Quarterly report pursuant to Section 13 or 15(d)

Organization (Tables)

v3.21.2
Organization (Tables)
6 Months Ended
Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Summary of Reconciliation of Noncontrolling Interests

The following is a reconciliation of the Parent Company’s noncontrolling redeemable Operating Partnership Units and the Operating Partnership’s limited partners’ redeemable capital interest for the period:

 

(dollars in thousands)

 

Six Months
Ended
June 30, 2021

 

Beginning balance

 

$

26,446

 

Net income attributable to noncontrolling interest in the
   Operating Partnership

 

 

459

 

Redemption of units

 

 

(144

)

Distributions

 

 

(494

)

Adjustment to redemption value

 

 

9,498

 

Ending balance

 

$

35,765

 

Summary of Disaggregated Revenues

The disaggregated revenues of the Company presented in accordance with ASC Topic 606 “Revenue from Contracts with Customers” are as follows:

 

(dollars in thousands)

 

Three Months
Ended
June 30,
2021

 

 

Three Months
Ended
June 30,
2020

 

 

Six Months
Ended
June 30,
2021

 

 

Six Months
Ended
June 30,
2020

 

Rental income

 

$

163,096

 

 

$

128,828

 

 

$

313,379

 

 

$

257,736

 

Management and acquisition fee income

 

 

6,140

 

 

 

4,176

 

 

 

10,730

 

 

 

8,589

 

Revenues related to tenant reinsurance

 

 

13,705

 

 

 

10,754

 

 

 

26,324

 

 

 

20,893

 

Other

 

 

4,321

 

 

 

3,255

 

 

 

8,716

 

 

 

6,738

 

Total operating revenues

 

$

187,262

 

 

$

147,013

 

 

$

359,149

 

 

$

293,956