Noncontrolling Interests

6 Months Ended

Jun. 30, 2020

Noncontrolling Interests in Consolidated Affiliates

At June 30, 2020, our noncontrolling interests in consolidated affiliates relate to our joint venture partners’ 50.0% interest in office properties in Richmond and 20.0% interest in an office development property in Tampa. Our joint venture partners are unrelated third parties.

Noncontrolling Interests in the Operating Partnership

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



	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Beginning noncontrolling interests in the Operating Partnership	$	100,674		$	127,976		$	133,216		$	105,960
Adjustment of noncontrolling interests in the Operating Partnership to fair value	5,776			(14,722		)	(36,525		)	8,532
Issuances of Common Units	—			—			6,163			—
Conversions of Common Units to Common Stock	—			(222		)	—			(353		)
Net income attributable to noncontrolling interests in the Operating Partnership	1,017			1,044			5,977			1,237
Distributions to noncontrolling interests in the Operating Partnership	(1,364		)	(1,298		)	(2,728		)	(2,598		)
Total noncontrolling interests in the Operating Partnership	$	106,103		$	112,778		$	106,103		$	112,778

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



	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020			2019
Net income available for common stockholders	$	37,028	$	39,422	$	222,501		$	46,677
Increase in additional paid in capital from conversions of Common Units to Common Stock	—		222		—			353
Issuances of Common Units	—		—		(6,163		)	—
Change from net income available for common stockholders and transfers from noncontrolling interests	$	37,028	$	39,644	$	216,338		$	47,030