Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Values of Financial Assets Measured at Recurring Basis

The fair values of these financial assets and liabilities were determined using the following input levels as of the dates presented: 

	Net Carrying Value				Fair Value Measurements Using Fair Value Hierarchy
(in thousands)			Fair Value		Level 1		Level 2		Level 3
March 31, 2023
Financial assets (liabilities):
Interest rate swaps	$	30,616	$	30,616	$	—	$	30,616	$	—
Senior unsecured notes(1)	(395,426)		(295,720)		(295,720)		—		—
December 31, 2022
Financial assets (liabilities):
Interest rate swaps	$	45,603	$	45,603	$	—	$	45,603	$	—
Senior unsecured notes(1)	(395,286)		(292,120)		(292,120)		—		—

_____________________________________

(1)Carrying value is net of $3.9 million and $4.0 million of net deferred financing costs and $0.6 million and $0.7 million of net discount as of March 31, 2023 and December 31, 2022, respectively.

Schedule of Fair Values of Real Estate Investments Measured at Nonrecurring Basis

The fair values of real estate investments that were impaired as of the dates presented were determined using the following input levels.

	Net Carrying Value				Fair Value Measurements Using Fair Value Hierarchy
(in thousands)			Fair Value		Level 1		Level 2		Level 3
March 31, 2023
Non-financial assets:
Long-lived assets	$	2,100	$	2,100	$	—	$	—	$	2,100
December 31, 2022
Non-financial assets:
Long-lived assets	$	12,144	$	12,144	$	—	$	—	$	12,144

Schedule of Fair Value Valuation Techniques

(dollar amounts in thousands)	Fair Value		Valuation Techniques	Significant Unobservable Inputs
Non-financial assets:
Long-lived assets
Restaurant - Jacksonville, FL	$	1,750	Sales comparison approach	Non-binding sales agreement	$	1,750
Convenience Store - Deming, NM	100		Sales comparison approach	Non-binding sales agreement	100
Restaurant - Davenport, IA	250		Sales comparison approach	Non-binding listing agreement	250