XML 40 R28.htm IDEA: XBRL DOCUMENT v3.21.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measure at Fair Value on a Recurring Basis
The following table sets forth the assets and liabilities that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2021 and December 31, 2020:
Assets/(Liabilities)Total Fair ValueQuoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable InputsSignificant Unobservable Inputs
June 30, 2021
Interest Rate Swap Liability$(37,205)$— $(37,205)$— 
Corporate Owned Life Insurance Asset$6,753 $— $6,753 $— 
Mutual Funds Asset$5,258 $5,258 $— $— 
Deferred Compensation Liability$(8,895)$— $(8,895)$— 
December 31, 2020
Interest Rate Swap Liability$(53,975)$— $(53,975)$— 
Corporate Owned Life Insurance Asset$4,454 $— $4,454 $— 
Mutual Funds Asset$6,643 $6,643 $— $— 
Deferred Compensation Liability$(10,599)$— $(10,599)$— 
Quantitative Information Related to Non-recurring Fair Value Measurements The following table is a summary of the quantitative information related to the non-recurring fair value measurement for the impairment of the Company's real estate properties for the six months ended June 30, 2021:
Range of Inputs or Inputs
Unobservable Inputs:2200 Channahon RoadHouston Westway I
Expected selling price per square foot $8.30$72.90
Estimated hold period
Less than one year
Less than one year
Schedule of Carrying Values and Estimated Fair Values of Financial Instruments The fair value of the ten mortgage loans in the table below is estimated by discounting each loan’s principal balance over the remaining term of the mortgage using current borrowing rates available to the Company for debt instruments with similar terms and maturities. The Company determined that the mortgage debt valuation in its entirety is classified in Level 2 of the fair value hierarchy, as the fair value is based on current pricing for debt with similar terms as the in-place debt.
 June 30, 2021December 31, 2020
 Fair Value
Carrying Value (1)
Fair Value
Carrying Value (1)
BOA Loan$357,049 $375,000 $355,823 $375,000 
BOA/KeyBank Loan261,885 250,000 263,454 250,000 
AIG Loan II120,944 125,710 121,011 126,792 
AIG Loan102,047 102,889 102,033 103,870 
Midland Mortgage Loan97,313 97,077 97,709 98,155 
Samsonite Loan20,271 19,648 21,030 20,165 
HealthSpring Mortgage Loan20,072 19,940 20,462 20,208 
Pepsi Bottling Ventures Loan18,686 18,404 18,942 18,587 
Highway 94 Loan13,953 14,215 14,447 14,689 
Emporia Partners Mortgage Loan1,397 1,377 1,654 1,627 
Total$1,013,617 $1,024,260 $1,016,565 $1,029,093 
(1)The carrying values do not include the debt premium/(discount) or deferred financing costs as of June 30, 2021 and December 31, 2020. See Note 5, Debt, for details.