Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of December 31, 2023, 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, 2023			As of December 31, 2022
Derivatives designated as hedging instruments:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Interest Rate Swaps	Other Assets	$	9,471	Other Assets	$	16,318

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 2023 and 2022:

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	2023		2022		2023		2022
Interest Rate Swap	$	3,496	$	22,578	$	(10,343)	$	(2)
The Company's share of non-consolidated entity's interest rate cap	158		1,455		(1,517)		(84)
Total	$	3,654	$	24,033	$	(11,860)	$	(86)

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