Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

As of September 30, 2016, 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	$	168,103
Interest rate cap	1	$	400,000

Schedule of Fair Value of Derivative Financial Instruments

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 September 30, 2016 and December 31, 2015 (amounts in thousands):

		Fair Value as of
Interest Rate Derivative Designated as Hedging Instrument	Balance Sheet Location	September 30, 2016			December 31, 2015
Pay-fixed swaps	Accounts payable and accrued expenses	$	(707	)	$	(3,687	)
Interest rate cap	Other assets	$	112		$	—

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 nine months ended September 30, 2016 and 2015 (amounts in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2016		2015			2016			2015
Amount of gain (loss) recognized in cumulative other comprehensive loss	$	23	$	(418	)	$	(748	)	$	(1,378	)
Amount of loss reclassified from cumulative other comprehensive loss into interest expense	1,094		1,239			3,318			3,698