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RISK MANAGEMENT AND USE OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2014
RISK MANAGEMENT AND USE OF FINANCIAL INSTRUMENTS |
Summary of terms and fair values of the derivative financial instruments | The following table summarizes the terms and fair values of the Company’s derivative financial instruments at December 31, 2014 and December 31, 2013, respectively (in thousands):
|  |  |  |  |  |  |  |  |  |  |  | Fair Value |
Hedge |  |  |  | Notional |  |  |  |  |  |  |  | December 31, |  | December 31, |
Product |  | Hedge Type (a) |  | Amount |  | Strike |  | Effective Date |  | Maturity |  | 2014 |  | 2013 |
Swap |  | Cash flow |  | $ | 40,000 |  | 1.8025 | % | 6/20/2011 |  | 6/20/2016 |  | $ | (757 | ) | $ | (1,265 | )
Swap |  | Cash flow |  | $ | 40,000 |  | 1.8025 | % | 6/20/2011 |  | 6/20/2016 |  | (757 | ) | (1,265 | )
Swap |  | Cash flow |  | $ | 20,000 |  | 1.8025 | % | 6/20/2011 |  | 6/20/2016 |  | (378 | ) | (632 | )
Swap |  | Cash flow |  | $ | 75,000 |  | 1.3360 | % | 12/30/2011 |  | 3/31/2017 |  | (841 | ) | (1,132 | )
Swap |  | Cash flow |  | $ | 50,000 |  | 1.3360 | % | 12/30/2011 |  | 3/31/2017 |  | (561 | ) | (752 | )
Swap |  | Cash flow |  | $ | 50,000 |  | 1.3360 | % | 12/30/2011 |  | 3/31/2017 |  | (561 | ) | (754 | )
Swap |  | Cash flow |  | $ | 25,000 |  | 1.3375 | % | 12/30/2011 |  | 3/31/2017 |  | (281 | ) | (380 | )
Swap |  | Cash flow |  | $ | 40,000 |  | 2.4590 | % | 6/20/2011 |  | 6/20/2018 |  | (1,654 | ) | (1,820 | )
Swap |  | Cash flow |  | $ | 40,000 |  | 2.4725 | % | 6/20/2011 |  | 6/20/2018 |  | (1,672 | ) | (1,842 | )
Swap |  | Cash flow |  | $ | 20,000 |  | 2.4750 | % | 6/20/2011 |  | 6/20/2018 |  | (837 | ) | (921 | )
|  |  |  | $ | 400,000 |  |  |  |  |  |  |  | $ | (8,299 | ) | $ | (10,763 | )
| (a) |  | Hedging unsecured variable rate debt by fixing 30-day LIBOR.

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- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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