Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Balance Sheet Fair Values

All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except for the following:

	September 30, 2023				December 31, 2022
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities:
Notes payable, net	$	3,992,093		3,588,977		3,726,754		3,333,378
Unsecured credit facilities	$	77,000		77,000		—		—

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis:

	Fair Value Measurements as of September 30, 2023
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Balance		(Level 1)		(Level 2)		(Level 3)
Assets:
Securities	$	33,881		33,881		—		—
Available-for-sale debt securities		14,423		—		14,423		—
Interest rate derivatives		21,328		—		21,328		—
Total	$	69,632		33,881		35,751		—

	Fair Value Measurements as of December 31, 2022
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Balance		(Level 1)		(Level 2)		(Level 3)
Assets:
Securities	$	40,089		40,089		—		—
Available-for-sale debt securities		14,492		—		14,492		—
Interest rate derivatives		6,575		—		6,575		—
Total	$	61,156		40,089		21,067		—