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Fair Value Measurements and Disclosures (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Fair Value for Interest Rate Options and Investments in Real Estate Technology Funds and Treasury Bill

The following table summarizes the fair value for our interest rate options, investments in stock, our investments in real estate technology funds, and our investment in a treasury bill as of September 30, 2023 and December 31, 2022 (in thousands):

		As of September 30, 2023																As of December 31, 2022
		Total				Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3
Interest rate options		$	9,122			$	—			$	9,122			$	—			$	62,259			$	—			$	62,259			$	—
Investments in stock			2,346				2,346				—				—				1,179				1,179				—				—
Investments in real estate technology funds (1)			2,480				—				—				—				3,117				—				—				—
Investment in treasury bill			54,298				54,298				—				—				—				—				—				—

(1) Investments measured at fair value using NAV as a practical expedient are not classified in the fair value hierarchy.

Summary of Carrying Value and Fair Value of Non-recourse Property Debt, Construction Loans

The following table summarizes the carrying value and fair value of our non-recourse property debt, and construction loans as of September 30, 2023 and December 31, 2022 (in thousands):

		As of September 30, 2023								As of December 31, 2022
		Carrying Value				Fair Value				Carrying Value				Fair Value
Non-recourse property debt		$	876,166			$	796,035			$	938,476			$	878,804
Construction loans			258,787				258,433				126,317				125,954
Total		$	1,134,953			$	1,054,468			$	1,064,793			$	1,004,758

X

- Definition

Tabular disclosure of information about fair value of asset and liability not measured at fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2E

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- References

No definition available.

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X

- 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
-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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-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

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