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Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Reconciliation of Net Operating Income of Reportable Segments

The following tables present revenues, NOI, capital expenditures and total assets for the three months ended March 31, 2023 and 2022 from our Residential segment as well as Other, and reconcile NOI to net loss as reported (in thousands):

			Three Months Ended March 31, 2023
			Residential						Other (1)						Consolidated
Real estate rental revenue			$	50,991					$	4,818					$	55,809
Real estate expenses			18,144						1,377						19,521
Net operating income			$	32,847					$	3,441					$	36,288
Other income (expense):
Property management expenses															(1,769)
General and administrative expenses															(6,841)
Transformation costs															(2,900)
Depreciation and amortization															(21,536)
Interest expense															(6,831)
Loss on extinguishment of debt															(54)
Net loss															$	(3,643)
Capital expenditures			$	5,417					$	374					$	5,791
Total assets			$	1,676,596					$	178,403					$	1,854,999

			Three Months Ended March 31, 2022
			Residential						Other (1)						Consolidated
Real estate rental revenue			$	43,334					$	4,470					$	47,804
Real estate expenses			15,901						1,251						17,152
Net operating income			$	27,433					$	3,219					$	30,652
Other income (expense):
Property management expenses															(1,750)
General and administrative expenses															(6,939)
Transformation costs															(2,223)
Depreciation and amortization															(22,200)
Interest expense															(5,650)
Other income															386
Net loss															$	(7,724)
Capital expenditures			$	3,430					$	596					$	4,026
Total assets			$	1,545,731					$	330,993					$	1,876,724

______________________________

(1)     Other represents Watergate 600, an office property that does not meet the qualitative or quantitative criteria for a reportable segment.

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- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

No definition available.

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