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Fair Value (Tables)
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of summary of consolidated Hedging Derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale
The following table summarizes the consolidated derivative positions at March 31, 2018 (dollars in thousands):
 
Non-designated
Hedges
Interest Rate Caps
 
Cash Flow
Hedges
Interest Rate Caps
 
 
 
 
Notional balance
$
688,044

 
$
34,820

Weighted average interest rate (1)
3.2
%
 
3.5
%
Weighted average swapped/capped interest rate
6.5
%
 
5.9
%
Earliest maturity date
Aug 2018

 
Apr 2019

Latest maturity date
Sep 2022

 
Apr 2019

____________________________________

(1)
For interest rate caps, represents the weighted average interest rate on the hedged debt.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
 
For the three months ended
 
3/31/2018
 
3/31/2017
 
 
 
 
Cash flow hedge losses reclassified to earnings
$
1,756

 
$
1,752
Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis
The following tables summarize the classification between the three levels of the fair value hierarchy of the Company's financial instruments measured/disclosed at fair value on a recurring basis (dollars in thousands):
 
 
3/31/2018
Description
 
Total Fair Value
 
Quoted Prices
in Active
Markets for Identical Asset
(Level 1)
 
Significant
Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
 
 
 
Non-Designated Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
$
18

 
$
—

 
$
18

 
$
—

Puts
 
(3,245
)
 
—

 
—

 
(3,245
)
DownREIT units
 
(1,234
)
 
(1,234
)
 
—

 
—

Indebtedness
 
 
 
 
 
 
 
 
Unsecured notes
 
(5,585,598
)
 
(5,585,598
)
 
—

 
—

Secured notes payable and variable rate unsecured indebtedness
 
(1,817,732
)
 
—

 
(1,817,732
)
 
—

Total
 
$
(7,407,791
)
 
$
(5,586,832
)
 
$
(1,817,714
)
 
$
(3,245
)
 
 
12/31/2017
Description
 
Total Fair Value
 
Quoted Prices
in Active
Markets for Identical Asset
(Level 1)
 
Significant
Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
 
 
 
Non-Designated Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
$
2

 
$
—

 
$
2

 
$
—

Cash Flow Hedges
 
 
 
 
 
 
 
 
Interest Rate Swaps - Assets
 
2,270

 
—

 
2,270

 
—

Interest Rate Swaps - Liabilities
 
(1,171
)
 
—

 
(1,171
)
 
—

Puts
 
(3,245
)
 
—

 
—

 
(3,245
)
DownREIT units
 
(1,338
)
 
(1,338
)
 
—

 
—

Indebtedness
 
 
 
 
 
 
 
 
Unsecured notes
 
(5,446,604
)
 
(5,446,604
)
 
—

 
—

Secured notes payable and variable rate unsecured indebtedness
 
(1,849,851
)
 
—

 
(1,849,851
)
 
—

Total
 
$
(7,299,937
)
 
$
(5,447,942
)
 
$
(1,848,750
)
 
$
(3,245
)