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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of the Notional Amount and Fair Value of Derivative Instruments
The following table summarizes the notional amount and fair value of the Company’s derivative instruments (amounts in thousands):
Derivatives
Designated as
Hedging
Instruments
 
Balance
Sheet
Location
 
Effective
Dates
 
Maturity
Dates
 
June 30, 2015
 
December 31, 2014
Outstanding
Notional
Amount
 
Fair Value of
 
Outstanding
Notional
Amount
 
Fair Value of
Asset (1)
 
(Liability) (2)
 
Asset (3)
 
(Liability) (4)
 
Interest rate swaps
 
Other assets/Accounts
payable and other
liabilities
 
10/12/2012 to
08/03/2015
 
10/11/2017 to
07/11/2019
 
$
295,046

 
$
315

 
$
(2,778
)
 
$
261,162

 
$
273

 
$
(1,808
)

(1)
Of this amount, $315,000 related to controlling interests.
(2)
Of this amount, $(2,312,000) related to controlling interests and $(466,000) related to noncontrolling interests.
(3)
Of this amount, $273,000 related to controlling interests.
(4)
Of this amount, $(1,434,000) related to controlling interests and $(374,000) related to noncontrolling interests.
Schedule of Gains or Losses Recognized on Derivative Instruments
The table below summarizes the amount of gains or losses recognized on interest rate derivatives designated as cash flow hedges for the three and six months ended June 30, 2015 and 2014 (amounts in thousands):
Derivatives in Cash Flow Hedging Relationships
 
Amount of Income (Loss) Recognized
in OCI on Derivatives
(Effective Portion)
 
Location Of Income (Loss)
Reclassified From
Accumulated Other
Comprehensive Loss to
Net Income
(Effective Portion)
 
Amount of Loss
Reclassified From
Accumulated Other
Comprehensive Loss to
Net Income
(Effective Portion)
Three Months Ended June 30, 2015
 
 
 
 
 
 
Interest rate swaps
 
$
337

 
Interest Expense
 
$
(947
)
Total
 
$
337

 
 
 
$
(947
)
Three Months Ended June 30, 2014
 
 
 
 
 
 
Interest rate swaps
 
$
(1,828
)
 
Interest Expense
 
$
(558
)
Total
 
$
(1,828
)
 
 
 
$
(558
)
Six Months Ended June 30, 2015
 
 
 
 
 
 
Interest rate swaps
 
$
(2,753
)
 
Interest Expense
 
$
(1,825
)
Total
 
$
(2,753
)
 
 
 
$
(1,825
)
Six Months Ended June 30, 2014
 
 
 
 
 
 
Interest rate swaps
 
$
(2,454
)
 
Interest Expense
 
$
(946
)
Total
 
$
(2,454
)
 
 
 
$
(946
)
Schedule of Offsetting of Derivative Assets
The following table presents the effect on the Company’s financial position had the Company made the election to offset its derivative positions as of June 30, 2015 and December 31, 2014 (amounts in thousands):
Offsetting of Derivative Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Assets
 
Gross Amounts
Offset in the
Balance Sheet
 
Net Amounts of
Assets Presented in
the Balance Sheet
 
Financial Instruments
Collateral
 
Cash Collateral
 
Net
Amount
June 30, 2015
$
315

 
$
—

 
$
315

 
$
(35
)
 
$
—

 
$
280

December 31, 2014
$
273

 
$
—

 
$
273

 
$
—

 
$
—

 
$
273
Schedule of Offsetting of Derivative Liabilities
Offsetting of Derivative Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Balance Sheet
 
 
 
Gross
Amounts of
Recognized
Liabilities
 
Gross Amounts
Offset in the
Balance Sheet
 
Net Amounts of
Liabilities
Presented in the
Balance Sheet
 
Financial Instruments
Collateral
 
Cash Collateral
 
Net
Amount
June 30, 2015
$
2,778

 
$
—

 
$
2,778

 
$
(35
)
 
$
—

 
$
2,743

December 31, 2014
$
1,808

 
$
—

 
$
1,808

 
$
—

 
$
—

 
$
1,808