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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of September 30, 2018 and December 31, 2017:
(In thousands)
 
Balance Sheet Location
 
September 30,
2018
 
December 31,
2017
Derivatives designated as hedging instruments:
 
 
 
 
 
 
Foreign currency forwards (EUR-USD)
 
Derivative liabilities, at fair value
 
$
—

 
$
(304
)
Cross currency swaps (EUR)
 
Derivative liabilities, at fair value
 
—

 
(3,328
)
Cross currency swaps (GBP)
 
Derivative assets, at fair value
 
1,170

 
—

Cross currency swaps (GBP)
 
Derivative liabilities, at fair value
 
—

 
(1,183
)
Interest rate swaps (USD)
 
Derivative assets, at fair value
 
5,992

 
2,093

Interest rate swaps (GBP)
 
Derivative assets, at fair value
 
391

 
—

Interest rate swaps (GBP)
 
Derivative liabilities, at fair value
 
—

 
(3,713
)
Interest rate swaps (EUR)
 
Derivative liabilities, at fair value
 
(1,646
)
 
(2,446
)
Total
 
 
 
$
5,907

 
$
(8,881
)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
Foreign currency forwards (GBP-USD)
 
Derivative assets, at fair value
 
$
1,709

 
$
20

Foreign currency forwards (GBP-USD)
 
Derivative liabilities, at fair value
 
(46
)
 
(1,175
)
Foreign currency forwards (EUR-USD)
 
Derivative assets, at fair value
 
1,146

 
—

Foreign currency forwards (EUR-USD)
 
Derivative liabilities, at fair value
 
(12
)
 
(1,258
)
Put options (EUR)
 
Derivative assets, at fair value
 
34

 
63

Interest rate swaps (EUR)
 
Derivative liabilities, at fair value
 
(1,368
)
 
(2,384
)
Total
 
 
 
$
1,463

 
$
(4,734
)
Schedule of Interest Rate Derivatives
As of September 30, 2018 and December 31, 2017, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:
 
 
September 30, 2018
 
December 31, 2017
Derivatives
 
Number of
Instruments
 
Notional Amount
 
Number of
Instruments
 
Notional Amount
 
 
 
 
(In thousands)
 
 
 
(In thousands)
Interest rate swaps (GBP)
 
48
 
$
239,740

 
19
 
$
301,155

Interest rate swaps (EUR)
 
13
 
215,237

 
13
 
222,190

Interest rate swaps (USD)
 
3
 
150,000

 
3
 
150,000

Total
 
64
 
$
604,977

 
35
 
$
673,345
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The table below details the location in the consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2018 and 2017.
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2018
 
2017
 
2018
 
2017
Amount of gain (loss) recognized in accumulated other comprehensive income (loss) from derivatives (effective portion)
 
$
2,018

 
$
(3,738
)
 
$
8,656

 
$
(12,364
)
Amount of loss reclassified from accumulated other comprehensive income (loss) into income as interest expense (effective portion)
 
$
(755
)
 
$
(1,461
)
 
$
(3,090
)
 
$
(4,523
)
Amount of gain (loss) recognized in income on derivative instruments (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)
 
$
16

 
$
(1,102
)
 
$
(96
)
 
$
(1,007
)
Schedule of Foreign Cross Currency Derivatives
As of September 30, 2018 and December 31, 2017, the Company had the following outstanding foreign currency derivatives that were designated as net investment hedges used to hedge its net investments in foreign operations:
 
 
September 30, 2018
 
December 31, 2017
Derivatives
 
Number of
Instruments
 
Notional Amount
 
Number of
Instruments
 
Notional Amount
 
 
 
 
(In thousands)
 
 
 
(In thousands)
Cross currency swaps (EUR-USD)
 
—
 
$
—

 
3
 
$
43,222

Cross currency swaps (GBP-USD)
 
1
 
64,007

 
1
 
66,282

Foreign currency forwards (EUR-USD)
 
—
 
—

 
1
 
12,099

Total
 
1
 
$
64,007

 
5
 
$
121,603
Schedule of Net Investment Hedges
The table below presents the currency draws designated as net investment hedges and the related net investments in real estate designated in foreign currency.
 
 
July 1, 2018
(In thousands)
 
GBP
 
EUR
Currency draws (1)
 
£
40,000

 
€
276,481

Net Investments in Real Estate Denominated in Foreign Currency (2)
 
£
92,213

 
€
349,881

(1) $52.1 million and $320.8 million, respectively, based on the aforementioned exchange rates as of September 30, 2018.
(2) $120.1 million and $406.0 million, respectively, based on the aforementioned exchange rates as of September 30, 2018.
Disclosure of Credit Derivatives
As of September 30, 2018 and December 31, 2017, the Company had the following outstanding derivatives that were not designated as hedges under qualifying hedging relationships.
 
 
September 30, 2018
 
December 31, 2017
Derivatives
 
Number of
Instruments
 
Notional Amount
 
Number of
Instruments
 
Notional Amount
 
 
 
 
(In thousands)
 
 
 
(In thousands)
Foreign currency forwards (GBP-USD)
 
46
 
$
43,500

 
24
 
$
32,116

Foreign currency forwards (EUR-USD)
 
41
 
42,428

 
22
 
35,712

Interest rate swaps (EUR)
 
5
 
140,573

 
6
 
414,093

Options (GBP-USD)
 
—
 
—

 
1
 
675

Options (EUR-USD)
 
1
 
2,500

 
5
 
9,250

Total
 
93
 
$
229,001

 
58
 
$
491,846
Offsetting Assets
The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of September 30, 2018 and December 31, 2017. 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 accompanying consolidated balance sheets.
 
 
 
 
 
 
 
 
 
 
Gross Amounts Not Offset on the Balance Sheet
 
 

(In thousands)
 
Gross Amounts of Recognized Assets
 
Gross Amounts of Recognized (Liabilities)
 
Gross Amounts Offset on the Balance Sheet
 
Net Amounts of Assets (Liabilities) presented on the Balance Sheet
 
Financial Instruments
 
Cash Collateral Received (Posted)
 
Net Amount
September 30, 2018
 
$
10,442

 
$
—

 
$
—

 
$
10,442

 
$
(55
)
 
$
—

 
$
10,387

September 30, 2018
 
$
—

 
$
(3,071
)
 
$
—

 
$
(3,071
)
 
$
55

 
$
—

 
$
(3,016
)
December 31, 2017
 
$
2,176

 
$
(15,791
)
 
$
—

 
$
(13,615
)
 
$
—

 
$
—

 
$
(13,615
)