Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedges, Assets [Abstract]

Schedule of Interest Rate Derivatives

The table below provides additional information regarding the Company’s interest rate derivative contracts (in thousands, except percentages).

Interest Rate Contracts
Type	Property	Effective Date	Expiration Date	Maximum Capacity of Debt in Functional Currency		Notional Amount		Interest Rate Received	Pay Rate /Strike Rate
Interest rate cap	Bishop’s Square	March 3, 2015	April 25, 2020	€	55,200	€	55,200	Euribor	2.00 %
Interest rate cap	Montrose Student Residences	March 24, 2017	March 23, 2022	€	22,605	€	16,954	Euribor	1.25 %
Interest rate cap	Queen’s Court Student Residences	December 20, 2017	December 20, 2020	£	29,500	£	22,125	LIBOR	2.00 %
Interest rate cap	Venue Museum District	September 21, 2018	October 9, 2020	$	45,000	$	45,000	LIBOR	3.50 %
Interest rate cap	Fresh Park Venlo	October 8, 2018	August 15, 2023	€	75,000	€	52,487	Euribor	2.00 %
Interest rate cap	Maintal Logistics	February 28, 2019	February 28, 2024	€	23,500	€	16,450	Euribor	2.00 %
Interest rate cap	ABC Westland	May 3, 2019	February 15, 2024	€	75,000	€	52,500	Euribor	1.00 %
Interest rate cap	Glasgow West End	September 27, 2019	September 24, 2024	£	43,200	£	32,400	LIBOR	2.00 %
Interest rate swap	Gdańsk PL II	October 10, 2019	September 20, 2019	€	16,800	€	16,800	Euribor	(0.36	)%
Interest rate swap	Łódź Urban Logistics	October 10, 2019	September 20, 2024	€	13,600	€	13,600	Euribor	(0.36	)%

Schedule of Foreign Exchange Contracts

The table below provides additional information regarding the Company’s foreign currency forward contracts that were outstanding as of December 31, 2019 (in thousands).

Foreign Currency Forward Contracts
Effective Date	Expiration Date	Notional Amount		Buy/Sell	Traded Currency Rate
October 24, 2019	February 28, 2020	£	31,000	GBP/USD	$	1.29
December 9, 2019	February 28, 2020	£	15,000	GBP/USD	$	1.32

Schedule of Gain (Loss) on Derivative Instruments

The table below presents the effects of the changes in fair value of the Company’s derivative instrument in the Company’s consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2019 and 2018 (in thousands):

	Gain (Loss) Recorded on Derivative Instruments
	Year Ended
	12/31/2019			12/31/2018			12/31/2017
Derivatives not designated as hedging instruments:
Interest rate swaps	$	(149	)	$	—		$	—
Interest rate caps	(454		)	(236		)	(134		)
Foreign currency forward contracts	(1,689		)	(36		)	(238		)
Total gain (loss) on derivatives	$	(2,292	)	$	(272	)	$	(372	)