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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Reconciliation of Segment Revenues

The following table presents segment NOI for the years ended December 31, 2023, 2022, and 2021 is as follows:

						Year Ended December 31,
						2023						2022						2021
Industrial NOI
Total Industrial revenues						$	57,304					$	61,347					$	59,320
Industrial operating expenses						(7,655)						(7,870)						(7,195)
Industrial NOI						49,649						53,477						52,125
Office NOI
Total Office revenues						142,734						297,110						340,265
Office operating expenses						(24,295)						(66,143)						(80,010)
Office NOI						118,439						230,967						260,255
Other NOI
Total Other revenues						54,246						58,029						60,288
Other operating expenses						(20,476)						(19,252)						(19,369)
Other NOI						33,770						38,777						40,919
Total NOI						$	201,858					$	323,221					$	353,299

A reconciliation of net (loss) income to total NOI for the years ended December 31, 2023, 2022, and 2021 is as follows:

						Year Ended December 31,
						2023						2022						2021
Reconciliation of Net (Loss) Income to Total NOI
Net (loss) income						$	(605,102)					$	(441,382)					$	11,570
General and administrative expenses						42,962						38,995						39,051
Corporate operating expenses to affiliates						1,154						1,349						2,520
Impairment provision, real estate						409,512						127,577						4,242
Impairment provision, goodwill						16,031						135,270						—
Depreciation and amortization						112,204						190,745						209,638
Interest expense						65,623						84,816						85,087
Debt breakage costs						—						13,249						—
Other loss (income), net						(13,111)						943						(93)
Loss (income) from investment in unconsolidated entities						176,767						9,993						(8)
Loss (gain) from disposition of assets						(29,164)						139,280						326
Transaction expense						24,982						22,386						966
Total NOI						$	201,858					$	323,221					$	353,299

The following table presents the Company’s goodwill for each of the segments as of December 31, 2023 and 2022:

						Year Ended December 31,
						2023						2022
Goodwill
Industrial						$	68,373					$	68,373
Office						—						—
Other						10,274						26,305
Total Goodwill						$	78,647					$	94,678

The following table presents the Company’s total real estate assets, net, which includes accumulated depreciation and amortization and excludes intangibles, for each segment as of December 31, 2023 and 2022:

						Year Ended December 31,
						2023						2022
Industrial Real Estate, net
Total real estate						$	741,737					$	761,757
Accumulated depreciation and amortization						(152,353)						(137,738)
Industrial real estate, net						589,384						624,019
Office Real Estate, net
Total real estate						1,505,959						2,020,463
Accumulated depreciation and amortization						(286,136)						(305,829)
Office real estate, net						1,219,823						1,714,634
Other Real Estate, net
Total real estate						362,415						715,036
Accumulated depreciation and amortization						(112,063)						(201,072)
Other real estate, net						250,352						513,964
Total Real Estate, net						$	2,059,559					$	2,852,617
Total Real Estate Held for Sale, net
Total real estate						$	64,289					$	26,902
Accumulated depreciation and amortization						(14,636)						(7,494)
Real estate held for sale, net						$	49,653					$	19,408

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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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: 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 3: 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 4: 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

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- References

No definition available.

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