Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Measurements, Recurring and Nonrecurring

The estimated fair values of interest-rate contract/cap arrangements were derived from estimated values based on observable market data for similar instruments.



	March 31, 2014						December 31, 2013
	Carrying Value			Fair Value			Carrying Value		Fair Value
Notes payable	$	827,438		$	835,502		$	931,308	$	940,435
Derivative assets, disclosed as “Interest rate contracts”	33			33			192		192
Derivative liabilities, disclosed as “Interest rate contracts”	(475		)	(475		)	—		—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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