Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Effect of Hedging Activities in Statements of Operations

The following table summarizes the gains and (losses) from hedging activities recognized in the accompanying consolidated statements of operations for the three months ended March 31, 2018 and 2017 (in thousands):

	Three Months Ended March 31,
	2018		2017
Reclassification of previous unrealized loss on interest rate derivatives into net income	$	105	$	470
Total interest expense presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded	$	70,425	$	73,743
Amount of gain recognized in income on cash flow hedges	$	273	$	824

Not Designated as Hedging Instrument [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Interest Rate Derivatives

As of March 31, 2018 and December 31, 2017, the Company had the following outstanding interest rate derivatives that were not designated as qualifying hedging relationships (dollar amounts in thousands):  

Interest Rate Swap	March 31, 2018		December 31, 2017
Number of Instruments	2		2
Notional Amount	$	78,573	$	78,949

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents the fair value of the Company’s derivative financial instruments not designated as a hedge as well as their classification in the consolidated balance sheets as of March 31, 2018 and December 31, 2017 (in thousands):

Derivatives Not Designated as Hedging Instruments	Balance Sheet Location	March 31, 2018		December 31, 2017
Interest rate swaps	Rent and tenant receivables and other assets, net	$	848	$	627

Schedule of Offsetting Assets

The table below details a gross presentation, the effects of offsetting and a net presentation of the Company’s derivatives as of March 31, 2018 and December 31, 2017 (in thousands). The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value.

	Offsetting of Derivative Assets and Liabilities
	Gross Amounts of Recognized Assets		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets Presented in the Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received		Net Amount
March 31, 2018	$	848	$	—	$	—	$	848	$	—	$	—	$	—	$	848
December 31, 2017	$	627	$	—	$	—	$	627	$	—	$	—	$	—	$	627

Schedule of Offsetting Liabilities

The table below details a gross presentation, the effects of offsetting and a net presentation of the Company’s derivatives as of March 31, 2018 and December 31, 2017 (in thousands). The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value.

	Offsetting of Derivative Assets and Liabilities
	Gross Amounts of Recognized Assets		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets Presented in the Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received		Net Amount
March 31, 2018	$	848	$	—	$	—	$	848	$	—	$	—	$	—	$	848
December 31, 2017	$	627	$	—	$	—	$	627	$	—	$	—	$	—	$	627