XML 30 R19.htm IDEA: XBRL DOCUMENT
v3.21.2

Summary of Significant Accounting Policies (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Accounting Policies [Abstract] |
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 nine months ended September 30, 2021. The following table summarizes the carrying amount and the fair value of our financial instruments as of the periods indicated:
|  | As of September 30, 2021 |  |  | As of December 31, 2020 |
Financial Instrument |  | Carrying Amount |  |  | Estimated Fair Value |  |  | Carrying Amount |  |  | Estimated Fair Value |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 8,720 |  |  | $ | 8,720 |  |  | $ | 8,751 |  |  | $ | 8,751 |
Restricted cash |  |  | 6,138 |  |  |  | 6,138 |  |  |  | 4,864 |  |  |  | 4,864 |
Derivative assets |  |  | 1,168 |  |  |  | 1,168 |  |  |  | — |  |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured credit facility |  |  | 136,324 |  |  |  | 137,503 |  |  |  | 183,110 |  |  |  | 184,802 |
Unsecured term loans |  |  | 497,844 |  |  |  | 500,000 |  |  |  | 298,759 |  |  |  | 300,000 |
Mortgages (1) |  |  | 384,561 |  |  |  | 396,504 |  |  |  | 463,817 |  |  |  | 479,929 |
Derivative liabilities |  |  | 17,492 |  |  |  | 17,492 |  |  |  | 29,842 |  |  |  | 29,842 |
| (1) | Includes indebtedness associated with real estate held for sale.

X
- Definition Schedule of carrying values and estimated fair values of financial instruments. + References No definition available. + Details
Name: | irt_ScheduleOfCarryingValuesAndEstimatedFairValuesOfFinancialInstrumentsTableTextBlock
Namespace Prefix: | irt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration