v3.26.3
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 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):

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September 30, 

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December 31, 

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2026

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2025

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Fair value of mortgages payable (a)

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$

513,088

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$

517,660

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Carrying value of mortgages payable, gross

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$

538,375

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$

522,501

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Fair value less than the carrying value

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$

(25,287)

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$

(4,841)

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Blended market interest rate (a)

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6.51

%

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5.44

%

Weighted average interest rate

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4.98

%

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4.88

%

Weighted average remaining term to maturity (years)

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5.3

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5.8

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(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.

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