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Segments - Schedule of Reconciliation of NOI to Net [(Loss) Income] Attributable to Common Stockholders (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Segment Reporting [Abstract]        
Paramount's share of NOI [1] $ 89,468 $ 92,071 $ 273,687 $ 267,819
NOI attributable to noncontrolling interests in consolidated joint ventures 23,723 22,275 70,532 67,551
Fee income 6,776 4,573 17,328 14,106
Depreciation and amortization expense (60,071) (60,263) (182,920) (181,778)
General and administrative expenses (16,672) (15,460) (49,938) (46,307)
(Loss) income from real estate related fund investments (22) 2,060 (92) (37,034)
Loss from unconsolidated joint ventures (981) (28,974) (3,098) (63,138)
NOI from unconsolidated joint ventures [2] (5,384) (5,240) (16,611) (16,048)
Interest and other income, net 3,517 4,115 26,830 10,007
Interest and debt expense (43,805) (39,102) (124,078) (112,440)
Other, net (133) (853) (644) (1,190)
(Loss) income before income taxes (3,584) (24,798) 10,996 (98,452)
Income tax expense (619) (263) (1,328) (1,124)
Net (loss) income (4,203) (25,061) 9,668 (99,576)
Consolidated joint ventures (6,959) (4,887) (18,434) (15,879)
Consolidated real estate related funds 581 20,934 408 57,412
Operating Partnership 893 629 716 3,849
Net loss attributable to common stockholders $ (9,688) $ (8,385) $ (7,642) $ (54,194)
[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 include 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).