Commercial

Multi-family

Corporate

Total



& Other Real Estate

Real Estate & Services (d)

& Other (e)

Company

Total revenues:

Three months ended:

March 31, 2018

$

$

$

$

March 31, 2017



Total operating and

   interest expenses (a):

Three months ended:

March 31, 2018

$

$

$

$

March 31, 2017



Equity in earnings (loss) of

   unconsolidated joint ventures:

Three months ended:

March 31, 2018

$

$

$

 -

$

March 31, 2017

 -



Net operating income (loss) (b):

Three months ended:

March 31, 2018

$

$

$

$

March 31, 2017



Total assets:

March 31, 2018

$

$

$

$

December 31, 2017



Total long-lived assets (c):

March 31, 2018

$

$

$

$

December 31, 2017



Total investments in

   unconsolidated joint ventures:

March 31, 2018

$

$

$

$

December 31, 2017



(a)

Total operating and interest expenses represent the sum of: real estate taxes; utilities; operating services; direct construction costs; real estate services expenses; general and administrative, acquisition related costs and interest expense (net of interest income).  All interest expense, net of interest and other investment income, (including for property-level mortgages) is excluded from segment amounts and classified in Corporate & Other for all periods.

(b)

Net operating income represents total revenues less total operating and interest expenses (as defined in Note “a”), plus equity in earnings (loss) of unconsolidated joint ventures, for the period.

(c)

Long-lived assets are comprised of net investment in rental property, unbilled rents receivable and goodwill. 

(d)

Segment assets and operations were owned through a consolidated variable interest entity commencing in February 2017.    

(e)

Corporate & Other represents all corporate-level items (including interest and other investment income, interest expense, non-property general and administrative expense), as well as intercompany eliminations necessary to reconcile to consolidated Company totals.





Commercial

Multi-family

Corporate

Total



& Other Real Estate

Real Estate & Services (d)

& Other (e)

Company

Total revenues:

Three months ended:

March 31, 2018

$

$

$

$

March 31, 2017



Total operating and

   interest expenses (a):

Three months ended:

March 31, 2018

$

$

$

$

March 31, 2017



Equity in earnings (loss) of

   unconsolidated joint ventures:

Three months ended:

March 31, 2018

$

$

$

 -

$

March 31, 2017

 -



Net operating income (loss) (b):

Three months ended:

March 31, 2018

$

$

$

$

March 31, 2017



Total assets:

March 31, 2018

$

$

$

$

December 31, 2017



Total long-lived assets (c):

March 31, 2018

$

$

$

$

December 31, 2017



Total investments in

   unconsolidated joint ventures:

March 31, 2018

$

$

$

$

December 31, 2017



(a)

Total operating and interest expenses represent the sum of: real estate taxes; utilities; operating services; direct construction costs; real estate services expenses; general and administrative, acquisition related costs and interest expense (net of interest income).  All interest expense, net of interest and other investment income, (including for property-level mortgages) is excluded from segment amounts and classified in Corporate & Other for all periods.

(b)

Net operating income represents total revenues less total operating and interest expenses (as defined in Note “a”), plus equity in earnings (loss) of unconsolidated joint ventures, for the period.

(c)

Long-lived assets are comprised of net investment in rental property, unbilled rents receivable and goodwill. 

(d)

Segment assets and operations were owned through a consolidated variable interest entity commencing in February 2017.    

(e)

Corporate & Other represents all corporate-level items (including interest and other investment income, interest expense, non-property general and administrative expense), as well as intercompany eliminations necessary to reconcile to consolidated Company totals.