Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivatives

The Company’s derivatives were comprised of the following as of June 30, 2016 and December 31, 2015 (in thousands): 

	June 30, 2016							December 31, 2015
	(Unaudited)
	Notional Amount		Fair Value					Notional Amount		Fair Value
			Asset		Liability					Asset		Liability
Interest rate swaps	$	56,999	$	—	$	(2,492	)	$	57,093	$	—	$	(1,082	)
Interest rate caps	270,000		96		—			246,546		164		—
Total	$	326,999	$	96	$	(2,492	)	$	303,639	$	164	$	(1,082	)

Schedule of changes in fair value of derivatives

The changes in the fair value of the Company’s derivatives during the three and six months ended June 30, 2016 and 2015 were comprised of the following (in thousands): 

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2016			2015			2016			2015
	(Unaudited)
Interest rate swaps	$	(244	)	$	239		$	(2,488	)	$	(548	)
Interest rate caps	(129		)	(41		)	(274		)	(187		)
Total	$	(373	)	$	198		$	(2,762	)	$	(735	)
Comprehensive income statement presentation:
Change in fair value of interest rate derivatives	$	(373	)	$	(40	)	$	(2,762	)	$	(187	)
Unrealized gain (loss) on cash flow hedge	—			238			—			(548		)
Total	$	(373	)	$	198		$	(2,762	)	$	(735	)