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Fair Value Measurement of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, by Balance Sheet Grouping The following table sets forth the carrying and estimated fair value for each of Piedmont’s financial instruments, as well as its level within the GAAP fair value hierarchy, as of September 30, 2023 and December 31, 2022, respectively (in thousands):
 September 30, 2023December 31, 2022
Financial InstrumentCarrying ValueEstimated
Fair Value
Level Within Fair Value HierarchyCarrying ValueEstimated
Fair Value
Level Within Fair Value Hierarchy
Assets:
Cash and cash equivalents (1)
$5,044 $5,044 Level 1$16,536 $16,536 Level 1
Tenant receivables, net (1)
$8,806 $8,806 Level 1$4,762 $4,762 Level 1
Restricted cash and escrows (1)
$5,983 $5,983 Level 1$3,064 $3,064 Level 1
Interest rate swaps$5,841 $5,841 Level 2$4,183 $4,183 Level 2
Liabilities:
Accounts payable and accrued expenses (1)
$15,224 $15,224 Level 1$63,225 $63,225 Level 1
Debt, net$2,050,319 $1,868,624 Level 2$1,983,681 $1,825,723 Level 2

(1)For the periods presented, the carrying value of these financial instruments, net of applicable allowance, approximates estimated fair value due to their short-term maturity.