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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2019
Fair Value Disclosures [Abstract] |
Fair Value, Liabilities Measured on Recurring Basis | The following table presents information about the Company’s assets and liabilities (including derivatives that are presented net) measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018, aggregated by the level in the fair value hierarchy within which those instruments fall.
(In thousands) |  | Quoted Prices in Active Markets Level 1 |  | Significant Other Observable Inputs Level 2 |  | Significant Unobservable Inputs Level 3 |  | Total
September 30, 2019 |  |  |  |  |  |  |  |
Foreign currency forwards, net (GBP & EUR) |  | $ | — |  |  | $ | 7,332 |  |  | $ | — |  |  | $ | 7,332 |
Interest rate swaps, net (USD,GBP & EUR) |  | $ | — |  |  | $ | (10,497 | ) |  | $ | — |  |  | $ | (10,497 | )
December 31, 2018 |  |  |  |  |  |  |  |
Foreign currency forwards, net (GBP & EUR) |  | $ | — |  |  | $ | 5,472 |  |  | $ | — |  |  | $ | 5,472 |
Interest rate swaps, net (USD,GBP & EUR) |  | $ | — |  |  | $ | (628 | ) |  | $ | — |  |  | $ | (628 | )
2018 OPP (1) |  | $ | — |  |  | $ | — |  |  | $ | (18,804 | ) |  | $ | (18,804 | )
(1) Effective with the adoption of ASU 2018-07 on January 1, 2019, the 2018 OPP is no longer measured at fair market value on a recurring basis (see Note 2 — Summary of Significant Accounting Policies — Recently Issued Accounting Pronouncements and see Note 12 — Equity-Based Compensation for additional information).
Fair Value, by Balance Sheet Grouping | The fair values of the Company’s remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below.
|  |  |  | September 30, 2019 |  | December 31, 2018
(In thousands) |  | Level |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Mortgage notes payable (1) (2) |  | 3 |  | $ | 1,366,818 |  |  | $ | 1,439,910 |  |  | $ | 1,129,807 |  |  | $ | 1,157,710 |
Revolving Credit Facility (3) |  | 3 |  | $ | 101,405 |  |  | $ | 101,437 |  |  | $ | 363,894 |  |  | $ | 365,591 |
Term Loan (3) (4) |  | 3 |  | $ | 389,885 |  |  | $ | 396,867 |  |  | $ | 278,727 |  |  | $ | 283,558 |
__________________________________________________________
(1) | Carrying value includes $1.4 billion gross mortgage notes payable less $0.1 million of mortgage discounts and $15.5 million of deferred financing costs as of September 30, 2019.
(2) | Carrying value includes $1.1 billion gross mortgage notes payable less $0.6 million of mortgage discounts and $9.7 million of deferred financing costs as of December 31, 2018.
(3) | Both the Revolving Credit Facility and the Term Loan are part of the Credit Facility (see Note 5 — Credit Facilities for more information).
(4) | Carrying value includes $392.5 million and $282.1 million gross Term Loan payable less $2.6 million and $3.3 million of deferred financing costs as of September 30, 2019 and December 31, 2018, respectively.

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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=109250915&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=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 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=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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