Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The following tables summarize rental and other revenues and net operating income for our office properties. Net operating income is the primary industry property-level performance metric used by our chief operating decision maker and is defined as rental and other revenues less rental property and other expenses.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Rental and Other Revenues:
Atlanta	$	36,742	$	35,666	$	109,799	$	107,991
Charlotte	22,010		21,079		65,991		63,452
Nashville	40,903		42,884		126,458		130,084
Orlando	14,312		14,356		43,892		43,300
Raleigh	43,042		45,354		130,848		136,933
Richmond	8,754		8,746		26,816		27,103
Tampa	23,948		25,000		72,963		75,344
Other	14,612		14,010		43,569		42,931
Total Rental and Other Revenues	$	204,323	$	207,095	$	620,336	$	627,138

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

Net Operating Income:
Atlanta	$	22,268	$	21,796	$	67,950	$	68,289
Charlotte	15,936		16,388		47,974		47,719
Nashville	30,657		31,389		92,448		95,530
Orlando	8,850		8,734		26,840		26,358
Raleigh	31,692		32,523		95,537		99,799
Richmond	5,765		5,733		18,424		18,656
Tampa	15,309		15,574		46,131		47,614
Other	8,140		7,765		24,332		23,942
Total Net Operating Income	138,617		139,902		419,636		427,907
Reconciliation to net income:
Depreciation and amortization	(79,116)		(74,765)		(226,532)		(220,416)
General and administrative expenses	(9,898)		(8,873)		(31,754)		(30,668)
Interest expense	(37,472)		(34,247)		(109,928)		(101,408)
Other income	1,872		754		10,559		3,082
Gains on disposition of property	350		—		42,581		19,818
Gain on deconsolidation of affiliate	—		—		—		11,778
Equity in earnings of unconsolidated affiliates	1,116		400		2,890		1,902
Net income	$	15,469	$	23,171	$	107,452	$	111,995