v3.25.1
REAL ESTATE DISPOSITIONS (Tables)
 3 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule Of Revenue And Expenses / Assets and Liabilities of Real Estate For Non Sale Disposition The following table summarizes the revenue and expenses related to 201 Spear Street for the three months ended March 31, 2024 (in thousands).
 For the Three Months Ended
March 31, 2024
Revenues
Rental income (1)
$197 
Other operating income9 
Total revenues$206 
Expenses
Operating, maintenance, and management$52 
Real estate taxes and insurance69 
Asset management fees to affiliate26 
General and administrative expenses22 
Interest expense419 
Total expenses$588 
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(1) For the three months ended March 31, 2024, rental income includes a reserve for straight-line rent for a lease at 201 Spear Street.
The following table summarizes certain revenues and expenses related to the Company’s real estate properties that were sold during the year ended December 31, 2024, which were included in continuing operations (in thousands).
 For the Three Months Ended
March 31, 2024
Revenues
Rental income$5,158 
Other operating income403 
Total revenues$5,561 
Expenses (1)
Operating, maintenance, and management$1,317 
Real estate taxes and insurance945 
Asset management fees to affiliate332 
Depreciation and amortization1,817 
Total expenses$4,411 
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(1) The office property sold in February 2024 had served as collateral for the Modified Portfolio Revolving Loan Facility and the property sold in November 2024 had served as collateral for the Amended and Restated Portfolio Loan Facility. Interest expense incurred on these portfolio loans is not allocated to the individual properties that serve as collateral for these portfolio loans and therefore, interest expense incurred for the sold properties is not shown in this table. Upon the sale of the office property in February 2024, $46.2 million of the outstanding principal of the Modified Portfolio Revolving Loan Facility was repaid. Upon the sale of the office property in November 2024, $140.4 million of the outstanding principal of the Amended and Restated Portfolio Loan Facility was repaid.