Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Carrying Amount and Fair Value of Financial Instrument

The fair value of mortgage indebtedness is based on a discounted cash flows valuation technique. As this technique utilizes current credit spreads, which are generally unobservable, this is classified as a Level 3 fair value measurement within the fair value hierarchy. We determine appropriate credit spreads based on the type of debt and its maturity. There were no transfers between levels in the fair value hierarchy for the six months ended June 30, 2018. The following table summarizes the carrying amount and the fair value of our financial instruments as of the periods indicated:

	As of June 30, 2018				As of December 31, 2017
Financial Instrument	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Cash and cash equivalents	$	10,896	$	10,896	$	9,985	$	9,985
Restricted cash		7,051		7,051		4,634		4,634
Derivative assets		11,755		11,755		7,291		7,291

Liabilities
Debt:
Unsecured credit facility		196,949		199,005		101,629		104,005
Term Loan		99,130		100,000		99,105		100,000
Mortgages		615,693		598,217		577,708		564,333