Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2022

Interest Rate Swaps [Member]

Derivative [Line Items]

Schedule of Interest Rate Swaps and Interest Rate Caps

The tables below provide additional details on our interest rate swaps and interest rate caps that are designated as cash flow hedges.

Notional

Effective

Maturity

Benchmark

Strike

Fair Value as of

Property

Amount

Date

Date

Rate

Rate

September 30, 2022

December 31, 2021

(Amounts in thousands)

1301 Avenue of the Americas

$

500,000

Jul-2021

Aug-2024

LIBOR

0.46

%

$

34,449

$

6,691

Total interest rate swap assets designated as cash flow hedges (included in "other assets")

$

34,449

$

6,691

Interest Rate Caps [Member]

Derivative [Line Items]

Schedule of Interest Rate Swaps and Interest Rate Caps

Notional

Effective

Maturity

Benchmark

Strike

Fair Value as of

Property

Amount

Date

Date

Rate

Rate

September 30, 2022

December 31, 2021

(Amounts in thousands)

1301 Avenue of the Americas

$

360,000

Jul-2021

Aug-2023

LIBOR

2.00

%

$

6,987

$

306

Total interest rate cap assets designated as cash flow hedges (included in "other assets")

$

6,987

$

306