DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 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

	September 30,		December 31,
(In thousands)	2016		2015
Interest Rate Swaps & Caps	$	3,035	$	2,292
Forward-Starting Swaps		24,759		1,925
Total derivatives designated as hedging instruments	$	27,794	$	4,217

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

	Three Months Ended September 30,					Three Months Ended September 30,
	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	$	(203)	$	(877)	Interest Expense	$	(356)	$	(466)
Forward-Starting Swaps		344		—	Interest Expense		—		—
	$	141	$	(877)		$	(356)	$	(466)

	Nine Months Ended September 30,					Nine Months Ended September 30,
	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	$	(1,409)	$	(979)	Interest Expense	$	(1,099)	$	(1,276)
Forward-Starting Swaps		(14,566)		—	Interest Expense		—		—
	$	(15,975)	$	(979)		$	(1,099)	$	(1,276)