Financial Instruments: Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2017

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 value at inception and fair value of our consolidated derivative financial instruments at December 31, 2017 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 Swap	$	200,000	1.131	%	July 2016	July 2023	Other Assets	$	10,747
Interest Rate Swap	100,000		1.161	%	July 2016	July 2023	Other Assets	5,217
Interest Rate Swap	21,394		12.000	%	January 2017	January 2019	Other Assets	167
Interest Rate Cap	137,500		4.000	%	September 2017	September 2019	Other Assets	2
Interest Rate Swap	100,000		1.928	%	December 2017	November 2020	Other Assets	288
Interest Rate Swap	100,000		1.934	%	December 2017	November 2020	Other Assets	271
								$	16,692

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 operations for the years ended December 31, 2017, 2016, and 2015, respectively (in thousands):

	Amount of (Loss) Gain Recognized in Other Comprehensive Loss (Effective Portion)								Location of (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)						Location of (Loss) Gain Recognized in Income on Derivative	Amount of (Loss) Gain  Recognized into Income (Ineffective Portion)
	Year Ended December 31,									Year Ended December 31,							Year Ended December 31,
Derivative	2017			2016		2015				2017		2016		2015			2017		2016			2015
Interest Rate Swaps/Caps	$	(2,282	)	$	14,616	$	(11,607	)	Interest expense	$	1,821	$	9,521	$	10,892	Interest expense	$	5	$	(28	)	$	(422	)
Share of unconsolidated joint ventures' derivative instruments	(200		)	2,012		(1,779		)	Equity in net income from unconsolidated joint ventures	1,035		1,981		1,265		Equity in net income from unconsolidated joint ventures	55		785			(19		)
	$	(2,482	)	$	16,628	$	(13,386	)		$	2,856	$	11,502	$	12,157		$	60	$	757		$	(441	)