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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUES    
Revenues $ 214,023,000 $ 252,263,000
OPERATING EXPENSES    
Operating expenses 110,056,000 111,298,000
General and administrative 19,710,000 18,724,000
Depreciation and amortization 91,854,000 97,139,000
Total operating expenses 221,620,000 227,161,000
OTHER INCOME (EXPENSES)    
Loss from unconsolidated real estate entities (743,000) (745,000)
Fee income 1,125,000 2,402,000
Interest expense (44,089,000) (53,807,000)
Interest income 854,000 371,000
Management services reimbursement income—unconsolidated real estate entities 1,156,000 1,064,000
Management services expense—unconsolidated real estate entities (1,156,000) (1,064,000)
Transaction-related expenses (2,150,000) (1,186,000)
Unrealized (loss) gain on non-real estate investments (898,000) 839,000
Gain on sale of real estate 0 7,046,000
Other income 143,000 5,161,000
Total other expenses (45,758,000) (39,919,000)
Loss before income tax benefit (provision) (53,355,000) (14,817,000)
Income tax benefit (provision) 0 0
Net loss (53,355,000) (14,817,000)
Net income attributable to participating securities (202,000) (553,000)
Net loss (income) attributable to non-controlling interest in consolidated real estate entities 4,169,000 (1,031,000)
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 1,157,000 894,000
Net loss attributable to common units in the operating partnership 1,229,000 282,000
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (52,202,000) $ (20,425,000)
BASIC AND DILUTED PER SHARE AMOUNTS    
Net loss attributable to common stockholders—basic (in dollars per share) $ (0.37) $ (0.14)
Net loss attributable to common stockholders—diluted (in dollars per share) $ (0.37) $ (0.14)
Weighted average shares of common stock outstanding—basic (in shares) 141,122,337 141,025,021
Weighted average shares of common stock outstanding—diluted (in shares) 141,122,337 141,025,021
Series A preferred units    
OTHER INCOME (EXPENSES)    
Net income attributable to preferred units/shares $ (153,000) $ (153,000)
Series C preferred stock    
OTHER INCOME (EXPENSES)    
Net income attributable to preferred units/shares (5,047,000) (5,047,000)
Office    
REVENUES    
Rental revenues 171,427,000 202,657,000
Service and other revenues 3,648,000 3,976,000
Revenues 175,075,000 206,633,000
OPERATING EXPENSES    
Operating expenses 72,947,000 74,054,000
Studio    
REVENUES    
Rental revenues 13,600,000 16,253,000
Service and other revenues 25,348,000 29,377,000
Revenues 38,948,000 45,630,000
OPERATING EXPENSES    
Operating expenses $ 37,109,000 $ 37,244,000