Fair Value of Assets and Liabilities

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

Fair Value of Assets and Liabilities

As of March 31, 2020, we do not have any assets or liabilities measured at fair value.

Financial Instruments

Our financial instruments include our cash and cash equivalents, restricted cash and mortgage note payable.  At March 31, 2020 and December 31, 2019, the fair value of these additional financial instruments was not materially different from their carrying values, except as follows (in thousands):

	March 31, 2020				December 31, 2019
	Principal Balance		Fair Value		Principal Balance		Fair Value
Mortgage note payable	$	25,285	$	25,285	$	25,433	$	26,071

The fair value of our mortgage note payable is based on estimates using discounted cash flow analyses and currently prevailing interest rates adjusted by credit risk spreads (level 3 inputs).

Other financial instruments that potentially subject us to concentrations of credit risk consist principally of rents receivable. As of March 31, 2020, no single tenant of ours is responsible for more than 5.0% of our consolidated revenues.