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Derivatives (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The fair market value of derivatives is presented on a gross basis on the Consolidated Balance Sheets. The following table summarizes the Company’s derivative instruments as of December 31, 2019 and December 31, 2018:

Underlying Debt Instrument						# Hedges						Notional Amount						Effective Date						Maturity Date						Interest Rate Range(1)																		Fair Value (Liabilities)/Assets
																																													Low						High						2019						2018
Met Park North						1						$	64,500					August 2013						August 2020						3.71		%				3.71		%				$	(195)					$	350
Term loan A(2)						2						300,000						July 2016						April 2020						2.65		%				3.06		%				—						4,038
Term loan B(3)						2						350,000						April 2015						April 2022						2.96		%				3.46		%				(1,596)						7,543
Term loan D(4)						1						125,000						June 2016						November 2022						2.63		%				3.13		%				479						4,756
TOTAL																																										$	(1,312)					$	16,687

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1.The rate is based on the fixed rate from the swap and the spread based on the operating partnership’s leverage ratio as of December 31, 2019.

2.On March 13, 2018, the underlying debt instrument that was hedged was amended. Prior to the amendment, the interest rate was effectively fixed at 2.75% to 3.65%. The derivative was terminated on October 4, 2019.

3.On March 13, 2018, the underlying debt instrument that was hedged was amended. Prior to the amendment, the interest rate was effectively fixed at 3.36% to 4.31%.

4.On March 13, 2018, the underlying debt instrument that was hedged was amended. Prior to the amendment, the interest rate was effectively fixed at 3.03% to 3.98%.

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- References

No definition available.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

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