Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk

As of September 30, 2015, we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

Interest Rate Derivative	Number of Instruments	Notional Amount (in thousands)
Interest rate swap	2	$170,097

Schedule of Fair Value of Derivative Financial Instruments

The table below presents the fair value of our derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of September 30, 2015 and December 31, 2014 (amounts in thousands):

		Fair Value as of
Interest Rate Derivative Designated as Hedging Instrument	Balance Sheet Location	September 30, 2015		December 31, 2014
Pay-fixed swaps	Accounts payable and accrued expenses	$	5,142	$	7,462

Schedule of Gain or Loss Recognized on Interest Rate Derivatives Designated as Cash Flow Hedges

The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2015 and 2014 (amounts in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Balance at beginning of period	$	(5,963	)	$	(10,079	)	$	(7,462	)	$	(11,706	)
Amount of (loss) gain recognized in cumulative other comprehensive loss	(418		)	537			(1,378		)	(324		)
Amount of loss reclassified from cumulative other comprehensive loss into interest expense	1,239			1,268			3,698			3,756
Unrealized gain on derivative instruments	821			1,805			2,320			3,432
Balance at end of period	$	(5,142	)	$	(8,274	)	$	(5,142	)	$	(8,274	)