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DERIVATIVE INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional and Fair Value of Interest Rate Swaps Designated as Cash Flow Hedges
The following table summarizes the notional amount and other information related to the Company’s interest rate swaps and cap as of September 30, 2019 and December 31, 2018. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands):
 September 30, 2019December 31, 2018 Weighted-Average
Fix Pay Rate		Weighted-Average Remaining
Term in Years
Derivative InstrumentsNumber of InstrumentsNotional AmountNumber of InstrumentsNotional AmountReference Rate as of
September 30, 2019
Derivative instruments not designated as hedging instruments
Interest rate swaps8  $983,829  14  $1,208,957  
One-month LIBOR/
Fixed at 1.67% - 2.37%
2.06%  2.4
Interest rate cap—  $—  1  $100,000  —  —%  —  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table sets forth the fair value of the Company’s derivative instruments as well as their classification on the consolidated balance sheets as of September 30, 2019 and December 31, 2018 (dollars in thousands):
September 30, 2019December 31, 2018
Derivative InstrumentsBalance Sheet LocationNumber of
Instruments		Fair ValueNumber of
Instruments		Fair Value
Derivative instruments not designated as hedging instruments
Interest rate swaps (1)
Prepaid expenses and other assets, at fair value
—  $—  14  $15,909  
Interest rate swaps (1)
Other liabilities, at fair value
8  $(15,892) —  $—  
Interest rate cap
Prepaid expenses and other assets, at fair value
—  $—  1  $—  
_____________________
(1) During the nine months ended September 30, 2019, the Company terminated five interest rate swaps and realized net gains of $33,000, which was recorded as an offset to interest expense. In addition, on July 17, 2019, the Company assigned one interest rate swap to the SREIT with a liability fair value of $9.9 million.
Schedule of Derivative Instruments in Statement of Operations The following table summarizes the effects of derivative instruments on the Company’s consolidated statements of operations (in thousands):
 For the Three Months Ended September 30,For the Nine Months Ended September 30,
 2019201820192018
Income statement related
Derivatives designated as hedging instruments
Amount of (income) expense recognized on interest rate swaps (effective portion)$—  $(90) $—  $(198) 
—  (90) —  (198) 
Derivatives not designated as hedging instruments
Realized (gain) loss recognized on interest rate swaps(491) (186) (3,118) 1,123  
Unrealized loss (gain) on interest rate swaps3,807  (4,784) 41,706  (30,110) 
Fair value loss on interest rate cap—  8  —  8  
3,316  (4,962) 38,588  (28,979) 
Increase (decrease) in interest expense as a result of derivatives$3,316  $(5,052) $38,588  $(29,177) 
Other comprehensive income related
Unrealized income on derivative instruments$—  $5  $—  $88