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Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
The Company’s financial assets and liabilities measured and reported at fair value on a recurring basis include the following as of:
December 31, 2019December 31, 2018
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Derivative assets (1)
$—  $479  $—  $479  $—  $16,687  $—  $16,687  
Derivative liabilities(2)
$—  $(1,791) $—  $(1,791) $—  $—  $—  $—  
Non-real estate investment(1)
$—  $5,545  $—  $5,545  $—  $2,713  $—  $2,713  
_____________ 
1.Included in the prepaid expenses and other assets, net line item in the Consolidated Balance Sheets.
2.Included in the accounts payable, accrued liabilities and other line item on the Consolidated Balance Sheets.

Other Financial Instruments 

The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities are reasonable estimates of fair value, using Level 1 inputs, because of the short-term nature of these instruments. Fair value for investment in U.S. Government securities are estimates based on Level 1 inputs. Fair values for debt are estimates based on rates currently prevailing for similar instruments of similar maturities using Level 2 inputs.

The table below represents the carrying value and fair value of the Company’s investment in securities and debt as of:
 December 31, 2019December 31, 2018
 Carrying ValueFair ValueCarrying ValueFair Value
Assets
U.S. Government securities$140,749  $144,589  $146,880  $147,686  
Liabilities
Unsecured debt(1)
$2,475,000  $2,540,606  $2,275,000  $2,227,265  
Secured debt(1)
$370,459  $366,476  $365,381  $354,109  
In-substance defeased debt$135,030  $134,936  $138,223  $135,894  
Joint venture partner debt
$66,136  $68,557  $66,136  $66,136  
_____________ 
1.Amounts represent debt excluding net deferred financing costs.