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Noncontrolling Interests | 3 Months Ended
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Mar. 31, 2019
Noncontrolling Interest [Abstract] |
Noncontrolling Interests | Noncontrolling Interests Noncontrolling interests represent limited partnership interests in the Operating Partnership, of which the Company is the general partner. The Operating Partnership issued 20,000 Class A limited partnership units for $10.00 per unit on February 11, 2014 to the Advisor in exchange for the initial capitalization of the Operating Partnership. On February 14, 2019, as elected by the Advisor, the Company issued 403,266 Operating Partnership units for $9.68 per unit to the Advisor for the 50% of the 2018 performance distribution allocation that the Advisor elected to receive in Class I limited partnership units. The remaining balance was paid in cash. As of March 31, 2019, noncontrolling interests were approximately 0.70% of total shares outstanding and 0.45% of weighted average shares outstanding (both measures assuming limited partnership units were converted to common stock). The Company evaluates individual noncontrolling interests for the ability to recognize the noncontrolling interest as permanent equity on the consolidated balance sheets at the time such interests are issued and on a continual basis. Any noncontrolling interest that fails to qualify as permanent equity will be reclassified as temporary equity and adjusted to the greater of (a) the carrying amount, or (b) its redemption value as of the end of the period in which the determination is made. The limited partners of the Operating Partnership will have the right to cause the Operating Partnership to redeem their limited partnership units for cash equal to the value of an equivalent number of shares, or, at the Company’s option, the Company may purchase such limited partners' limited partnership units by issuing one share of common stock for each limited partnership unit redeemed. These rights may not be exercised under certain circumstances which could cause the Company to lose its REIT election. Furthermore, limited partners generally may exercise their redemption rights only after their limited partnership units have been outstanding for one year. The limited partnership units are reported on the consolidated balance sheets as noncontrolling interests. The following summarizes the activity for noncontrolling interests for the three months ended March 31, 2019 and the year ended December 31, 2018:
| Three Months Ended March 31, 2019 |  | Year Ended December 31, 2018
Beginning balance | $ | 1,182 |  |  | $ | 76 |
Issuance of limited partnership units (1) | 3,904 |  |  | 1,185 |
Distributions to noncontrolling interests | (47 | ) |  | (70 | )
Net loss allocation | (7 | ) |  | (6 | )
Other comprehensive loss | — |  |  | (3 | )
Ending balance | $ | 5,032 |  |  | $ | 1,182 |
(1) | Issuance of limited partnership units were made to affiliates. See Note 9, Related Party Transactions, for further details.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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- References No definition available. + Details
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