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Segments
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segments Segments
 
The Company defines business segments by their distinct customer base and service provided.  The Company has identified four reportable segments: Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services.  Management evaluates each segment’s performance based on operating income before depreciation, amortization and minority interests.

During the year ended December 31, 2019, the Company updated the presentation of certain items in the reconciliations section in the segment disclosures by including additional detail in the reconciliation of segment income before depreciation and amortization to consolidated net income. These updates were also made in the tables below.
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
Owned Properties
 
 
 
 
 
 
 
 
Rental revenues and other income
 
$
177,488

 
$
203,903

 
$
410,299

 
$
429,104

Interest income
 
115

 
119

 
232

 
238

Total revenues from external customers
 
177,603

 
204,022

 
410,531

 
429,342

Operating expenses before depreciation, amortization, and ground/facility lease expense
 
(85,749
)
 
(90,763
)
 
(178,223
)
 
(182,932
)
Ground/facility lease expense
 
(2,639
)
 
(2,408
)
 
(5,848
)
 
(5,075
)
Interest expense, net (1)
 
(3,057
)
 
(4,014
)
 
(6,103
)
 
(8,777
)
Operating income before depreciation and amortization
 
$
86,158

 
$
106,837

 
$
220,357

 
$
232,558

Depreciation and amortization
 
$
63,511

 
$
65,628

 
$
126,754

 
$
131,132

Capital expenditures
 
$
85,621

 
$
129,833

 
$
181,832

 
$
245,352

 
 
 
 
 
 
 
 
 
On-Campus Participating Properties
 
 

 
 

 
 

 
 

Rental revenues and other income
 
$
4,101

 
$
6,396

 
$
14,810

 
$
17,844

Interest income
 
7

 
70

 
26

 
111

Total revenues from external customers
 
4,108

 
6,466

 
14,836

 
17,955

Operating expenses before depreciation, amortization, and ground/facility lease expense
 
(3,208
)
 
(3,806
)
 
(6,574
)
 
(7,763
)
Ground/facility lease expense
 
(254
)
 
(828
)
 
(1,114
)
 
(1,710
)
Interest expense, net (1)
 
(1,173
)
 
(1,311
)
 
(2,315
)
 
(2,614
)
Operating (loss) income before depreciation and amortization
 
$
(527
)
 
$
521

 
$
4,833

 
$
5,868

Depreciation and amortization
 
$
2,045

 
$
2,016

 
$
4,082

 
$
4,045

Capital expenditures
 
$
601

 
$
537

 
$
1,166

 
$
767

 
 
 
 
 
 
 
 
 
Development Services
 
 

 
 

 
 

 
 

Development and construction management fees
 
$
1,290

 
$
3,607

 
$
3,345

 
$
6,778

Operating expenses
 
(2,080
)
 
(1,985
)
 
(4,605
)
 
(4,285
)
Operating (loss) income before depreciation and amortization
 
$
(790
)
 
$
1,622

 
$
(1,260
)
 
$
2,493

 
 
 
 
 
 
 
 
 
Property Management Services
 
 

 
 

 
 

 
 

Property management fees from external customers
 
$
2,668

 
$
3,465

 
$
6,497

 
$
5,776

Operating expenses
 
(2,897
)
 
(2,528
)
 
(6,579
)
 
(4,414
)
Operating (loss) income before depreciation and amortization
 
$
(229
)
 
$
937

 
$
(82
)
 
$
1,362

 
 
 
 
 
 
 
 
 
Reconciliations
 
 

 
 

 
 

 
 

Total segment revenues and other income
 
$
185,669

 
$
217,560

 
$
435,209

 
$
459,851

Unallocated interest income earned on investments and corporate cash
 
748

 
780

 
1,463

 
1,546

Total consolidated revenues, including interest income
 
$
186,417

 
$
218,340

 
$
436,672

 
$
461,397

 
 
 
 
 
 
 
 
 
Segment income before depreciation and amortization
 
$
84,612

 
$
109,917

 
$
223,848

 
$
242,281

Segment depreciation and amortization
 
(65,556
)
 
(67,644
)
 
(130,836
)
 
(135,177
)
Corporate depreciation
 
(885
)
 
(1,171
)
 
(1,774
)
 
(2,393
)
Net unallocated expenses relating to corporate interest and overhead
 
(31,957
)
 
(29,078
)
 
(64,995
)
 
(56,622
)
(Loss) gain from disposition of real estate
 
—

 
(282
)
 
48,525

 
(282
)
Amortization of deferred financing costs
 
(1,255
)
 
(1,218
)
 
(2,542
)
 
(2,350
)
Provision for impairment
 
—

 
—

 
—

 
(3,201
)
Loss from early extinguishment of debt
 
—

 
—

 
(4,827
)
 
—

Income tax provision
 
(381
)
 
(314
)
 
(760
)
 
(678
)
Net (loss) income
 
$
(15,422
)
 
$
10,210

 
$
66,639

 
$
41,578

 
 
 
 
 
 
 
 
 

(1) 
Net of capitalized interest and amortization of debt premiums and discounts.