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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Financial Assets Measured at Fair Value | The following table summarizes the fair value of our financial assets that are measured at fair value on our consolidated balance sheets as of the dates set forth below, based on their levels in the fair value hierarchy.
|  | As of December 31, 2024 |
(Amounts in thousands) |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Interest rate cap assets (included in "other assets") |  | $ | 3,650 |  |  | $ | - |  |  | $ | 3,650 |  |  | $ | - |
Total assets |  | $ | 3,650 |  |  | $ | - |  |  | $ | 3,650 |  |  | $ | - |
|  | As of December 31, 2023 |
(Amounts in thousands) |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Interest rate swap and cap assets (included in "other assets") |  | $ | 14,989 |  |  | $ | - |  |  | $ | 14,989 |  |  | $ | - |
Total assets |  | $ | 14,989 |  |  | $ | - |  |  | $ | 14,989 |  |  | $ | - |
Summary of Changes in Fair Value of Real Estate Related Fund Investments | The table below summarizes the changes in the fair value of real estate related fund investments for the year ended December 31, 2023.
|  | For the Year Ended |
(Amounts in thousands) |  | December 31, 2023 |
Beginning balance |  | $ | 105,369 |
Additional investments |  |  | 11,897 |
Proceeds from sale of an investment |  |  | (8,769 | )
Net realized losses |  |  | (46,894 | )
Net unrealized losses |  |  | (60,828 | )
Other, net |  |  | (775 | )
Ending balance |  | $ | - |
Summary of Carrying Amounts and Fair Value of Financial Instruments | The following table summarizes the carrying amounts and fair value of these financial instruments as of the dates set forth below.
| As of December 31, 2024 |  |  | As of December 31, 2023 |
(Amounts in thousands) | Carrying Amount |  |  | Fair Value |  |  | Carrying Amount |  |  | Fair Value |
Notes and mortgages payable | $ | 3,692,050 |  |  | $ | 3,412,126 |  |  | $ | 3,817,050 |  |  | $ | 3,517,549 |
Revolving credit facility |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total liabilities | $ | 3,692,050 |  |  | $ | 3,412,126 |  |  | $ | 3,817,050 |  |  | $ | 3,517,549 |

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- Definition Tabular disclosure of assets, 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). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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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 -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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