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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES        
Revenues $ 186,617 $ 200,393 $ 575,078 $ 632,416
OPERATING EXPENSES        
General and administrative 13,709 19,544 59,968 59,959
Depreciation and amortization 94,085 86,672 281,921 265,324
Total operating expenses 211,753 221,057 667,159 663,436
OTHER (EXPENSES) INCOME        
Loss from unconsolidated real estate entities (744) (3,219) (2,203) (6,443)
Fee income 1,082 1,437 3,917 3,933
Interest expense (41,726) (45,005) (133,368) (133,253)
Interest income 2,212 542 4,770 1,975
Management services reimbursement income—unconsolidated real estate entities 1,084 989 3,182 3,187
Management services expense—unconsolidated real estate entities (1,084) (989) (3,182) (3,187)
Transaction-related expenses (139) (269) (590) (2,306)
Unrealized loss on non-real estate investments (2,098) (1,081) (2,335) (3,024)
Gain on sale of real estate, net 0 0 10,007 0
Impairment loss 0 (36,543) (18,476) (36,543)
Loss on deconsolidation of real estate entity (77,907) 0 (77,907) 0
Loss on extinguishment of debt (207) 0 (3,702) 0
Other income (expense) 601 (28) 516 1,449
Total other expenses (118,926) (84,166) (219,371) (174,212)
Loss before income tax provision (144,062) (104,830) (311,452) (205,232)
Income tax provision (24) (2,183) (672) (2,693)
Net loss (144,086) (107,013) (312,124) (207,925)
Net income attributable to participating securities 0 0 0 (409)
Net loss attributable to non-controlling interest in consolidated real estate entities 9,966 10,777 24,108 18,697
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 974 968 2,771 3,086
Net loss attributable to common units in the operating partnership 1,779 2,550 6,382 5,004
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (136,467) $ (97,918) $ (294,324) $ (197,147)
BASIC AND DILUTED PER SHARE AMOUNTS        
Net loss attributable to common stockholders—basic (in dollars per share) $ (0.30) $ (0.69) $ (1.11) $ (1.40)
Net loss attributable to common stockholders—diluted (in dollars per share) $ (0.30) $ (0.69) $ (1.11) $ (1.40)
Weighted average shares of common stock outstanding—basic (in shares) 451,031,299 141,232,361 266,162,166 141,178,912
Weighted average shares of common stock outstanding—diluted (in shares) 451,031,299 141,232,361 266,162,166 141,178,912
Series A preferred units        
OTHER (EXPENSES) INCOME        
Net income attributable to preferred units/share $ (53) $ (153) $ (320) $ (459)
Series C preferred stock        
OTHER (EXPENSES) INCOME        
Net income attributable to preferred units/share (5,047) (5,047) (15,141) (15,141)
Office        
REVENUES        
Rental revenues 148,290 162,908 457,216 506,931
Service and other revenues 6,289 4,034 18,407 11,125
Revenues 154,579 166,942 475,623 518,056
OPERATING EXPENSES        
Operating expenses 71,577 79,502 215,355 227,753
Studio        
REVENUES        
Rental revenues 13,567 13,720 41,108 41,761
Service and other revenues 18,471 19,731 58,347 72,599
Revenues 32,038 33,451 99,455 114,360
OPERATING EXPENSES        
Operating expenses $ 32,382 $ 35,339 $ 109,915 $ 110,400