Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Fair Value for Interest Rate Options and Investment in Real Estate Technology Funds

The following table summarizes the fair value of our interest rate options and our investment in real estate technology funds as of December 31, 2021 and 2020 (in thousands): 

	As of December 31, 2021								As of December 31, 2020
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Interest rate option	$	25,449	$	—	$	25,449	$	—	$	13,315	$	—	$	13,315	$	—
Investment in real estate technology funds (1)	$	9,613	$	—	$	—	$	—	$	2,293	$	—	$	—	$	—

(1) Investments measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Summary of Carrying Value and Fair Value of Non-recourse Property Debt

The following table summarizes carrying value and fair value of our non-recourse property debt and construction loans debt as of December 31, 2021 and 2020 (in thousands):

	2021				2020
	As of December 31, 2021				As of December 31, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
Non-recourse property debt	$	484,883	$	498,960	$	449,510	$	467,010
Construction loans debt	$	168,376	$	168,376		—		—