Financial Instruments: Derivatives and Hedging (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional and fair value of derivative financial instruments and foreign currency hedges

The following table summarizes the notional value at inception and fair value of our consolidated derivative financial instruments at March 31, 2018 based on Level 2 information. The notional value is an indication of the extent of our involvement in these instruments at that time, but does not represent exposure to credit, interest rate or market risks (amounts in thousands).

	Notional Value		Strike Rate		Effective Date	Expiration Date	Balance Sheet Location	Fair Value
Interest Rate Swap	$	200,000	1.131	%	July 2016	July 2023	Other Assets	$	14,149
Interest Rate Swap	100,000		1.161	%	July 2016	July 2023	Other Assets	6,927
Interest Rate Cap	137,500		4.000	%	September 2017	September 2019	Other Assets	19
Interest Rate Swap	100,000		1.928	%	December 2017	November 2020	Other Assets	1,273
Interest Rate Swap	100,000		1.934	%	December 2017	November 2020	Other Assets	1,260
								$	23,628

Schedule of effect of derivative financial instruments on consolidated statements of income

The following table presents the effect of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of operations for the three months endedMarch 31, 2018 and 2017, respectively (in thousands):

	Amount of Gain (Loss) Recognized in Other Comprehensive Loss (Effective Portion)					Location of (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	Amount of Loss  Reclassified from Accumulated Other Comprehensive Loss  into Income (Effective Portion)				Location of (Loss) Recognized in Income on Derivative	Amount of (Loss) Recognized into Income (Ineffective Portion)
	Three Months Ended March 31,						Three Months Ended March 31,					Three Months Ended March 31,
Derivative	2018		2017				2018		2017			2018			2017
Interest Rate Swaps/Caps	$	7,282	$	(3,137	)	Interest expense	$	329	$	979	Interest expense	$	(9	)	$	(8	)
Share of unconsolidated joint ventures' derivative instruments	3,313		341			Equity in net income from unconsolidated joint ventures	1		399		Equity in net income from unconsolidated joint ventures	(89		)	(95		)
	$	10,595	$	(2,796	)		$	330	$	1,378		$	(98	)	$	(103	)