FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments with Fair Values Different from their Carrying Amount

The following are financial instruments for which the Company’s estimates of fair value differ from the carrying amounts (in thousands):

	December 31, 2022				December 31, 2021
	Carrying Amount (a)		Fair Value		Carrying Amount (a)		Fair Value
Unsecured notes payable	$	1,549,760	$	1,411,351	$	1,502,368	$	1,588,780
Variable rate debt	$	415,278	$	386,988	$	351,218	$	344,754
Notes receivable (b)	$	—	$	—	$	44,430	$	45,230

(a)Net of deferred financing costs of $7.5 million and $5.8 million for unsecured notes payable, $1.8 million and $0.4 million for variable rate debt as of December 31, 2022 and December 31, 2021, respectively.

(b)For further detail, refer to Note 5 “Debt and Preferred Equity Investments.”