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Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Segment Reporting [Abstract] |
Disaggregation of Revenue [Table Text Block] |
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (In thousands)
Property management fees | $ | 22,437 |  |  | $ | 24,831 |  |  | $ | 16,022 |
Asset management fees | 14,045 |  |  | 14,910 |  |  | 10,083 |
Leasing fees | 7,377 |  |  | 6,658 |  |  | 3,639 |
Development fees | 15,655 |  |  | 7,592 |  |  | 3,653 |
Construction management fees | 1,669 |  |  | 2,892 |  |  | 2,220 |
Other service revenue | 4,269 |  |  | 2,801 |  |  | 712 |
Third-party real estate services revenue, excluding reimbursements | 65,452 |  |  | 59,684 |  |  | 36,329 |
Reimbursements revenue (1) | 55,434 |  |  | 39,015 |  |  | 26,907 |
Third-party real estate services revenue, including reimbursements | $ | 120,886 |  |  | $ | 98,699 |  |  | $ | 63,236 |
_________________
(1) | Represents reimbursement of expenses incurred by us on behalf of third parties, including allocated payroll costs and amounts paid to third-party contractors for construction management projects.
Segment information | The following is the reconciliation of net income attributable to common shareholders to consolidated NOI:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (In thousands)
Net income (loss) attributable to common shareholders | $ | 65,571 |  |  | $ | 39,924 |  |  | $ | (71,753 | )
Add: |  |  |  |  |
Depreciation and amortization expense | 191,580 |  |  | 211,436 |  |  | 161,659 |
General and administrative expense: |  |  |  |  |
Corporate and other | 46,822 |  |  | 33,728 |  |  | 39,350 |
Third-party real estate services | 113,495 |  |  | 89,826 |  |  | 51,919 |
Share-based compensation related to Formation Transaction and special equity awards | 42,162 |  |  | 36,030 |  |  | 29,251 |
Transaction and other costs | 23,235 |  |  | 27,706 |  |  | 127,739 |
Interest expense | 52,695 |  |  | 74,447 |  |  | 58,141 |
Loss on extinguishment of debt | 5,805 |  |  | 5,153 |  |  | 701 |
Reduction of gain (gain) on bargain purchase | — |  |  | 7,606 |  |  | (24,376 | )
Income tax benefit | (1,302 | ) |  | (738 | ) |  | (9,912 | )
Net income (loss) attributable to redeemable noncontrolling interests | 8,573 |  |  | 6,710 |  |  | (7,328 | )
Less: |  |  |  |  |
Third-party real estate services, including reimbursements | 120,886 |  |  | 98,699 |  |  | 63,236 |
Other revenue (1) | 7,638 |  |  | 6,358 |  |  | 5,167 |
Income (loss) from unconsolidated real estate ventures, net | (1,395 | ) |  | 39,409 |  |  | (4,143 | )
Interest and other income, net | 5,385 |  |  | 15,168 |  |  | 1,788 |
Gain on sale of real estate | 104,991 |  |  | 52,183 |  |  | — |
Net loss attributable to noncontrolling interests | — |  |  | 21 |  |  | 3 |
Consolidated NOI | $ | 311,131 |  |  | $ | 319,990 |  |  | $ | 289,340 |
__________________________
(1) | Excludes parking revenue of $26.0 million, $25.7 million and $23.1 million for each of the three years in the period ended December 31, 2019.
The following is a summary of NOI by segment. Items classified in the Other column include future development assets, corporate entities and the elimination of intersegment activity.
| Year Ended December 31, 2019
| Commercial |  | Multifamily |  | Other |  | Total
| (In thousands)
Property rentals revenue | $ | 383,311 |  |  | $ | 116,330 |  |  | $ | (6,368 | ) |  | $ | 493,273 |
Other property revenue | 25,593 |  |  | 380 |  |  | — |  |  | 25,973 |
Total property revenue | 408,904 |  |  | 116,710 |  |  | (6,368 | ) |  | 519,246 |
Property expense: |  |  |  |  |  | — |  |
Property operating | 113,177 |  |  | 35,236 |  |  | (10,791 | ) |  | 137,622 |
Real estate taxes | 50,115 |  |  | 15,021 |  |  | 5,357 |  |  | 70,493 |
Total property expense | 163,292 |  |  | 50,257 |  |  | (5,434 | ) |  | 208,115 |
Consolidated NOI | $ | 245,612 |  |  | $ | 66,453 |  |  | $ | (934 | ) |  | $ | 311,131 |
| Year Ended December 31, 2018
| Commercial |  | Multifamily |  | Other |  | Total
| (In thousands)
Property rentals revenue | $ | 404,826 |  |  | $ | 108,989 |  |  | $ | (368 | ) |  | $ | 513,447 |
Other property revenue | 25,216 |  |  | 368 |  |  | 94 |  |  | 25,678 |
Total property revenue | 430,042 |  |  | 109,357 |  |  | (274 | ) |  | 539,125 |
Property expense: |  |  |  |  |  |  |
Property operating | 118,288 |  |  | 31,502 |  |  | (1,709 | ) |  | 148,081 |
Real estate taxes | 53,324 |  |  | 14,280 |  |  | 3,450 |  |  | 71,054 |
Total property expense | 171,612 |  |  | 45,782 |  |  | 1,741 |  |  | 219,135 |
Consolidated NOI | $ | 258,430 |  |  | $ | 63,575 |  |  | $ | (2,015 | ) |  | $ | 319,990 |
| Year Ended December 31, 2017
| Commercial |  | Multifamily |  | Other |  | Total
| (In thousands)
Property rentals revenue | $ | 361,121 |  |  | $ | 91,294 |  |  | $ | (874 | ) |  | $ | 451,541 |
Other property revenue | 22,776 |  |  | 275 |  |  | 18 |  |  | 23,069 |
Total property revenue | 383,897 |  |  | 91,569 |  |  | (856 | ) |  | 474,610 |
Property expense: |  |  |  |  |  | — |  |
Property operating | 97,701 |  |  | 24,623 |  |  | (3,488 | ) |  | 118,836 |
Real estate taxes | 50,546 |  |  | 11,030 |  |  | 4,858 |  |  | 66,434 |
Total property expense | 148,247 |  |  | 35,653 |  |  | 1,370 |  |  | 185,270 |
Consolidated NOI | $ | 235,650 |  |  | $ | 55,916 |  |  | $ | (2,226 | ) |  | $ | 289,340 |
The following is a summary of certain balance sheet data by segment:
| Commercial |  | Multifamily |  | Other |  | Total
December 31, 2019 | (In thousands)
Real estate, at cost | $ | 3,415,294 |  |  | $ | 1,998,297 |  |  | $ | 361,928 |  |  | $ | 5,775,519 |
Investments in unconsolidated real estate ventures | 396,199 |  |  | 107,882 |  |  | 38,945 |  |  | 543,026 |
Total assets (1) | 3,361,122 |  |  | 1,682,872 |  |  | 942,257 |  |  | 5,986,251 |
December 31, 2018 |  |  |  |  |  |  |
Real estate, at cost | $ | 3,634,472 |  |  | $ | 1,656,974 |  |  | $ | 501,288 |  |  | $ | 5,792,734 |
Investments in unconsolidated real estate ventures | 177,173 |  |  | 109,232 |  |  | 36,473 |  |  | 322,878 |
Total assets (1) | 3,707,255 |  |  | 1,528,177 |  |  | 761,853 |  |  | 5,997,285 |
__________________________ (1) Includes assets held for sale. See Note 4 for additional information.

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