Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2018

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

Schedule of fair value assumptions

The per unit fair value of the 2018 OPP award granted was estimated on the date of grant using the following assumptions in the Monte Carlo valuation:

	Assumption
Expected price volatility for the Company	20.00%
Expected price volatility for the particular REIT index	18.00%
Risk-free rate	2.37%
Dividend yield	2.90%

Schedule of classification and amount recognized for stock-based compensation

The following table presents the classification and amount recognized for stock-based compensation related to the Company’s awards:     

	Three Months Ended March 31,
	2018		2017
Expensed stock compensation(1)	$	4,338	$	3,902
Capitalized stock compensation(2)	232		199
Total stock compensation(3)	$	4,570	$	4,101

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(1) Amounts are recorded in general and administrative expenses in the Consolidated Statements of Operations.

(2) Amounts are recorded in deferred leasing costs and lease intangible assets, net and investment in real estate, at cost in the Consolidated Balance Sheets.

(3) Amounts are recorded in additional paid-in capital and non-controlling interest—units in the operating partnership in the Consolidated Balance Sheets.