Interest rate hedge agreements Interest rate hedge agreements (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding interest rate hedge agreements designated as cash flow hedges of interest rate risk

We had the following outstanding interest rate hedge agreements that were designated as cash flow hedges of interest rate risk as of September 30, 2017 (dollars in thousands):

Interest Rate Hedge Type			Number of Contracts	Weighted-Average Interest Pay/ Cap Rate(1)	Fair Value  as of 9/30/17			Notional Amount in Effect as of
	Effective Date	Maturity Date						9/30/17		12/31/17		12/31/18		12/31/19
Swap	March 31, 2017	March 31, 2018	4	0.78%	$	692		$	250,000	$	250,000	$	—	$	—
Swap	March 31, 2017	March 31, 2018	11	1.51%	(554		)	650,000		650,000		—		—
Cap	July 29, 2016	April 20, 2019	2	2.00%	66			108,000		126,000		150,000		—
Swap	March 29, 2018	March 31, 2019	8	1.16%	2,975			—		—		600,000		—
Swap	March 29, 2019	March 31, 2020	1	1.89%	(29		)	—		—		—		100,000
Total					$	3,150		$	1,008,000	$	1,026,000	$	750,000	$	100,000

(1) In addition to the interest pay rate for each swap agreement, interest is payable at an applicable margin over LIBOR for borrowings outstanding as of September 30, 2017, as listed under the column heading “Stated Rate” in our summary table of outstanding indebtedness and respective principal payments under Note 8 – “Secured and Unsecured Senior Debt” to these unaudited consolidated financial statements.