We review operating and financial data for each property on an individual basis; therefore, each of our individual properties is a separate operating segment. We defined our reportable segments to be aligned with our method of internal reporting and the way our Chief Executive Officer, who is also our Chief Operating Decision Maker ("CODM"), makes key operating decisions, evaluates financial results, allocates resources and manages our business. Accordingly, we aggregate our operating segments into three reportable segments (commercial, multifamily, and third-party asset management and real estate services) based on the economic characteristics and nature of our assets and services.

The CODM measures and evaluates the performance of our operating segments, with the exception of the third-party asset management and real estate services business, based on the net operating income ("NOI") of properties within each segment. NOI includes property rental revenue and other property revenue, and deducts property operating expenses and real estate taxes.

With respect to the third-party asset management and real estate services business, the CODM reviews revenue streams generated by this segment ("Third-party real estate services, including reimbursements"), as well as the expenses attributable to the segment ("General and administrative: third-party real estate services"), which are both disclosed separately in our statements of operations. The following represents the components of revenue from our third-party real estate services business:

(1)	Represents reimbursement of expenses incurred by us on behalf of third parties, including allocated payroll costs and amounts paid to third-party contractors for construction management projects.

Management company assets primarily consist of management and leasing contracts with a net book value of $29.9 million and $31.5 million and are classified in "Other assets, net" in our balance sheets as of March 31, 2020 and December 31, 2019. Consistent with internal reporting presented to our CODM and our definition of NOI, the third-party asset management and real estate services operating results are excluded from the NOI data below.

The following is the reconciliation of net income attributable to common shareholders to consolidated NOI:


	Three Months Ended March 31,
	2020		2019
	(In thousands)
Net income attributable to common shareholders	$	42,925	$	24,861
Add:
Depreciation and amortization expense		48,489		48,719
General and administrative expense:
Corporate and other		13,176		12,314
Third-party real estate services		28,814		28,066
Share-based compensation related to Formation Transaction and special equity awards		9,441		11,131
Transaction and other costs		5,309		4,895
Interest expense		12,005		17,174
Loss on extinguishment of debt		33		—
Income tax benefit		(2,345)		(1,172)
Net income attributable to redeemable noncontrolling interests		5,250		3,387
Less:
Third-party real estate services, including reimbursements		29,716		27,691
Other revenue ⁽¹⁾		1,630		1,640
Income (loss) from unconsolidated real estate ventures, net		(2,692)		3,601
Interest and other income, net		907		951
Gain on sale of real estate		59,477		39,033
Consolidated NOI	$	74,059	$	76,459

(1)	Excludes parking revenue of $6.4 million and $6.5 million for the three months ended March 31, 2020 and 2019.

The following is a summary of NOI by segment. Items classified in the Other column include future development assets, corporate entities and the elimination of intersegment activity.


	Three Months Ended March 31, 2020
	Commercial		Multifamily		Other		Total
	(In thousands)
Property rentals revenue	$	91,198	$	32,803	$	(3,621)	$	120,380
Other property revenue		6,244		137		—		6,381
Total property revenue		97,442		32,940		(3,621)		126,761
Property expense:
Property operating		27,943		10,307		(3,747)		34,503
Real estate taxes		12,372		4,738		1,089		18,199
Total property expense		40,315		15,045		(2,658)		52,702
Consolidated NOI	$	57,127	$	17,895	$	(963)	$	74,059


	Three Months Ended March 31, 2019
	Commercial		Multifamily		Other		Total
	(In thousands)
Property rentals revenue	$	96,247	$	28,249	$	(5,083)	$	119,413
Other property revenue		6,375		80		—		6,455
Total property revenue		102,622		28,329		(5,083)		125,868
Property expense:
Property operating		30,481		7,967		(6,274)		32,174
Real estate taxes		12,513		3,548		1,174		17,235
Total property expense		42,994		11,515		(5,100)		49,409
Consolidated NOI	$	59,628	$	16,814	$	17	$	76,459

The following is a summary of certain balance sheet data by segment:


	Commercial		Multifamily		Other		Total
	(In thousands)
March 31, 2020
Real estate, at cost	$	3,450,039	$	2,016,514	$	384,980	$	5,851,533
Investments in unconsolidated real estate ventures		398,849		107,162		36,972		542,983
Total assets ⁽¹⁾		3,570,707		1,697,302		871,804		6,139,813
December 31, 2019
Real estate, at cost	$	3,415,294	$	1,998,297	$	361,928	$	5,775,519
Investments in unconsolidated real estate ventures		396,199		107,882		38,945		543,026
Total assets⁽¹⁾		3,361,122		1,682,872		942,257		5,986,251

(1)	Includes assets held for sale. See Note 3 for additional information.