Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk

As of June 30, 2015, we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

Interest Rate Derivative	Number of Instruments	Notional Amount (in thousands)
Interest rate swap	2	$170,573

Schedule of Derivative Financial Instruments at Fair Value

The table below presents the fair value of our derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of June 30, 2015 and December 31, 2014 (amounts in thousands):

		Fair Value as of
Interest Rate Derivative Designated as Hedging Instrument	Balance Sheet Location	June 30, 2015		December 31, 2014
Pay-fixed swaps	Accounts payable and accrued expenses	$	5,963	$	7,462

Schedule of Gain or Loss Recognized on Interest Rate Derivatives Designated as Cash Flow Hedges

The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and six months ended June 30, 2015 and 2014 (amounts in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Balance at beginning of period	$	(6,921	)	$	(10,706	)	$	(7,462	)	$	(11,706	)
Amount of loss recognized in cumulative other comprehensive loss	(274		)	(632		)	(960		)	(861		)
Amount of loss reclassified from cumulative other comprehensive loss into interest expense	1,232			1,259			2,459			2,488
Unrealized gain on derivative instruments	958			627			1,499			1,627
Balance at end of period	$	(5,963	)	$	(10,079	)	$	(5,963	)	$	(10,079	)