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Equity
12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Equity
Equity
Common Shares of Beneficial Interest
Under the original declaration of trust of the Company, the total number of shares initially authorized for issuance was 100,000 common shares. At formation, the Company issued to each of its two initial shareholders 500 common shares at $1 per share, which shares were subsequently redeemed. On May 5, 2011, the declaration of trust was amended to authorize the issuance of up to 450,000,000 common shares.
On March 25, 2013, the Company issued and sold 15,870,000 common shares of beneficial interest, $0.01 par value per share, at a price per share of $21.60 for total gross proceeds of $342.8 million. The Company received aggregate net proceeds of approximately $327.5 million. The Company used the net proceeds from the offering to repay amounts outstanding on its unsecured revolving credit facility, to repay mortgage indebtedness and for general corporate purposes.
 On May 22, 2014, the Company issued and sold 9,200,000 common shares of beneficial interest, $0.01 par value per share, at a price per share of $26.45, for total gross proceeds of $243.3 million. The Company received aggregate net proceeds of approximately $232.7 million.
Preferred Shares of Beneficial Interest
Under the declaration of trust of the Company, the total number of shares initially authorized for issuance was 10,000 preferred shares. On May 5, 2011, the declaration of trust was amended to authorize the issuance of up to 50,000,000 preferred shares. As of both December 31, 2014 and 2013, respectively, there were no preferred shares of beneficial interest outstanding.
Noncontrolling Interest in Joint Venture
As of December 31, 2014, the Company consolidated DBT Met Hotel Venture, LP, a majority-owned limited partnership that has a third-party partner that owns a noncontrolling 1.9% ownership interest. The third-party partnership interest is included in noncontrolling interest in joint venture on the balance sheet.
Noncontrolling Interest in Operating Partnership
The Company consolidated its Operating Partnership, a majority owned limited partnership that has a noncontrolling ownership interest and is included in noncontrolling interest in Operating Partnership on the balance sheet. As of December 31, 2014, the Operating Partnership had 132,858,706 OP units outstanding, of which 99.3% were owned by the Company and its subsidiaries and 0.7% were owned by other limited partners.
The outstanding OP units held by limited partners are redeemable for cash, or at the option of the Company, for a like number of common shares of beneficial interest of the Company.