Risk Management and Use of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments in statement of financial position, fair value

The following table summarizes the terms and fair values of the Company’s derivative financial instruments as of December 31, 2015 and December 31, 2014. The notional amounts provide an indication of the extent of the Company’s involvement in these instruments at that time, but do not represent exposure to credit, interest rate or market risks (amounts presented in thousands and included in other liabilities on the Company’s consolidated balance sheets).

Hedge Product	Hedge Type	Designation		Notional Amount				Strike			Trade Date	Maturity Date	Fair value
				12/31/2015		12/31/2014							12/31/2015			12/31/2014
Assets
Swap	Interest Rate	Cash Flow	(a), (b)	$	250,000	$	-		3.718	%	October 8, 2015	October 8, 2022	$	1,884		$	-
Liabilities
Swap	Interest Rate	Cash Flow	(a), (b)	$	-	$	200,000		3.623	%	December 6-13, 2011	February 1, 2019	$	-		$	(2,649	)
Swap	Interest Rate	Cash Flow	(a)		25,774		25,774		3.300	%	December 22, 2011	January 30, 2021		(531	)		(334	)
Swap	Interest Rate	Cash Flow	(a)		25,774		25,774		3.090	%	January 6, 2012	October 30, 2019		(388	)		(254	)
Swap	Interest Rate	Cash Flow	(a)		27,062		27,062		2.750	%	December 21, 2011	September 30, 2017		(201	)		(253	)
				$	328,610	$	278,610

(a) Hedging unsecured variable rate debt.

(b) On October 8, 2015, the Company amended its $200.0 million seven-year term loan maturing February 1, 2019, increasing the term loan by an additional $50.0 million and lengthening the maturity date to October 8, 2022 (See Note 7, “Debt Obligations”).  In connection with the amendment, the Company settled associated interest rate swap contracts and incurred a settlement fee of $5.3 million. The associated debt was not repaid, accordingly the settlement fee was recorded within other comprehensive income and will be amortized as interest expense through October 8, 2022.  The Company entered into new hedging contracts consisting of $250.0 million interest rate swaps maturing through October 8, 2022 (shown above).