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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments designated as hedging instruments

The following table presents a summary of the Company’s derivative instruments designated as hedging instruments (dollars in thousands):

Derivative Instrument			Effective Date						Maturity Date						Interest Rate Strike						Fair Value																		Notional Amount
																																	September 30, 2019						December 31, 2018						September 30, 2019						December 31, 2018
Assets:
Interest rate cap			12/1/2014						5/4/2021						4.0		%				$	1					$	25					$	50,000					$	50,000
Interest rate cap			9/1/2015						4/1/2019						4.0		%				—						—						—						50,000
Interest rate cap			9/1/2015						2/3/2020						4.0		%				—						1						50,000						50,000
Total																					$	1					$	26					$	100,000					$	150,000

Schedule of effects of derivative financial instruments on consolidated statements of operations

The following table presents the effect of the Company’s derivative financial instruments on its accompanying consolidated statements of operations for the three and nine months ended September 30, 2019 and 2018 (in thousands):

			For the Three Months Ended September 30,																		For the Nine Months Ended September 30,
			2019						2018						2019						2018
Interest rate caps in cash flow hedging relationships:
Amount of gain recognized in AOCI on derivatives (effective portion)			$	178					$	80					$	265					$	211
Amount of gain reclassified from AOCI into interest expense (effective portion)			$	178					$	80					$	265					$	211

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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