Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 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 three or nine months ended September 30, 2018 or 2017. The following table summarizes the carrying amount and the fair value of our financial instruments as of the periods indicated:

	As of September 30, 2018				As of December 31, 2017
Financial Instrument	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Cash and cash equivalents	$	7,645	$	7,645	$	9,985	$	9,985
Restricted cash		8,265		8,265		4,634		4,634
Derivative assets		12,440		12,440		7,291		7,291

Liabilities
Debt:
Unsecured credit facility		249,108		251,005		101,629		104,005
Term Loan		99,155		100,000		99,105		100,000
Mortgages		614,975		596,310		577,708		564,333