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Investments in and Advances to Unconsolidated Affiliates - Schedule of Investments (Parenthetical) (Details) - USD ($) $ in Thousands | 3 Months Ended |  |  |  |  |
--- | --- | --- | --- | --- | --- | ---
Mar. 31, 2025 | Mar. 31, 2024 | Jan. 23, 2025 | Jan. 22, 2025 | Dec. 31, 2024 | Sep. 25, 2024 | Dec. 31, 2023
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Note receivable from related party |  | $ 125,701 |  |  |  | $ 126,584 |  |
Allowance for credit losses |  | 2,127 |  |  |  | 2,004 |  | $ 1,279
Interest income |  | 6,096 | $ 5,238 |  |  |  |  |
Impairment charge |  | $ 100 |  |  |  |  |  |
1238 Wisconsin Avenue |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Debt Instrument, Description of Variable Rate Basis |  | The loan is collateralized by the venture members’ equity interest in the entity that holds the 1238 Wisconsin development property, bears interest at Prime + 1.0% subject to a 4.5% floor and matures on December 28, 2027. |  |  |  |  |  |
1238 Wisconsin Avenue | Core Portfolio |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Construction commitment |  | $ 12,800 |  |  |  |  |  |
Note receivable from related party |  | 12,800 |  |  |  | 12,800 |  |
Allowance for credit losses |  | 100 |  |  |  | 100 |  |
Interest income |  | $ 100 | $ 100 |  |  |  |  |
Equity method investment, ownership percentage | [1],[2] | 80.00% |  |  |  |  |  |
840 N. Michigan Avenue |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Note receivable from related party |  | $ 1,400 |  |  |  | $ 2,300 |  |
Equity method investment, ownership percentage |  | 2.50% |  |  |  |  |  |
Note receivable maturity date |  | Jul. 31, 2025 |  |  |  |  |  |
840 N. Michigan Avenue | Maximum |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage |  | 94.35% |  |  |  |  |  |
840 N. Michigan Avenue | Minimum |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage |  | 91.85% |  |  |  |  |  |
Renaissance Portfolio |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage |  | 48.00% |  | 48.00% | 20.00% |  |  |
Equity method investment, loss on change in control |  | $ 9,600 |  |  |  |  |  |
Renaissance Portfolio | Maximum |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage |  | 100.00% |  | 68.00% |  |  |  |
Renaissance Portfolio | Minimum |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage |  |  |  | 20.00% |  |  |  |
Renaissance Portfolio | Core Portfolio |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage | [3] | 68.00% |  |  |  |  |  |
Equity method investment, loss on change in control |  |  |  | $ 9,600 |  |  |  |
Frederick Crossing |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage |  |  |  |  |  |  | 90.00% |
Fund IV |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage |  | 23.12% |  |  |  |  |  |
Fund V |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |
Equity method investment, ownership percentage |  | 20.10% |  |  |  |  | 90.00% |
[1] | Includes the amounts advanced against a $12.8 million construction commitment from the Company to the venture that holds its investment in 1238 Wisconsin. As of March 31, 2025 and December 31, 2024 the note receivable from a related party had a balance of $12.8 million, as of each period, net of an allowance for credit losses of $0.1 million as of March 31, 2025 and December 31, 2024. The loan is collateralized by the venture members’ equity interest in the entity that holds the 1238 Wisconsin development property, bears interest at Prime + 1.0% subject to a 4.5% floor and matures on December 28, 2027. The Company recognized interest income of $0.1 million for each of the three months ended March 31, 2025 and 2024, respectively, related to this note receivable.
[2] | Represents a variable interest entity for which the Company is not the primary beneficia ry (Note 15).
[3] | On January 23, 2025, the Company acquired an additional 48% economic ownership interest, and increased its existing 20% interest to 68%, in the Renaissance Portfolio primarily located in Washington D.C. Prior to the acquisition, the Company accounted for its 20% interest under the equity method of accounting. Due to the Company gaining a controlling financial interest as a result of this acquisition, the Company determined that the entity is a variable interest entity (“VIE”) for which the Company is the primary beneficiary, and it should consolidate its investment within its Core Portfolio effective January 23, 2025. Accordingly, the Company recognized a loss on change in control of $9.6 million (Note 2).

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