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EQUITY-BASED AWARDS (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of activity compensatory and acquisition consideration LTIP grants The following table summarizes activity for the time-based LTIP unit awards for the years ended December 31, 2019, 2018 and 2017:
Time-Based LTIP Unit Awards
201920182017
Number of LTIP unitsWeighted Average Grant-Date Fair ValueNumber of LTIP unitsWeighted Average Grant-Date Fair ValueNumber of LTIP unitsWeighted Average Grant-Date Fair Value
Outstanding unvested at beginning of year
223,812  $23.54  227,766  $20.37  294,529  $14.74  
Granted101,167  27.80  100,176  27.08  128,051  22.89  
Vested(138,028) 22.59  (104,130) 20.18  (194,814) 13.43  
Forfeited(5,014) 26.25  —  —  —  —  
Unvested at end of year181,937  $26.55  223,812  $23.54  227,766  $20.37  
The following table summarizes activity for the performance-based LTIP unit awards granted during the year ended December 31, 2019, 2018 and 2017, including the minimum, target and maximum number of LTIP units that may be earned upon the achievement of the performance criteria measured over the period of three years from the grant date.
Performance-Based LTIP Unit Awards  
MinimumTargetMaximumWeighted Average Grant-Date Fair Value
Outstanding unvested at December 31, 2016
—  —  —  $—  
Granted—  40,390  90,874  27.63  
Outstanding unvested at December 31, 2017
—  40,390  90,874  $27.63  
Granted—  46,017  69,025  24.67  
Outstanding unvested at December 31, 2018
—  86,407  159,899  $26.35  
Granted—  53,128  106,252  29.76  
Outstanding unvested at December 31, 2019
—  139,535  266,151  $27.71  
The following table presents the number of units vested for acquisition grants during the years ended December 31, 2019, 2018 and 2017:
Total LTIP units
Total unvested units, December 31, 2016260,400  
Units vested in 2017 related to properties contributed or sourced by PROs(36,400) 
Total unvested units, December 31, 2017224,000  
Units vested in 2018 related to properties contributed or sourced by PROs—  
Total unvested units, December 31, 2018224,000  
Units vested in 2019 related to properties contributed or sourced by PROs—  
Total unvested units, December 31, 2019224,000  
Schedule of valuation assumptions for LTIP Unit grants The following table summarizes the assumptions used to value the performance-based LTIP unit awards granted during the years ended December 31, 2019, 2018 and 2017:
201920182017
Risk-free interest rate2.51 %2.04 %1.58 %
Dividend yield4.54 %4.11 %4.35 %
Expected volatility25.40 %24.44 %29.96 %
Schedule of activity for restricted common shares
The following table summarizes activity for restricted common shares for the years ended December 31, 2019, 2018 and 2017:
Year Ended December 31,
201920182017
Number of Restricted Common SharesWeighted Average Grant-Date Fair ValueNumber of Restricted Common SharesWeighted Average Grant-Date Fair ValueNumber of Restricted Common SharesWeighted Average Grant-Date Fair Value
Outstanding at beginning of year
22,589  $24.83  21,585  $22.43  13,590  $12.40  
Granted18,218  26.46  12,311  27.26  16,525  24.04  
Vested(10,734) 23.54  (8,041) 21.88  (8,530) 14.11  
Forfeited(4,294) 25.61  (3,266) 25.35  —  —  
Unvested at end of year25,779  $26.26  22,589  $24.83  21,585  $22.43