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Financial Instruments: Derivatives and Hedging (Tables)
 9 Months Ended
Sep. 30, 2021
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 as of September 30, 2021 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 (dollars in thousands).
Notional
Value		Strike
Rate		Effective
Date		Expiration
Date		Balance Sheet LocationFair
Value
Interest Rate Cap$111,869 3.500 %December 2020November 2021Other Assets$— 
Interest Rate Swap200,000 0.138 %February 2021February 2022Other Liabilities(27)
Interest Rate Swap100,000 0.136 %February 2021February 2022Other Liabilities(13)
Interest Rate Cap85,000 4.000 %March 2021March 2022Other Assets— 
Interest Rate Swap100,000 0.212 %January 2021January 2023Other Assets11 
Interest Rate Swap400,000 0.160 %February 2021February 2023Other Assets86 
Interest Rate Swap200,000 1.131 %July 2016July 2023Other Liabilities(3,108)
Interest Rate Swap100,000 1.161 %July 2016July 2023Other Liabilities(1,609)
Interest Rate Swap150,000 2.696 %January 2019January 2024Other Liabilities(7,840)
Interest Rate Swap150,000 2.721 %January 2019January 2026Other Liabilities(11,990)
Interest Rate Swap200,000 2.740 %January 2019January 2026Other Liabilities(16,150)
$(40,640)
The following table summarizes the notional value at inception and fair value of our joint ventures' derivative financial instruments as of September 30, 2021 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 (dollars in thousands).
Notional
Value		Strike
Rate		Effective
Date		Expiration
Date		ClassificationFair
Value
Interest Rate Cap$1,075,000 2.850 %September 2021September 2022Asset$2 
Interest Rate Cap125,000 2.850 %September 2021September 2022Asset— 
Interest Rate Cap1,250,000 1.250 %November 2020October 2024Asset5,005 
Interest Rate Swap177,000 1.669 %March 2016February 2026Liability(6,190)
$(1,183)
Schedule of effect of derivative financial instruments on consolidated statements of income
The following table presents the effect of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of operations for the three months ended September 30, 2021 and 2020, respectively (in thousands):
 Amount of Loss
Recognized in
Other Comprehensive
Loss		Location of Loss Reclassified from Accumulated Other Comprehensive Loss into IncomeAmount of Loss Reclassified from
Accumulated Other
Comprehensive Loss into Income
Three Months Ended September 30,Three Months Ended September 30,
Derivative2021202020212020
Interest Rate Swaps/Caps$(450)$(318)Interest expense$(4,416)$(5,162)
Share of unconsolidated joint ventures' derivative instruments(143)(199)Equity in net loss from unconsolidated joint ventures(2,792)(1,454)
$(593)$(517)$(7,208)$(6,616)
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 nine months ended September 30, 2021 and 2020, respectively (in thousands):
 Amount of Gain (Loss)
Recognized in
Other Comprehensive
Loss		Location of Loss Reclassified from Accumulated Other Comprehensive Loss into IncomeAmount of Loss Reclassified from
Accumulated Other
Comprehensive Loss into Income
Nine Months Ended September 30,Nine Months Ended September 30,
Derivative2021202020212020
Interest Rate Swaps/Caps$7,305 $(52,808)Interest expense$(13,359)$(9,610)
Share of unconsolidated joint ventures' derivative instruments(20,641)(8,375)Equity in net loss from unconsolidated joint ventures(6,542)(3,347)
$(13,336)$(61,183)$(19,901)$(12,957)