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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Schedule of Financial Instrument Carrying Amounts and Fair Values | The table below summarizes the carrying amounts and fair value of these financial instruments as of December 31, 2018 and December 31, 2017.
|  | As of December 31, 2018 |  | As of December 31, 2017
(Amounts in thousands) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 440,430 |  |  | $ | 440,430 |  |  | $ | 490,279 |  |  | $ | 490,279 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Mortgages payable(1) |  | $ | 1,562,159 |  |  | $ | 1,543,963 |  |  | $ | 1,578,317 |  |  | $ | 1,579,839 |
(1) Carrying amounts exclude unamortized debt issuance costs of $11.9 million and $13.8 million as of December 31, 2018 and December 31, 2017, respectively.
Schedule of Interest Rates Used for Fair Value of Mortgages Payable | The following market spreads were used by the Company to estimate the fair value of mortgages payable:
| December 31, 2018 |  | December 31, 2017
| Low |  | High |  | Low |  | High
Mortgages payable | 1.7% |  | 1.9% |  | 1.7% |  | 2.1%

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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