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Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
The table below presents the operating activity of the Company’s reportable segments:
Year Ended December 31,
202420232022
Office segment
Core office revenues$679,049 $798,429 $836,374 
Core office expenses
Utilities(27,780)(26,214)(24,941)
Taxes(73,862)(77,672)(82,378)
Administrative(29,511)(30,251)(29,780)
Insurance(26,846)(26,408)(19,606)
Other segment expenses(1)
(134,423)(137,527)(135,637)
Total core office expenses(292,422)(298,072)(292,342)
Office net operating income386,627 500,357 544,032 
Studio segment
Studio revenues149,806 139,922 173,524 
Studio expenses
Rent expense & real estate taxes(34,263)(30,483)(16,644)
Cost of goods sold(25,419)(20,020)(24,051)
Other segment expenses(3)
(88,748)(87,944)(64,455)
Total studio expenses(148,430)(138,447)(105,150)
Studio net operating income1,376 1,475 68,374 
TOTAL SEGMENT PROFIT$388,003 $501,832 $612,406 
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1.Includes ground lease rent, cleaning, parking, engineering, security, mechanical, electrical & plumbing and repairs & maintenance expenses.
2.Includes administrative, utilities, security, cleaning, engineering and repairs & maintenance expenses.
The table below presents the reconciliation of segment revenue to consolidated revenue:
Year Ended December 31,
202420232022
Office segment
Core office revenues$679,049 $798,429 $836,374 
Chargebacks13,227 13,946 16,326 
Total office revenues692,276 812,375 852,700 
Studio segment
Total studio revenues149,806 139,922 173,524 
Total revenues$842,082 $952,297 $1,026,224 

The table below reconciles net loss to total profit from all segments:
Year Ended December 31,
202420232022
NET LOSS$(381,406)$(170,700)$(16,517)
General and administrative79,451 74,958 79,501 
Depreciation and amortization354,425 397,846 373,219 
Loss (income) from unconsolidated real estate entities7,308 3,902 (943)
Fee income(5,269)(6,181)(7,972)
Interest expense177,393 214,415 149,901 
Interest income(2,467)(2,182)(2,340)
Management services reimbursement income—unconsolidated real estate entities(4,119)(4,125)(4,163)
Management services expense—unconsolidated real estate entities4,119 4,125 4,163 
Transaction-related expenses2,499 (1,150)14,356 
Unrealized loss on non-real estate investments3,958 3,120 1,440 
Loss (gain) on sale of real estate2,453 (103,202)2,164 
Impairment loss149,664 60,158 28,548 
Gain on extinguishment of debt— (10,000)— 
Other (income) loss(1,647)6 (8,951)
Loss on sale of bonds— 34,046 — 
Income tax provision$1,641 $6,796 $— 
TOTAL SEGMENT PROFIT$388,003 $501,832 $612,406