DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2017

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Summary of fair value of the Company's derivative financial instruments

					Fixed				Fair Value Asset (Liability)
			Notional		Interest		Effective	Maturity	December 31,		December 31,
(In thousands)		Balance Sheet Location	Amount		Rate		Date	Date	2017		2016
Currently-paying contracts:
Interest Rate Swap	(a)	Accounts payable and accrued expenses	$	18,926	2.96	%	5/10/2011	10/31/2019	$	(286)	$	(740)
Interest Rate Swap	(a)	Prepaid expenses and other assets, net		40,000	1.66		5/6/2015	5/1/2020		299		(143)
Interest Rate Swap	(a)	Prepaid expenses and other assets, net		119,359	1.14		10/3/2016	9/12/2021		4,007		3,368
Interest Rate Cap	(b)	Prepaid expenses and other assets, net		75,000	5.00		9/1/2017	8/31/2019		—		—
Interest Rate Cap	(c)	Prepaid expenses and other assets, net		230,000	2.50		12/22/2016	12/23/2019		164		768
Interest Rate Swap	(a) (d)	Accounts payable and accrued expenses		50,000	2.65		12/31/2017	12/31/2027		(1,124)		(610)
Interest Rate Swap	(a) (d)	Accounts payable and accrued expenses		100,000	2.68		12/31/2017	12/31/2027		(2,509)		(1,479)
Interest Rate Swap	(a) (d)	Accounts payable and accrued expenses		100,000	2.62		12/31/2017	12/31/2027		(2,042)		(1,015)
Total fair value derivative assets									$	4,470	$	4,136
Total fair value derivative liabilities									$	(5,961)	$	(3,987)

(a) Denotes derivatives designated as hedging instruments.

(b) As of December 31, 2016, our $100.0 million interest rate cap with a 5.00% interest rate and an August 31, 2017 maturity date was in place and matured as scheduled. A new interest rate cap was entered into as detailed above and is not currently designated as a hedging instrument. Interest (income) expense included in the consolidated statements of operations for the year ended December 31, 2017 related to this contract is not material.

(c) Denotes derivative contract that is not designated as a hedging instrument as of December 31, 2017. Interest (income) expense of $(0.6) million is included in the consolidated statements of operations for the year ended December 31, 2017, related to this contract.

(d) Forward starting swaps were entered into in December 2015 and became effective as of December 31, 2017.

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

	Amount of Loss Recognized
	in AOCI on Derivative
	(Effective Portion)
	Year Ended December 31,
Derivatives in Cash Flow Hedging Relationships	2017		2016		2015
Interest rate swaps	$	(726)	$	831	$	(1,705)

	Amount of Loss Reclassified from
	AOCI into Operations
	(Effective Portion)
	Year Ended December 31,
Location of Loss Reclassified from AOCI into Operations	2017		2016		2015
Interest expense	$	(905)	$	(1,364)	$	(1,745)