FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2022

FAIR VALUE MEASUREMENTS

Schedule of consolidated hedging instruments

The following table summarizes our consolidated hedging instruments, all of which hedge variable rate debt, as of December 31, 2022 and 2021, respectively (dollars in thousands):

	Fair Value Asset as of December 31,				Change in Fair Value as of December 31,				Notional Amount		All-In Capped Rate		Interest Rate Cap Expiration Date
	2022		2021		2022		2021
Interest Rate Caps:
77 Mortgage Loan	$	1,298	$	59	$	1,239	$	(12)	$	100,000	2.5	%	11/1/2023
237 11th Loans		707		30		677		(2)		60,000	2.5	%	7/9/2023
Included in prepaid expenses and other assets, net	$	2,005	$	89	$	1,916	$	(14)