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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of LIBOR interest rate caps
As of December 31, 2021, the Company had the following LIBOR and SOFR interest rate caps ($ in thousands):
Effective DateMaturity DateNotional AmountStrike RatePremium Paid
5/15/20196/1/2022$100,000 
2.50% (LIBOR)
$288 
1/10/20202/1/202250,000 
(a)
1.75% (LIBOR)
87 
1/28/20202/1/202250,000 
(a)
1.75% (LIBOR)
62 
3/2/20203/1/2022100,000 
(a)
1.50% (LIBOR)
111 
7/1/20207/1/2023100,000 
(a)
0.50% (LIBOR)
232 
11/1/202011/1/202384,375 
(a)
1.84% (SOFR)
(b)
91 
2/2/20212/1/2023100,000 
0.50% (LIBOR)
45 
3/4/20214/1/202314,479 
2.50% (LIBOR)
4 
5/5/20215/1/202350,000 
0.50% (LIBOR)
75 
5/5/20215/1/202335,100 
0.50% (LIBOR)
55 
6/16/20217/1/2023100,000 
0.50% (LIBOR)
120 
$783,954 $1,170 
________________________________________
(a) Designated as a cash flow hedge.
(b) This interest rate swap is subject to SOFR, which has been identified as an alternative to LIBOR. LIBOR will be phased out beginning December 31, 2021.

As of December 31, 2021, the Company held the following floating-to-fixed interest rate swaps ($ in thousands):
Related DebtNotional AmountIndexSwap Fixed RateDebt effective rateEffective DateExpiration Date
Senior unsecured term loan$50,000 1-month LIBOR2.78 %4.33 %5/1/20185/1/2023
Senior unsecured term loan10,500 
(a)
1-month LIBOR3.02 %4.57 %10/12/201810/12/2023
249 Central Park Retail, South Retail, and Fountain Plaza Retail33,372 
(a)
1-month LIBOR2.25 %3.85 %4/1/20198/10/2023
Senior unsecured term loan50,000 
(a)
1-month LIBOR2.26 %3.81 %4/1/201910/26/2022
Senior unsecured term loan25,000 
(a)
1-month LIBOR0.50 %2.05 %4/1/20204/1/2024
Senior unsecured term loan25,000 
(a)
1-month LIBOR0.50 %2.05 %4/1/20204/1/2024
Senior unsecured term loan25,000 
(a)
1-month LIBOR0.55 %2.10 %4/1/20204/1/2024
Thames Street Wharf70,761 
(a)
1-month BSBY
(b)
1.05 %2.35 %9/30/20219/30/2026
Total$289,633 
________________________________________
(a) Designated as a cash flow hedge.
(b) This interest rate swap is subject to BSBY, which has been identified as an alternative to LIBOR. LIBOR will be phased out beginning December 31, 2021.
Schedule of derivatives
The Company’s derivatives comprised the following as of December 31, 2021 and 2020 (in thousands):
 
 December 31, 2021December 31, 2020
 Fair ValueFair Value
Notional AmountAssetLiabilityNotional AmountAssetLiability
Derivatives not designated as accounting hedges
Interest rate swaps$50,000 $— $(1,454)$50,000 $— $(3,056)
Interest rate caps399,579 1,019 — 150,000 4 — 
Total derivatives not designated as accounting hedges449,579 1,019 (1,454)200,000 4 (3,056)
Derivatives designated as accounting hedges
Interest rate swaps239,633 1,317 (2,013)290,231 — (11,797)
Interest rate caps384,375 590 — 384,375 86 — 
Total derivatives$1,073,587 $2,926 $(3,467)$874,606 $90 $(14,853)
Schedule of changes in fair value of derivatives
The changes in the fair value of the Company’s derivatives during the years ended December 31, 2021, 2020, and 2019 was as follows (in thousands):
 Years Ended December 31, 
 202120202019
Interest rate swaps$4,775 $(10,318)$(6,050)
Interest rate caps1,222 (518)(2,053)
Total change in fair value of interest rate derivatives$5,997 $(10,836)$(8,103)
Comprehensive income statement presentation:   
Change in fair value of derivatives and other$2,319 $(1,085)$(3,599)
Unrealized cash flow hedge losses3,678 (9,751)(4,504)
Total change in fair value of interest rate derivatives$5,997 $(10,836)$(8,103)