Property Acquisitions and Consolidations

6 Months Ended

Jun. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Property Acquisitions and Consolidations

Property Acquisitions and Consolidations

Property Acquisitions

The following table summarizes the properties acquired during the six months ended June 30, 2025:

Property	Acquisition Date	Property Type	Approximate Square Feet	Gross Asset Valuation (in millions) (1)
500 Park Avenue	January 2025	Fee Interest	201,411	$	127.0

(1)Represents the gross asset valuation of the property net of closing costs and adjustments.

Property Consolidations

During the six months ended June 30, 2025, we did not consolidate any existing unconsolidated joint venture properties.

Acquisition of Subsidiary Interest from Noncontrolling Interest

In December 2024, the Company amended the 100 Park Avenue joint venture agreement with its partner. As a result of the amended terms, it was concluded that the joint venture is a VIE in which the Company is the primary beneficiary, and the investment was consolidated in our financial statements. In April 2025, pursuant to a purchase option in the amended joint venture agreement, the Company closed on the acquisition of its joint venture partner's 49.9% interest, p