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Financial Instruments: Derivatives and Hedging (Tables)
 12 Months Ended
Dec. 31, 2023
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 December 31, 2023 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 Swap150,000 2.600 %December 2021January 2024 Other Assets $11 
Interest Rate Swap200,000 4.490 %November 2022January 2024 Other Assets 5 
Interest Rate Swap200,000 4.411 %November 2022January 2024 Other Assets 5 
Interest Rate Cap370,000 3.250 %June 2023June 2024 Other Assets 3,158 
Interest Rate Cap370,000 3.250 %June 2023June 2024Other Liabilities(3,145)
Interest Rate Swap150,000 2.621 %December 2021January 2026 Other Assets 4,011 
Interest Rate Swap200,000 2.662 %December 2021January 2026 Other Assets 5,196 
Interest Rate Swap100,000 2.903 %February 2023February 2027 Other Assets 2,281 
Interest Rate Swap100,000 2.733 %February 2023February 2027 Other Assets 2,775 
Interest Rate Swap50,000 2.463 %February 2023February 2027 Other Assets 1,781 
Interest Rate Swap200,000 2.591 %February 2023February 2027Other Assets6,378 
Interest Rate Swap300,000 2.866 %July 2023May 2027Other Assets7,306 
Interest Rate Swap150,000 3.524 %January 2024May 2027 Other Assets 549 
Interest Rate Swap370,000 3.888 %November 2022June 2027 Other Liabilities (3,044)
Interest Rate Swap300,000 4.487 %November 2024November 2027 Other Liabilities (10,273)
Interest Rate Swap100,000 3.756 %January 2023January 2028 Other Liabilities (646)
$16,348 
The following table summarizes the notional value at inception and fair value of our joint ventures' derivative financial instruments as of December 31, 2023 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 ValueStrike RateEffective DateExpiration DateClassificationFair Value
Interest Rate Cap$220,000 4.000 %February 2023February 2024Asset$318 
Interest Rate Cap484,069 0.490 %February 2022May 2024Asset8,331 
Interest Rate Cap484,069 0.490 %February 2022May 2024Asset8,330 
Interest Rate Cap505,412 3.000 %June 2023June 2024Asset4,948 
Interest Rate Cap272,000 4.000 %August 2023August 2024Asset1,675 
Interest Rate Cap477,783 3.500 %September 2023September 2024Asset5,213 
Interest Rate Cap278,161 4.000 %May 2024November 2024Asset948 
Interest Rate Cap278,161 4.000 %May 2024November 2024Asset948 
Interest Rate Swap250,000 3.608 %April 2023February 2026Asset1,819 
Interest Rate Swap250,000 3.608 %April 2023February 2026Asset1,818 
Interest Rate Swap177,000 1.555 %December 2022February 2026Asset8,686 
$43,034 
Schedule of effect of derivative financial instruments on consolidated statements of income
The following table presents 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, 2023, 2022, and 2021, respectively (in thousands):
 Amount of Gain (Loss)
Recognized in
Other Comprehensive (Loss) Income		Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain (Loss) Reclassified from
Accumulated Other Comprehensive Income into Income
Year Ended December 31,Year Ended December 31,
Derivative202320222021202320222021
Interest Rate Swaps/Caps$18,484 $83,162 $15,643 Interest expense$42,270 $4,989 $(17,602)
Share of unconsolidated joint ventures' derivative instruments7,399 24,783 (19,400)Equity in net loss from unconsolidated joint ventures16,050 (673)(7,582)
$25,883 $107,945 $(3,757)$58,320 $4,316 $(25,184)