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Fair Value of Financial Instruments
3 Months Ended
Mar. 31, 2016
Fair Value of Financial Instruments  
Fair Value of Financial Instruments

7.  Fair Value of Financial Instruments

 

The carrying amount reported in the consolidated balance sheets for cash and cash equivalents, restricted cash, operating lease related receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments.

 

The carrying amount of the Company’s outstanding balance on its Notes Payable as of March 31, 2016 and December 31, 2015 was estimated to have a fair value of approximately $872.9 million and $890.1 million, respectively, based on the fair value of estimated future payments calculated using the prevailing interest rates at each period end.