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SEGMENT DISCLOSURE (Tables) | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Schedule of Segment Net Operating Income (Loss) | The net operating income (loss) of our segments for the three and nine months ended September 30, 2020 and 2019 is as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (in thousands)
Office: |  |  |  |  |  |  |  |
Revenues |  | $ | 13,529 |  |  | $ | 16,885 |  |  | $ | 42,189 |  |  | $ | 72,380 |
Property expenses: |  |  |  |  |  |  |  |
Operating |  | 6,026 |  |  | 7,205 |  |  | 17,338 |  |  | 29,677 |
General and administrative |  | 61 |  |  | 41 |  |  | 397 |  |  | 397 |
Total property expenses |  | 6,087 |  |  | 7,246 |  |  | 17,735 |  |  | 30,074 |
Segment net operating income—office |  | 7,442 |  |  | 9,639 |  |  | 24,454 |  |  | 42,306 |
Hotel: |  |  |  |  |  |  |  |
Revenues |  | 1,762 |  |  | 8,511 |  |  | 11,129 |  |  | 29,430 |
Property expenses: |  |  |  |  |  |  |  |
Operating |  | 2,796 |  |  | 6,081 |  |  | 11,491 |  |  | 19,520 |
General and administrative |  | 35 |  |  | 31 |  |  | 54 |  |  | 108 |
Total property expenses |  | 2,831 |  |  | 6,112 |  |  | 11,545 |  |  | 19,628 |
Segment net operating (loss) income—hotel |  | (1,069) |  |  | 2,399 |  |  | (416) |  |  | 9,802 |
Lending: |  |  |  |  |  |  |  |
Revenues |  | 1,981 |  |  | 2,411 |  |  | 5,963 |  |  | 8,312 |
Lending expenses: |  |  |  |  |  |  |  |
Interest expense |  | 170 |  |  | 365 |  |  | 650 |  |  | 1,483 |
Expense reimbursements to related parties |  | 901 |  |  | 652 |  |  | 2,581 |  |  | 1,840 |
General and administrative |  | 641 |  |  | 505 |  |  | 1,562 |  |  | 1,343 |
Total lending expenses |  | 1,712 |  |  | 1,522 |  |  | 4,793 |  |  | 4,666 |
Segment net operating income—lending |  | 269 |  |  | 889 |  |  | 1,170 |  |  | 3,646 |
Total segment net operating income |  | $ | 6,642 |  |  | $ | 12,927 |  |  | $ | 25,208 |  |  | $ | 55,754 |
Schedule of 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 nine months ended September 30, 2020 and 2019 is as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (in thousands)
Total segment net operating income |  | $ | 6,642 |  |  | $ | 12,927 |  |  | $ | 25,208 |  |  | $ | 55,754 |
Interest and other income |  | 62 |  |  | 1,408 |  |  | 98 |  |  | 3,226 |
Asset management and other fees to related parties |  | (2,387) |  |  | (2,699) |  |  | (7,408) |  |  | (10,496) |
Expense reimbursements to related parties—corporate |  | (639) |  |  | (630) |  |  | (2,066) |  |  | (1,819) |
Interest expense |  | (2,473) |  |  | (2,038) |  |  | (8,056) |  |  | (7,515) |
General and administrative |  | (999) |  |  | (807) |  |  | (3,125) |  |  | (2,945) |
Transaction costs |  | — |  |  | (340) |  |  | — |  |  | (600) |
Depreciation and amortization |  | (5,273) |  |  | (5,180) |  |  | (15,728) |  |  | (21,995) |
Loss on early extinguishment of debt |  | (281) |  |  | — |  |  | (281) |  |  | (29,982) |
Impairment of real estate |  | — |  |  | — |  |  | — |  |  | (69,000) |
Gain on sale of real estate |  | — |  |  | 302 |  |  | — |  |  | 433,104 |
(Loss) income before benefit (provision) for income taxes |  | (5,348) |  |  | 2,943 |  |  | (11,358) |  |  | 347,732 |
Benefit (provision) for income taxes |  | 18 |  |  | (87) |  |  | 731 |  |  | (686) |
Net (loss) income |  | (5,330) |  |  | 2,856 |  |  | (10,627) |  |  | 347,046 |
Net loss (income) attributable to noncontrolling interests |  | 7 |  |  | (8) |  |  | 1 |  |  | 165 |
Net (loss) income attributable to the Company |  | $ | (5,323) |  |  | $ | 2,848 |  |  | $ | (10,626) |  |  | $ | 347,211 |
Schedule of Segment Condensed Assets | The condensed assets for each of the segments as of September 30, 2020 and December 31, 2019, along with capital expenditures and loan originations for the nine months ended September 30, 2020 and 2019, are as follows:
|  | September 30, 2020 |  | December 31, 2019
|  | (in thousands)
Condensed assets: |  |  |  |
Office |  | $ | 468,858 |  |  | $ | 460,951 |
Hotel |  | 101,234 |  |  | 104,029 |
Lending |  | 103,577 |  |  | 82,140 |
Non-segment assets |  | 14,444 |  |  | 20,472 |
Total assets |  | $ | 688,113 |  |  | $ | 667,592 |
Schedule of Segment Capital Expenditures and Loan Originations |
|  | Nine Months Ended September 30,
|  | 2020 |  | 2019
|  | (in thousands)
Capital expenditures (1): |  |  |  |
Office |  | $ | 7,793 |  |  | $ | 9,500 |
Hotel |  | 801 |  |  | 1,846 |
Total capital expenditures |  | 8,594 |  |  | 11,346 |
Loan originations |  | 48,179 |  |  | 27,421 |
Total capital expenditures and loan originations |  | $ | 56,773 |  |  | $ | 38,767 |
(1)Represents additions and improvements to real estate investments, excluding acquisitions. Includes the activity for dispositions through their respective disposition dates.

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