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Non-Controlling Interests
 6 Months Ended
Jun. 30, 2022
Noncontrolling Interest [Abstract]  
Non-Controlling Interests

12. Non-Controlling Interests

The following table summarizes OP Units exchanged for shares of common stock:

 

 

 

For the Three Months Ended
June 30,

 

 

For the Six Months Ended
June 30,

 

(in thousands)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

OP Units exchanged for shares of common stock

 

 

—

 

 

 

1,127

 

 

 

—

 

 

 

1,165

 

Value of units exchanged

 

$

—

 

 

$

17,859

 

 

$

—

 

 

$

18,465

 

On June 16, 2021, the Company achieved the VWAP milestone applicable to tranche 1 of the earnout (see Note 4). As a result, the OP issued 247,899 non-controlling OP Units on June 22, 2021. There were no OP Units issued during the three and six months ended June 30, 2022.