Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.7.0.1
Segment Information (Tables)
6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Reconciliation of Net Operating Income of Reportable Segments
The following tables present revenues, net operating income, capital expenditures and total assets for the three and six months ended June 30, 2017 and 2016 from these segments, and reconcile net operating income of reportable segments to net income attributable to the controlling interests as reported (in thousands):
 
Three Months Ended June 30, 2017
 
Office
 
Retail
 
Multifamily
 
Corporate and Other
 
Consolidated
Real estate rental revenue
$
44,109

 
$
15,512

 
$
23,835

 
$

 
$
83,456

Real estate expenses
15,853

 
3,597

 
9,241

 

 
28,691

Net operating income
$
28,256

 
$
11,915

 
$
14,594

 
$

 
$
54,765

Depreciation and amortization
 
 
 
 
 
 
 
 
(29,261
)
General and administrative
 
 
 
 
 
 
 
 
(5,759
)
Interest expense
 
 
 
 
 
 
 
 
(12,053
)
Other income
 
 
 
 
 
 
 
 
48

Income tax benefit
 
 
 
 
 
 
 
 
107

Net income
 
 
 
 
 
 
 
 
7,847

Less: Net loss attributable to noncontrolling interests in subsidiaries
 
 
 
 
 
 
 
 
17

Net income attributable to the controlling interests
 
 
 
 
 
 
 
 
$
7,864

Capital expenditures
$
5,864

 
$
62

 
$
6,561

 
$
1,375

 
$
13,862

Total assets
$
1,241,618

 
$
344,523

 
$
766,972

 
$
34,999

 
$
2,388,112

 
Three Months Ended June 30, 2016
 
Office
 
Retail
 
Multifamily
 
Corporate
and Other
 
Consolidated
Real estate rental revenue
$
43,737

 
$
15,080

 
$
20,588

 
$

 
$
79,405

Real estate expenses
16,594

 
3,684

 
7,897

 

 
28,175

Net operating income
$
27,143

 
$
11,396

 
$
12,691

 
$

 
$
51,230

Depreciation and amortization
 
 
 
 
 
 
 
 
(25,161
)
Acquisition costs
 
 
 
 
 
 
 
 
(1,024
)
General and administrative
 
 
 
 
 
 
 
 
(4,968
)
Interest expense
 
 
 
 
 
 
 
 
(13,820
)
Other income
 
 
 
 
 
 
 
 
83

Gain on sale of real estate
 
 
 
 
 
 
 
 
24,112

Income tax benefit
 
 
 
 
 
 
 
 
693

Casualty gain
 
 
 
 
 
 
 
 
676

Net income
 
 
 
 
 
 
 
 
31,821

Less: Net loss attributable to noncontrolling interests in subsidiaries
 
 
 
 
 
 
 
 
15

Net income attributable to the controlling interests
 
 
 
 
 
 
 
 
$
31,836

Capital expenditures
$
5,854

 
$
3,588

 
$
2,198

 
$
29

 
$
11,669

Total assets
$
1,151,041

 
$
352,094

 
$
769,592

 
$
33,724

 
$
2,306,451


 
Six Months Ended June 30, 2017
 
Office
 
Retail
 
Multifamily
 
Corporate
and Other
 
Consolidated
Real estate rental revenue
$
82,136

 
$
31,217

 
$
47,604

 
$

 
$
160,957

Real estate expenses
30,267

 
7,460

 
18,827

 

 
56,554

Net operating income
$
51,869

 
$
23,757

 
$
28,777

 
$

 
$
104,403

Depreciation and amortization
 
 
 
 
 
 
 
 
(55,330
)
General and administrative
 
 
 
 
 
 
 
 
(11,385
)
Interest expense
 
 
 
 
 
 
 
 
(23,458
)
Other income
 
 
 
 
 
 
 
 
125

Income tax benefit
 
 
 
 
 
 
 
 
107

Net income
 
 
 
 
 
 
 
 
14,462

Less: Net loss attributable to noncontrolling interests in subsidiaries
 
 
 
 
 
 
 
 
36

Net income attributable to the controlling interests
 
 
 
 
 
 
 
 
$
14,498

Capital expenditures
$
10,819

 
$
246

 
$
12,858

 
$
1,950

 
$
25,873

 
Six Months Ended June 30, 2016
 
Office
 
Retail
 
Multifamily
 
Corporate
and Other
 
Consolidated
Real estate rental revenue
$
87,555

 
30,460

 
$
38,527

 
$

 
$
156,542

Real estate expenses
33,669

 
8,090

 
15,150

 

 
56,909

Net operating income
53,886

 
$
22,370

 
$
23,377

 
$

 
$
99,633

Depreciation and amortization
 
 
 
 
 
 
 
 
(51,199
)
Acquisition costs
 
 
 
 
 
 
 
 
(1,178
)
General and administrative
 
 
 
 
 
 
 
 
(10,479
)
Interest expense
 
 
 
 
 
 
 
 
(28,180
)
Other income
 
 
 
 
 
 
 
 
122

Gain on sale of real estate
 
 
 
 
 
 
 
 
24,112

Income tax benefit
 
 
 
 
 
 
 
 
693

Casualty gain
 
 
 
 
 
 
 
 
676

Net income
 
 
 
 
 
 
 
 
34,200

Less: Net loss attributable to noncontrolling interests in subsidiaries
 
 
 
 
 
 
 
 
20

Net income attributable to the controlling interests
 
 
 
 
 
 
 
 
$
34,220

Capital expenditures
$
8,025

 
$
4,131

 
$
4,200

 
$
42

 
$
16,398