v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUES    
Revenues $ 198,459 $ 214,023
OPERATING EXPENSES    
General and administrative 18,483 19,710
Depreciation and amortization 93,085 91,854
Total operating expenses 224,826 221,620
OTHER EXPENSES    
Loss from unconsolidated real estate entities (1,254) (743)
Fee income 1,359 1,125
Interest expense (43,505) (44,089)
Interest income 435 854
Management services reimbursement income—unconsolidated real estate entities 975 1,156
Management services expense—unconsolidated real estate entities (975) (1,156)
Transaction-related expenses 0 (2,150)
Unrealized loss on non-real estate investments (449) (898)
Loss on extinguishment of debt (1,858) 0
Gain on sale of real estate, net 10,023 0
Impairment loss (18,476) 0
Other income 8 143
Total other expenses (53,717) (45,758)
Loss before income tax provision (80,084) (53,355)
Income tax provision (194) 0
Net loss (80,278) (53,355)
Net income attributable to participating securities 0 (202)
Net loss attributable to non-controlling interest in consolidated real estate entities 7,467 4,169
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 902 1,157
Net loss attributable to common units in the operating partnership 2,394 1,229
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (74,708) $ (52,202)
BASIC AND DILUTED PER SHARE AMOUNTS    
Net loss attributable to common stockholders—basic (in dollars per share) $ (0.53) $ (0.37)
Net loss attributable to common stockholders—diluted (in dollars per share) $ (0.53) $ (0.37)
Weighted average shares of common stock outstanding—basic (in shares) 141,386,505 141,122,337
Weighted average shares of common stock outstanding—diluted (in shares) 141,386,505 141,122,337
Series A preferred units    
OTHER EXPENSES    
Net income attributable to preferred units/share $ (146) $ (153)
Series C preferred stock    
OTHER EXPENSES    
Net income attributable to preferred units/share (5,047) (5,047)
Office    
REVENUES    
Rental revenues 158,393 171,427
Service and other revenues 6,818 3,648
Revenues 165,211 175,075
OPERATING EXPENSES    
Total core office expenses 72,277 72,947
Studio    
REVENUES    
Rental revenues 13,652 13,600
Service and other revenues 19,596 25,348
Revenues 33,248 38,948
OPERATING EXPENSES    
Total core office expenses $ 40,981 $ 37,109