v3.25.1
Real Estate Properties (Tables)
 3 Months Ended
Mar. 31, 2025
Real Estate [Abstract]  
Disposal Groups, Including Discontinued Operations The sales of these properties, as presented in the table below, do not represent a strategic shift in our business. As a result, the results of operations of these properties are included in continuing operations through the date of sale in our condensed consolidated statements of comprehensive income (loss).
Date of Sale Number of PropertiesLocationRentable Square Feet
Gross Sales Price (1)
Gain (Loss) on Sale of Real Estate
February 20251Parsippany, NJ100,000 $5,750 $(4,779)
February 20252Santa Clara, CA149,000 21,150 42 
3249,000 $26,900 $(4,737)
(1)Gross sales price is the contract price, excluding closing costs.
As of March 31, 2025, we had three properties classified as held for sale in our condensed consolidated balance sheet. As of April 29, 2025, we had three properties, including two properties classified as held for sale, under agreement to sell for an aggregate sales price of $28,863, excluding closing costs, as summarized below:
Date of Sale AgreementNumber of PropertiesLocationRentable Square Feet
Gross Sales Price (1)
October 20242Tempe, AZ101,000 $10,738 
December 20241
Reston, VA (2)
275,000 18,125 
3376,000 $28,863 
(1)Gross sales price is the contract price, excluding closing costs.
(2)Property did not meet held for sale criteria as of March 31, 2025.
Schedule of Joint Ventures
As of March 31, 2025 and December 31, 2024, our investment in our unconsolidated joint venture is as follows:
OPI Carrying Value of Investment at
Joint VentureOPI OwnershipMarch 31, 2025December 31, 2024Number of PropertiesLocationRentable Square Feet
Prosperity Metro Plaza51%$17,118 $17,370 2Fairfax, VA346 
As of March 31, 2025 and December 31, 2024, the mortgage debt of our unconsolidated joint venture is as follows:
Joint Venture
 Interest Rate (1)
Maturity Date
Principal Balance at March 31, 2025 (2)
Principal Balance at December 31, 2024 (2)
Prosperity Metro Plaza4.09%12/1/2029$49,780 $50,000 
(1)Includes the effect of mark to market purchase accounting.
(2)Reflects the entire balance of the debt secured by the properties and is not adjusted to reflect the interest in the joint venture we did not own. None of the debt is recourse to us.