Fair Value (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of summary of consolidated hedging derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale

The following table summarizes the consolidated derivative positions at December 31, 2020 (dollars in thousands):

	Non-designated Hedges
	Interest Rate Caps			Interest Rate Swaps
Notional balance	$	679,167		$	150,000
Weighted average interest rate (1)	1.7		%	N/A
Weighted average swapped/capped interest rate	6.4		%	0.7		%
Earliest maturity date	January 2021			May 2021
Latest maturity date	January 2024			May 2021

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(1)     For debt hedged by interest rate caps, represents the weighted average interest rate on the hedged debt prior to any impact of the associated interest rate caps.

Summary of deferred losses reclassified from AOCI

The following table summarizes the deferred losses reclassified from accumulated other comprehensive income as a component of interest expense, net (dollars in thousands):

	For the year ended
	12/31/20		12/31/19		12/31/18
Cash flow hedge losses reclassified to earnings	$	8,984	$	6,571	$	6,143

Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis

The following tables summarize the classification between the three levels of the fair value hierarchy of the Company's financial instruments measured/disclosed at fair value on a recurring basis (dollars in thousands):

Description	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	12/31/2020
Non Designated Hedges
Interest Rate Caps	$	6	$	—	$	6	$	—
Interest Rate Swaps - Assets	4,308		—		4,308		—
DownREIT units	(1,203)		(1,203)		—		—
Indebtedness
Fixed rate unsecured notes	(7,271,799)		(7,271,799)		—		—
Secured notes and variable rate unsecured indebtedness	(1,043,976)		—		(1,043,976)		—
Total	$	(8,312,664)	$	(7,273,002)	$	(1,039,662)	$	—
	12/31/2019
Cash Flow Hedges
Interest Rate Swaps - Assets	$	388	$	—	$	388	$	—
Interest Rate Swaps - Liabilities	(6,379)		—		(6,379)		—
DownREIT units	(1,573)		(1,573)		—		—
Indebtedness
Fixed rate unsecured notes	(6,197,771)		(6,197,771)		—		—
Secured notes and variable rate unsecured indebtedness	(1,398,147)		—		(1,398,147)		—
Total	$	(7,603,482)	$	(6,199,344)	$	(1,404,138)	$	—