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Financial Instruments: Derivatives and Hedging (Tables)
 3 Months Ended
Mar. 31, 2024
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 as of March 31, 2024 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 (dollars in thousands).
Notional
Value		Strike
Rate		Effective
Date		Expiration
Date		Balance Sheet LocationFair
Value
Interest Rate Cap370,000 3.250 %June 2023June 2024Other Assets$1,565 
Interest Rate Cap370,000 3.250 %June 2023June 2024Other Liabilities(1,562)
Interest Rate Cap220,000 4.000 %February 2024February 2025Other Assets1,789 
Interest Rate Swap150,000 2.621 %December 2021January 2026Other Assets4,915 
Interest Rate Swap200,000 2.662 %December 2021January 2026Other Assets6,417 
Interest Rate Swap100,000 2.903 %February 2023February 2027Other Assets3,528 
Interest Rate Swap100,000 2.733 %February 2023February 2027Other Assets3,983 
Interest Rate Swap50,000 2.463 %February 2023February 2027Other Assets2,354 
Interest Rate Swap200,000 2.591 %February 2023February 2027Other Assets8,730 
Interest Rate Swap300,000 2.866 %July 2023May 2027Other Assets11,314 
Interest Rate Swap150,000 3.524 %January 2024May 2027Other Assets2,794 
Interest Rate Swap370,000 3.888 %November 2022June 2027Other Assets2,879 
Interest Rate Swap (1)
300,000 4.487 %November 2024November 2027Other Liabilities(5,113)
Interest Rate Swap100,000 3.756 %January 2023January 2028Other Assets1,120 
Interest Rate Swap204,963 3.915 %February 2025May 2028Other Liabilities(1,079)
$43,634 
(1) Quarterly changes in fair value recognized in the calculation of FFO.
The following table summarizes the notional value at inception and fair value of our joint ventures' derivative financial instruments as of March 31, 2024 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 (dollars in thousands).
Notional
Value		Strike
Rate		Effective
Date		Expiration
Date		ClassificationFair
Value
Interest Rate Cap$501,650 0.490 %February 2022May 2024Asset$2,560 
Interest Rate Cap501,650 0.490 %February 2022May 2024Asset2,560 
Interest Rate Cap505,412 3.000 %June 2023June 2024Asset2,490 
Interest Rate Cap273,616 4.000 %August 2023August 2024Asset1,212 
Interest Rate Cap514,897 3.500 %September 2023September 2024Asset4,118 
Interest Rate Cap278,161 4.000 %May 2024November 2024Asset1,624 
Interest Rate Cap278,161 4.000 %May 2024November 2024Asset1,624 
Interest Rate Swap250,000 3.608 %April 2023February 2026Asset4,070 
Interest Rate Swap250,000 3.608 %April 2023February 2026Asset4,069 
Interest Rate Swap177,000 1.555 %December 2022February 2026Asset9,459 
$33,786 
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 ended March 31, 2024 and 2023, respectively (in thousands):
 Amount of Gain Recognized in
Other Comprehensive (Loss) Income		Location of Gain Reclassified from Accumulated Other Comprehensive Income into IncomeAmount of Gain Reclassified from
Accumulated Other
Comprehensive Income into Income
Three Months Ended March 31,Three Months Ended March 31,
Derivative2024202320242023
Interest Rate Swaps/Caps$31,156 $(17,913)Interest expense$9,763 $9,023 
Share of unconsolidated joint ventures' derivative instruments5,705 (1,495)Equity in net loss from unconsolidated joint ventures3,884 2,628 
$36,861 $(19,408)$13,647 $11,651