Marketable Securities, Derivative Financial Instruments, Fair Value Measurements and Notes Payable (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Marketable Securities Derivative Financial Instruments Fair Value Measurements And Notes Payable [Abstract] |
|
| Schedule of available for sale securities |
The
following is a summary of the Company’s available for sale securities:
| | |
As of March 31, 2026 | |
| | |
Adjusted
Cost | | |
Gross
Unrealized
Gains | | |
Gross
Unrealized
Losses | | |
Fair
Value | |
| Marketable Securities: | |
| | |
| | |
| | |
| |
| Equity securities: | |
| | |
| | |
| | |
| |
| Common and Preferred Equity Securities | |
$ | 4,220 | | |
$ | 411 | | |
$ | (81 | ) | |
$ | 4,550 | |
| Simon OP Units | |
| 18,336 | | |
| 19,016 | | |
| - | | |
| 37,352 | |
| | |
| 22,556 | | |
| 19,427 | | |
| (81 | ) | |
| 41,902 | |
| Debt securities: | |
| | | |
| | | |
| | | |
| | |
| Corporate Bonds | |
| 1,007 | | |
| 7 | | |
| - | | |
| 1,014 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 23,563 | | |
$ | 19,434 | | |
$ | (81 | ) | |
$ | 42,916 | |
| | |
As of December 31, 2025 | |
| | |
Adjusted
Cost | | |
Gross
Unrealized
Gains | | |
Gross
Unrealized
Losses | | |
Fair
Value | |
| Marketable Securities: | |
| | |
| | |
| | |
| |
| Equity securities: | |
| | |
| | |
| | |
| |
| Common and Preferred Equity Securities | |
$ | 4,209 | | |
$ | 396 | | |
$ | (93 | ) | |
$ | 4,512 | |
| Simon OP Units | |
| 18,336 | | |
| 18,732 | | |
| - | | |
| 37,068 | |
| | |
| 22,545 | | |
| 19,128 | | |
| (93 | ) | |
| 41,580 | |
| Debt securities: | |
| | | |
| | | |
| | | |
| | |
| Corporate Bonds | |
| 1,007 | | |
| 47 | | |
| - | | |
| 1,054 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 23,552 | | |
$ | 19,175 | | |
$ | (93 | ) | |
$ | 42,634 | |
|
| Schedule of marketable securities measured at fair value on a recurring basis |
Marketable
securities, available for sale, and derivative financial instruments measured at fair value on a recurring basis:
| | |
Fair Value Measurement Using | | |
| |
| As of March 31, 2026 | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Marketable Securities: | |
| | |
| | |
| | |
| |
| Common and Preferred Equity Securities | |
$ | 1,808 | | |
$ | 2,742 | | |
$ | - | | |
$ | 4,550 | |
| Simon OP Units | |
| - | | |
| 37,352 | | |
| - | | |
| 37,352 | |
| Corporate Bonds | |
| - | | |
| 1,014 | | |
| - | | |
| 1,014 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 1,808 | | |
$ | 41,108 | | |
$ | - | | |
$ | 42,916 | |
| | |
Fair Value Measurement Using | | |
| |
| As of December 31, 2025 | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Marketable Securities: | |
| | |
| | |
| | |
| |
| Common and Preferred Equity Securities | |
$ | 1,794 | | |
$ | 2,718 | | |
$ | - | | |
$ | 4,512 | |
| Simon OP Units | |
| - | | |
| 37,068 | | |
| - | | |
| 37,068 | |
| Corporate Bonds | |
| - | | |
| 1,054 | | |
| - | | |
| 1,054 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 1,794 | | |
$ | 40,840 | | |
$ | - | | |
$ | 42,634 | |
|
| Schedule of available-for-sale securities and classified by the contractual maturity date |
The
following table summarizes the estimated fair value of the Company’s investments in debt securities with stated contractual maturity
dates, accounted for as available-for-sale securities and classified by the contractual maturity date of the securities:
| | |
As of | |
| | |
March 31,
2026 | |
| Due in 1 year | |
$ | - | |
| Due in 1 year through 5 years | |
| - | |
| Due in 5 years through 10 years | |
| - | |
| Due after 10 years | |
| 1,014 | |
| Total | |
$ | 1,014 | |
|
| Schedule of mortgage debt |
The
carrying amounts and estimated fair values of the Company’s mortgage debt (amounts in millions) are summarized as follows:
| | |
As of March 31, 2026 | | |
As of December 31, 2025 | |
| | |
Carrying Amount | | |
Estimated Fair Value | | |
Carrying Amount | | |
Estimated Fair Value | |
| Mortgages payable | |
$ | 222.4 | | |
$ | 223.4 | | |
$ | 222.6 | | |
$ | 224.0 | |
|