FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Estimated Fair Values of Financial Instruments

Fair Value Measurements on a Recurring Basis

		(in thousands)
	Balance Sheet Location	Total		Level 1		Level 2		Level 3
December 31, 2022
Assets
Notes receivable	Other assets	$	5,871	$	—	$	—	$	5,871
December 31, 2021
Assets
Mortgages and notes receivable	Mortgages receivable	$	49,484	$	—	$	—	$	49,484
Liabilities
Derivative instruments - interest rate swaps	Accounts payable and accrued expenses	$	5,707	$	—	$	—	$	5,707

The estimated fair values of our financial instruments as of December 31, 2022 and 2021 are as follows:

		(in thousands)
		December 31, 2022				December 31, 2021
	Balance Sheet Location	Amount		Fair Value		Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	Cash and cash equivalents	$	10,458	$	10,458	$	31,267	$	31,267
Restricted cash	Restricted cash	1,433		1,433		7,358		7,358
FINANCIAL LIABILITIES
Revolving lines of credit(1)	Revolving lines of credit	113,500		113,500		76,000		76,000
Term loans	Notes payable	100,000		100,000		—		—
Unsecured senior notes	Notes payable	300,000		238,446		300,000		308,302
Mortgages payable - Fannie Mae credit facility	Mortgages payable	198,850		161,297		198,850		198,850
Mortgages payable - other	Mortgages payable	299,427		274,029		284,934		284,546

(1)Excluding the effect of the interest rate swap agreement at December 31, 2021.

Changes in Fair Value Receivables

Changes in fair value of these receivables from period to period are reported in interest and other income on our Consolidated Statements of Operations.

	(in thousands)
	Fair Value Measurement		Other Gains (Losses)		Interest Income		Total Changes in Fair Value Included in Current Period Earnings
Year ended December 31, 2022	$	5,871	$	16	$	669	$	685
Year ended December 31, 2021	$	49,484	$	14	$	2,403	$	2,417