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Segment Reporting (Tables)

9 Months Ended

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

X

- 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

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-Name Accounting Standards Codification
-Topic 280
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-Section 50
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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

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-Name Accounting Standards Codification
-Topic 280
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