XML 75 R68.htm IDEA: XBRL DOCUMENT v3.24.2
Variable Interest Entities ("VIEs") - Summary of Assets and Liabilities of Consolidated Variable Interest Entities (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2022
Variable Interest Entity [Line Items]        
Real estate, net $ 6,692,243 $ 6,744,797    
Cash and cash equivalents and restricted cash 472,100 509,599 $ 507,431 $ 449,817
Accounts and other receivables 13,917 18,053    
Real estate related fund investments 0 775    
Deferred rent receivable 353,769 351,209    
Deferred charges, net 105,812 108,751    
Intangible assets, net 57,612 68,005    
Other assets 71,788 68,238    
Total assets [1] 7,901,864 8,006,215    
Notes and mortgages payable, net 3,672,103 3,803,484    
Accounts payable and accrued expenses 110,789 114,463    
Intangible liabilities, net 24,125 28,003    
Other liabilities 30,802 37,017    
Total liabilities [1] 3,846,201 3,991,327    
Variable Interest Entities [Member]        
Variable Interest Entity [Line Items]        
Real estate, net 3,241,357 3,284,532    
Cash and cash equivalents and restricted cash 211,328 176,354    
Accounts and other receivables 8,764 10,005    
Real estate related fund investments 0 775    
Investments in unconsolidated joint ventures 88,050 89,949    
Deferred rent receivable 202,548 207,938    
Deferred charges, net 41,580 45,190    
Intangible assets, net 32,588 38,209    
Other assets 12,035 7,374    
Total assets 3,838,250 3,860,326    
Notes and mortgages payable, net 2,317,687 2,450,401    
Accounts payable and accrued expenses 53,763 48,952    
Intangible liabilities, net 14,803 17,180    
Other liabilities 5,924 5,852    
Total liabilities $ 2,392,177 $ 2,522,385    
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 91.5% as of June 30, 2024. As of June 30, 2024, the assets and liabilities of the Operating Partnership include $3,838,250 and $2,392,177 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (VIEs).