v3.22.2.2

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Summary of Impairment Charge

The following table summarizes the Company's impairment charges, resulting primarily from changes in the Company's long-term hold strategy, with respect to the individual properties:

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(in thousands, except number of properties)		2022				2021				2022				2021
Number of properties			2				4				3				5
Impairment charge		$	4,155			$	25,989			$	5,535			$	28,001

Summary of Restricted Cash

Restricted cash consisted of the following:

		September 30,				December 31,
(in thousands)		2022				2021
Escrow funds and other		$	6,449			$	6,100

Summary of Rents Received in Advance

Rent received in advance consisted of the following:

(in thousands)		September 30, 2022				December 31, 2021
Rent received in advance		$	21,328			$	15,162

Balances of Financial Instruments Measured at Fair Value on Recurring Basis

The balances of financial instruments measured at fair value on a recurring basis are as follows (see Note 11):

		September 30, 2022
(in thousands)		Total				Level 1				Level 2				Level 3
Interest rate swap, assets		$	66,602			$	—			$	66,602			$	—

		December 31, 2021
(in thousands)		Total				Level 1				Level 2				Level 3
Interest rate swap, liabilities		$	(27,171	)		$	—			$	(27,171	)		$	—

Summary of Carrying Amount Reported on Condensed Consolidated Balance Sheets

The following table summarizes the carrying amount reported on the Condensed Consolidated Balance Sheets and the Company's estimate of the fair value of the unsecured revolving credit facility, mortgages, unsecured term loans, and senior unsecured notes which reflects the fair value of interest rate swaps:

(in thousands)		September 30, 2022				December 31, 2021
Carrying amount		$	2,064,533			$	1,699,160
Fair value			1,855,849				1,785,701

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