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DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2022
DERIVATIVE INSTRUMENTS |
Schedule of interest cap agreements | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest Rate Cap Detail | ​ | ​ | Notional Amount Outstanding
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | September 30,
Trade date | ​ | Cap Rate | ​ | Start Date | ​ | End Date |  | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
March 25, 2021 | ​ | 0.75 | % | ​ | April 29, 2021 | ​ | March 28, 2024 | ​ | $ | 50,000
July 29, 2020 | ​ | 0.75 | % | ​ | July 31, 2020 | ​ | December 29, 2023 | ​ | ​ | 100,000
March 6, 2020 | ​ | 1.50 | % | ​ | March 10, 2020 | ​ | March 10, 2023 | ​ | ​ | 50,000
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 200,000
​
Schedule of the effect of fair value and cash flow hedge accounting on the statement of operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The Effect of Fair Value and Cash Flow Hedge Accounting on the Statements of Operations
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​ | ​ | For the Three Months Ended September 30, | ​ | For the Nine Months Ended September 30,
​ | ​ | 2022 |  | 2021 |  | 2022 |  | 2021 | ​
​ | ​ | Interest Expense | ​ | Interest Expense | ​ | Interest Expense | ​ | Interest Expense | ​
Total amounts of income and expense line items presented in the statements of operations in which the effects of fair value or cash flow hedges are recorded | ​ | $ | 2,276 | ​ | $ | 3,943 | ​ | $ | 6,923 | ​ | $ | 12,955 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The effects of fair value and cash flow hedging | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Gain or (loss) on cash flow hedging relationships in Subtopic 815-20: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest contracts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount of gain or (loss) reclassified from AOCI to income | ​ | $ | (626) | ​ | $ | — | ​ | $ | (676) | ​ | $ | — | ​
Premium excluded and recognized on an amortized basis | ​ | ​ | 41 | ​ | ​ | 43 | ​ | ​ | 139 | ​ | ​ | 153 | ​
Amount of gain or (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Schedule of interest rate cap assets | ​
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​ | ​ | ​ | ​ | ​ | September 30, | ​ | ​ | December 31, | ​
​ | ​ | Balance Sheet Location | ​ | ​ | 2022 | ​ | ​ | 2021 | ​
Derivatives designated as hedging instruments | ​
Interest rate caps | ​ | Fair value of derivative instruments – current | ​ | $ | 5,551 | ​ | $ | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate caps | ​ | Fair value of derivative instruments – noncurrent | ​ | $ | 1,577 | ​ | $ | 1,166 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated as hedging instruments | ​
Interest rate caps | ​ | Fair value of derivative instruments – current | ​ | $ | 173 | ​ | $ | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate caps | ​ | Fair value of derivative instruments – noncurrent | ​ | $ | 82 | ​ | $ | — | ​
Components of AOCI included in the accompanying condensed consolidated balance sheet | ​
​ | ​ | ​ | ​ | ​
AOCI — January 1, 2022 | ​ | $ | 825 | ​
​ | ​ | ​ | ​ | ​
Amount recognized in OCI on derivative, intrinsic | ​ |  | 6,921 | ​
Amount recognized in OCI on derivative, excluded | ​ |  | (641) | ​
Amount reclassified from OCI into income | ​ |  | — | ​
​ | ​ | ​ | ​ | ​
AOCI — September 30, 2022 | ​ | $ | 7,105 | ​

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