June 30,

December 31,

(dollars in thousands)

2017

2016

Deferred leasing costs

$

$

Deferred financing costs - unsecured revolving credit facility (a)



Accumulated amortization

Deferred charges, net

Notes receivable (b)

In-place lease values, related intangibles and other assets, net

Goodwill (c)

Prepaid expenses and other assets, net (d)



Total deferred charges, goodwill and other assets, net

$

$

(a)

Pursuant to recently issued accounting standards, deferred financing costs related to all other debt liabilities (other than for the unsecured revolving credit facility) are netted against those debt liabilities for all periods presented. See Note 2: Significant Accounting Policies – Deferred Financing Costs.

(b)

Includes as of June 30, 2017, an interest-free note receivable with a net present value of $2.7 million which matures in April 2023.  The Company believes this balance is fully collectible.

(c)

All goodwill is attributable to the Company’s Multi-family Services segment.

(d)

Includes $15.1 million of proceeds from property sales held by a qualified intermediary as of June 30, 2017.





Derivatives in Cash Flow Hedging Relationships

Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)

Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)

Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)

Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)

Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion, Reclassification for Forecasted Transactions No Longer Probable of Occurring and Amount Excluded from Effectiveness Testing)



2017

2016

2017

2016

2017

2016

Three months ended June 30,



Interest rate swaps

$

$

Interest expense

$

$

Interest and other investment income (loss)

$

$



Six months ended June 30,



Interest rate swaps

$

$

Interest expense

$

$

Interest and other investment income (loss)

$

$







Fair Value

Asset  Derivatives designated

June 30,

December 31,

as hedging instruments

2017

2016

Balance sheet location

Interest rate swaps

$

$

Deferred charges, goodwill and other assets



Liability Derivatives designated

as hedging instruments

Interest rate swaps

$

$

 -

Accounts payable, accrued expenses and other liabilities