v3.25.1
Segments - Schedule of Reconciliation of NOI to Net (Loss) Income Attributable to Common Stockholders (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting [Abstract]    
Paramount's share of NOI [1] $ 86,788 $ 93,583
NOI attributable to noncontrolling interests in consolidated joint ventures 22,083 22,908
Fee income 5,025 6,248
Depreciation and amortization (58,879) (61,114)
General and administrative (17,461) (16,634)
Income (loss) from unconsolidated joint ventures 1,907 (1,346)
NOI from unconsolidated joint ventures (4,927) (5,602)
Interest and other income, net 3,815 19,420
Interest and debt expense (43,200) (40,269)
Other, net (102) (116)
(Loss) income before income taxes (4,951) 17,078
Income tax expense (366) (347)
Net (loss) income (5,317) 16,731
Consolidated joint ventures (3,845) (5,206)
Consolidated real estate related funds (1,769) (762)
Operating Partnership 905 (898)
Net (loss) income attributable to common stockholders $ (10,026) $ 9,865
[1] NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We present Paramount’s share of NOI which represents our share of NOI of consolidated and unconsolidated joint ventures, based on our percentage ownership in the underlying assets. We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.