Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Reconciliation of NOI to net income available to common stockholders

Information on the Company's segments along with a reconciliation of NOI to net income for the three and nine months ended September 30, 2019 and 2018 are as follows (in thousands):

Three Months Ended September 30, 2019	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	38,926	$	—	$	38,926
Austin	29,452		—		29,452
Charlotte	21,692		—		21,692
Dallas	3,416		—		3,416
Phoenix	8,913		—		8,913
Tampa	8,309		—		8,309
Other	9,266		668		9,934
Total Net Operating Income	$	119,974	$	668	$	120,642

Three Months Ended September 30, 2018	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	32,296	$	—	$	32,296
Austin	15,180		—		15,180
Charlotte	15,924		—		15,924
Phoenix	9,265		—		9,265
Tampa	7,446		—		7,446
Other	310		437		747
Total Net Operating Income	$	80,421	$	437	$	80,858

Nine Months Ended September 30, 2019	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	115,692	$	—	$	115,692
Austin	63,977		—		63,977
Charlotte	55,550		—		55,550
Dallas	4,086		—		4,086
Phoenix	27,694		—		27,694
Tampa	24,869		—		24,869
Other	11,678		2,244		13,922
Total Net Operating Income	$	303,546	$	2,244	$	305,790

Nine Months Ended September 30, 2018	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	96,639	$	—	$	96,639
Austin	45,209		—		45,209
Charlotte	47,197		—		47,197
Phoenix	27,119		—		27,119
Tampa	22,816		—		22,816
Other	1,183		1,468		2,651
Total Net Operating Income	$	240,163	$	1,468	$	241,631

The following reconciles Net Operating Income to Net Income for each of the periods presented (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Net Operating Income	$	120,642		$	80,858		$	305,790		$	241,631
Net operating income from unconsolidated joint ventures	(9,037		)	(6,994		)	(26,289		)	(21,643		)
Fee income	7,494			2,519			23,298			7,211
Termination fee income	3,575			276			4,285			1,275
Other income	3			468			154			1,561
Reimbursed expenses	(1,290		)	(955		)	(3,269		)	(2,757		)
General and administrative expenses	(5,852		)	(3,913		)	(25,686		)	(18,793		)
Interest expense	(14,700		)	(9,551		)	(37,579		)	(29,043		)
Depreciation and amortization	(82,012		)	(45,068		)	(178,777		)	(135,836		)
Acquisition and transaction costs	(1,048		)	—			(50,878		)	(228		)
Other expenses	(297		)	(93		)	(1,101		)	(457		)
Income from unconsolidated joint ventures	3,241			2,252			9,779			10,173
Gain (loss) on sale of investment properties	(27		)	(33		)	14,388			4,912
Gain on extinguishment of debt	—			93			—			8
Net Income	$	20,692		$	19,859		$	34,115		$	58,014

Reconciliation of revenue from segments to consolidated

Revenues by reportable segment, including a reconciliation to total rental property revenues on the condensed consolidated statements of operations, for three and nine months ended September 30, 2019 and 2018 are as follows (in thousands):

Three Months Ended September 30, 2019	Office			Mixed-Use			Total
Revenues:
Atlanta	$	60,486		$	—		$	60,486
Austin	50,614			—			50,614
Charlotte	34,762			—			34,762
Dallas	4,274			—			4,274
Phoenix	12,754			—			12,754
Tampa	14,335			—			14,335
Other	17,290			1,101			18,391
Total segment revenues	194,515			1,101			195,616
Less Company's share of rental property revenues from unconsolidated joint ventures	(13,689		)	(1,101		)	(14,790		)
Total rental property revenues	$	180,826		$	—		$	180,826

Three Months Ended September 30, 2018	Office			Mixed-Use			Total
Revenues:
Atlanta	$	51,248		$	—		$	51,248
Austin	26,493			—			26,493
Charlotte	23,274			—			23,274
Tampa	12,857			—			12,857
Phoenix	12,228			—			12,228
Other	1,104			429			1,533
Total segment revenues	127,204			429			127,633
Less Company's share of rental property revenues from unconsolidated joint ventures	(11,485		)	(429		)	(11,914		)
Total rental property revenues	$	115,719		$	—		$	115,719

Nine Months Ended September 30, 2019	Office			Mixed-Use			Total
Revenues:
Atlanta	$	177,455		$	—		$	177,455
Austin	110,521			—			110,521
Charlotte	85,258			—			85,258
Dallas	5,078			—			5,078
Phoenix	38,562			—			38,562
Tampa	40,776			—			40,776
Other	21,416			3,378			24,794
Total segment revenues	479,066			3,378			482,444
Less Company's share of rental property revenues from unconsolidated joint ventures	(39,442		)	(3,378		)	(42,820		)
Total rental property revenues	$	439,624		$	—		$	439,624

Nine Months Ended September 30, 2018	Office			Mixed-Use			Total
Revenues:
Atlanta	$	151,479		$	—		$	151,479
Austin	79,516			—			79,516
Charlotte	69,316			—			69,316
Tampa	37,556			—			37,556
Phoenix	37,147			—			37,147
Other	3,238			997			4,235
Total segment revenues	378,252			997			379,249
Less Company's share of rental property revenues from unconsolidated joint ventures	(34,488		)	(997		)	(35,485		)
Total rental property revenues	$	343,764		$	—		$	343,764