debt excluding debt issuance costs, seller financing note, net and unsecured notes payable excluding debt issuance costs (in thousands):

	As of December 31, 2022				As of December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Non-recourse property debt	$	1,994,651	$	1,753,222	$	2,305,756	$	2,367,713
Seller financing note, net (1)	$	31,611	$	32,286	$	—	$	—
Unsecured notes payable	$	400,000	$	371,368	$	—	$	—

(1)During the year ended December 31, 2022, we provided $40.0 million of seller financing as partial consideration for the sale of our New England portfolio. The contractual interest rate on the note is 4.5%. The difference between the stated rate and the effective interest rate as of the date of sale resulted in a discount recorded of $8.5 million. The seller financing note and related discount are included in other assets, net in our consolidated balance sheets.