XML 75 R26.htm IDEA: XBRL DOCUMENT v2.4.1.9
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Schedule of Accounts Receivable Net of Allowance for Uncollectible Tenant Receivables
The following summarizes our accounts receivable net of allowance for doubtful accounts as of:

 
 
December 31, 2014
 
December 31, 2013
Accounts receivable
 
$
17,287

 
$
9,898

Allowance for doubtful accounts
 
(1,040
)
 
(1,036
)
Accounts receivable, net
 
$
16,247

 
$
8,862

Schedule of Interest Rate Derivatives
As of December 31, 2014, the Company 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
Interest Rate Caps
2
$92.0 million
Interest Rate Swaps
1
$64.5 million
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2014 and 2013. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the consolidated balance sheets.

 
 
Asset Derivatives
 
Liability Derivatives
 
 
 
Fair Value as of
 
 
Fair Value as of
 
 
Balance Sheet Location
December 31, 2014
 
December 31, 2013
 
Balance Sheet Location
December 31, 2014
 
December 31, 2013
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
Interest rate products
 
Interest rate contracts
$
3

 
$
192

 
Interest rate contracts
$
1,750

 

 
 
 
 
 
 
 
 
 
 
 
Total
 
 
$
3

 
$
192

 
 
1,750

 

Schedule of Derivative Instruments, Gain (Loss) on the Income Statement
The tables below present the effect of the Company’s derivative financial instruments on the Statement of Operations for the years ended December 31, 2014 and 2013.

 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
Beginning Balance of OCI related to interest rate contracts
 
$
1,162

 
$
1,465

 
$
1,036

Unrealized Loss Recognized in OCI Due to Change in Fair Value of interest rate contracts
 
1,939

 
(121
)
 
457

Loss Reclassified from OCI into Income (as Interest Expense)
 
(440
)
 
(182
)
 
(28
)
Net Change in OCI
 
$
1,499

 
$
(303
)
 
$
429

 
 
 
 
 
 
 
Ending Balance of Accumulated OCI Related to Derivatives
 
$
2,661

 
$
1,162

 
$
1,465

Allocation of OCI, non-controlling interests
 
(218
)
 
(165
)
 
(178
)
Accumulated other comprehensive deficit

$
2,443


$
997

 
$
1,287