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Fair Value Measurements
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Recurring Measurements
The following financial instruments are remeasured at fair value on a recurring basis:
Fair Value Measurements as of
Cash Flow Hedges: (a)
December 31, 2022December 31, 2021
 Level 1Level 2Level 3Level 1Level 2Level 3
Derivative interest rate swaps (b)(c)— $26,721 — — (4,322)— 
(a)During the twelve months subsequent to December 31, 2022, an estimated $11,447 of derivative interest rate assets recognized in accumulated comprehensive income (loss) will be reclassified into earnings.
(b)The Company's derivative assets or liabilities are recognized as a part of deferred costs and other assets, net or other liabilities, respectively. IAGM's derivative assets or liabilities are recognized as a part of investment in unconsolidated entities.
(c)As of December 31, 2022 and 2021, the Company determined that the credit valuation adjustments associated with nonperformance risk are not significant to the overall valuation of its derivatives. As a result, the Company's derivative valuations in their entirety are classified as Level 2 of the fair value hierarchy.

Level 1
At December 31, 2022 and 2021, the Company had no Level 1 recurring fair value measurements.
Level 2
To calculate the fair value of the derivative interest rate instruments, the Company primarily uses quoted prices for similar contracts and inputs based on data that are observed in the forward yield curve that is widely observable in the marketplace. The Company also incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements that utilize Level 3 inputs, such as estimates of current credit spreads.
Level 3
At December 31, 2022 and 2021, the Company had no Level 3 recurring fair value measurements.
Non-Recurring Measurements
Investment Properties
During the years ended December 31, 2022 and 2021, the Company had no Level 3 nonrecurring fair value measurements.
During the year ended December 31, 2020, the Company identified one retail property that had a reduction in its expected holding period and recorded a provision for asset impairment of $9,002 as a result of the fair value being lower than the property's carrying value. The Company's fair value was based on an executed sales contract. This property was disposed of on May 1, 2020.
Assets Held by Unconsolidated Entities
During the year ended December 31, 2020, the Company identified one retail property within the IAGM joint venture that had a reduction in its expected holding period by the joint venture and recorded a provision for asset impairment of $11,016. A discounted cash flow model was utilized to estimate the fair value of this retail property. This cash flow model consisted of unobservable inputs such as forecasted revenues and expenses and estimated net disposition proceeds at the end of the hold period, based on market conditions and expected growth rates. A 8.50% terminal capitalization rate and a discount rate of 9.50% was utilized in the model based upon observable rates that the Company believed to be within a reasonable range of then current market rates, based on the nature of the underlying investment and associated risks. The Company recognized its' share of this provision for asset impairment of $6,059 as part of equity in earnings (losses).
The following table summarizes activity for the Company’s assets measured at fair value on a non-recurring basis and the related impairment charges for the years ended December 31, 2022, 2021, and 2020:
 December 31, 2022December 31, 2021December 31, 2020
 Level 3Impairment LossLevel 3Impairment LossLevel 3Impairment Loss
Investment properties$— $— $— $— $5,500 $9,002 

Financial Instruments Not Measured at Fair Value
The table below represents the estimated fair value of financial instruments presented at carrying values in the Company's consolidated financial statements as of December 31, 2022 and 2021:
December 31, 2022December 31, 2021
Carrying ValueEstimated 
Fair Value		Market
Interest Rate		Carrying ValueEstimated 
Fair Value		Market
Interest Rate
Mortgages payable$109,812 $100,218 6.81 %$105,955 $104,938 4.44 %
Senior notes250,000 235,820 6.05 %— — N/A
Term loans400,000 401,170 5.11 %400,000 400,470 2.39 %
Revolving line of credit— —   N/A 31,000 31,062 2.39 %
The market interest rates used to estimate the fair value of the Company's mortgages payable, senior notes, term loans, and revolving line of credit reflect the terms currently available on similar borrowing terms to borrowers with credit profiles similar to that of the Company's. The Company classifies its debt instrument valuations within Level 2 of the fair value hierarchy.