Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value

Financial assets measured at fair value on our consolidated balance sheets as of June 30, 2020 and December 31, 2019, consist of marketable securities, which are presented in the table below based on their level in the fair value hierarchy, and an interest rate cap, which fair value was insignificant as of June 30, 2020 and December 31, 2019. There were no financial liabilities measured at fair value as of June 30, 2020 and December 31, 2019.

	As of June 30, 2020
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	5,065	$	5,065	$	—	$	—

	As of December 31, 2019
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	14,409	$	14,409	$	—	$	—

Financial Assets and Liabilities Not Measured at Fair Value

The table below summarizes the carrying amounts and fair values of these financial instruments as of June 30, 2020 and December 31, 2019.

	As of June 30, 2020				As of December 31, 2019
(Amounts in thousands)	Carrying  Amount		Fair     Value		Carrying     Amount		Fair     Value
Assets:
Cash equivalents	$	406,109	$	406,109	$	263,688	$	263,688
Liabilities:
Mortgages payable (excluding deferred debt  issuance costs, net)	$	1,120,544	$	1,098,000	$	974,836	$	974,000