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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Quantitative Disclosure of the Fair Value for Each Major Category of Assets and Liabilities | The following financial instruments are remeasured at fair value on a recurring basis:
|  | Fair Value Measurements as of
|  | September 30, 2020 |  | December 31, 2019
Cash Flow Hedges: (a) |  | Level 1 |  | Level 2 |  | Level 3 |  | Level 1 |  | Level 2 |  | Level 3
Derivative interest rate assets (b) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,057 |  |  | $ | — |
Derivative interest rate liabilities (c) |  | — |  |  | (13,798) |  |  | — |  |  | — |  |  | — |  |  | — |
(a)During the twelve months subsequent to September 30, 2020, an estimated $4,172 of derivative interest rate liabilities recognized in accumulated comprehensive income (loss) will be reclassified into earnings. (b)Recognized as a part of deferred costs and other assets, net, on the condensed consolidated balance sheets. (c)Recognized as a part of other liabilities on the condensed consolidated balance sheets.
Fair Value of Financial Instruments Presented at Carrying Values | The table below summarizes the estimated fair value of financial instruments presented at carrying values in the Company's condensed consolidated financial statements as of September 30, 2020 and December 31, 2019:
| September 30, 2020 |  | December 31, 2019
| Carrying Value | Estimated Fair Value |  | Carrying Value | Estimated Fair Value
Mortgages payable | $ | 107,580 |  | $ | 107,194 |  |  | $ | 176,051 |  | $ | 178,937 |
Term loans | $ | 400,000 |  | $ | 400,014 |  |  | $ | 400,000 |  | $ | 400,020 |
Revolving line of credit | $ | 150,000 |  | $ | 150,172 |  |  | $ | — |  | $ | — |

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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=121572278&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=117815213&loc=d3e19207-110258 + 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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