XML 91 R84.htm IDEA: XBRL DOCUMENT v3.25.1
Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss - Summary of Change in Noncontrolling Interest (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance $ 436,017  
Net income (loss) (11,657) $ (6,857)
Other comprehensive income - unrealized gain (loss) on valuation of swap agreements (10,269) 25,819
Consolidation of previously unconsolidated investment 29,573  
Reclassification of realized interest expense on swap agreements 3,920 8,833
Capital call receivable   (6,153)
Noncontrolling interest contributions 7,990 43,709
Noncontrolling interest distributions (4,799) (5,459)
Employee Long-term Incentive Plan Unit Awards 2,599 4,245
Ending Balance 464,786  
Noncontrolling Interests    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance 436,017 446,300
Distributions declared per Common OP Unit (1,444) (1,453)
Net income (loss) (11,596) (7,572)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership (1,718) (12,913)
Other comprehensive income - unrealized gain (loss) on valuation of swap agreements (1,837) 6,237
Consolidation of previously unconsolidated investment 29,573  
Reclassification of realized interest expense on swap agreements (766) (3,751)
City Point Loan accrued interest 0 0
Capital call receivable   (6,153)
Noncontrolling interest contributions 7,990 43,709
Noncontrolling interest distributions (4,799) (5,459)
Employee Long-term Incentive Plan Unit Awards 2,462 4,043
Reallocation of noncontrolling interests [1] 10,904 2,181
Ending Balance 464,786 465,169
Noncontrolling Interests | Noncontrolling Interests in Partially-Owned Affiliates    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance [2] 350,287 346,582
Distributions declared per Common OP Unit [2] 0 0
Net income (loss) [2] (11,759) (7,898)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership [2] 0 0
Other comprehensive income - unrealized gain (loss) on valuation of swap agreements [2] (1,381) 5,378
Consolidation of previously unconsolidated investment [2] 29,573  
Reclassification of realized interest expense on swap agreements [2] (753) (3,697)
City Point Loan accrued interest [2] 0 0
Capital call receivable [2]   (6,153)
Noncontrolling interest contributions [2] 7,990 43,709
Noncontrolling interest distributions [2] (4,799) (5,459)
Employee Long-term Incentive Plan Unit Awards [2] 0 0
Reallocation of noncontrolling interests [1],[2] 0 0
Ending Balance [2] 369,158 372,462
Noncontrolling Interests | Operating Partnership, as General Partner or Managing Member    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance [3] 85,730 99,718
Distributions declared per Common OP Unit [3] (1,444) (1,453)
Net income (loss) [3] 163 326
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership [3] (1,718) (12,913)
Other comprehensive income - unrealized gain (loss) on valuation of swap agreements [3] (456) 859
Consolidation of previously unconsolidated investment [3] 0  
Reclassification of realized interest expense on swap agreements [3] (13) (54)
City Point Loan accrued interest [3] 0 0
Capital call receivable [3]   0
Noncontrolling interest contributions [3] 0 0
Noncontrolling interest distributions [3] 0 0
Employee Long-term Incentive Plan Unit Awards [3] 2,462 4,043
Reallocation of noncontrolling interests [1],[3] 10,904 2,181
Ending Balance [3] 95,628 92,707
Redeemable Noncontrolling Interests    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance [4] 30,583 50,339
Distributions declared per Common OP Unit [4]   0
Net income (loss) [4] (1,669) (2,554)
Conversion of OP Units to Common Shares by limited partners of the Operating Partnership [4] 0 0
Other comprehensive income - unrealized gain (loss) on valuation of swap agreements [4] 0 0
Consolidation of previously unconsolidated investment [4] 0  
Reclassification of realized interest expense on swap agreements [4] 0 0
City Point Loan accrued interest [4] (3,017) (2,323)
Capital call receivable [4]   0
Noncontrolling interest contributions [4] 0 0
Noncontrolling interest distributions [4] 0 0
Employee Long-term Incentive Plan Unit Awards [4] 0 0
Reallocation of noncontrolling interests [1],[4] 0 0
Ending Balance [4] $ 25,897 $ 45,462
[1] Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.
[2] Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and seven other subsidiaries.
[3] Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 2,054,386 and 2,219,958 Common OP Units as of March 31, 2025 and 2024, respectively; (ii) 188 Series A Preferred OP Units as of both March 31, 2025 and 2024; (iii) 66,519 and 126,384 Series C Preferred OP Units as of March 31, 2025 and 2024, respectively; and (iv) 5,224,927 and 4,749,661 LTIP units as of March 31, 2025 and 2024, respectively, as discussed in the Amended and Restated 2020 Plan (Note 13). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above.
[4] Redeemable noncontrolling interests comprise third-party interests that have been granted put rights, as further described below.