DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 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

	June 30,		December 31,
(In thousands)	2016		2015
Interest Rate Swaps & Caps	$	3,037	$	2,292
Forward-Starting Swaps		24,692		1,925
Total derivatives designated as hedging instruments	$	27,729	$	4,217

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

	Three Months Ended June 30,					Three Months Ended June 30,
	2016		2015		Location of Loss	2016		2015
					Reclassified	Amount of (Loss)		Amount of (Loss)
(In thousands)	Amount of (Loss)		Amount of (Loss)		from AOCI into	Reclassified from		Reclassified from
Cash Flow Hedges	Recognized in OCI		Recognized in OCI		Earnings	AOCI into Earnings		AOCI into Earnings
Interest Rate Swaps & Caps	$	(328)	$	(240)	Interest Expense	$	(367)	$	(436)
Forward-Starting Swaps		(5,629)		—	Interest Expense		—		—
	$	(5,957)	$	(240)		$	(367)	$	(436)

	Six Months Ended June 30,					Six Months Ended June 30,
	2016		2015		Location of Loss	2016		2015
					Reclassified	Amount of (Loss)		Amount of (Loss)
(In thousands)	Amount of (Loss)		Amount of (Loss)		from AOCI into	Reclassified from		Reclassified from
Cash Flow Hedges	Recognized in OCI		Recognized in OCI		Earnings	AOCI into Earnings		AOCI into Earnings
Interest Rate Swaps & Caps	$	(1,206)	$	(103)	Interest Expense	$	(743)	$	(811)
Forward-Starting Swaps		(14,910)		—	Interest Expense		—		—
	$	(16,116)	$	(103)		$	(743)	$	(811)