Segment Information

We review operating and financial data for each property on an individual basis; therefore, each of our individual properties is a separate operating segment. Our reportable segments are 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 (office, multifamily, and third-party 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 real estate services business, based on the net operating income ("NOI") of properties within each segment. NOI includes property rental revenues and tenant reimbursements and deducts property operating expenses and real estate taxes.

With respect to the third-party real estate services business, the CODM reviews revenues 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 disclosed separately in the statements of operations. Management company assets primarily consist of management and leasing contracts with a net book value of $40.4 million and $45.7 million and classified in "Other assets, net" in the balance sheets as of September 30, 2018 and December 31, 2017. Consistent with internal reporting presented to our CODM and our definition of NOI, the third-party real estate services operating results are excluded from the NOI data below.

The following table reflects the reconciliation of net income (loss) attributable to common shareholders to consolidated NOI:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
	(In thousands)
Net income (loss) attributable to common shareholders	$	22,830		$	(69,831	)	$	39,214		$	(57,851	)
Add:
Depreciation and amortization expense	46,603			43,951			143,880			109,726
General and administrative expense:
Corporate and other	12,415			10,593			37,759			35,536
Third-party real estate services	20,754			21,178			64,552			30,362
Share-based compensation related to Formation Transaction	8,387			14,445			26,912			14,445
Transaction and other costs	4,126			104,095			12,134			115,173
Interest expense	18,979			15,309			56,263			43,813
Loss on extinguishment of debt	79			689			4,536			689
Reduction of gain (gain) on bargain purchase	—			(27,771		)	7,606			(27,771		)
Income tax benefit	(841		)	(1,034		)	(1,436		)	(317		)
Net (income) loss attributable to redeemable noncontrolling interests	3,552			(8,160		)	6,532			(2,481		)
Less:
Third-party real estate services, including reimbursements	23,788			25,141			72,278			38,881
Other income	1,708			1,158			4,904			3,701
Income (loss) from unconsolidated real estate ventures, net	13,484			(1,679		)	15,418			(1,365		)
Interest and other income (loss), net	4,091			(379		)	5,177			1,366
Gain on sale of real estate	11,938			—			45,789			—
Net loss attributable to noncontrolling interests	—			—			127			—
Consolidated NOI	$	81,875		$	79,223		$	254,259		$	218,741

Below is a summary of NOI by segment:



	Three Months Ended September 30, 2018
	Office		Multifamily		Other				Elimination of Intersegment Activity			Total
	(In thousands)
Rental revenue:
Property rentals	$	95,438	$	26,167	$	1,956			$	(358	)	$	123,203
Tenant reimbursements	8,036		1,563		145				—			9,744
Total rental revenue	103,474		27,730		2,101				(358		)	132,947
Rental expense:								—
Property operating	29,086		8,144		2,673				(5,736		)	34,167
Real estate taxes	12,463		3,506		936				—			16,905
Total rental expense	41,549		11,650		3,609				(5,736		)	51,072
Consolidated NOI	$	61,925	$	16,080	$	(1,508	)		$	5,378		$	81,875



	Three Months Ended September 30, 2017
	Office		Multifamily		Other			Elimination of Intersegment Activity			Total
	(In thousands)
Rental revenue:
Property rentals	$	91,534	$	23,397	$	4,171		$	(2,644	)	$	116,458
Tenant reimbursements	7,917		1,548		128			—			9,593
Total rental revenue	99,451		24,945		4,299			(2,644		)	126,051
Rental expense:
Property operating	27,000		6,796		3,502			(7,664		)	29,634
Real estate taxes	13,038		2,952		1,204			—			17,194
Total rental expense	40,038		9,748		4,706			(7,664		)	46,828
Consolidated NOI	$	59,413	$	15,197	$	(407	)	$	5,020		$	79,223



	Nine Months Ended September 30, 2018
	Office		Multifamily		Other				Elimination of Intersegment Activity			Total
	(In thousands)
Rental revenue:
Property rentals	$	294,238	$	75,644	$	6,068			$	(856	)	$	375,094
Tenant reimbursements	23,480		4,778		393				—			28,651
Total rental revenue	317,718		80,422		6,461				(856		)	403,745
Rental expense:								—
Property operating	83,666		22,844		5,416				(16,464		)	95,462
Real estate taxes	39,429		10,561		4,034				—			54,024
Total rental expense	123,095		33,405		9,450				(16,464		)	149,486
Consolidated NOI	$	194,623	$	47,017	$	(2,989	)		$	15,608		$	254,259



	Nine Months Ended September 30, 2017
	Office		Multifamily		Other				Elimination of Intersegment Activity			Total
	(In thousands)
Rental revenue:
Property rentals	$	249,532	$	62,050	$	9,623			$	(4,306	)	$	316,899
Tenant reimbursements	22,738		3,772		651				—			27,161
Total rental revenue	272,270		65,822		10,274				(4,306		)	344,060
Rental expense:								—
Property operating	71,377		16,716		11,330				(22,082		)	77,341
Real estate taxes	37,185		7,973		2,820				—			47,978
Total rental expense	108,562		24,689		14,150				(22,082		)	125,319
Consolidated NOI	$	163,708	$	41,133	$	(3,876	)		$	17,776		$	218,741

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



	Office		Multifamily		Other		Elimination of Intersegment Activity			Total
September 30, 2018	(In thousands)
Real estate, at cost	$	3,420,068	$	1,599,912	$	673,565	$	—		$	5,693,545
Investments in and advances to unconsolidated real estate ventures	211,301		105,028		44,685		—			361,014
Total assets⁽¹⁾	3,488,847		1,475,233		1,211,537		(164,423		)	6,011,194
December 31, 2017
Real estate, at cost	$	3,953,314	$	1,476,423	$	587,767	$	—		$	6,017,504
Investments in and advances to unconsolidated real estate ventures	124,659		98,835		38,317		—			261,811
Total assets⁽¹⁾	3,542,977		1,434,999		1,299,085		(205,254		)	6,071,807

^{__________________________}


⁽¹⁾	Includes assets held for sale of $137.5 million ($130.8 million in our office segment, $2.2 million in our multifamily segment and $4.5 million in our other segment) as of September 30, 2018 and $8.3 million ($1.7 million in our office segment and $6.6 million in our other segment) as of December 31, 2017.