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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Carrying Values and Fair Values of Financial Instruments
The following table displays the carrying values and fair values of financial instruments as of September 30, 2022 and December 31, 2021:
September 30, 2022December 31, 2021
Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Assets carried at historical cost on the condensed consolidated balance sheets:
Investments in debt securities(1)
Level 2$115,034 $111,754 $157,173 $161,356 
Liabilities carried at historical cost on the condensed consolidated balance sheets:
Unsecured Notes — public offering(2)
Level 1$2,237,755 $1,736,081 $1,638,425 $1,599,001 
Mortgage loans(3)
Level 22,216,173 2,123,721 3,065,620 3,110,862 
Unsecured Notes — private placement(4)
Level 2300,000 223,023 300,000 298,822 
Secured Term Loan(5)
Level 3403,363 353,335 403,363 422,519 
Term Loan Facilities(6)
Level 32,650,000 2,652,496 2,500,000 2,506,159 
Convertible Senior Notes(7)
Level 3— — 141,397 141,631 
(1)The carrying values of investments in debt securities are shown net of discount.
(2)The carrying value of the Unsecured Notes — public offering includes $12,245 and $11,575 of unamortized discount and excludes $19,093 and $14,934 of deferred financing costs as of September 30, 2022 and December 31, 2021, respectively.
(3)The carrying values of the mortgage loans are shown net of discount and exclude $8,381 and $9,767 of deferred financing costs as of September 30, 2022 and December 31, 2021, respectively.
(4)The carrying value of the Unsecured Notes — private placement excludes $1,390 and $1,517 of deferred financing costs as of September 30, 2022 and December 31, 2021, respectively.
(5)The carrying value of the Secured Term Loan excludes $1,887 and $2,050 of deferred financing costs as of September 30, 2022 and December 31, 2021, respectively.
(6)The carrying values of the Term Loan Facilities exclude $23,509 and $21,878 of deferred financing costs as of September 30, 2022 and December 31, 2021, respectively.
(7)On January 18, 2022, we settled the outstanding principal balance of the 2022 Convertible Notes with the issuance of 6,216,261 shares of our common stock and a cash payment of $271. The carrying value of the Convertible Senior Notes includes unamortized discounts of $93 as of December 31, 2021.
Fair Value Measurement Inputs and Valuation Techniques
The following table displays the significant unobservable inputs used to develop our Level 3 fair value measurements as of September 30, 2022:
Quantitative Information about Level 3 Fair Value Measurement(1)
Fair ValueValuation TechniqueUnobservable InputRate
Secured Term Loan$353,335 Discounted Cash FlowEffective Rate5.38%
Term Loan Facilities2,652,496 Discounted Cash FlowEffective Rate4.14%—5.72%
(1)Our Level 3 fair value instruments require interest only payments.
Schedule of Impaired Assets, Measured at Fair Value on a Nonrecurring Basis The single-family residential properties for which we have recorded impairments, measured at fair value on a nonrecurring basis, are summarized below:
For the Three Months
Ended September 30,
For the Nine Months
Ended September 30,
2022202120222021
Investments in single-family residential properties, net held for sale (Level 3):
Pre-impairment amount$125 $629 $861 $3,582 
Total impairments(101)(126)(238)(650)
Fair value$24 $503 $623 $2,932