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SEGMENT DISCLOSURE (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Segment Net Operating Income | The net operating income of our segments for the three and six months ended June 30, 2019 and 2018 is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
|  | (in thousands)
Office: |  |  |  |  |  |  |  |  |
Revenues |  | $ | 22,050 |  |  | $ | 37,889 |  |  | $ | 55,495 |  |  | $ | 72,701 |
Property expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating |  | 8,913 |  |  | 13,928 |  |  | 22,472 |  |  | 25,311 |
General and administrative |  | 202 |  |  | 98 |  |  | 356 |  |  | 979 |
Total property expenses |  | 9,115 |  |  | 14,026 |  |  | 22,828 |  |  | 26,290 |
Segment net operating income—office |  | 12,935 |  |  | 23,863 |  |  | 32,667 |  |  | 46,411 |
Hotel: |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | 10,330 |  |  | 10,947 |  |  | 20,919 |  |  | 21,438 |
Property expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating |  | 6,745 |  |  | 6,837 |  |  | 13,439 |  |  | 13,370 |
General and administrative |  | 63 |  |  | — |  |  | 77 |  |  | 18 |
Total property expenses |  | 6,808 |  |  | 6,837 |  |  | 13,516 |  |  | 13,388 |
Segment net operating income—hotel |  | 3,522 |  |  | 4,110 |  |  | 7,403 |  |  | 8,050 |
Lending: |  |  |  |  |  |  |  |
Revenues |  | 2,977 |  |  | 2,708 |  |  | 5,901 |  |  | 5,699 |
Lending expenses: |  |  |  |  |  |  |  |  |  |
Interest expense |  | 536 |  |  | 300 |  |  | 1,118 |  |  | 484 |
Fees to related party |  | 551 |  |  | 639 |  |  | 1,188 |  |  | 1,240 |
General and administrative |  | 335 |  |  | 390 |  |  | 838 |  |  | 859 |
Total lending expenses |  | 1,422 |  |  | 1,329 |  |  | 3,144 |  |  | 2,583 |
Segment net operating income—lending |  | 1,555 |  |  | 1,379 |  |  | 2,757 |  |  | 3,116 |
Total segment net operating income |  | $ | 18,012 |  |  | $ | 29,352 |  |  | $ | 42,827 |  |  | $ | 57,577 |
Reconciliation of Segment Net Operating Income to Net Income Attributable to the Company | A reconciliation of our segment net operating income to net income attributable to the Company for the three and six months ended June 30, 2019 and 2018 is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
|  | (in thousands)
Total segment net operating income |  | $ | 18,012 |  |  | $ | 29,352 |  |  | $ | 42,827 |  |  | $ | 57,577 |
Interest and other income |  | 1,499 |  |  | — |  |  | 1,818 |  |  | — |
Asset management and other fees to related parties |  | (3,737 | ) |  | (5,504 | ) |  | (8,986 | ) |  | (11,114 | )
Interest expense |  | (2,014 | ) |  | (6,511 | ) |  | (5,477 | ) |  | (12,960 | )
General and administrative |  | (1,021 | ) |  | (1,427 | ) |  | (2,138 | ) |  | (3,435 | )
Transaction costs |  | (216 | ) |  | (344 | ) |  | (260 | ) |  | (344 | )
Depreciation and amortization |  | (7,185 | ) |  | (13,325 | ) |  | (16,815 | ) |  | (26,473 | )
Loss on early extinguishment of debt |  | (4,911 | ) |  | — |  |  | (29,982 | ) |  | — |
Impairment of real estate |  | (2,800 | ) |  | — |  |  | (69,000 | ) |  | — |
Gain on sale of real estate |  | 55,221 |  |  | — |  |  | 432,802 |  |  | — |
Income before provision for income taxes |  | 52,848 |  |  | 2,241 |  |  | 344,789 |  |  | 3,251 |
Provision for income taxes |  | (281 | ) |  | (292 | ) |  | (599 | ) |  | (680 | )
Net income |  | 52,567 |  |  | 1,949 |  |  | 344,190 |  |  | 2,571 |
Net (income) loss attributable to noncontrolling interests |  | (1 | ) |  | (12 | ) |  | 173 |  |  | (16 | )
Net income attributable to the Company |  | $ | 52,566 |  |  | $ | 1,937 |  |  | $ | 344,363 |  |  | $ | 2,555 |
Segment Condensed Assets | The condensed assets for each of the segments as of June 30, 2019 and December 31, 2018, along with capital expenditures and loan originations for the six months ended June 30, 2019 and 2018, are as follows:
|  | June 30, 2019 |  | December 31, 2018
|  | (in thousands)
Condensed assets: |  |  |  |  |  |
Office (1) |  | $ | 643,226 |  |  | $ | 1,094,269 |
Hotel |  | 107,042 |  |  | 105,845 |
Lending |  | 85,873 |  |  | 97,465 |
Non-segment assets |  | 360,362 |  |  | 44,822 |
Total assets |  | $ | 1,196,503 |  |  | $ | 1,342,401 |
Segment Capital Expenditures |
|  | Six Months Ended June 30,
|  | 2019 |  | 2018
|  | (in thousands)
Capital expenditures (2): |  |  |  |  |  |
Office (1) |  | $ | 4,363 |  |  | $ | 10,040 |
Hotel |  | 1,157 |  |  | 824 |
Total capital expenditures |  | 5,520 |  |  | 10,864 |
Loan originations |  | 18,523 |  |  | 28,460 |
Total capital expenditures and loan originations |  | $ | 24,043 |  |  | $ | 39,324 |
(1) | The June 30, 2019 balances include the assets of 899, 999 and 901 N Capitol Street, which are classified as held for sale on our consolidated balance sheet at June 30, 2019 (Note 3). The December 31, 2018 balances include the assets of 260 Townsend Street, which was classified as held for sale on our consolidated balance sheet at December 31, 2018 (Note 3).
(2) | Represents additions and improvements to real estate investments, excluding acquisitions. Includes the activity for dispositions through their respective disposition dates.

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