XML 17 R48.htm IDEA: XBRL DOCUMENT v2.4.0.6
Interest Rate Contracts (Details) (USD $)
0 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Interest Rate Contract [Member]
Fair Value [Member]
Dec. 31, 2011
Interest Rate Contract [Member]
Fair Value [Member]
Feb. 11, 2011
Sunset Gower Sunset Bronson [Member]
Dec. 31, 2012
Sunset Gower Sunset Bronson [Member]
Jan. 11, 2012
Sunset Gower Sunset Bronson [Member]
Mar. 16, 2011
Sunset Gower Sunset Bronson [Member]
Dec. 31, 2012
Sunset Gower Sunset Bronson [Member]
One-Month LIBOR [Member]
Jan. 11, 2012
Sunset Gower Sunset Bronson [Member]
One-Month LIBOR [Member]
Feb. 11, 2011
Sunset Gower Sunset Bronson [Member]
One-Month LIBOR [Member]
Jan. 11, 2012
Sunset Gower Sunset Bronson [Member]
Interest Rate Cap [Member]
Mar. 16, 2011
Sunset Gower Sunset Bronson [Member]
Interest Rate Cap [Member]
Derivative [Line Items]                          
Term of loan         5 years                
Long-term debt $ 580,884,000 $ 397,906,000     $ 92,000,000 [1] $ 92,000,000 [1]              
Debt instrument, basis spread on variable rate                 3.50% [1],[2]   3.50%    
Interest rate cap             2.00% 3.715%   2.00%      
Notional amount of interest rate cash flow hedge derivatives             42,000,000 50,000,000       42,000,000 50,000,000
Interest rate contracts $ 71,000 $ 164,000 $ 71,000 $ 164,000                  
[1] On March 16, 2011, we purchased an interest rate cap in order to cap one-month LIBOR at 3.715% with respect to $50.0 million of the loan through its maturity on February 11, 2016. On January 11, 2012 we purchased an interest rate cap in order to cap one-month LIBOR at 2.00% with respect to $42.0 million of the loan through its maturity on February 11, 2016. Beginning with the payment due February 1, 2014, monthly debt service will include principal payments based on a 30-year amortization schedule, for total annual debt amortization of $1,410.
[2] Interest rate with respect to indebtedness is calculated on the basis of a 360-day year for the actual days elapsed, excluding the amortization of loan fees and costs.