XML 72 R60.htm IDEA: XBRL DOCUMENT v3.19.3
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Summary of the Notional Amount and Fair Value of Derivatives) (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Aug. 01, 2019
Jun. 27, 2019
May 01, 2019
Dec. 31, 2018
Sep. 21, 2018
Fair value of derivative instruments              
Total fair value derivative assets $ 0 $ 0       $ 346,000  
Total fair value derivative liabilities (48,788,000) (48,788,000)       (16,517,000)  
Interest income 0 200,000          
Construction Loans              
Fair value of derivative instruments              
Loan amount     $ 64,600,000        
Construction Loans | 8770 New Trails              
Fair value of derivative instruments              
Loan amount       $ 35,500,000      
Interest rate cap | Derivative instruments not designated as hedging instruments | Prepaid expenses and other assets, net | Fixed Interest Rate 2.50%, Maturing December 2019              
Fair value of derivative instruments              
Notional amount $ 230,000,000 $ 230,000,000          
Fixed interest rate 2.50% 2.50%          
Total fair value derivative assets $ 0 $ 0       333,000  
Interest rate cap | Derivative instruments designated as hedging instruments              
Fair value of derivative instruments              
Notional amount 230,000,000.0 230,000,000.0          
Interest rate cap | Derivative instruments designated as hedging instruments | Prepaid expenses and other assets, net | Fixed Interest Rate 5.0% Maturing August 2019              
Fair value of derivative instruments              
Notional amount $ 75,000,000 $ 75,000,000          
Fixed interest rate 5.00% 5.00%          
Total fair value derivative assets $ 0 $ 0       0  
Interest rate collar | Derivative instruments designated as hedging instruments | Prepaid expenses and other assets, net | Fixed Interest Rate 1.50% To 2.50%, Maturing May 2019              
Fair value of derivative instruments              
Notional amount 51,592,000 51,592,000     $ 51,600,000    
Total fair value derivative assets 0 0       13,000  
Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.00% To 3.00%, Maturing May 2020              
Fair value of derivative instruments              
Notional amount, liability 193,967,000 193,967,000          
Total fair value derivative liabilities (254,000) (254,000)       (37,000)  
Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.25% To 3.25%, Maturing May 2021              
Fair value of derivative instruments              
Notional amount, liability 354,217,000 354,217,000          
Total fair value derivative liabilities (2,521,000) (2,521,000)       (730,000)  
Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.75% To 3.50%, Maturing April 2022              
Fair value of derivative instruments              
Notional amount, liability 381,404,000 381,404,000          
Total fair value derivative liabilities (5,367,000) (5,367,000)       (1,969,000)  
Interest rate swap contracts | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.96%, Maturing September 2023              
Fair value of derivative instruments              
Notional amount, liability $ 615,000,000 $ 615,000,000          
Fixed interest rate 2.96% 2.96%          
Total fair value derivative liabilities $ (37,378,000) $ (37,378,000)       (13,781,000)  
Interest rate swap contracts | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 4.89% Maturing January 2032              
Fair value of derivative instruments              
Notional amount, liability $ 1,810,000 $ 1,810,000          
Fixed interest rate 4.89% 4.89%          
Total fair value derivative liabilities $ (3,268,000) $ (3,268,000)       $ 0  
Minimum | Interest rate collar | Derivative instruments designated as hedging instruments | Prepaid expenses and other assets, net | Fixed Interest Rate 1.50% To 2.50%, Maturing May 2019              
Fair value of derivative instruments              
Fixed interest rate 1.50% 1.50%          
Minimum | Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.00% To 3.00%, Maturing May 2020              
Fair value of derivative instruments              
Fixed interest rate 2.00% 2.00%          
Minimum | Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.25% To 3.25%, Maturing May 2021              
Fair value of derivative instruments              
Fixed interest rate 2.25% 2.25%          
Minimum | Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.75% To 3.50%, Maturing April 2022              
Fair value of derivative instruments              
Fixed interest rate 2.75% 2.75%          
Maximum | Interest rate collar | Derivative instruments designated as hedging instruments | Prepaid expenses and other assets, net | Fixed Interest Rate 1.50% To 2.50%, Maturing May 2019              
Fair value of derivative instruments              
Fixed interest rate 2.50% 2.50%          
Maximum | Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.00% To 3.00%, Maturing May 2020              
Fair value of derivative instruments              
Fixed interest rate 3.00% 3.00%          
Maximum | Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.25% To 3.25%, Maturing May 2021              
Fair value of derivative instruments              
Fixed interest rate 3.25% 3.25%          
Maximum | Interest rate collar | Derivative instruments designated as hedging instruments | Accounts payable and accrued expenses | Fixed Interest Rate 2.75% To 3.50%, Maturing April 2022              
Fair value of derivative instruments              
Fixed interest rate 3.50% 3.50%          
$700 Million Loan Maturity September 2023 | Term Loan              
Fair value of derivative instruments              
Loan amount             $ 615,000,000.0