v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2026
FAIR VALUE MEASUREMENTS  
Schedule of fair value and carrying amounts of the Company's mortgages payable

The fair value and carrying amounts of the Company’s mortgages payable are as follows (dollars in thousands):

March 31, 

December 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Fair value of mortgages payable (a)

$

530,252

$

517,660

Carrying value of mortgages payable, gross

$

534,656

$

522,501

Fair value less than the carrying value

$

(4,404)

$

(4,841)

Blended market interest rate (a)

5.47

%

5.44

%

Weighted average interest rate

4.91

%

4.88

%

Weighted average remaining term to maturity (years)

5.6

5.8

(a)Estimated using unobservable inputs such as available market information and discounted cash flow analysis based on borrowing rates the Company believes it could obtain with similar terms and maturities. These fair value measurements fall within Level 3 of the fair value hierarchy.

Schedule of effect of derivative financial instruments on statements of income

The following table presents the effect of the Company’s derivative financial instruments on the consolidated statements of income for the periods presented (amounts in thousands):

Three Months Ended

March 31, 

  ​ ​ ​

2026

2025

  ​ ​ ​

Amount of gain recognized on derivatives in other comprehensive income

$

1

$

1

Amount of reclassification from Accumulated other comprehensive income into Interest expense

8

79