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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Estimated Fair Values of Financial Instruments | Fair Value Measurements on a Recurring Basis
|  | (in thousands)
| Balance Sheet Location | Total |  | Level 1 |  | Level 2 |  | Level 3
September 30, 2023 |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |
Notes receivable | Other assets | $ | 5,455 |  |  | — |  |  | — |  |  | $ | 5,455 |
December 31, 2022 |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |
Notes receivable | Other assets | $ | 5,871 |  |  | — |  |  | — |  |  | $ | 5,871 |
The estimated fair values of the Company’s financial instruments as of September 30, 2023 and December 31, 2022, respectively, are as follows:
|  | (in thousands)
|  | September 30, 2023 |  | December 31, 2022
| Balance Sheet Location | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
FINANCIAL ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents | Cash and cash equivalents | $ | 29,701 |  |  | $ | 29,701 |  |  | $ | 10,458 |  |  | $ | 10,458 |
Restricted cash | Restricted cash | $ | 22,496 |  |  | $ | 22,496 |  |  | $ | 1,433 |  |  | $ | 1,433 |
FINANCIAL LIABILITIES |  |  |  |  |  |  |  |
Revolving lines of credit | Revolving lines of credit | $ | — |  |  | $ | — |  |  | $ | 113,500 |  |  | $ | 113,500 |
Term loans | Notes payable | $ | — |  |  | $ | — |  |  | $ | 100,000 |  |  | $ | 100,000 |
Unsecured senior notes | Notes payable | $ | 300,000 |  |  | $ | 234,675 |  |  | $ | 300,000 |  |  | $ | 238,446 |
Mortgages payable - Fannie Mae | Mortgages payable | $ | 198,850 |  |  | $ | 157,180 |  |  | $ | 198,850 |  |  | $ | 161,297 |
Mortgages payable - other | Mortgages payable | $ | 343,709 |  |  | $ | 306,678 |  |  | $ | 299,427 |  |  | $ | 274,029 |
Schedule of Changes in Fair Value Receivables | Changes in the fair value of these receivables from period to period are reported in interest and other income on the Condensed Consolidated Statements of Operations.
| (in thousands)
| Fair Value Measurement |  | Other Gains |  | Interest Income |  | Total Changes in Fair Value Included in Current-Period Earnings
Nine months ended September 30, 2023 |  |  |  |  |  |  |
Notes receivable | $ | 5,455 |  |  | $ | 14 |  |  | $ | 197 |  |  | $ | 211 |
Nine months ended September 30, 2022 |  |  |  |  |  |  |
Notes receivable | $ | 5,865 |  |  | $ | 11 |  |  | $ | 600 |  |  | $ | 611 |

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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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + 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 -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 + Details
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