The following tables present a reconciliation of the beginning and ending balances of redeemable noncontrolling interest and noncontrolling interest for the three and six months ended June 30, 2016 and 2015:



	Three Months Ended June 30, 2016
	Redeemable noncontrolling interest			Noncontrolling interest			Total
Balance, beginning of period	$	1,409,037		$	157,223		$	1,566,260
Issuance of shares	112,500			59,349			171,849
Income attributable to noncontrolling interest	17,230			3,963			21,193
Redemptions payable	(6,484		)	—			(6,484		)
Distributions	—			(8,381		)	(8,381		)
Balance, end of period	$	1,532,283		$	212,154		$	1,744,437



	Three Months Ended June 30, 2015
	Redeemable noncontrolling interest			Noncontrolling interest			Total
Balance, beginning of period	$	834,644		$	151,583		$	986,227
Issuance of shares	249,300			9,600			258,900
Income attributable to noncontrolling interest	17,462			5,099			22,561
Redemption of shares	(59,395		)	—			(59,395		)
Redemptions payable	(6,500		)	—			(6,500		)
Distributions	—			(12,759		)	(12,759		)
Balance, end of period	$	1,035,511		$	153,523		$	1,189,034



	Six Months Ended June 30, 2016
	Redeemable noncontrolling interest			Noncontrolling interest			Total
Balance, beginning of period	$	1,111,714		$	154,662		$	1,266,376
Issuance of shares	381,250			171,674			552,924
Income attributable to noncontrolling interest	45,803			12,921			58,724
Redemptions payable	(6,484		)	—			(6,484		)
Distributions	—			(127,103		)	(127,103		)
Balance, end of period	$	1,532,283		$	212,154		$	1,744,437



	Six Months Ended June 30, 2015
	Redeemable noncontrolling interest			Noncontrolling interest			Total
Balance, beginning of period	$	617,791		$	292,274		$	910,065
Issuance of shares	452,700			9,600			462,300
Income attributable to noncontrolling interest	30,915			9,824			40,739
Redemption of shares	(59,395		)	—			(59,395		)
Redemptions payable	(6,500		)	—			(6,500		)
Distributions	—			(158,175		)	(158,175		)
Balance, end of period	$	1,035,511		$	153,523		$	1,189,034