Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Quantitative Disclosure of The Fair Value For Each Major Category Of Assets And Liabilities

For assets and liabilities measured at fair value on a recurring basis, quantitative disclosure of the fair value for each major category of assets and liabilities is presented below:



	Fair Value Measurements at December 31, 2017
	Level 1		Level 2		Level 3
Available-for-sale marketable securities	$	4,431	$	—	$	—
Real estate related bonds	—		327		—
Derivative interest rate swaps	—		1,670		—
Total assets	$	4,431	$	1,997	$	—



	Fair Value Measurements at December 31, 2016
	Level 1		Level 2		Level 3
Available-for-sale real marketable securities	$	182,570	$	—	$	—
Real estate related bonds	—		1,313		—
Derivative interest rate swaps	—		487		—
Total assets	$	182,570	$	1,800	$	—

Assets Measured at Fair Value on Non-Recurring Basis

The asset groups that were reflected at estimated fair value through this evaluation are:



	As of December 31, 2017				As of December 31, 2016				As of December 31, 2015
	Level 3		Impairment Loss		Level 3		Impairment Loss		Level 3		Impairment Loss
Investment properties, continuing operations	$	105,900	$	27,754	$	66,323	$	11,208	$	126,842	$	108,154
Investment properties, discontinued operations	—		—		584,358		106,514		—		—
Total			$	27,754			$	117,722			$	108,154

Fair Value of Financial Instruments Presented at Carrying Values

The table below represents the estimated fair value of financial instruments presented at carrying values in the consolidated financial statements as of December 31, 2017 and 2016.



	December 31, 2017				December 31, 2016
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Mortgages payable	$	370,804	$	372,962	$	434,746	$	435,513
Line of credit and term loan	$	300,000	$	299,770	$	300,000	$	299,741