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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
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 December 31, 2023 and 2022:
December 31, 2023December 31, 2022
Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Assets carried at historical cost on the consolidated balance sheets:
Investments in debt securities(1)
Level 2$86,471 $84,591 $86,980 $84,992 
Liabilities carried at historical cost on the consolidated balance sheets:
Unsecured Notes — public offering(2)
Level 1$3,029,856 $2,725,884 $2,238,066 $1,798,658 
Mortgage loans(3)
Level 21,633,585 1,576,813 1,653,724 1,588,550 
Unsecured Notes — private placement(4)
Level 2300,000 245,766 300,000 228,726 
Secured Term Loan(5)
Level 3403,129 369,402 403,363 356,557 
Term Loan Facilities(6)
Level 33,225,000 3,230,747 3,225,000 3,233,677 
(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 $20,144 and $11,934 of unamortized discount and excludes $23,211 and $18,534 of deferred financing costs as of December 31, 2023 and 2022, respectively.
(3)The carrying values of the mortgage loans include $1,232 and $1,584 of unamortized discount and exclude $6,329 and $7,929 of deferred financing costs as of December 31, 2023 and 2022, respectively.
(4)The carrying value of the Unsecured Notes — private placement excludes $1,178 and $1,347 of deferred financing costs as of December 31, 2023 and 2022, respectively.
(5)The carrying value of the Secured Term Loan excludes $1,614 and $1,833 of deferred financing costs as of December 31, 2023 and 2022, respectively.
(6)The carrying values of the Term Loan Facilities exclude $13,186 and $21,433 of deferred financing costs as of December 31, 2023 and 2022, respectively.
Schedule of 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 December 31, 2023:
Quantitative Information about Level 3 Fair Value Measurement(1)
Fair ValueValuation TechniqueUnobservable InputRate
Secured Term Loan$369,402 Discounted Cash FlowEffective Rate4.93%
Term Loan Facilities3,230,747 Discounted Cash FlowEffective Rate4.34%—6.69%
(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 Years Ended December 31,
202320222021
Investments in single-family residential properties, net held for sale (Level 3):
Pre-impairment amount$2,208 $1,208 $3,582 
Total impairments(427)(310)(650)
Fair value$1,781 $898 $2,932