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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Carrying Values and Fair Values of Debt Instruments | Our material financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):
|  |  | June 30, 2025 |  | December 31, 2024
| Level |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Non-recourse mortgages, net (a) (b) | 3 |  | $ | 117,170 |  |  | $ | 94,552 |  |  | $ | 111,259 |  |  | $ | 91,642 |
NLOP Mezzanine Loan, net (a) (b) (c) (d) | 3 |  | — |  |  | — |  |  | 57,957 |  |  | 61,753 |
__________ (a)The carrying value of Non-recourse mortgages, net includes unamortized premium of $0.1 million and $0.4 million at June 30, 2025 and December 31, 2024, respectively. The carrying value of the NLOP Mezzanine Loan, net (Note 8) includes unamortized discount of $2.2 million at December 31, 2024. (b)We determined the estimated fair value of our non-recourse mortgage loans and NLOP Mezzanine Loan using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates consider interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity. (c)The carrying value of the NLOP Mezzanine Loan, net (Note 8) includes unamortized deferred financing costs of $1.0 million at December 31, 2024. (d)In April 2025, we fully repaid the NLOP Mezzanine Loan (Note 8).
Schedule of Fair Value Impairment Charges Using Unobservable Inputs Nonrecurring Basis | The following table presents information about assets for which we recorded an impairment charge and that were measured at fair value on a non-recurring basis (in thousands):
| Three Months Ended June 30,
| 2025 |  | 2024
| Fair Value Measurements |  | Impairment Charges |  | Fair Value Measurements |  | Impairment Charges
Impairment Charges |  |  |  |  |  |  |
Real estate | $ | 97,768 |  |  | $ | 81,817 |  |  | $ | 74,754 |  |  | $ | 8,222 |
|  |  | $ | 81,817 |  |  |  |  | $ | 8,222 |
| Six Months Ended June 30,
| 2025 |  | 2024
| Fair Value Measurements |  | Impairment Charges |  | Fair Value Measurements |  | Impairment Charges
Impairment Charges |  |  |  |  |  |  |
Real estate | $ | 113,938 |  |  | $ | 82,737 |  |  | $ | 88,464 |  |  | $ | 12,287 |
|  |  | $ | 82,737 |  |  |  |  | $ | 12,287 |

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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