Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

The following is a summary of borrowings as of June 30, 2018 and December 31, 2017 (dollars in thousands):


⁽¹⁾	Recorded value does not include deferred financing costs of $4.3 million and $5.3 million as of June 30, 2018 and December 31, 2017, respectively.

The fair value measurements of our derivative assets and liabilities as of June 30, 2018 and December 31, 2017, were as follows (in thousands):



	June 30, 2018		December 31, 2017
Derivative asset:
Interest rate swaps designated as hedging instruments - Term Loans	$	14,337	$	6,544
Derivative liability:
Interest rate swaps designated as hedging instruments - Term Loans	$	—	$	85
Interest rate swaps not designated as hedging instruments - mortgage notes	16		255
Total	$	16	$	340