Equity (Tables)

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

Schedule of Unvested Restricted Stock Activity

The following table sets forth our share-based award activity for the six months ended June 30, 2017: 

	Unvested Awards
	Restricted Common Stock		LTIP Units	Performance Units
Balance at January 1, 2017	287,827		241,691	514,998
Granted	99,584		—	—
Forfeited	(15,145	)	—	—
Vested(1)	(59,887	)	—	—
Balance at June 30, 2017	312,379		241,691	514,998

(1) During the six months ended June 30, 2017, 17,253 shares of the Company’s common stock were tendered in accordance with the terms of the Plan to satisfy minimum statutory tax withholding requirements associated with the vesting of restricted shares of common stock.  

Vesting Schedule of the Unvested Shares of Restricted Stock Outstanding

The following table sets forth the vesting schedule of all unvested share-based awards outstanding as of June 30, 2017:  

	Unvested Awards
	Restricted Common Stock	LTIP Units	Performance Units(1)
July 1, 2017 - December 31, 2017	119,198	70,837	—
2018	76,911	70,842	315,998
2019	55,595	70,838	199,000
2020	40,066	29,174	—
2021	20,609	—	—
Total	312,379	241,691	514,998

(1) Represents the maximum number of Performance Units that would be earned on December 14, 2018 and December 29, 2019, in the event that specified maximum total shareholder return (“TSR”) goals are achieved over the three-year performance period from December 15, 2015 through December 14, 2018 and the three-year performance period from December 29, 2016 through December 28, 2019, respectively. The number of Performance Units that ultimately vest will be based on both the Company’s absolute TSR and TSR performance relative to a peer group over each three-year performance period. The maximum number of Performance Units will be earned under the awards if the Company both (i) achieves 50% or higher absolute TSR, inclusive of all dividends paid, over each performance period and (ii) finishes in the 75th or greater percentile of the peer group for TSR over each three-year performance period.

Shareholders' Equity and Share-based Payments

The following table sets forth the amounts expensed and capitalized for all share-based awards for the reported periods presented below (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Expensed share-based compensation(1)	$	1,394	$	954	$	2,740	$	1,887
Capitalized share-based compensation(2)	64		41		113		74
Total share-based compensation	$	1,458	$	995	$	2,853	$	1,961

(1) Amounts expensed are included in “General and administrative” and “Property expenses” in the accompanying consolidated statements of operations.

(2) Amounts capitalized, which relate to employees who provide construction and leasing services, are included in “Building and improvements” and “Deferred leasing costs, net” in the consolidated balance sheets.

Summary of the Components of Changes in Accumulated Other Comprehensive Loss

The following table summarizes the changes in our accumulated other comprehensive income balance for the six months ended June 30, 2017 and 2016, which consists solely of adjustments related to our cash flow hedges (in thousands):

	Six Months Ended June 30,
	2017			2016
Beginning Balance	$	3,445		$	(3,033	)
Other comprehensive income before reclassifications	(1,054		)	(5,501		)
Amounts reclassified from accumulated other comprehensive income to interest expense	810			1,094
Net current period other comprehensive income	(244		)	(4,407		)
Less other comprehensive income attributable to noncontrolling interests	15			112
Other comprehensive income attributable to common stockholders	(229		)	(4,295		)
Ending Balance	$	3,216		$	(7,328	)