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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2012
Company's Derivative Instruments, Weighted Average Maturities and Interest Rates
The Company’s derivative instruments consist of the following at December 31, 2012 and 2011:

 

            December 31, 2012     December 31, 2011  
     Balance Sheet Location      Notional
Value		     Estimated
Fair
Value		     Notional
Value		     Estimated
Fair
Value		  

Interest rate swaps

      Derivative instruments       $ 80,881      $ (156 )    $ 241,850      $ (666 ) 

Interest rate caps

      Derivative instruments         203,248 *      1        26,189 *      188   
       

 

 

      

 

 

  

Total derivative instruments

         $ (155 )      $ (478 ) 
       

 

 

      

 

 

  

 

* Represents the notional December 31, 2012 and 2011 but does not include forward-starting notionals.
Summary of Amounts Recognized on Consolidated Statements of Operations Related to Company's Derivatives

The following table summarizes the amounts recognized on the consolidated statements of operations related to the Company’s derivatives at December 31, 2012 and 2011.

 

          Amount of loss
recognized in
income		  
    

Location of Loss Recognized in Income

    2012     2011  

Interest rate swaps

    Loss on derivative instruments – realized *    $ (895 )    $ (1,831 ) 

Interest rate swaps

    Loss on derivative instruments – unrealized      510      $ 763   

Interest rate caps

    Loss on derivative instruments – unrealized      (187 )      (1,628 ) 
     

 

 

    

 

 

  

Total

       $ (572 )    $ (2,696 ) 
     

 

 

    

 

 

  

 

* Realized losses represent net amounts accrued for the Company’s derivative instruments during the period.