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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES        
Revenues $ 251,430,000 $ 215,602,000 $ 495,943,000 $ 428,721,000
OPERATING EXPENSES        
Operating expenses 99,244,000 81,577,000 191,858,000 159,592,000
General and administrative 21,871,000 17,109,000 42,383,000 35,558,000
Depreciation and amortization 91,438,000 84,178,000 183,631,000 166,939,000
Total operating expenses 212,553,000 182,864,000 417,872,000 362,089,000
OTHER INCOME (EXPENSE)        
Income from unconsolidated real estate entities 1,780,000 470,000 2,083,000 1,105,000
Fee income 1,140,000 797,000 2,211,000 1,645,000
Interest expense (33,719,000) (30,689,000) (64,555,000) (60,975,000)
Interest income 920,000 937,000 1,830,000 1,934,000
Management services reimbursement income—unconsolidated real estate entities 1,068,000 626,000 2,176,000 626,000
Management services expense—unconsolidated real estate entities (1,068,000) (626,000) (2,176,000) (626,000)
Transaction-related expenses (1,126,000) (1,064,000) (1,382,000) (1,064,000)
Unrealized (loss) gain on non-real estate investments (1,818,000) 5,018,000 (168,000) 10,793,000
Impairment loss (3,250,000) 0 (23,753,000) 0
Other income (expense) 742,000 (1,177,000) 1,594,000 (1,629,000)
Total other expenses (35,331,000) (25,708,000) (82,140,000) (48,191,000)
Net income (loss) 3,546,000 7,030,000 (4,069,000) 18,441,000
Net income attributable to participating securities (300,000) (276,000) (594,000) (554,000)
Net income attributable to non-controlling interest in consolidated real estate entities (7,081,000) (5,549,000) (15,642,000) (12,179,000)
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 1,506,000 1,282,000 3,396,000 1,964,000
Net loss (income) attributable to common units in the operating partnership 93,000 (19,000) 323,000 (69,000)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (7,436,000) $ 2,315,000 $ (27,229,000) $ 7,297,000
BASIC AND DILUTED PER SHARE AMOUNTS        
Net (loss) income attributable to common stockholders - basic (in dollars per share) $ (0.05) $ 0.02 $ (0.19) $ 0.05
Net (loss) income attributable to common stockholders - diluted (in dollars per share) $ (0.05) $ 0.02 $ (0.19) $ 0.05
Weighted average shares of common stock outstanding—basic (in shares) 143,816,698 151,169,612 146,487,388 150,997,564
Weighted average shares of common stock outstanding—diluted (in shares) 143,816,698 152,683,463 146,487,388 151,302,845
Series A units        
OTHER INCOME (EXPENSE)        
Net income attributable to preferred units $ (153,000) $ (153,000) $ (306,000) $ (306,000)
Series C units        
OTHER INCOME (EXPENSE)        
Net income attributable to preferred units (5,047,000) 0 (10,337,000) 0
Office        
REVENUES        
Rental 211,836,000 192,552,000 418,028,000 382,413,000
Service and other revenues 4,408,000 3,151,000 9,616,000 5,433,000
Revenues 216,244,000 195,703,000 427,644,000 387,846,000
OPERATING EXPENSES        
Operating expenses 78,558,000 69,111,000 152,189,000 135,673,000
Studio        
REVENUES        
Rental 13,438,000 11,551,000 26,832,000 23,704,000
Service and other revenues 21,748,000 8,348,000 41,467,000 17,171,000
Revenues 35,186,000 19,899,000 68,299,000 40,875,000
OPERATING EXPENSES        
Operating expenses $ 20,686,000 $ 12,466,000 $ 39,669,000 $ 23,919,000