Long-Term Incentive Plan Units

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Units held pursuant to the Individual LTIPs are generally exercisable by the holder at any time after vesting. Each unit is convertible into one common share. Costs associated with the Individual LTIPs are measured as of the grant date and expensed ratably over the vesting period. Total expense associated with Individual LTIPs for both the three month periods ended June 30, 2015 and 2014 was $0.1 million. Total expense associated with Individual LTIPs for the six month periods ended June 30, 2015 and 2014 was $0.2 million and $0.1 million, respectively.

Detailed below is a roll-forward of the Company's LTIP units outstanding for the three and six month periods ended June 30, 2015 and 2014:



	Three Month Period Ended June 30, 2015			Three Month Period Ended June 30, 2014
	Manager	Director/ Employee	Total	Manager	Director/ Employee	Total
LTIP Units Outstanding (3/31/2015 and 3/31/2014, respectively)	375,000	54,314	429,314	375,000	36,052	411,052
Granted	—	—	—	—	—	—
Exercised	—	—	—	—	—	—
LTIP Units Outstanding (6/30/2015 and 6/30/2014, respectively)	375,000	54,314	429,314	375,000	36,052	411,052
LTIP Units Vested and Outstanding (6/30/2015 and 6/30/2014, respectively)	375,000	29,859	404,859	375,000	20,314	395,314



	Six Month Period Ended June 30, 2015			Six Month Period Ended June 30, 2014
	Manager	Director/ Employee	Total	Manager	Director/ Employee	Total
LTIP Units Outstanding (12/31/2014 and 12/31/2013, respectively)	375,000	54,314	429,314	375,000	36,052	411,052
Granted	—	—	—	—	—	—
Exercised	—	—	—	—	—	—
LTIP Units Outstanding (6/30/2015 and 6/30/2014, respectively)	375,000	54,314	429,314	375,000	36,052	411,052
LTIP Units Vested and Outstanding (6/30/2015 and 6/30/2014, respectively)	375,000	29,859	404,859	375,000	20,314	395,314