XML 80 R73.htm IDEA: XBRL DOCUMENT v3.25.1
Financial Instruments and Fair Value Measurements - Schedule of Items Measured at Fair Value on Nonrecurring Basis (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Real Estate [Line Items]    
Impairment charges $ 6,450 $ 0
Fair Value, Measurements, Nonrecurring    
Real Estate [Line Items]    
Impairment charges [1],[2] 6,450  
Fair Value, Measurements, Nonrecurring | Acadia Realty Trust    
Real Estate [Line Items]    
Impairment charges [1],[2] 1,583  
Fund III | 640 Broadway Manhattan, NY | Fair Value, Measurements, Nonrecurring | Level 3 Inputs Projections    
Real Estate [Line Items]    
Impairment charges [2] $ 6,450  
Triggering Event Reduced holding period  
Fund III | 640 Broadway Manhattan, NY | Fair Value, Measurements, Nonrecurring | Level 3 Inputs Projections | Acadia Realty Trust    
Real Estate [Line Items]    
Impairment charges [2] $ 1,583  
[1] Does not include the impairment charge of $0.1 million related to the Company’s investment in Fifth Wall (Note 4) which is recorded in Realized and unrealized holding gains (losses) on investments and other, in the Company’s condensed consolidated Statement of Operations.
[2] The Company estimated the fair value of 640 Broadway based on a discounted cash flow analysis using a discount rate of 7.65% and a capitalization rate of 5.00%. As significant inputs to the models are unobservable, the Company determined that the value determined for this property falls within Level 3 of the fair value reporting hierarchy. The fair value of 640 Broadway was $48.1 million at the measurement date.