Disclosure About Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Measurements of Assets, Liabilities and Noncontrolling Interests

The following table sets forth our assets and liabilities and the Company’s noncontrolling interests in the Operating Partnership that are measured or disclosed at fair value within the fair value hierarchy:


			Level 1		Level 2		Level 3
	Total		Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
Fair Value as of June 30, 2025:
Assets:
Mortgages and notes receivable, at fair value (1)	$	6,227	$	—	$	6,227	$	—

Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)	1,617		1,617		—		—



Total Assets	$	7,844	$	1,617	$	6,227	$	—
Noncontrolling Interests in the Operating Partnership	$	66,878	$	66,878	$	—	$	—
Liabilities:
Mortgages and notes payable, net, at fair value (1)	$	3,208,003	$	—	$	3,208,003	$	—

Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)	1,617		1,617		—		—


Total Liabilities	$	3,209,620	$	1,617	$	3,208,003	$	—


Fair Value as of December 31, 2024:
Assets:
Mortgages and notes receivable, at fair value (1)	$	11,064	$	—	$	11,064	$	—

Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)	2,295		2,295		—		—
Impaired real estate assets	26,740		—		—		26,740

Total Assets	$	40,099	$	2,295	$	11,064	$	26,740
Noncontrolling Interests in the Operating Partnership	$	65,791	$	65,791	$	—	$	—
Liabilities:
Mortgages and notes payable, net, at fair value (1)	$	3,097,323	$	—	$	3,097,323	$	—

Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)	2,295		2,295		—		—


Total Liabilities	$	3,099,618	$	2,295	$	3,097,323	$	—

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(1) Amounts are not recorded at fair value on our Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024.