Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Outstanding Interest Rate Derivatives

As of December 31, 2019, the Company had the following outstanding interest rate derivatives (dollars in thousands):

Interest Rate Derivative	Number of Instruments	Notional Amount		Maturity Dates
Derivatives designated as hedging instruments:
Interest rate caps	12	$	408,632	January 1, 2020 through July 1, 2023

Fair Value of Derivative Financial Instruments and Balance Sheet Classification

The table below presents the fair value of the Company’s derivative financial instruments on the consolidated balance sheets as of December 31, 2019 and 2018 (in thousands):

Asset Derivatives						Liabilities Derivatives
December 31, 2019			December 31, 2018			December 31, 2019			December 31, 2018
Balance Sheet	Fair Value		Balance Sheet	Fair Value		Balance Sheet	Fair Value		Balance Sheet	Fair Value
Derivatives designated as hedging instruments:
Interest rate caps	$	9	Interest rate caps	$	27	NA	$	—	NA	$	—
Derivatives not designated as hedging instruments:
Cancelable swap	NA		NA	NA		NA	NA		NA	$	—

Effect of Derivative Financial Instruments on The Consolidated Statements of Operations and Comprehensive Loss

The table below presents the effect of the Company's derivative financial instruments on the consolidated statements of operations and comprehensive loss for the years ended December 31, 2019 and 2018 (in thousands):

		Amount of Gain (Loss) Recognized in Income for the Years Ended
Derivatives Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income	December 31, 2019			December 31, 2018
Interest rate caps	Interest expense	$	(285	)	$	(108	)

		Amount of Gain (Loss) Recognized in Income for the Years Ended
Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income	December 31, 2019		December 31, 2018
Cancelable swap	Interest expense	$	—	$	287

	Amount of Gain (Loss) Recognized in OCI on Derivative for the Years Ended						Location of Gain (Loss) Reclassified from Accumulated	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income for the Years Ended
Derivatives in Cash Flow Hedging Relationships	December 31, 2019			December 31, 2018			OCI into Income (Effective Portion)	December 31, 2019			December 31, 2018
Interest rate products	$	(95	)	$	(43	)	Interest expense	$	(285	)	$	(108	)