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Segment Information
3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
We operate in two separate reportable business segments: ownership of properties that are primarily leased to government tenants and our equity method investment in SIR.
 
 
Three Months Ended March 31, 2017
 
 
Investment
 
Investment
 
 
 
 
 
 
in Real Estate
 
in SIR
 
Corporate
 
Consolidated
Rental income
 
$
69,296

 
$
—

 
$
—

 
$
69,296

 
 
 
 
 
 
 
 
 
Expenses:
 
 

 
 

 
 

 
 

Real estate taxes
 
8,177

 
—

 
—

 
8,177

Utility expenses
 
4,606

 
—

 
—

 
4,606

Other operating expenses
 
13,992

 
—

 
—

 
13,992

Depreciation and amortization
 
20,505

 
—

 
—

 
20,505

General and administrative
 
—

 
—

 
3,962

 
3,962

Total expenses
 
47,280

 
—

 
3,962

 
51,242

 
 
 
 
 
 
 
 
 
Operating income (loss)
 
22,016

 
—

 
(3,962
)
 
18,054

Dividend income
 
—

 
—

 
304

 
304

Interest income
 
46

 
—

 
15

 
61

Interest expense
 
(432
)
 
—

 
(13,149
)
 
(13,581
)
Income (loss) from continuing operations before
 
 

 
 

 
 

 
 

income taxes and equity in earnings of investees
 
21,630

 
—

 
(16,792
)
 
4,838

Income tax expense
 
—

 
—

 
(18
)
 
(18
)
Equity in earnings of investees
 
—

 
2,611

 
128

 
2,739

Income (loss) from continuing operations
 
21,630

 
2,611

 
(16,682
)
 
7,559

Loss from discontinued operations
 
(144
)
 
—

 
—

 
(144
)
Net income (loss)
 
$
21,486

 
$
2,611

 
$
(16,682
)
 
$
7,415

 
 
 
 
As of March 31, 2017
 
 
Investment
 
Investment
 
 
 
 
 
 
in Real Estate
 
in SIR
 
Corporate
 
Consolidated
Total Assets
 
$
1,811,545

 
$
482,103

 
$
83,402

 
$
2,377,050



 
 
 
Three Months Ended March 31, 2016
 
 
Investment
 
Investment
 
 
 
 
 
 
in Real Estate
 
in SIR
 
Corporate
 
Consolidated
Rental income 
 
$
63,611

 
$
—

 
$
—

 
$
63,611

 
 
 
 
 
 
 
 
 
Expenses:
 
 

 
 

 
 

 
 

Real estate taxes
 
7,653

 
—

 
—

 
7,653

Utility expenses
 
4,174

 
—

 
—

 
4,174

Other operating expenses
 
12,911

 
—

 
—

 
12,911

Depreciation and amortization
 
18,324

 
—

 
—

 
18,324

Acquisition related costs
 
152

 
—

 
—

 
152

General and administrative
 
—

 
—

 
3,526

 
3,526

Total expenses
 
43,214

 
—

 
3,526

 
46,740

 
 
 
 
 
 
 
 
 
Operating income (loss)
 
20,397

 
—

 
(3,526
)
 
16,871

Interest income
 
—

 
—

 
6

 
6

Interest expense
 
(1,095
)
 
—

 
(8,269
)
 
(9,364
)
Gain on early extinguishment of debt
 
104

 
—

 
—

 
104

Income (loss) from continuing operations before income
 
 

 
 

 
 

 
 

income taxes and equity in earnings of investees
 
19,406

 
—

 
(11,789
)
 
7,617

Income tax expense
 
—

 
—

 
(15
)
 
(15
)
Equity in earnings of investees
 
—

 
9,857

 
77

 
9,934

Income (loss) from continuing operations
 
19,406

 
9,857

 
(11,727
)
 
17,536

Loss from discontinued operations
 
(149
)
 
—

 
—

 
(149
)
Net income (loss)
 
$
19,257

 
$
9,857

 
$
(11,727
)
 
$
17,387

 
 
As of December 31, 2016
 
 
Investment
 
Investment
 
 
 
 
 
 
in Real Estate
 
in SIR
 
Corporate
 
Consolidated
Total Assets
 
$
1,807,560

 
$
487,708

 
$
89,798

 
$
2,385,066