Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below presents our assets and liabilities measured at fair value on a recurring basis as of June 30, 2026, aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands):


		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Assets:
Derivative financial instruments		$	—			$	955			$	—			$	955
Total assets at fair value		$	—			$	955			$	—			$	955

The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2025, aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands):


		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Liabilities:
Derivative financial instruments		$	—			$	(929	)		$	—			$	(929	)
Total liabilities at fair value		$	—			$	(929	)		$	—			$	(929	)

Fair Value, by Balance Sheet Grouping

The carrying amounts and estimated fair values of such financial instruments as of June 30, 2026 and December 31, 2025 were as follows (in thousands):


		June 30, 2026								December 31, 2025
		Carrying Amount(1)				Fair Value				Carrying Amount(1)				Fair Value
Financial Assets:
Debt security investment		$	92,463			$	92,982			$	92,136			$	93,107
Financial Liabilities:
Mortgage loans payable		$	873,352			$	786,223			$	966,925			$	898,892
Lines of credit and term loan		$	543,010			$	549,860			$	547,510			$	549,946

(1)

Carrying amount is net of any discount/premium and unamortized deferred financing costs.