v3.25.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Rental revenue $ 153,540 $ 152,470 $ 308,082 $ 306,352
Observatory revenue 33,899 34,124 57,060 58,720
Lease termination fees 464 0 464 0
Third-party management and other fees 408 376 839 641
Other revenue and fees 2,939 2,573 4,871 5,009
Total revenues 191,250 189,543 371,316 370,722
Operating expenses:        
Property operating expenses 44,880 41,516 89,940 86,576
Ground rent expenses 2,332 2,332 4,663 4,663
General and administrative expenses 18,685 18,020 35,625 33,992
Observatory expenses 9,822 8,958 17,940 17,389
Real estate taxes 32,607 31,883 65,657 64,124
Depreciation and amortization 47,802 47,473 96,581 93,554
Total operating expenses 156,128 150,182 310,406 300,298
Total operating income 35,122 39,361 60,910 70,424
Other income (expense):        
Interest income 1,867 5,092 5,653 9,270
Interest expense (25,126) (25,323) (52,064) (50,451)
Interest expense associated with property in receivership 0 (628) (647) (628)
Loss on early extinguishment of debt 0 0 0 (553)
Gain on disposition of property 0 10,803 13,170 10,803
Income before income taxes 11,863 29,305 27,022 38,865
Income tax (expense) benefit (478) (750) 141 (95)
Net income 11,385 28,555 27,163 38,770
Private perpetual preferred unit distributions (1,051) (1,051) (2,101) (2,101)
Net income attributable to non-controlling interests in other partnerships 0 0 0 (4)
Net income attributable to common unitholders $ 10,334 $ 27,504 $ 25,062 $ 36,665
Total weighted average units:        
Basic (in shares) 266,899 264,676 266,985 264,619
Diluted (in shares) 269,951 268,716 269,739 268,105
Earnings per unit attributable to common unitholders:        
Basic (in USD per share) $ 0.04 $ 0.10 $ 0.09 $ 0.14
Diluted (in USD per share) 0.04 0.10 0.09 0.14
Dividends per unit ((in USD per share) $ 0.035 $ 0.035 $ 0.070 $ 0.070