v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Values of Financial Instrument Not Recorded at Fair Value on a Recurring Basis
The estimated fair values of those financial instruments which are not recorded at fair value on a recurring basis on the Company’s consolidated balance sheets are as follows (dollar amount in thousands):
June 30, 2026December 31, 2025
CarryingEstimatedCarryingEstimated
AmountFair ValueAmountFair ValueLevel
Liabilities:
Mortgages payable (1)
$266,403 $248,894 $268,403 $251,632 3
Junior subordinated notes (1)
$27,070 $26,225 $27,070 $26,176 3
(1)The carrying amounts for the mortgages payable and junior subordinated notes represent the principal outstanding amounts, excluding deferred debt issuance costs and discounts.
Schedule of Impairment Charges by Asset Class
The following table presents the impairment charges by asset class recorded during the three and six months ended June 30, 2025 (in thousands):
Three and Six Months Ended June 30, 2025
Asset class impaired:
Work in progress$(221)
Total impairment loss$(221)