Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of LIBOR interest rate caps

During the three years ended December 31, 2018, the Company had the following LIBOR interest rate caps ($ in thousands):

Origination Date	Expiration Date	Notional Amount		Strike Rate		Premium Paid
10/26/2015	10/15/2017	$	75,000	1.25	%	$	137
2/25/2016	3/1/2018	75,000		1.50	%	57
6/17/2016	6/17/2018	70,000		1.00	%	150
2/7/2017	3/1/2019	50,000		1.50	%	187
6/23/2017	7/1/2019	50,000		1.50	%	154
9/18/2017	10/1/2019	50,000		1.50	%	199
7/28/2017	12/1/2019	50,000		1.50	%	359
3/7/2018	4/1/2020	50,000		2.25	%	310
7/16/2018	8/1/2020	50,000		2.50	%	319
12/11/2018	1/1/2021	50,000		2.75	%	210

Schedule of derivatives

The Company’s derivatives comprised the following as of December 31, 2018 and 2017 (in thousands):

	December 31,
	2018							2017
			Fair Value							Fair Value
Derivatives not designated as accounting hedges	Notional Amount		Asset		Liability			Notional Amount		Asset		Liability
Interest rate swaps	$	100,000	$	303	$	(749	)	$	56,079	$	10	$	(69	)
Interest rate caps	350,000		1,790		—			345,000		1,515		—
Total derivatives not designated as accounting hedges	450,000		2,093		(749		)	401,079		1,525		(69		)
Interest rate swaps designated as accounting hedge	63,208		—		(1,725		)	—		—		—
Total derivatives	$	513,208	$	2,093	$	(2,474	)	$	401,079	$	1,525	$	(69	)

Schedule of changes in fair value of derivatives

The changes in the fair value of the Company’s derivatives during the years ended December 31, 2018, 2017, and 2016 was as follows (in thousands):

	Years Ended December 31,
	2018			2017		2016
Interest rate swaps	$	(2,281	)	$	770	$	(795	)
Interest rate caps	(564		)	357		(146		)
Total change in fair value of interest rate derivatives	$	(2,845	)	$	1,127	$	(941	)
Comprehensive income statement presentation:
Change in fair value of interest rate derivatives	$	(951	)	$	1,127	$	(941	)
Unrealized cash flow hedge losses	(1,894		)	—		—
Total	$	(2,845	)	$	1,127	$	(941	)