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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of 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
						March 31, 2023																		December 31, 2022
Cash Flow Hedges: (a) (b)						Level 1						Level 2 (c)						Level 3						Level 1						Level 2 (d)						Level 3
Derivative interest rate swap assets						$	—					$	22,368					$	—					$	—					$	26,721					$	—
Derivative interest rate swap liabilities						$	—					$	(960)					$	—					$	—					$	—					$	—

(a)During the twelve months subsequent to March 31, 2023, an estimated $11,281 of derivative interest rate balances recognized in accumulated comprehensive income will be reclassified into earnings.

(b)As of March 31, 2023 and December 31, 2022, 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.

(c)The Company's derivative assets or liabilities are recognized as a part of deferred costs and other assets, net or other liabilities, respectively.

(d)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 were recognized as a part of investment in unconsolidated entities.

Schedule of 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 March 31, 2023 and December 31, 2022:

			March 31, 2023																		December 31, 2022
			Carrying Value						Estimated  Fair Value						Market Interest Rate						Carrying Value						Estimated  Fair Value						Market Interest Rate
Mortgages payable			$	188,548					$	180,975					6.72		%				$	109,812					$	100,218					6.81		%
Senior notes			250,000						241,916						5.66		%				250,000						235,820						6.05		%
Term loans			400,000						400,762						4.78		%				400,000						401,170						5.11		%
Revolving line of credit			—						—						N/A						—						—						N/A

X

- 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 https://asc.fasb.org/extlink&oid=123594938&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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