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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Total revenues $ 252,434 $ 245,777 $ 503,969 $ 490,746
Operating Expenses        
General and administrative expenses 12,281 11,488 23,741 23,059
Depreciation and amortization 101,719 95,492 199,559 191,261
Total operating expenses 206,789 190,088 405,697 380,498
Other income 4,788 7,430 9,711 14,474
Other expenses (161) (80) (266) (194)
Income from unconsolidated Fund 0 1,147 0 1,121
Interest expense (65,335) (54,955) (125,413) (110,287)
Gain from consolidation of JV 0 0 47,212 0
Net (loss) income (15,063) 9,231 29,516 15,362
Net loss attributable to noncontrolling interests 9,228 1,647 4,449 4,425
Net (loss) income attributable to common stockholders $ (5,835) $ 10,878 $ 33,965 $ 19,787
Net (loss) income per common share - basic (in usd per share) $ (0.04) $ 0.06 $ 0.20 $ 0.11
Net (loss) income per common share – diluted (in usd per share) $ (0.04) $ 0.06 $ 0.20 $ 0.11
Office rental        
Revenues        
Total revenues $ 202,810 $ 199,240 $ 404,907 $ 397,177
Operating Expenses        
Operating expenses 76,559 67,141 149,612 134,361
Office rental | Rental revenues and tenant recoveries        
Revenues        
Total revenues 172,924 171,069 345,438 340,795
Office rental | Parking and other income        
Revenues        
Total revenues 29,886 28,171 59,469 56,382
Multifamily rental        
Revenues        
Total revenues 49,624 46,537 99,062 93,569
Operating Expenses        
Operating expenses 16,230 15,967 32,785 31,817
Multifamily rental | Parking and other income        
Revenues        
Total revenues 4,254 3,884 8,496 7,696
Multifamily rental | Rental revenues        
Revenues        
Total revenues $ 45,370 $ 42,653 $ 90,566 $ 85,873