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Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2017
Fair Value Disclosures [Abstract] |
Schedule of fair value, assets and liabilities measured on recurring basis | The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (in thousands):
|  | September 30, 2017 |  | December 31, 2016
|  | Level 1 |  | Level 2 |  | Level 3 |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money Market Funds |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 20,001 |  |  | $ | — |  |  | $ | — |
Derivative financial instruments |  | — |  |  | 2,661 |  |  | — |  |  | — |  |  | 2,921 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  | — |  |  | 3,468 |  |  | — |  |  | — |  |  | 3,590 |  |  | — |
Schedule of derivative financial instruments | The Company had the following interest rate swaps for the periods presented (dollars in thousands):
| Aggregate Notional Amount |  |  | Strike Rate | Balance Sheet Location | Fair Value
Derivative Instrument | Effective Date | Maturity Date | Low |  | High | September 30, 2017 |  | December 31, 2016
Core |  |  |  |  |  |  |  |  |  |
Interest Rate Swaps | $ | 149,440 |  | Oct 2011 - March 2015 | July 2018 - Mar 2025 | 1.38% | — | 3.77% | Other Liabilities | $ | (2,936 | ) |  | $ | (3,218 | )
Interest Rate Swaps | 204,593 |  | Sep 2012 - July 2017 | July 2020 - July 2027 | 1.24% | — | 3.77% | Other Assets | 2,622 |  |  | 2,609 |
| $ | 354,033 |  |  |  |  |  |  |  | $ | (314 | ) |  | $ | (609 | )
Fund II |  |  |  |  |  |  |  |  |  |
Interest Rate Swap | $ | 19,616 |  | October 2014 | November 2021 | 2.88% | — | 2.88% | Other Liabilities | $ | (168 | ) |  | $ | (228 | )
Interest Rate Cap | 29,500 |  | April 2013 | April 2018 | 4.00% | — | 4.00% | Other Assets | — |  |  | — |
| $ | 49,116 |  |  |  |  |  |  |  | $ | (168 | ) |  | $ | (228 | )
Fund III |  |  |  |  |  |  |  |  |  |
Interest Rate Cap | $ | 58,000 |  | Dec 2016 | Jan 2020 | 3.00% | — | 3.00% | Other Assets | $ | 17 |  |  | $ | 127 |
Fund IV |  |  |  |  |  |  |  |  |  |
Interest Rate Swaps | $ | 81,156 |  | May 2014 - March 2017 | May 2019 - April 2022 | 1.78% | — | 1.98% | Other Liabilities | $ | (364 | ) |  | $ | (144 | )
Interest Rate Caps | 108,900 |  | July 2016 - November 2016 | August 2019 - December 2019 | 3.00% | — | 3.00% | Other Assets | 22 |  |  | 185 |
| $ | 190,056 |  |  |  |  |  |  |  | $ | (342 | ) |  | $ | 41 |
Total asset derivatives |  |  |  |  |  |  | $ | 2,661 |  |  | $ | 2,921 |
Total liability derivatives |  |  |  |  |  |  | $ | (3,468 | ) |  | $ | (3,590 | )
Gain (loss) on derivative instruments within the statement of income | The following table presents the location in the financial statements of the income (losses) recognized related to the Company’s cash flow hedges (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Amount of (loss) income related to the effective portion recognized in other comprehensive income | $ | (644 | ) |  | $ | 1,474 |  |  | $ | (2,652 | ) |  | (12,624 | )
Amount of loss related to the effective portion subsequently reclassified to earnings | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Amount of gain (loss) related to the ineffective portion and amount excluded from effectiveness testing | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Fair value, by balance sheet grouping | The Company’s other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):
|  |  |  | September 30, 2017 |  | December 31, 2016
|  | Level |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Notes Receivable (a) |  | 3 |  | $ | 250,194 |  |  | $ | 247,143 |  |  | $ | 276,163 |  |  | $ | 272,052 |
Mortgage and Other Notes Payable, net (a) |  | 3 |  | 1,060,550 |  |  | 1,066,539 |  |  | 1,071,034 |  |  | 1,077,926 |
Investment in non-traded equity securities (b) |  | 3 |  | — |  |  | 22,904 |  |  | 802 |  |  | 25,194 |
Unsecured notes payable and Unsecured line of credit, net (c) |  | 2 |  | 558,620 |  |  | 559,978 |  |  | 434,636 |  |  | 435,779 |
__________
(a) | The Company determined the estimated fair value of these financial instruments using a discounted cash flow model with rates that take into account the credit of the borrower or tenant, where applicable, and interest rate risk. The Company also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the borrower, the time until maturity and the current market interest rate environment.
(b) | Represents Fund II’s cost-method investment in Albertson’s supermarkets (Note 4).
(c) | The Company determined the estimated fair value of the unsecured notes payable and unsecured line of credit using quoted market prices in an open market with limited trading volume where available. In cases where there was no trading volume, the Company determined the estimated fair value using a discounted cash flow model using a rate that reflects the average yield of similar market participants.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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