v3.26.3
Investments in and Advances to Unconsolidated Affiliates - Unconsolidated Affiliates - Schedule of Condensed Income Statement (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Combined and Condensed Statements of Operations        
Total revenues $ 94,983 $ 101,006 $ 293,398 $ 305,992
Depreciation and amortization (35,572) (38,884) (110,889) (117,593)
Gain (loss) on disposition of properties 200   30,300  
Company's equity in losses of unconsolidated affiliates (467) (3,694) 11,954 (9,598)
Unconsolidated Affiliates        
Combined and Condensed Statements of Operations        
Total revenues 56,358 29,073 156,345 90,215
Operating and other expenses (18,064) (10,911) (53,032) (34,141)
Interest expense (19,398) (9,780) (54,718) (31,944)
Depreciation and amortization (27,572) (11,946) (74,455) (38,420)
Gain on extinguishment of debt [1] 1,271 971 3,212 2,893
Impairment of real estate [2] 0 (3,480) 0 (3,480)
Gain (loss) on disposition of properties [3] 0 0 20,381 (1,030)
Net loss attributable to unconsolidated affiliates (7,405) (6,073) (2,267) (15,907)
Operating Partnership, as General Partner or Managing Member        
Combined and Condensed Statements of Operations        
Company's share of equity in net (losses) earnings of unconsolidated affiliates (369) (3,596) 12,248 (9,304)
Basis differential amortization (98) (98) (294) (294)
Company's equity in losses of unconsolidated affiliates $ (467) $ (3,694) $ 11,954 $ (9,598)
[1] Includes the gain on debt extinguishment related to the restructuring at 840 N. Michigan Avenue for the three and nine months ended September 30, 2026 and 2025.
[2] The impairment charge for the three and nine months ended September 30, 2025 is related to the 650 Bald Hill Road property.
[3] Includes the gain on sale of 650 Bald Hill Road and Tri-City Plaza for the nine months ended September 30, 2026 and the loss on the sale of Eden Square for the nine months ended September 30, 2025.