Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Liabilities Measured on Recurring Basis

The following table presents information about the Company's derivatives that are presented net, measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, aggregated by the level in the fair value hierarchy within which those instruments fall:

(In thousands)	Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2			Significant Unobservable Inputs Level 3		Total
March 31, 2016
Derivatives, net	$	—	$	(1,964	)	$	—	$	(1,964	)
December 31, 2015
Derivatives, net	$	—	$	(835	)	$	—	$	(835	)

The following table presents information about the Company's OPP, which is measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, aggregated by the level in the fair value hierarchy within which the instrument falls:

(In thousands)	Quoted Prices in Active Markets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
March 31, 2016
OPP	$	—	$	—	$	25,200	$	25,200
December 31, 2015
OPP	$	—	$	—	$	43,500	$	43,500

Fair Value, by Balance Sheet Grouping

The fair values of the Company's financial instruments that are not reported at fair value on the consolidated balance sheet are reported below.

		March 31, 2016				December 31, 2015
(In thousands)	Level	Gross Principal Balance		Fair Value		Gross Principal Balance		Fair Value
Mortgage notes payable	3	$	369,395	$	382,225	$	388,436	$	401,503
Credit Facility	3	$	485,000	$	487,249	$	485,000	$	487,579