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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Rental revenue $ 158,410 $ 153,117 $ 466,492 $ 459,469
Observatory revenue 36,037 39,382 93,097 98,102
Lease termination fees 0 4,771 464 4,771
Third-party management and other fees 404 271 1,243 912
Other revenue and fees 2,879 2,058 7,750 7,067
Total revenues 197,730 199,599 569,046 570,321
Operating expenses:        
Property operating expenses 46,957 45,954 136,897 132,530
Ground rent expenses 2,331 2,331 6,994 6,994
General and administrative expenses 18,743 18,372 54,368 52,364
Observatory expenses 9,510 9,715 27,450 27,104
Real estate taxes 33,241 31,982 98,898 96,106
Depreciation and amortization 47,615 45,899 144,196 139,453
Total operating expenses 158,397 154,253 468,803 454,551
Total operating income 39,333 45,346 100,243 115,770
Other income (expense):        
Interest income 1,146 6,960 6,799 16,230
Interest expense (25,189) (27,408) (77,253) (77,859)
Interest expense associated with property in receivership 0 (1,922) (647) (2,550)
Loss on early extinguishment of debt 0 0 0 (553)
Gain on disposition of property 0 1,262 13,170 12,065
Income before income taxes 15,290 24,238 42,312 63,103
Income tax expense (1,645) (1,442) (1,504) (1,537)
Net income 13,645 22,796 40,808 61,566
Private perpetual preferred unit distributions (1,050) (1,050) (3,151) (3,151)
Net income attributable to non-controlling interests in other partnerships 0 0 0 (4)
Net income attributable to common unitholders $ 12,595 $ 21,746 $ 37,657 $ 58,411
Total weighted average units:        
Basic (in shares) 266,963 264,787 266,978 264,675
Diluted (in shares) 270,357 269,613 269,945 268,608
Earnings per unit attributable to common unitholders:        
Basic (in USD per share) $ 0.05 $ 0.08 $ 0.14 $ 0.22
Diluted (in USD per share) 0.05 0.08 0.14 0.22
Dividends per unit ((in USD per share) $ 0.035 $ 0.035 $ 0.105 $ 0.105