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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Total revenues $ 250,580 $ 250,753 $ 754,549 $ 741,499
Operating Expenses        
General and administrative expenses 10,773 10,109 34,514 33,168
Depreciation and amortization 101,203 97,180 300,762 288,441
Total operating expenses 203,158 202,055 608,855 582,553
Other income 4,359 7,298 14,070 21,772
Other expenses (167) (96) (433) (290)
Income from unconsolidated Fund 0 664 0 1,785
Interest expense (72,809) (56,824) (198,222) (167,111)
Gain from consolidation of JV 0 0 47,212 0
Net (loss) income (21,195) (260) 8,321 15,102
Net loss attributable to noncontrolling interests 10,341 4,878 14,790 9,303
Net (loss) income attributable to common stockholders $ (10,854) $ 4,618 $ 23,111 $ 24,405
Net (loss) income per common share - basic (in usd per share) $ (0.07) $ 0.03 $ 0.13 $ 0.14
Net (loss) income per common share – diluted (in usd per share) $ (0.07) $ 0.03 $ 0.13 $ 0.14
Office rental        
Revenues        
Total revenues $ 201,059 $ 202,661 $ 605,966 $ 599,838
Operating Expenses        
Operating expenses 74,065 78,026 223,677 212,387
Office rental | Rental revenues and tenant recoveries        
Revenues        
Total revenues 171,402 174,457 516,840 515,252
Office rental | Parking and other income        
Revenues        
Total revenues 29,657 28,204 89,126 84,586
Multifamily rental        
Revenues        
Total revenues 49,521 48,092 148,583 141,661
Operating Expenses        
Operating expenses 17,117 16,740 49,902 48,557
Multifamily rental | Parking and other income        
Revenues        
Total revenues 4,298 4,001 12,794 11,697
Multifamily rental | Rental revenues        
Revenues        
Total revenues $ 45,223 $ 44,091 $ 135,789 $ 129,964