XML 67 R50.htm IDEA: XBRL DOCUMENT
v3.25.4

SEGMENT REPORTING (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Segment Reporting [Abstract] |
Schedule of Selected Results of Operations and Asset Information | In 2024, the Company classified and sold its last remaining non-strategic office asset as discontinued operations (dollars in thousands):
Year Ended December 31, 2023 |  | Total Company
Total revenues |  |  |  | 260,295 |
Total operating and interest expenses (a) |  |  |  | 290,165 |
Equity in earnings (loss) of unconsolidated joint ventures |  |  |  | 3,102 |
Net operating income (loss) (b) |  |  |  | (26,768) |
(a)Total operating and interest expenses represent the sum of: real estate taxes; utilities; operating services; property management; general and administrative, transaction-related costs and interest expense, net of interest and other investment income and other income (expense), net. (b)Net operating income (loss) represents total revenues less total operating and interest expenses (as defined and classified in Note “a”), plus equity in earnings (loss) of unconsolidated joint ventures, for the periods.
Schedule of Reconciliation of Net Operating Income (Loss) to Net Income Available to Common Shareholders | The following schedule reconciles net operating income (loss) to net income (loss) available to common shareholders (dollars in thousands):
|  |  | Year Ended December 31,
|  |  | 2023
Net operating income (loss) |  |  | $ | (26,768)
Add (deduct): |  |  |
Depreciation and amortization |  |  | (86,235) |
Land and other impairments, net |  |  | (9,324) |
Gain (loss) on disposition of developable land |  |  | 7,068
Gain (loss) from extinguishment of debt, net |  |  | (5,606) |
Income (loss) from continuing operations before income tax expense |  |  | (120,865)
Provision for income taxes |  |  | (492) |
Loss from continuing operations after income tax expense |  |  | (121,357) |
Discontinued operations |  |  |
Income (loss) from discontinued operations |  |  | (32,686)
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net |  |  | 41,682 |
Total discontinued operations, net |  |  | 8,996 |
Net income (loss) |  |  | (112,361)
Noncontrolling interests in consolidated joint ventures |  |  | 2,319
Noncontrolling interests in Operating Partnership of loss (income) from continuing operations |  |  | 11,174 |
Noncontrolling interests in Operating Partnership in discontinued operations |  |  | (779)
Redeemable noncontrolling interests |  |  | (7,618) |
Net income (loss) available to common shareholders |  |  | $ | (107,265)
The following schedule reconciles net operating income (loss) to net income (loss) available to common unitholders (dollars in thousands):
|  |  | Year Ended December 31,
|  |  | 2023
Net operating income (loss) |  |  | $ | (26,768)
Add (deduct): |  |  |
Depreciation and amortization |  |  | (86,235) |
Land and other impairments, net |  |  | (9,324) |
Gain (loss) on disposition of developable land |  |  | 7,068
Gain (loss) from extinguishment of debt, net |  |  | (5,606) |
Income (loss) from continuing operations before income tax expense |  |  | (120,865)
Provision for income taxes |  |  | (492) |
Income (loss) from continuing operations after income tax expense |  |  | (121,357) |
Discontinued operations |  |  |
Income (loss) from discontinued operations |  |  | (32,686)
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net |  |  | 41,682 |
Total discontinued operations, net |  |  | 8,996 |
Net income (loss) |  |  | (112,361)
Noncontrolling interests in consolidated joint ventures |  |  | 2,319
Redeemable noncontrolling interests |  |  | (7,618) |
Net income (loss) available to common unitholders |  |  | $ | (117,660)

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration