Noncontrolling Interests

9 Months Ended

Sep. 30, 2020

Noncontrolling Interest [Abstract]

Noncontrolling Interests

Noncontrolling Interests

Noncontrolling Interests in Consolidated Affiliates

At September 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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Beginning noncontrolling interests in the Operating Partnership	$	106,103	$	112,778	$	133,216	$	105,960
Adjustment of noncontrolling interests in the Operating Partnership to fair value	(10,430)		10,493		(46,955)		19,025
Issuances of Common Units	—		—		6,163		—
Conversions of Common Units to Common Stock	—		(219)		—		(572)
Net income attributable to noncontrolling interests in the Operating Partnership	1,107		737		7,084		1,974
Distributions to noncontrolling interests in the Operating Partnership	(1,364)		(1,296)		(4,092)		(3,894)
Total noncontrolling interests in the Operating Partnership	$	95,416	$	122,493	$	95,416	$	122,493

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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net income available for common stockholders	$	40,304	$	27,901	$	262,805	$	74,578
Increase in additional paid in capital from conversions of Common Units to Common Stock	—		219		—		572
Issuances of Common Units	—		—		(6,163)		—
Change from net income available for common stockholders and transfers from noncontrolling interests	$	40,304	$	28,120	$	256,642	$	75,150