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Use of Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of interest rate swaps
The fair value of the interest rate swaps outstanding as of June 30, 2017 and December 31, 2016 was as follows.
Balance Sheet Line Item (in thousands)
 
Notional Amount June 30, 2017
 
Fair Value
June 30, 2017
 
Notional Amount December 31, 2016
 
Fair Value December 31, 2016
Interest rate swaps-Asset
 
$
350,000

 
$
1,701

 
$
300,000

 
$
1,471

Interest rate swaps-Liability
 
$
325,000

 
$
(2,955
)
 
$
375,000

 
$
(2,438
)
The following table details the Company’s outstanding interest rate swaps as of June 30, 2017.
Interest Rate
Derivative Counterparty
 
Trade Date    
 
Effective Date
 
Notional Amount
(in thousands)
 
Fair Value
(in thousands)
 
Pay Fixed Interest Rate
 
Receive Variable Interest Rate
 
Maturity Date
PNC Bank, N.A.
 
Sep-14-2012
 
Oct-10-2012
 
$
10,000

 
$
8

 
0.7945
%
 
One-month L
 
Sep-10-2017 
Bank of America, N.A.
 
Sep-14-2012
 
Oct-10-2012
 
$
10,000

 
$
8

 
0.7945
%
 
One-month L
 
Sep-10-2017 
UBS AG
 
Sep-14-2012
 
Oct-10-2012
 
$
10,000

 
$
8

 
0.7945
%
 
One-month L
 
Sep-10-2017 
Royal Bank of Canada
 
Sep-14-2012
 
Oct-10-2012
 
$
10,000

 
$
8

 
0.7945
%
 
One-month L
 
Sep-10-2017 
RJ Capital Services, Inc.
 
Sep-14-2012
 
Oct-10-2012
 
$
10,000

 
$
8

 
0.7975
%
 
One-month L
 
Sep-10-2017 
Bank of America, N.A.
 
Sep-20-2012
 
Oct-10-2012
 
$
25,000

 
$
23

 
0.7525
%
 
One-month L
 
Sep-10-2017 
RJ Capital Services, Inc.
 
Sep-24-2012
 
Oct-10-2012
 
$
25,000

 
$
24

 
0.7270
%
 
One-month L
 
Sep-10-2017 
Regions Bank
 
Mar-01-2013
 
Mar-01-2013
 
$
25,000

 
$
177

 
1.3300
%
 
One-month L
 
Feb-14-2020 
Capital One, N.A.
 
Jun-13-2013
 
Jul-01-2013
 
$
50,000

 
$
(102
)
 
1.6810
%
 
One-month L
 
Feb-14-2020 
Capital One, N.A.
 
Jun-13-2013
 
Aug-01-2013
 
$
25,000

 
$
(65
)
 
1.7030
%
 
One-month L
 
Feb-14-2020 
Regions Bank
 
Sep-30-2013
 
Feb-03-2014
 
$
25,000

 
$
(254
)
 
1.9925
%
 
One-month L
 
Feb-14-2020 
The Toronto-Dominion Bank
 
Oct-14-2015
 
Sep-29-2016
 
$
25,000

 
$
238

 
1.3830
%
 
One-month L
 
Sep-29-2020
PNC Bank, N.A.
 
Oct-14-2015
 
Sep-29-2016
 
$
50,000

 
$
466

 
1.3906
%
 
One-month L
 
Sep-29-2020
Regions Bank
 
Oct-14-2015
 
Sep-29-2016
 
$
35,000

 
$
329

 
1.3858
%
 
One-month L
 
Sep-29-2020
U.S. Bank, N.A.
 
Oct-14-2015
 
Sep-29-2016
 
$
25,000

 
$
230

 
1.3950
%
 
One-month L
 
Sep-29-2020
Capital One, N.A.
 
Oct-14-2015
 
Sep-29-2016
 
$
15,000

 
$
137

 
1.3950
%
 
One-month L
 
Sep-29-2020
Royal Bank of Canada
 
Jan-08-2015
 
Mar-20-2015
 
$
25,000

 
$
19

 
1.7090
%
 
One-month L
 
Mar-21-2021
The Toronto-Dominion Bank
 
Jan-08-2015
 
Mar-20-2015
 
$
25,000

 
$
17

 
1.7105
%
 
One-month L
 
Mar-21-2021
The Toronto-Dominion Bank
 
Jan-08-2015
 
Sep-10-2017
 
$
100,000

 
$
(1,605
)
 
2.2255
%
 
One-month L
 
Mar-21-2021
Wells Fargo, N.A.
 
Jan-08-2015
 
Mar-20-2015
 
$
25,000

 
$
1

 
1.8280
%
 
One-month L
 
Mar-31-2022
The Toronto-Dominion Bank
 
Jan-08-2015
 
Feb-14-2020
 
$
25,000

 
$
(166
)
 
2.4535
%
 
One-month L
 
Mar-31-2022
Regions Bank
 
Jan-08-2015
 
Feb-14-2020
 
$
50,000

 
$
(355
)
 
2.4750
%
 
One-month L
 
Mar-31-2022
Capital One, N.A.
 
Jan-08-2015
 
Feb-14-2020
 
$
50,000

 
$
(408
)
 
2.5300
%
 
One-month L
 
Mar-31-2022
Schedule of the location in the financial statements of the gain or loss recognized on interest rate swaps
The table below details the location in the financial statements of the gain or loss recognized on interest rate swaps designated as cash flow hedges for the three and six months ended June 30, 2017 and June 30, 2016 (in thousands).
 
 
Three months ended June 30,
 
Six months ended June 30,
 
 
2017
 
2016
 
2017
 
2016
Amount of loss recognized in accumulated other comprehensive loss on interest rate swaps (effective portion)
 
$
1,956

 
$
5,797

 
$
1,442

 
$
18,365

Amount of loss reclassified from accumulated other comprehensive loss into income (loss) as interest expense (effective portion)
 
$
446

 
$
729

 
$
1,144

 
$
1,474

Amount of gain (loss) recognized in interest expense (ineffective portion)
 
$
(129
)
 
$
—

 
$
27

 
$
—
Schedule of financial instruments accounted for at fair value on a recurring basis
The following sets forth the Company’s financial instruments that are accounted for at fair value on a recurring basis as of June 30, 2017 and December 31, 2016. 
 
 
 
 
Fair Value Measurements as of
June 30, 2017 Using
Balance Sheet Line Item (in thousands)
 
Fair Value
June 30, 2017
 
Level 1
 
Level 2
 
Level 3
Interest rate swaps-Asset
 
$
1,701

 
$
—

 
$
1,701

 
$
—

Interest rate swaps-Liability
 
$
(2,955
)
 
$
—

 
$
(2,955
)
 
$
—


 
 
 
 
Fair Value Measurements as of
December 31, 2016 Using
Balance Sheet Line Item (in thousands)
 
Fair Value December 31, 2016
 
Level 1
 
Level 2
 
Level 3
Interest rate swaps-Asset
 
$
1,471

 
$
—

 
$
1,471

 
$
—

Interest rate swaps-Liability
 
$
(2,438
)
 
$
—

 
$
(2,438
)
 
$
—