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Investments in Unconsolidated Entities (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Company's Share of Net Earnings or Losses and Reduced by Distributions | The table below summarizes the Company’s investment in the unconsolidated Office Joint Venture, which the Company determined is related to corporate activities and is excluded from its segment reporting:
|  | Office Joint Venture
Investment in Office Joint Venture |  |
Balance at December 31, 2022 |  | $ | 178,647 |
Contributions(1) |  | 1,960 |
Shortfall Loan(1) |  | (1,960) |
Company’s share of net loss(3) |  | (48,659) |
Company’s share of other comprehensive loss |  | (654) |
Impairment provision (2) |  | (129,334) |
Balance at December 31, 2023 |  | $ | — |
(1)Amounts represent the deemed contribution and related Shortfall Loan between the Company’s subsidiary, GRT VAO Sub, and the Funding Member of the Office Joint Venture for the Capital Call. Refer to details above. (2)Amount represents the impairment of the Company’s investment in the Office Joint Venture of $129.3 million. As of September 30, 2023, the Company also had a cumulative proportionate share of the Office Joint Venture’s accumulated other comprehensive income (“AOCI”) of $1.2 million, which was also written off in conjunction with the investment balance being impaired to zero. The write-off of the AOCI resulted in recognition of income, which was also recorded to “Net loss from investment in unconsolidated entity” for a total net loss of $128.1 million during the period. (3)The Company’s share of net loss of $48.7 million relates to the Office Joint Ventures’s activity from September 1, 2022 through June 30, 2023 (reported as of September 30, 2023, due to the recording of the Office Joint Venture’s activity on a one quarter lag). Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses. The table below presents the condensed balance sheet for the unconsolidated Office Joint Venture:
|  | December 31, 2023(1)(3) |  | December 31, 2022 (2)
Assets |  |  |  |
Real estate properties, net |  | $ | 1,092,312 |  |  | $ | 981,354 |
Other assets |  | 299,045 |  |  | 240,447 |
Total Assets |  | $ | 1,391,357 |  |  | $ | 1,221,801 |
Liabilities |  |  |  |
Mortgages payable, net |  | $ | 1,067,005 |  |  | $ | 856,765 |
Other liabilities |  | 92,919 |  |  | 52,018 |
Total Liabilities |  | $ | 1,159,924 |  |  | $ | 908,783 |
(1)Amounts are as of September 30, 2023 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (2)Amounts are as of September 30, 2022 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (3)Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses. The table below presents condensed statements of operations of the unconsolidated Office Joint Venture:
|  | Year Ended December 31,
|  | 2023 (1) |  | 2022 (2) |  |  |
Total revenues |  | $ | 195,193 |  |  | $ | 16,500 |  |  |  |
Expenses: |  |  |  |  |  |  |
Operating expenses |  | (67,438) |  |  | (5,550) |  |  |  |
General and administrative |  | (7,210) |  |  | (500) |  |  |  |
Depreciation and amortization |  | (68,829) |  |  | (9,476) |  |  |  |
Interest expense |  | (190,350) |  |  | (15,735) |  |  |  |
Other expenses, net |  | 7,519 |  |  | (387) |  |  |  |
Total Expenses |  | (326,308) |  |  | (31,648) |  |  |  |
Net Loss(3) |  | $ | (131,115) |  |  | $ | (15,148) |  |  |  |
(1)Amounts represent the period of October 1, 2022 to September 30, 2023 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (2)Amounts represent the period of ownership from August 26, 2022 to September 30, 2022 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (3)Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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