FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of fair value of company's financial assets and liabilities

In accordance with the fair value hierarchy described above, the following tables show the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 (in thousands):


	Balance as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	March 31, 2021		(Level 1)		(Level 2)		(Level 3)
Financial assets:

Marketable securities	$	15,062	$	15,062	$	—	$	—

Financial liabilities:
Interest rate swaps	$	(6,996)	$	—	$	(6,996)	$	—


	Balance as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	December 31, 2020		(Level 1)		(Level 2)		(Level 3)
Financial assets:

Marketable securities	$	15,496	$	15,496	$	—	$	—

Financial liabilities:
Interest rate swaps	$	(8,509)	$	—	$	(8,509)	$	—

Schedule of real estate impairment charges

The following summarizes the ranges of discount rates and terminal capitalization rates used for the Company’s impairment test for the real estate assets during the three months ended March 31, 2020:


Three Months Ended March 31, 2020
Discount Rate						Terminal Capitalization Rate
9.7%						9.2%

The following table presents the impairment charges by asset class recorded during the three months ended March 31, 2020 (in thousands):



	Three Months Ended March 31, 2020
Asset class impaired:
Land	$	964
Buildings and improvements	3,454
Intangible lease assets	1,269
Intangible lease liabilities	(1)
Total impairment loss	$	5,686

CIM INCOME NAV, INC. 10-Q