DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2016

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Summary of fair value of the Company's derivative financial instruments which are included in accounts payable and accrued liabilities in the Consolidated Balance Sheet

	March 31,		December 31,
(In thousands)	2016		2015
Interest Rate Swaps & Caps	$	3,099	$	2,292
Forward Starting Swaps		16,115		1,925
Total derivatives designated as hedging instruments	$	19,214	$	4,217

Summary of effect of the Company's derivative financial instruments on the Condensed Consolidated Statements of Operations

	Three Months Ended March 31,					Three Months Ended March 31,
	2016		2015		Location of Loss	2016		2015
(In thousands) Cash Flow Hedges	Amount of Loss Recognized in OCI		Amount of Loss Recognized in OCI		Reclassified from AOCI into Earnings	Amount of Loss Reclassified from AOCI into Earnings		Amount of Loss Reclassified from AOCI into Earnings
Interest Rate Swaps & Caps	$	(879)	$	(761)	Interest Expense	$	(351)	$	(380)
Forward Starting Swaps		(9,280)		—	Interest Expense		—		—
	$	(10,159)	$	(761)		$	(351)	$	(380)