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Financial Instruments: Derivatives and Hedging (Tables)
 3 Months Ended
Mar. 31, 2022
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 March 31, 2022 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 %November 2021November 2022Other Assets$9 
Interest Rate Swap100,000 0.212 %January 2021January 2023Other Assets1,223 
Interest Rate Swap400,000 0.184 %January 2022February 2023Other Assets4,838 
Interest Rate Swap50,000 0.633 %February 2022February 2023Other Assets373 
Interest Rate Swap100,000 1.163 %November 2021July 2023Other Assets1,177 
Interest Rate Swap200,000 1.133 %November 2021July 2023Other Assets2,432 
Interest Rate Swap150,000 2.700 %December 2021January 2024Other Liabilities(1,153)
Interest Rate Swap150,000 2.721 %December 2021January 2026Other Liabilities(1,865)
Interest Rate Swap200,000 2.762 %December 2021January 2026Other Liabilities(2,777)
$4,257 
The following table summarizes the notional value at inception and fair value of our joint ventures' derivative financial instruments as of March 31, 2022 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$21 
Interest Rate Cap125,000 2.850 %September 2021September 2022Asset2 
Interest Rate Cap23,000 4.750 %January 2021January 2023Asset2 
Interest Rate Cap220,000 4.000 %February 2022February 2023Asset68 
Interest Rate Cap510,000 3.000 %December 2021June 2023Asset1,297 
Interest Rate Cap237,340 0.550 %February 2022May 2024Asset14,994 
Interest Rate Cap118,670 0.550 %February 2022May 2024Asset14,977 
Interest Rate Swap177,000 1.669 %March 2016February 2026Asset5,014 
$36,375 
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 March 31, 2022 and 2021, respectively (in thousands):
 Amount of Gain
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 March 31,Three Months Ended March 31,
Derivative2022202120222021
Interest Rate Swaps/Caps$28,378 $10,220 Interest expense$(3,866)$(4,388)
Share of unconsolidated joint ventures' derivative instruments10,308 34,955 Equity in net loss from unconsolidated joint ventures(1,015)(1,700)
$38,686 $45,175 $(4,881)$(6,088)