Investments in Unconsolidated Entities (Tables)

6 Months Ended

Jun. 30, 2024

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Company's Share of Net Earnings or Losses and Reduced by Distributions

The table below presents the condensed balance sheet for the unconsolidated Office Joint Venture:

	June 30, 2024(1)		December 31, 2023 (2)
Assets
Real estate properties, net	$	1,074,121	$	1,092,312
Other assets	261,401		299,045
Total Assets	$	1,335,522	$	1,391,357
Liabilities
Mortgages payable, net	$	1,071,265	$	1,067,005
Other liabilities	85,370		92,919
Total Liabilities	$	1,156,635	$	1,159,924

(1)Amounts are as of March 31, 2024 due to the recording of the Office Joint Venture’s activity on a one quarter lag.

(2)Amounts are as of September 30, 2023 due to the recording of the Office Joint Venture’s activity on a one quarter lag.

The table below presents condensed statements of operations of the unconsolidated Office Joint Venture:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024 (1)		2023 (1)		2024 (2)		2023 (2)
Total revenues	$	43,181	$	49,917	$	93,387	$	94,706
Expenses:
Operating expenses	(17,062)		(16,611)		(36,520)		(32,433)
General and administrative	(2,169)		(2,174)		(3,295)		(3,655)
Depreciation and amortization	(15,647)		(18,411)		(45,557)		(33,185)
Interest expense	(28,902)		(49,990)		(60,719)		(92,982)
Other income, net	479		1,531		741		1,883
Total Expenses	(63,301)		(85,655)		(145,350)		(160,372)
Net Loss	$	(20,120)	$	(35,738)	$	(51,963)	$	(65,666)

(1)Amounts represent the period of January 1 to March 31 due to the recording of the Office Joint Venture’s activity on a one quarter lag.

(2)Amounts represent the period of October 1 to March 31 due to the recording of the Office Joint Venture’s activity on a one quarter lag.