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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2014
Gain or Loss Recognized in Financial Statements on Interest Rate Derivatives Designed as Cash Flow Hedges

The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designed as cash flow hedges for the six months ended June 30, 2014 and 2013, respectively (in thousands):

 

     2014     2013  

Amount of gain (loss) recognized in accumulated other comprehensive income on interest rate derivatives (effective portion)

    $ (643 )    $ 132   
  

 

 

    

 

 

  

Amount of gain (loss) reclassified from accumulated other comprehensive income into income as interest expense (effective portion)

    $ 5      $ 1   
  

 

 

    

 

 

  

Amount of gain (loss) recognized in income on derivative (in effective portion and amount excluded from effectiveness testing)

    $ —        $ —     
  

 

 

    

 

 

  
Designated as Hedging Instrument [Member]
  
Interest Rate Derivatives Designated and Non Designated

The table below presents information about the Trust’s interest rate caps and interest rate swaps that are included on the consolidated balance sheet that were designated as cash flow hedges of interest rate risk at June 30, 2014 (in thousands):

 

Maturity

    Strike Rate     Notional
Amount of
Hedge		      Cost of
Hedge		      Estimated Fair
Value of Hedge		     Change in Hedge
Valuations Included
in Other
Comprehensive
Income for the Six
Months Ended
June 30, 2014		  

Aug 2014

      0.50 %    $ 12,980       $ 22       $ —        $ 6   

May 2016

      0.50 %      41,950         —           (83 )      (51 ) 

Oct 2016

      0.69 %      150,000         —           (419 )      (333 ) 

Nov 2017

      4.00 %      50,000         165         92        (117 ) 

Nov 2018

      5.00 %      50,000         220         83        (142 ) 
Not Designated as Hedging Instrument [Member]
  
Interest Rate Derivatives Designated and Non Designated

The table below presents information about the Trust’s interest rate caps and swaps that were not designated as cash flow hedges (in thousands):

 

Maturity

    Strike Rate     Notional
Amount of
Hedge		      Cost of
Hedge		      Estimated Fair
Value		      Change in Hedge
Valuations Included in
Interest Expense for
the Six Months Ended
June 30,  2014		  

Oct 2014

      1.00 %      5,753         174         —           —     

Aug 2015

      3.00 %      25,500         10         10         —