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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Estimated Fair Values of Financial Instruments | Fair Value Measurements on a Recurring Basis
|  | (in thousands)
|  | Total | Level 1 | Level 2 | Level 3
December 31, 2021 |  |  |  |  |
Assets |  |  |  |  |
Mortgages and notes receivable |  | $ | 49,484 |  | $ | — |  | $ | — |  | $ | 49,484 |
Liabilities |  |  |  |  |
Derivative instruments - interest rate swaps |  | $ | 5,707 |  | $ | — |  | $ | — |  | $ | 5,707 |
December 31, 2020 |  |  |  |  |
Assets |  |  |  |  |
Mortgages and notes receivable |  | $ | 30,994 |  | $ | — |  | $ | — |  | $ | 30,994 |
Liabilities |  |  |  |  |
Derivative instruments - interest rate swaps |  | $ | 15,905 |  | $ | — |  | $ | — |  | $ | 15,905 |
The estimated fair values of our financial instruments as of December 31, 2021 and 2020 are as follows:
|  | (in thousands)
|  | December 31, 2021 | December 31, 2020 |
|  | Amount | Fair Value | Amount | Fair Value |  |
FINANCIAL ASSETS |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 31,267 |  | $ | 31,267 |  | $ | 392 |  | $ | 392 |  |  |
Restricted cash |  | 7,358 |  | 7,358 |  | 6,918 |  | 6,918 |  |  |
FINANCIAL LIABILITIES |  |  |  |  |  |  |
Revolving lines of credit(1) |  | 76,000 |  | 76,000 |  | 152,871 |  | 152,871 |  |  |
Term loans(1) |  | — |  | — |  | 145,000 |  | 145,000 |  |  |
Unsecured senior notes |  | 300,000 |  | 308,302 |  | 125,000 |  | 133,181 |  |  |
Mortgages payable - Fannie Mae credit facility |  | 198,850 |  | 198,850 |  | — |  | — |  |  |
Mortgages payable - other |  | 284,934 |  | 284,546 |  | 298,445 |  | 308,855 |  |  |
(1)Excluding the effect of the interest rate swap agreement.
Changes in Fair Value Receivables | Changes in fair value of these receivables from period to period are reported in interest and other income on our Consolidated Statements of Operations.
|  | (in thousands)
|  | Fair Value Measurement | Other Gains (Losses) | Interest Income | Total Changes in Fair Value Included in Current Period Earnings
Year ended December 31, 2021 |  | $ | 49,484 |  | $ | 14 |  | $ | 2,403 |  | $ | 2,417 |
Year ended December 31, 2020 |  | $ | 30,994 |  | $ | 12 |  | $ | 1,442 |  | $ | 1,454 |

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- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + 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 (a) -URI http://asc.fasb.org/extlink&oid=123874694&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 (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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