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Fair Value Measurements and Disclosures (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Summary of Fair Value for Interest Rate Contracts and Investments in Stock and Real Estate Technology Funds

The following table summarizes the fair value for our interest rate contracts, investments in stock, and our investments in real estate technology funds as of March 31, 2025 and December 31, 2024 (in thousands):

		As of March 31, 2025																As of December 31, 2024
		Total				Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3
Interest rate contracts		$	620			$	—			$	620			$	—			$	862			$	—			$	862			$	—
Investments in stock			1,088				1,088				—				—				1,573				1,573				—				—
Investments in real estate technology funds (1)			3,760				—				—				—				3,468				—				—				—
Total assets		$	5,468			$	1,088			$	620			$	—			$	5,903			$	1,573			$	862			$	—

(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 Our Non-recourse Property Debt and Non-recourse Construction Loans

The following table summarizes the carrying value and fair value of our non-recourse property debt, and non-recourse construction loans as of March 31, 2025 and December 31, 2024 (in thousands):

		As of March 31, 2025								As of December 31, 2024
		Carrying Value				Fair Value				Carrying Value				Fair Value
Description:
Non-recourse property debt		$	689,521			$	658,475			$	689,885			$	641,563
Non-recourse construction loans			405,432				408,745				393,750				393,756
Total		$	1,094,953			$	1,067,220			$	1,083,635			$	1,035,319

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/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

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