Noncontrolling Interests

12 Months Ended

Dec. 31, 2018

Noncontrolling Interest [Abstract]

Noncontrolling Interests

Noncontrolling Interests

Noncontrolling Interests in Consolidated Affiliates

At December 31, 2018, our noncontrolling interests in consolidated affiliates relate to our joint venture partner's 50.0% interest in office properties in Richmond. Our joint venture partner is an unrelated third party.

Noncontrolling Interests in the Operating Partnership

Noncontrolling interests in the Operating Partnership relate to the ownership of Redeemable Common Units. Net income attributable to noncontrolling interests in the Operating Partnership is computed by applying the weighted average percentage of Redeemable Common Units during the period, as a percent of the total number of outstanding Common Units, to the Operating Partnership’s net income for the period after deducting distributions on Preferred Units. When a noncontrolling unitholder redeems a Common Unit for a share of Common Stock or cash, the noncontrolling interests in the Operating Partnership are reduced and the Company’s share in the Operating Partnership is increased by the fair value of each security at the time of redemption.

The following table sets forth the Company's noncontrolling interests in the Operating Partnership:

	Year Ended December 31,
	2018			2017
Beginning noncontrolling interests in the Operating Partnership	$	144,009		$	144,802
Adjustment of noncontrolling interests in the Operating Partnership to fair value	(33,427		)	(354		)
Conversions of Common Units to Common Stock	(4,043		)	(511		)
Net income attributable to noncontrolling interests in the Operating Partnership	4,588			5,059
Distributions to noncontrolling interests in the Operating Partnership	(5,167		)	(4,987		)
Total noncontrolling interests in the Operating Partnership	$	105,960		$	144,009

The following table sets forth net income available for common stockholders and transfers from the Company's noncontrolling interests in the Operating Partnership:

	Year Ended December 31,
	2018		2017		2016
Net income available for common stockholders	$	169,343	$	182,873	$	521,789
Increase in additional paid in capital from conversions of Common Units to Common Stock	4,043		511		3,057
Change from net income available for common stockholders and transfers from noncontrolling interests	$	173,386	$	183,384	$	524,846