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Financial Instruments and Fair Values (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of the terms of the agreement and the fair value of derivative financial instruments The table below summarizes the terms of agreements and the fair values of our derivative financial instruments as of September 30, 2023 and December 31, 2022 (amounts in thousands):     
September 30, 2023December 31, 2022
DerivativeNotional AmountReceive RatePay RateEffective DateExpiration DateAssetLiabilityAssetLiability
Interest rate swap$36,820 
70% of 1 Month SOFR
2.5000%December 1, 2021November 1, 2030$1,281 $— $256 $— 
Interest rate swap103,790 
70% of 1 Month SOFR
2.5000%December 1, 2021November 1, 20334,279 — 365 — 
Interest rate swap10,710 
70% of 1 Month SOFR
1.7570%December 1, 2021November 1, 2033941 — 643 — 
Interest rate swap16,356 1 Month SOFR2.2540%December 1, 2021November 1, 20301,261 — 1,070 — 
Interest rate cap6,780 
70% of 1 Month SOFR
4.5000%December 1, 2021October 1, 2024— — — 
Interest rate cap9,188 1 Month SOFR5.5000%December 1, 2021October 1, 202422 — 26 — 
Interest rate swap175,000 SOFR Compound2.5620%August 31, 2022December 31, 202610,216 — 8,040 — 
Interest rate swap107,500 SOFR Compound2.6260%August 19, 2022March 19, 20253,799 — 3,766 — 
Interest rate swap107,500 SOFR OIS Compound2.6280%August 19, 2022March 19, 20253,801 — 3,762 — 
$25,600 $— $17,936 $— 
Schedule of effect of our derivative financial instruments designated as cash flow hedges on accumulated other comprehensive income (loss) The table below shows the effect of our derivative financial instruments designated as cash flow hedges on accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2023 and 2022 (amounts in thousands):    
Three Months EndedNine Months Ended
Effects of Cash Flow HedgesSeptember 30, 2023September 30, 2022September 30, 2023September 30, 2022
Amount of gain recognized in other comprehensive income (loss)$9,525 $19,588 $16,058 $39,407 
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense2,275 (1,392)5,429 (7,428)
    The table below shows the effect of our derivative financial instruments designated as cash flow hedges on the condensed consolidated statements of operations for the three and nine months ended September 30, 2023 and 2022 (amounts in thousands):
Three Months EndedNine Months Ended
Effects of Cash Flow HedgesSeptember 30, 2023September 30, 2022September 30, 2023September 30, 2022
Total interest expense presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded$(25,382)$(25,516)$(76,091)$(75,572)
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense2,275 (1,392)5,429 (7,428)
Schedule of the carrying and estimated fair values of financial instruments The following tables summarize the carrying and estimated fair values of our financial instruments as of September 30, 2023 and December 31, 2022 (amounts in thousands):
September 30, 2023
Estimated Fair Value
Carrying
Value
TotalLevel 1Level 2Level 3
Interest rate swaps included in prepaid expenses and other assets$25,578 $25,578 $— $25,578 $— 
Mortgage notes payable878,757 752,874 — — 752,874 
Senior unsecured notes - Series A, B, C, D, E, F, G and H973,819 848,074 — — 848,074 
Unsecured term loan facilities389,158 390,000 — — 390,000 
    
December 31, 2022
Estimated Fair Value
Carrying
Value
TotalLevel 1Level 2Level 3
Interest rate swaps included in prepaid expenses and other assets$17,936 $17,936 $— $17,936 $— 
Mortgage notes payable883,705 783,648 — — 783,648 
Senior unsecured notes - Series A, B, C, D, E, F, G and H973,659 865,292 — — 865,292 
Unsecured term loan facilities388,773 390,000 — — 390,000