NONCONTROLLING INTERESTS |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interest [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NONCONTROLLING INTERESTS |
NONCONTROLLING INTERESTS
As of June 30, 2015 and December 31, 2014, noncontrolling interests consisted of the following:
While the Company controls our operating partnership and manages the daily operations of our operating partnership's business, the Company did not have an ownership interest or share in our operating partnership's profits and losses prior to the completion of the Company's initial public offering. The increase in OP Units, DownREIT OP units, subordinated performance units, and DownREIT subordinated performance units outstanding from December 31, 2014 to June 30, 2015 was due to the acquisition of self storage properties and a centralized call center. The increase in LTIP units outstanding from December 31, 2014 to June 30, 2015 was due to the issuance of compensatory LTIP units to third party consultants and employees.
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