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Segments - Schedule of Reconciliation of NOI to Net (Loss) Attributable to Common Stockholders (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Segment Reporting [Abstract]        
Paramount's share of NOI [1] $ 90,636 $ 79,547 $ 184,219 $ 175,748
NOI attributable to noncontrolling interests in consolidated joint ventures 23,901 22,564 46,809 45,276
Fee income 4,304 4,976 10,552 9,533
Depreciation and amortization expense (61,735) (62,627) (122,849) (121,515)
General and administrative expenses (16,632) (16,224) (33,266) (30,847)
Loss from real estate related fund investments (27) (42,644) (70) (39,094)
Loss from unconsolidated joint ventures (771) (28,402) (2,117) (34,164)
NOI from unconsolidated joint ventures [2] (5,625) (5,503) (11,227) (10,808)
Interest and other income, net 3,893 2,967 23,313 5,892
Interest and debt expense (40,004) (36,879) (80,273) (73,338)
Other, net (438) (31) (511) (337)
(Loss) income before income taxes (2,498) (82,256) 14,580 (73,654)
Income tax expense (362) (573) (709) (861)
Net (loss) income (2,860) (82,829) 13,871 (74,515)
Consolidated joint ventures (6,269) (5,351) (11,475) (10,992)
Consolidated real estate related funds 589 37,301 (173) 36,478
Operating Partnership 721 3,341 (177) 3,220
Net (loss) income attributable to common stockholders $ (7,819) $ (47,538) $ 2,046 $ (45,809)
[1] NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.
[2] Excludes NOI from One Steuart Lane, a for-sale residential condominium project, and non-core assets (Market Center and 111 Sutter Street).