Derivatives (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate cap instruments

The table below summarizes our interest rate cap instruments as of September 30, 2020 ($ in thousands):

Effective Date	Termination Date	Strike Rate	Benchmark Rate	Notional Amount
November 2, 2018	May 9, 2024	2.50%	One-month LIBOR	$	505,000
October 16, 2018	October 15, 2022	2.30%	One-month LIBOR	83,270
October 16, 2018	October 15, 2022	2.30%	One-month LIBOR	89,149

Schedule of fair values of derivative instruments

Tabular Disclosure of Fair Values of Derivative Instruments on the Condensed Consolidated Balance Sheets ($ in thousands)

	Asset Derivatives
	Balance Sheet Location	Fair Value as of
		September 30, 2020		December 31, 2019
Derivatives designated as hedging instruments:
Interest rate caps	Prepaid expenses and other assets	$	114	$	2,070
Total		$	114	$	2,070

Schedule of effect of derivative instruments on the consolidated statements of operations

Tabular Disclosure of the Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations ($ in thousands)

	Amount of Gain (Loss) Recognized in OCI on Derivative (effective portion)				Location of Gain (Loss) Reclassified from Accumulated OCI into Net Loss	Amount of Gain (Loss) Reclassified from Accumulated OCI into Net Loss (effective portion)				Total Amount of Interest Expense Presented in the Condensed Consolidated Statements of Operations
	Three Months ended September 30,					Three Months ended September 30,				Three Months ended September 30,
	2020		2019			2020		2019		2020		2019
Derivatives in cash flow hedging relationships
Interest rate caps	$	(245)	$	(1,463)	Interest expense	$	(1,419)	$	(1,430)	$	17,378	$	21,135

	Amount of Gain (Loss) Recognized in OCI on Derivative (effective portion)				Location of Gain (Loss) Reclassified from Accumulated OCI into Net Loss	Amount of Gain (Loss) Reclassified from Accumulated OCI into Net Loss (effective portion)				Total Amount of Interest Expense Presented in the Condensed Consolidated Statements of Operations
	Nine Months ended September 30,					Nine Months ended September 30,				Nine Months ended September 30,
	2020		2019			2020		2019		2020		2019
Derivatives in cash flow hedging relationships
Interest rate caps	$	(1,956)	$	(12,554)	Interest expense	$	(4,180)	$	(3,665)	$	55,790	$	63,810