Derivative and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Notional Amount and Fair Value of Derivative Instruments
The following table summarizes the notional amount and fair value of the Company’s derivative instruments (in thousands):
 
 
Balance Sheet Location
 
 
 
 
 
 
 
 
 
Fair Value of Liability
 
Fair Value of Asset
Derivatives Designated as Hedging Instruments
 
September 30,
2013
 
Notional
Amount
 
Interest
Rate
 
Effective
Date
 
Maturity
Date
 
September 30,
2013
 
December 31,
2012
 
September 30,
2013
 
December 31,
2012
Interest Rate Swap
 
Accounts payable, accrued expenses and other liabilities
 
$
6,788

 
4.67
%
 
10/06/11
 
10/06/16
 
$
(147
)
 
$
(218
)
 
$
—

 
$
—

Interest Rate Swap
 
Accounts payable, accrued expenses and other liabilities
 
$
7,594

 
4.34
%
 
02/06/12
 
10/06/16
 
(94
)
 
(157
)
 
—

 
—

Interest Rate Swap
 
Accounts payable, accrued expenses and other liabilities
 
$
11,055

 
4.62
%
 
06/28/12
 
07/06/17
 
(69
)
 
(219
)
 
—

 
—

Interest Rate Swap
 
Accounts payable, accrued expenses and other liabilities
 
$
6,860

 
5.80
%
 
07/17/13
 
03/01/16
 
(361
)
 
—

 
—

 
—

Interest Rate Swap
 
Accounts payable, accrued expenses and other liabilities
 
$
32,400

 
3.15
%
 
07/17/13
 
09/05/15
 
(204
)
 
—

 
—

 
—

Interest Rate Swap
 
Accounts payable, accrued expenses and other liabilities
 
$
38,250

 
3.52
%
 
07/17/13
 
09/26/14
 
(195
)
 
—

 
—

 
—

Interest Rate Swap
 
Deferred costs and other assets, net
 
$
17,742

 
5.24
%
 
08/30/12
 
08/30/17
 
—

 
(177
)
 
61

 
—

 
 
 
 
 
 
 
 
 
 
 
 
$
(1,070
)
 
$
(771
)
 
$
61

 
$
—
Derivative Instruments Amounts Recorded in AOCL and Gain or (Loss) Reclassified Out of AOCL
The following tables provide information about the amounts recorded in AOCL, as well as the gain or (loss) recorded in operations, when reclassified out of AOCL or recognized in earnings immediately, for the three and nine months ended September 30, 2013 and 2012, respectively (in thousands):
 
 
Amount of Gain or (Loss) Recognized
in AOCL on Derivative
(Effective Portion)
 
 
Three Months 
 Ended September 30,
 
Nine Months 
 Ended September 30,
Derivatives in Cash Flow Hedging Relationships
 
2013
 
2012
 
2013
 
2012
Interest rate swaps
 
$
(320
)
 
$
(433
)
 
$
149

 
$
(873
)
 
 
Amount of Loss Reclassified from
AOCL into Operations
(Effective Portion)
 
 
Three Months 
 Ended September 30,
 
Nine Months 
 Ended September 30,
Location of Loss Reclassified from AOCL into Operations
 
2013
 
2012
 
2013
 
2012
Interest expense
 
$
(120
)
 
$
(1,153
)
 
$
(309
)
 
$
(3,554
)
General and administrative expense
 
$
—

 
$
(4,037
)
 
$
(22
)
 
$
(4,037
)
 
 
Amount of Gain or (Loss) Recognized in
Operations on Derivative
(Ineffective Portion)
 
 
Three Months 
 Ended September 30,
 
Nine Months 
 Ended September 30,
Location of (Loss) or Gain Recognized in Operations on Derivatives
 
2013
 
2012
 
2013
 
2012
General and administrative expense
 
$
(22
)
 
$
(13
)
 
$
32

 
$
(13
)