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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Summary of Operating Activity of Reportable Segments | The table below presents the operating activity of our reportable segments:
(In thousands) | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Office Segment |  |  |  |  |  |  |
Total office revenues | $ | 201,059 |  |  | $ | 202,661 |  |  | $ | 605,966 |  |  | $ | 599,838 |
Office expenses | (74,065) |  |  | (78,026) |  |  | (223,677) |  |  | (212,387) |
Office segment profit | 126,994 |  |  | 124,635 |  |  | 382,289 |  |  | 387,451 |
Multifamily Segment |  |  |  |  |  |  |
Total multifamily revenues | 49,521 |  |  | 48,092 |  |  | 148,583 |  |  | 141,661 |
Multifamily expenses | (17,117) |  |  | (16,740) |  |  | (49,902) |  |  | (48,557) |
Multifamily segment profit | 32,404 |  |  | 31,352 |  |  | 98,681 |  |  | 93,104 |
Total profit from all segments | $ | 159,398 |  |  | $ | 155,987 |  |  | $ | 480,970 |  |  | $ | 480,555 |
Schedule of Reconciliation of Segment Profit to Net Income Attributable to Common Stockholders | The table below presents a reconciliation of the net (loss) income attributable to common stockholders to the total profit from all segments:
(In thousands) | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net (loss) income attributable to common stockholders | $ | (10,854) |  |  | $ | 4,618 |  |  | $ | 23,111 |  |  | $ | 24,405 |
Net loss attributable to noncontrolling interests | (10,341) |  |  | (4,878) |  |  | (14,790) |  |  | (9,303) |
Net (loss) income | (21,195) |  |  | (260) |  |  | 8,321 |  |  | 15,102 |
General and administrative expenses | 10,773 |  |  | 10,109 |  |  | 34,514 |  |  | 33,168 |
Depreciation and amortization | 101,203 |  |  | 97,180 |  |  | 300,762 |  |  | 288,441 |
Other income | (4,359) |  |  | (7,298) |  |  | (14,070) |  |  | (21,772) |
Other expenses | 167 |  |  | 96 |  |  | 433 |  |  | 290 |
Income from unconsolidated Fund | — |  |  | (664) |  |  | — |  |  | (1,785) |
Interest expense | 72,809 |  |  | 56,824 |  |  | 198,222 |  |  | 167,111 |
Gain from consolidation of JV | — |  |  | — |  |  | (47,212) |  |  | — |
Total profit from all segments | $ | 159,398 |  |  | $ | 155,987 |  |  | $ | 480,970 |  |  | $ | 480,555 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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