Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of December 31, 2022, the Company 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
Interest Rate Swaps	4	$300,000

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets.

	As of December 31, 2022			As of December 31, 2021
Derivatives designated as hedging instruments:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Interest Rate Swap Liability	Other Assets	$	16,318	Other Liabilities	$	(6,258)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The table below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for 2022 and 2021:

Derivatives in Cash Flow	Amount of Gain Recognized in OCI on Derivative December 31,				Amount of (Income) Loss Reclassified from Accumulated OCI into Income (1) December 31,
Hedging Relationships	2022		2021		2022		2021
Interest Rate Swap	$	22,578	$	6,755	$	(2)	$	4,950
The Company's share of non-consolidated entity's interest rate cap	1,455		—		(84)		—
Total	$	24,033	$	6,755	$	(86)	$	4,950

(1) Amounts reclassified from accumulated other comprehensive income (loss) to interest expense within the consolidated statements of operations.