Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment information

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

	Year Ended December 31,
	2018			2017			2016
	(In thousands)
Net income (loss) attributable to common shareholders	$	39,924		$	(71,753	)	$	61,974
Add:
Depreciation and amortization expense	211,436			161,659			133,343
General and administrative expense:
Corporate and other	33,728			39,350			48,753
Third-party real estate services	89,826			51,919			19,066
Share-based compensation related to Formation Transaction and special equity awards	36,030			29,251			—
Transaction and other costs	27,706			127,739			6,476
Interest expense	74,447			58,141			51,781
Loss on extinguishment of debt	5,153			701			—
Reduction of gain (gain) on bargain purchase	7,606			(24,376		)	—
Income tax expense (benefit)	(738		)	(9,912		)	1,083
Net (income) loss attributable to redeemable noncontrolling interests	6,710			(7,328		)	—
Less:
Third-party real estate services, including reimbursements	98,699			63,236			33,882
Other income	6,358			5,167			5,381
Income (loss) from unconsolidated real estate ventures, net	39,409			(4,143		)	(947		)
Interest and other income, net	15,168			1,788			2,992
Gain on sale of real estate	52,183			—			—
Net loss attributable to noncontrolling interests	21			3			—
Consolidated NOI	$	319,990		$	289,340		$	281,168

Below is a summary of NOI by segment. Items classified in other include future development assets, corporate entities and the elimination of intersegment activity.

	Year Ended December 31, 2018
	Commercial		Multifamily		Other				Total
	(In thousands)
Rental revenue:
Property rentals	$	395,089	$	102,617	$	2,129			$	499,835
Tenant reimbursements	34,953		6,740		(2,403		)		39,290
Total rental revenue	430,042		109,357		(274		)		539,125
Rental expense:								—
Property operating	118,288		31,502		(1,709		)		148,081
Real estate taxes	53,324		14,280		3,450				71,054
Total rental expense	171,612		45,782		1,741				219,135
Consolidated NOI	$	258,430	$	63,575	$	(2,015	)		$	319,990

	Year Ended December 31, 2017
	Commercial		Multifamily		Other			Total
	(In thousands)
Rental revenue:
Property rentals	$	351,517	$	86,439	$	(1,331	)	$	436,625
Tenant reimbursements	32,380		5,130		475			37,985
Total rental revenue	383,897		91,569		(856		)	474,610
Rental expense:
Property operating	97,701		24,623		(3,488		)	118,836
Real estate taxes	50,546		11,030		4,858			66,434
Total rental expense	148,247		35,653		1,370			185,270
Consolidated NOI	$	235,650	$	55,916	$	(2,226	)	$	289,340

	Year Ended December 31, 2016
	Commercial		Multifamily		Other				Total
	(In thousands)
Rental revenue:
Property rentals	$	323,133	$	63,401	$	15,061			$	401,595
Tenant reimbursements	33,361		3,454		846				37,661
Total rental revenue	356,494		66,855		15,907				439,256
Rental expense:								—
Property operating	91,148		17,238		(8,082		)		100,304
Real estate taxes	46,115		6,993		4,676				57,784
Total rental expense	137,263		24,231		(3,406		)		158,088
Consolidated NOI	$	219,231	$	42,624	$	19,313			$	281,168

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

	Commercial		Multifamily		Other		Total
December 31, 2018	(In thousands)
Real estate, at cost	$	3,634,472	$	1,656,974	$	501,288	$	5,792,734
Investments in and advances to unconsolidated real   estate ventures	177,173		109,232		36,473		322,878
Total assets (1)	3,707,255		1,528,177		761,853		5,997,285
December 31, 2017
Real estate, at cost	$	4,023,544	$	1,480,812	$	513,148	$	6,017,504
Investments in and advances to unconsolidated real   estate ventures	134,138		98,835		28,838		261,811
Total assets (1)	3,612,947		1,403,452		1,055,408		6,071,807

^{__________________________} 

⁽¹⁾  Includes assets held for sale. See Note 4 for additional information.