September 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 September 30, 2017,  a mortgage receivable with a balance of $45.1 million (acquired in August 2017)  which bears interest at 5.85 percent and matures in July 2019 with a three-month extension option; mortgages receivable for $40.2 million (provided to buyers in connection with property sales in August 2017) which bear interest at 4.0 percent and mature in November 2017; mortgages receivable for $24.8 million (provided to buyers in connection with property sales in August 2017) which bear interest at rates of 5.0 and 7.0 percent and mature in November 2017, with three 30-day extension options; and an interest-free note receivable with a net present value of $2.6 million which matures in April 2023.  The Company believes these balances are fully collectible.

(c)

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

(d)

Includes $45.3 million of proceeds from property sales held by a qualified intermediary as of September 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 September 30,



Interest rate swaps

$

$

Interest expense

$

$

Interest and other

$

$



investment income (loss)



Nine months ended September 30,



Interest rate swaps

$

$

Interest expense

$

$

Interest and other

$

$

 -



investment income (loss)







Fair Value

Asset  Derivatives designated

September 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