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Financial Instruments: Derivatives and Hedging (Tables)
 6 Months Ended
Jun. 30, 2024
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 June 30, 2024 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$205,000 4.000 %February 2024February 2025Other Assets$1,387 
Interest Rate Cap370,000 3.250 %June 2024June 2025Other Assets5,953 
Interest Rate Cap370,000 3.250 %June 2024June 2025Other Liabilities(5,929)
Interest Rate Swap257,760 5.010 %June 2024June 2025Other Liabilities(186)
Interest Rate Swap150,000 2.621 %December 2021January 2026Other Assets4,504 
Interest Rate Swap200,000 2.662 %December 2021January 2026Other Assets5,892 
Interest Rate Swap100,000 2.903 %February 2023February 2027Other Assets3,505 
Interest Rate Swap100,000 2.733 %February 2023February 2027Other Assets3,923 
Interest Rate Swap50,000 2.463 %February 2023February 2027Other Assets2,294 
Interest Rate Swap200,000 2.591 %February 2023February 2027Other Assets8,547 
Interest Rate Swap300,000 2.866 %July 2023May 2027Other Assets11,330 
Interest Rate Swap150,000 3.524 %January 2024May 2027Other Assets3,023 
Interest Rate Swap370,000 3.888 %November 2022June 2027Other Assets3,768 
Interest Rate Swap68,678 4.466 %August 2024June 2027Other Liabilities(486)
Interest Rate Swap300,000 4.487 %November 2024November 2027Other Liabilities(3,582)
Interest Rate Swap100,000 3.756 %January 2023January 2028Other Assets1,397 
Interest Rate Swap204,963 3.915 %February 2025May 2028Other Assets8 
Interest Rate Swap537,500 4.137 %April 2024September 2028Other Liabilities(1,041)
$44,307 
The following table summarizes the notional value at inception and fair value of our joint ventures' derivative financial instruments as of June 30, 2024 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$279,059 4.000 %August 2023August 2024Asset$400 
Interest Rate Cap551,020 3.500 %September 2023September 2024Asset1,980 
Interest Rate Cap287,469 4.000 %May 2024November 2024Asset1,386 
Interest Rate Cap287,469 4.000 %May 2024November 2024Asset1,386 
Interest Rate Swap250,000 3.608 %April 2023February 2026Asset4,001 
Interest Rate Swap250,000 3.608 %April 2023February 2026Asset3,999 
Interest Rate Swap177,000 1.555 %December 2022February 2026Asset8,575 
$21,727 
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 June 30, 2024 and 2023, respectively (in thousands):
 Amount of Gain Recognized in
Other Comprehensive Income		Location of Gain Reclassified from Accumulated Other Comprehensive Income into IncomeAmount of Gain Reclassified from
Accumulated Other
Comprehensive Income into Income
Three Months Ended June 30,Three Months Ended June 30,
Derivative2024202320242023
Interest Rate Swaps/Caps$11,192 $45,626 Interest expense$9,734 $10,598 
Share of unconsolidated joint ventures' derivative instruments1,836 11,036 Equity in net income (loss) from unconsolidated joint ventures3,392 4,742 
$13,028 $56,662 $13,126 $15,340 
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 six months ended June 30, 2024 and 2023, respectively (in thousands):
 Amount of Gain Recognized in
Other Comprehensive Income		Location of Gain Reclassified from Accumulated Other Comprehensive Income into IncomeAmount of Gain Reclassified from
Accumulated Other
Comprehensive Income into Income
Six Months Ended June 30,Six Months Ended June 30,
Derivative2024202320242023
Interest Rate Swaps/Caps$42,347 $27,713 Interest expense$19,497 $19,621 
Share of unconsolidated joint ventures' derivative instruments7,542 9,541 Equity in net income (loss) from unconsolidated joint ventures7,276 7,370 
$49,889 $37,254 $26,773 $26,991