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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2023
Accounting Policies [Abstract] |
Schedule of Carrying Amount and Fair Value of Financial Instrument | The following table summarizes the carrying amount and the fair value of our financial instruments as of the periods indicated:
|  | As of September 30, 2023 |  | As of December 31, 2022
Financial Instrument |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 17,216 |  |  | $ | 17,216 |  |  | $ | 16,084 |  |  | $ | 16,084 |
Restricted cash |  | 31,772 |  |  | 31,772 |  |  | 27,933 |  |  | 27,933 |
Derivative assets |  | 53,258 |  |  | 53,258 |  |  | 41,109 |  |  | 41,109 |
Liabilities |  |  |  |  |  |  |  |
Debt: |  |  |  |  |  |  |  |
Unsecured Revolver |  | 240,235 |  |  | 242,468 |  |  | 164,283 |  |  | 169,842 |
Unsecured Term loans |  | 597,390 |  |  | 601,772 |  |  | 596,612 |  |  | 611,265 |
Secured credit facilities |  | 638,204 |  |  | 565,371 |  |  | 660,542 |  |  | 580,332 |
Mortgages (1) |  | 1,239,881 |  |  | 1,116,377 |  |  | 1,210,208 |  |  | 1,088,579 |
(1)Includes indebtedness associated with real estate held for sale of $40,593. In addition to assets and liabilities that are recorded at fair value on a recurring basis, we record assets and liabilities at fair value on a nonrecurring basis as required by U.S. GAAP. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges. As discussed further in Note 3 “Investments in Real Estate”, we recognized an impairment charge of $11,268 during the three months ended September 30, 2023 at the property classified as held for sale as of September 30, 2023. The impairment charge was determined by comparing the fair value of the property to its carrying value. The fair value was based on an internally prepared valuation whose principal assumptions were unobservable cap rates that ranged from 6.0% - 6.5% and was determined to be a Level 3 fair value measurement within the fair value hierarchy.

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