Financial Instruments: Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional and fair value of derivative financial instruments and foreign currency hedges

The following table summarizes the notional and fair value of our consolidated derivative financial instruments at December 31, 2014 based on Level 2 information. The notional value is an indication of the extent of our involvement in these instruments at that time, but does not represent exposure to credit, interest rate or market risks (amounts in thousands).

	Notional Value		Strike Rate		Effective Date	Expiration Date	Balance Sheet Location	Fair Value
Interest Rate Cap - Sold	$	504,000	4.750	%	May 2014	May 2016	Other Assets	$	4
Interest Rate Cap	504,000		4.750	%	May 2014	May 2016	Other Liabilities	(4		)
Interest Rate Cap	500,000		4.750	%	October 2014	May 2016	Other Assets	4
Interest Rate Cap - Sold	500,000		4.750	%	November 2014	May 2016	Other Liabilities	(4		)
Interest Rate Cap	446,000		4.750	%	October 2014	May 2016	Other Assets	3
Interest Rate Cap	263,426		6.000	%	November 2013	November 2015	Other Assets	—
Interest Rate Cap	137,500		4.000	%	October 2013	September 2015	Other Assets	—
Interest Rate Swap	200,000		0.938	%	October 2014	December 2017	Other Assets	871
Interest Rate Swap	150,000		0.940	%	October 2014	December 2017	Other Assets	647
Interest Rate Swap	150,000		0.940	%	October 2014	December 2017	Other Assets	645
Interest Rate Swap	144,000		2.236	%	December 2012	December 2017	Other Liabilities	(4,757		)
Interest Rate Swap	86,400		1.948	%	December 2012	December 2017	Other Liabilities	(2,124		)
Interest Rate Swap	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,533		)
Interest Rate Swap	72,000		1.345	%	December 2012	December 2017	Other Liabilities	(506		)
Interest Rate Swap	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,534		)
Interest Rate Swap	57,600		1.990	%	December 2012	December 2017	Other Liabilities	(1,487		)
Interest Rate Swap	30,000		2.295	%	July 2010	June 2016	Other Liabilities	(774		)
Interest Rate Swap	8,500		0.740	%	February 2012	February 2015	Other Liabilities	(5		)
								$	(12,554	)

Schedule of effect of derivative financial instruments on consolidated statements of income

The following table presents the effect of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of income for the years ended December 31, 2014, 2013 and 2012, respectively (in thousands):

	Amount of (Loss) or Gain Recognized in Other Comprehensive Loss (Effective Portion)									Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	Amount of Loss  Reclassified from Accumulated Other Comprehensive Loss  into Income (Effective Portion)						Location of Gain Recognized in Income on Derivative	Amount of Gain  Recognized into Income (Ineffective Portion)
	Year Ended December 31,										Year Ended December 31,							Year Ended December 31,
Derivative	2014			2013			2012				2014		2013		2012			2014		2013		2012
Interest Rate Swaps/Caps	$	(703	)	$	(68	)	$	(912	)	Interest expense	$	6,431	$	1,933	$	1,865	Interest expense	$	4	$	3	$	3
Share of unconsolidated joint ventures' derivative instruments	2,916			6,553			(9,637		)	Equity in net income from unconsolidated joint ventures	1,999		5,072		10,811		Equity in net income from unconsolidated joint ventures	—		—		—
	$	2,213		$	6,485		$	(10,549	)		$	8,430	$	7,005	$	12,676		$	4	$	3	$	3