Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.10.0.1
Segment Information (Tables)
9 Months Ended
Sep. 30, 2018
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 nine months ended September 30, 2018 and 2017 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 September 30, 2018
 
Office
 
Retail
 
Multifamily
 
Corporate and Other
 
Consolidated
Real estate rental revenue
$
42,438

 
$
16,111

 
$
23,953

 
$

 
$
82,502

Real estate expenses
15,368

 
3,906

 
9,297

 

 
28,571

Net operating income
$
27,070

 
$
12,205

 
$
14,656

 
$

 
$
53,931

Depreciation and amortization
 
 
 
 
 
 
 
 
(30,272
)
General and administrative
 
 
 
 
 
 
 
 
(5,267
)
Interest expense
 
 
 
 
 
 
 
 
(12,499
)
Net income
 
 
 
 
 
 
 
 
5,893

Less: Net loss attributable to noncontrolling interests in subsidiaries
 
 
 
 
 
 
 
 

Net income attributable to the controlling interests
 
 
 
 
 
 
 
 
$
5,893

Capital expenditures
$
8,537

 
$
1,098

 
$
5,708

 
$
161

 
$
15,504

Total assets
$
1,246,026

 
$
344,358

 
$
785,397

 
$
40,736

 
$
2,416,517

 
Three Months Ended September 30, 2017
 
Office
 
Retail
 
Multifamily
 
Corporate
and Other
 
Consolidated
Real estate rental revenue
$
42,982

 
$
15,604

 
$
24,233

 
$

 
$
82,819

Real estate expenses
16,246

 
3,687

 
9,713

 

 
29,646

Net operating income
$
26,736

 
$
11,917

 
$
14,520

 
$

 
$
53,173

Depreciation and amortization
 
 
 
 
 
 
 
 
(27,941
)
General and administrative
 
 
 
 
 
 
 
 
(5,327
)
Interest expense
 
 
 
 
 
 
 
 
(12,176
)
Other income
 
 
 
 
 
 
 
 
84

Real estate impairment
 
 
 
 
 
 
 
 
(5,000
)
Net income
 
 
 
 
 
 
 
 
2,813

Less: Net loss attributable to noncontrolling interests in subsidiaries
 
 
 
 
 
 
 
 
20

Net income attributable to the controlling interests
 
 
 
 
 
 
 
 
$
2,833

Capital expenditures
$
5,934

 
$
305

 
$
5,024

 
$
1,356

 
$
12,619

Total assets
$
1,231,576

 
$
346,374

 
$
769,873

 
$
36,471

 
$
2,384,294


 
Nine Months Ended September 30, 2018
 
Office
 
Retail
 
Multifamily
 
Corporate
and Other
 
Consolidated
Real estate rental revenue
$
135,258

 
$
47,563

 
$
71,168

 
$

 
$
253,989

Real estate expenses
48,031

 
11,932

 
28,012

 

 
87,975

Net operating income
$
87,227

 
$
35,631

 
$
43,156

 
$

 
$
166,014

Depreciation and amortization
 
 
 
 
 
 
 
 
(90,119
)
General and administrative
 
 
 
 
 
 
 
 
(16,737
)
Interest expense
 
 
 
 
 
 
 
 
(38,647
)
Real estate impairment
 
 
 
 
 
 
 
 
(1,886
)
Gain on sale of real estate
 
 
 
 
 
 
 
 
2,495

Loss on extinguishment of debt
 
 
 
 
 
 
 
 
(1,178
)
Net income
 
 
 
 
 
 
 
 
19,942

Less: Net loss attributable to noncontrolling interests in subsidiaries
 
 
 
 
 
 
 
 

Net income attributable to the controlling interests
 
 
 
 
 
 
 
 
$
19,942

Capital expenditures
$
17,926

 
$
2,443

 
$
13,068

 
$
626

 
$
34,063

 
Nine Months Ended September 30, 2017
 
Office
 
Retail
 
Multifamily
 
Corporate
and Other
 
Consolidated
Real estate rental revenue
$
125,118

 
46,821

 
$
71,837

 
$

 
$
243,776

Real estate expenses
46,513

 
11,147

 
28,540

 

 
86,200

Net operating income
$
78,605

 
$
35,674

 
$
43,297

 
$

 
$
157,576

Depreciation and amortization
 
 
 
 
 
 
 
 
(83,271
)
General and administrative
 
 
 
 
 
 
 
 
(16,712
)
Interest expense
 
 
 
 
 
 
 
 
(35,634
)
Other income
 
 
 
 
 
 
 
 
209

Real estate impairment
 
 
 
 
 
 
 
 
(5,000
)
Income tax benefit
 
 
 
 
 
 
 
 
107

Net income
 
 
 
 
 
 
 
 
17,275

Less: Net loss attributable to noncontrolling interests in subsidiaries
 
 
 
 
 
 
 
 
56

Net income attributable to the controlling interests
 
 
 
 
 
 
 
 
$
17,331

Capital expenditures
$
16,753

 
$
551

 
$
17,882

 
$
3,306

 
$
38,492