Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]

Schedule of Fair Value Measurement Inputs

The following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of March 31, 2021 and December 31, 2020, aggregated by the level in the fair value hierarchy within which those measurements fall:

	Balance		Fair Value Measurements Using
Description	March 31, 2021		(Level 1)		(Level 2)		(Level 3)
Interest rate swap liabilities	$	(12,617)	$	—	$	(12,617)	$	—

		Balance		Fair Value Measurements Using
Description		December 31, 2020		(Level 1)		(Level 2)		(Level 3)
Interest rate swap liabilities		$	(17,963)	$	—	$	(17,963)	$	—
Impaired real estate assets	(1)	$	21,141	$	—	$	2,480	$	18,661

(1)    Represents non-recurring fair value measurement. The fair value is calculated as of the impairment date. $2,480 was based on an observable contract thus Level 2. The Company measured $18,661 of these fair values based on discounted cash flow analysis, using a hold period of ten years, a discount rate of 9.0% and residual capitalization rates ranging from 8.0% to 9.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy.

Schedule of Carrying Amounts and Fair Value of Financial Instruments

The table below sets forth the carrying amounts and estimated fair values of the Company's financial instruments, excluding held for sale assets, as of March 31, 2021 and December 31, 2020:

	As of March 31, 2021				As of December 31, 2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Liabilities
Debt	$	1,337,045	$	1,345,226	$	1,341,242	$	1,368,151