Quarterly report pursuant to Section 13 or 15(d)

NONCONTROLLING INTERESTS

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NONCONTROLLING INTERESTS
6 Months Ended
Jun. 30, 2015
Noncontrolling Interest [Abstract]  
NONCONTROLLING INTERESTS
NONCONTROLLING INTERESTS
As of June 30, 2015 and December 31, 2014, noncontrolling interests consisted of the following:
 
June 30,
 
December 31,
 
2015
 
2014
OP units
20,705,654

 
18,817,088

Subordinated performance units
9,232,067

 
8,447,679

LTIP units
2,730,540

 
2,689,780

DownREIT units
 
 
 
DownREIT OP units
1,415,349

 
1,275,979

DownREIT subordinated performance units
3,688,205

 
3,009,884

Total
37,771,815

 
34,240,410


While the Company controls our operating partnership and manages the daily operations of our operating partnership's business, the Company did not have an ownership interest or share in our operating partnership's profits and losses prior to the completion of the Company's initial public offering. The increase in OP Units, DownREIT OP units, subordinated performance units, and DownREIT subordinated performance units outstanding from December 31, 2014 to June 30, 2015 was due to the acquisition of self storage properties and a centralized call center. The increase in LTIP units outstanding from December 31, 2014 to June 30, 2015 was due to the issuance of compensatory LTIP units to third party consultants and employees.