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Risk Management and Use of Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table sets forth certain information regarding our derivative instruments (in thousands):
|  |  |  | Asset Derivatives Fair Value at |  |
Derivatives Designated as Hedging Instruments |  | Balance Sheet Location |  | March 31, 2024 |  | December 31, 2023 |  |  |  |
Interest rate cap |  | Other assets, net |  | $ | 428 |  |  | $ | 433 |  |  |  |  |
|  |  |  | 428 |  |  | 433 |  |  |  |  |
Total derivatives |  |  |  | $ | 428 |  |  | $ | 433 |  |  |  |  |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | The following tables present the impact of our derivative instruments in the consolidated financial statements (in thousands):
|  | Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive (Loss) Income
|  | Three Months Ended March 31, |  |
Derivatives in Cash Flow Hedging Relationships |  | 2024 |  | 2023 |  |  |  |
Interest rate cap |  | $ | 212 |  |  | $ | — |  |  |  |  |
Total |  | $ | 212 |  |  | $ | — |  |  |  |  |
|  |  |  | Amount of Gain (Loss) on Derivatives Reclassified from Other Comprehensive (Loss) Income
|  | Location of Gain (Loss) Recognized in Income |  | Three Months Ended March 31, |  |
Derivatives in Cash Flow Hedging Relationships |  |  | 2024 |  | 2023 |  |  |  |
Interest rate cap |  | Interest expense |  | $ | (215) |  |  | $ | — |  |  |  |  |
Total |  |  |  | $ | (215) |  |  | $ | — |  |  |  |  |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table presents the impact of our derivative instruments in the consolidated financial statements (in thousands):
|  |  |  | Amount of Gain (Loss) on Derivatives Recognized in Income
|  | Location of Gain (Loss) Recognized in Income |  | Three Months Ended March 31, |  |
Derivatives in Cash Flow Hedging Relationships |  |  | 2024 |  | 2023 |  |  |  |
Interest rate cap |  | Interest expense |  | $ | (2) |  |  | $ | — |  |  |  |  |
Total |  |  |  | $ | (2) |  |  | $ | — |  |  |  |  |
Schedule of Derivative Instruments | The interest rate caps that our consolidated subsidiaries had outstanding at March 31, 2024 are summarized as follows (currency in thousands):
Interest Rate Derivatives |  | Number of Instruments |  | Notional Amount |  | Fair Value at March 31, 2024
Designated as Cash Flow Hedging Instruments |  |  |  |  |  |  |
Interest rate cap |  | 1 |  | 335,000 |  | USD |  | $ | 428 |
|  |  |  |  |  |  | $ | 428 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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