Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest

v3.2.0.727
Non-Controlling Interest
6 Months Ended
Jun. 30, 2015
Noncontrolling Interest [Abstract]  
Non-Controlling Interest
4. Non-Controlling Interest

Non-Controlling Interest in Consolidated Entities

Units of limited partnership interests in the Operating Partnership (“OP units”) that are owned by other limited partners are included in non-controlling interest on our consolidated balance sheets. As of June 30, 2015, the following OP units were issued and outstanding:

 

     OP Units      % of total  

Held by Limited Partners

     284,992         1

Held by the Company

     32,498,992         99

The outstanding OP units held by outside limited partners are redeemable for cash, or at our option, for a like number of shares of our common stock. We exchanged 46,290 OP units held by our non-controlling interest holders for the same number of shares of our common stock during the six months ended June 30, 2015. No OP units were exchanged for shares during the three months ended June 30, 2015. The non-controlling interest holders are generally allocated their pro rata share of income, other comprehensive income and equity transactions.